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Sahara Energy, Petroci Sign $43 Million Deal To Boost LPG Supply In Cote D’Ivoire

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Dr. Ibrahima Diaby, Director General, Nationale d’Opérations Pétrolières de la Cote d’Ivoire (Petroci Holding), and
Olayemi Odutola , Country Manager, Sahara Energy (Cote d’Ivoire) at the execution of the Joint Venture Agreement between both companies for the construction of a 12,000 Metric Tonnes Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in Cote d’Ivoire. (Source: Sahara Energy).

Sahara Energy Logistics Holding Limited (a Sahara Group company) and Société Nationale d’Opérations Pétrolières de la Cote d’Ivoire (The National Oil Company of Cote d’Ivoire, Petroci Holding), have entered into a Joint Venture Agreement (JVA) to facilitate the construction of a 12,000 Metric Tonnes Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation.

The cost of the project is estimated at $43million and will be executed in two phases, with commissioning scheduled for November 2021 and October 2022 respectively.

Incorporated as SAPET Energy S.A., the joint venture company will handle the construction, operation, and maintenance of the ultra-modern LPG storage terminal. Upon completion, the facility will become the largest of its kind is Sub-Saharan Africa, and more importantly, support the government’s efforts to meet Cote d’Ivoire’s growing LPG demand.

Speaking at the execution of the agreement, Dr. Ibrahima Diaby, Director General Petroci, said, “this joint venture project is the first of its kind in Cote d’Ivoire and will serve as a model for other projects in the energy sector. It is a historic event that will pave the way for a robust and seamless storage, distribution, and supply of LPG. This translates to more clean energy, growth, and productivity in Cote d’Ivoire. We are delighted and look forward to more collaboration with Sahara Energy.”

Olayemi Odutola, Country Manager, Sahara Energy said the project was in tandem with Sahara Group’s commitment to promoting clean energy in Africa through investments, new technology, and collaboration with regional and global institutions. He stated that the partnership with Petroci further reiterates Sahara Group’s support and commitment to enhancing economic growth in Cote d’Ivoire and contributes to the UN SDG7 goal which aims at ensuring access to affordable and clean energy.

“We are excited about the project and the huge opportunity it will confer on Cote d’ Ivoire as the leading LPG hub in the sub-region. Sahara Energy continues to support the energy value chain in the nation as a foremost partner. Sahara Group remains unwavering in its commitment to enhance capacity, productivity, reliability, safety, profitability, competitiveness, and sustainability in Africa’s energy sector. We will continue to explore other investment and partnership opportunities to replicate similar projects across the continent,” he said.

Industry experts say the development is cheery news for the nation with a population of 25 million people which has recently emerged as one of West Africa’s fastest growing LPG markets. National LPG consumption has grown from 175KT in 2013 to 380KT in 2019, a significant increase that far exceeds the country’s demand for liquid products (excluding gasoline).

The proposed facility will increase the country’s LPG storage capacity by 60% and significantly enhance importation, storage, supply and distribution of LPG and other related activities in Cote d’Ivoire and its neighboring countries such as Mali, Burkina Faso, and Guinea.

Also Read: Siemens: Setting the Pace for Good Corporate Citizenship in Nigeria

The investment will also bridge the current product supply and storage gap in the market and ensure more product availability and security by increasing stockholding from 15 days to 27 days.

Sahara Group is already a leading LPG supplier on the continent via its joint ownership of MT Africa Gas and MT Sahara Gas, both LPG vessels with a combined capacity of 76,000 cubic metres (cbm). The vessels have delivered about 600,000 metric tonnes of LPG, making households, communities and nations cleaner and safer as well as boosting economic growth and development across markets.

Source: Sahara Energy


Press Release

Qatar Airways to launch new route to Lusaka and Harare from August

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Qatar Airways (Image: YouTube)

Qatar, DOHA – Zambia and Zimbabwe are being added to Qatar Airways expanding list of destinations in Africa from early August, bringing its award-winning service to two important southern African destinations.

The new service to Lusaka and onwards to Harare is scheduled to be operated with a Boeing 787 Dreamliner. It will connect passengers in Zambia and Zimbabwe with Qatar Airways’ global network of more than 140 destinations. With the addition of these two new routes the carrier will operate over 100 weekly flights to 27 destinations in Africa.

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker said: “Africa continues to be an area of strong growth for Qatar Airways and launching this service will support the development of the economy and tourism sector in both countries.

“Not only do we continue to rebuild our network after the pandemic, but we are actively expanding it with the addition of these two key destinations. These are the fifth and sixth new destinations in Africa added to our network since the start of the pandemic, taking our total new destinations added across the globe to 10.”

The launch of Lusaka and Harare also supports increased demand for trade between Zambia and Zimbabwe and destinations on the Qatar Airways network such as London, Frankfurt and New York and from multiple points in China. With a total of 30 tonnes of cargo capacity on the aircraft per flight, Qatar Airways Cargo will play a key role in facilitating key exports from Zambia and Zimbabwe.

As travellers return to the skies with Qatar Airways, they can take comfort knowing that they are travelling with the only airline in the world that has, together with its state-of-the-art global hub Hamad International Airport, achieved four 5-Star Skytrax ratings – including the prestigious 5-Star Airline Rating, 5-Star Airport Rating, 5-Star COVID-19 Airline Safety Rating and 5-Star COVID-19 Airport Safety Rating.

These achievements highlight Qatar Airways’ commitment to providing our passengers with an industry-leading experience at every point of their journey, including the highest possible level of health and safety standards that safeguard the wellbeing of our passengers both on the ground and in the air. For full details of all the measures that have been implemented onboard and in HIA, please visit www.qatarairways.com/safety.

A multiple award-winning airline, Qatar Airways was named ‘World’s Best Airline’ by the 2019 World Airline Awards, managed by the international air transport rating organisation Skytrax. It was also named ‘Best Airline in the Middle East’, ‘World’s Best Business Class’, and ‘Best Business Class Seat’, in recognition of its ground-breaking Business Class experience, Qsuite. Qsuite is available on flights to more than 40 destinations including Casablanca, New York, Paris and Singapore.

Flight schedule starting 6 August:

Wednesday, Friday and Sunday

Doha (DOH) to Lusaka (LUN) QR1455 departs: 02:20 arrives: 08:50

Lusaka (LUN) to Harare (HRE) QR1455 departs: 10:20 arrives: 11:20

Harare (HRE) to Lusaka (LUN) QR1456 departs: 18:55 arrives 19:55

Lusaka (LUN) to Doha (DOH) QR1456 departs: 21:25 arrive 05:55 (+1)

 

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Fatura secures a $3 Million pre-series A investment round

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Fatura co-Founders (Source: Hossam Ali)

Fatura round was co-led by Sawari Ventures and Arzan VC, with the participation of Egypt Ventures, EFG-EV, The Cairo Angels as well as Khwarizmi Ventures. The B2B marketplace was launched late 2019 and already crossed the 1 Billion EGP yearly GMV milestone, and that’s just in the FMCG sector. Fatura is a mobile application that connects wholesalers & manufacturers with retailers in different industries. The start-up has been operating in the FMCG industry and it is currently piloting in other industries.

During the past year the start-up also extended its reach to more than 25,000 retailers and more than  500 wholesalers and manufacturers across 20 governorates, exchanging more than 10,000 SKUs. Fatura also cracked the surface of financial services by introducing digital lending with focus on retailers financing, aiming to add more services in that area in the near future.

“Fatura’s existing infrastructure has enabled them to expand their offerings to new customers,” commented Hany Al-Sonbaty, Managing Partners at Sawari Ventures, adding that, “the team has demonstrated that they have the vision to identify new opportunities and the prowess and agility to implement and deliver. We are excited to become part of their journey.”

Hossam Ali, Fatura’s CEO, commented on the news saying: “There is a great opportunity in the B2B space in Egypt, that is growing as the players are becoming digitally mature and ready. Collectively, the digital B2B players in the FMCG space capture less than 5% of the market and there is a long way to go. Our conviction is to stay asset-light, be inclusive to all the industry stakeholders and to attract the best on-ground acquisition force across the country”

Fatura has built a strong foundation and infrastructure that enables it to monetize its data and services. The company’s future plans include new services that support the different players in its ecosystem including manufacturers, wholesalers and retailers, multiple digitization initiatives with focus on digital payments and regional expansion into new markets.

“Being part of Fatura’s success story is exciting for us. The FMCG industry is in need of Fatura’s product, which will solve many challenges faced by small retailers. Also, its fintech angle complements the core product and enables retailers to scale their business further with less working capital constraints.” – Hasan J. Zainal, Managing Partner of Arzan Venture Capital

This investment will gear Fatura to extend its services beyond e-commerce and digital lending to optimize the exchange of goods, money and information in the B2B context while focusing on convenience and the different users’ experience.

 

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Business Africa Online, InnoPower and Afrigrants to Host some of the best African, USA Innovators and Investors

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Business Africa Online, InnoPower, LLC (USA) and Afrigrants Foundation are set to Host some of the best Innovators, Investors, Business Consultants and Industry Experts in the world at the Going Global Summit with the theme, “Africa: The Next Global Frontier”. The summit is a part of InnoPower Minority Business Week (IMBW) hosted by Innopower, LLC (USA) scheduled to hold from Monday, June 14 to Friday, June 18, 2021 and currently ongoing.

The Going Global Initiative intends to boost a stronger pipeline of awareness, access to Africa’s talent and solutions with these focus areas; Entrepreneurship, Connection and Advocacy. The InnoPower Going Global Summit 2021 is a digital summit and intends to connect Africa to the global economy, starting with the USA. It will attract global business leaders, entrepreneurs, investors, decision and policy makers around the world, especially from Africa and the United States of America (U.S.A). The Summit will feature panel sessions, virtual pitch, awards and networking.

Panel Discussion Topics will cover:

  1. Positioning African entrepreneurs for global exposure and impact.
  2. Raising Global Capital: Understanding the Why, When and How.
  3. Post COVID-19: Exploring US-Africa Investment Opportunities.

Esteemed Guests include:

  • Dr. Akintoye Akindele (Nigeria) – Executive Chairman, Platform Capital
  • Lawrence Walter (USA) – Vice President, Entrepreneurship at IEDC
  • Ayodeji Balogun (Nigeria)– Founder and CEO of Premier Credit
  • Lydia Idem (USA) – Founder & Managing Director of FM Capital Group
  • Adesuwa Okunbo Rhodes (Nigeria) – Founding Partner & CEO, Aruwa Capital Management
  • Nike Anani (Nigeria) – Founder, Nike Anani Practice Ltd
  • Ali Hussein Kassim (Kenya) – Tech Executive and Advisor
  • Mohamed Aboulnaga  (Egypt) – Tech Entrepreneur
  • Shila Nieves Burney (USA) – Founder, Zane Venture Fund & Zane Access
  • Segun Abiona (Nigeria) – Founder & Innovation Director, Nicole & Giovanni
  • Manisha Dookhony (Mauritius) – Economist & Senior Advisor
  • Sherif Nessim (Egypt) – Founder & Managing Director, Jedar Capital
  • Linda Wayoe (Ghana) – Director, AM Group & Board Member UK-Ghana Chamber of Commerce
  • Mariam Kamel (Egypt) – Manager, AUC Angels
  • Horesia Nyawade (South Africa) – CIO & Co-Founder, Vuuqa
  • Muhammida El Muhajir (Ghana) – Global Brand Strategist

Conceptualised by Afrigrants Foundation, Pitch School Africa is an annual youth entrepreneurship event  that trains young entrepreneurs on how to pitch their business ideas to potential investors. Over 200 students across Africa participated in the Pitch School Africa 2021 stream, which has now been narrowed down to just 4 BIG ideas that will be featured at the Grand Finale. The 4 Finalists that will pitch their business ideas at the 2021 InnoPower Going Global are; Gualo Confidence (Nigeria) – Gualocian fish processing, Budani Bulayani (Botswana) – Budzi Products, Favour Adeleke (Nigeria) – Qiqi Farms and Oluwatomilola Mustapha (Nigeria) – Raytreat.

The Pitch Jury are;

  1. Ronda Taylor, PhD Department Chair Entrepreneur Program, Ivy Tech Community College-Central Indiana.
  2. Dr. Kristin Burton Asst. Professor, Entrepreneurship, College of Business, Purdue University.
  3. Joe Albano, Principal Logika International LLC.

The winner will be awarded the grand prize of $5000 with a one year mentorship from the finest business developers across the world.

Awards

Over the past 12 months, businesses have faced remarkable challenges due to global economic meltdown and the COVID-19 pandemic crisis. Many ventures were forced to shut their doors through legislation and other circumstances. Some managed to survive by thinking out of the box and adapting to the changing and dire times. Business Africa Online (BAO) with the support of InnoPower, LLC (USA) will be recognising and awarding three (3) African resilient startups that have pulled out all the steps to grow back better through the pandemic in Africa. The awardees will get a support grant of $500 each with an acceleration program led by global business developers.

“Our strategic partnership with InnoPower, LLC (USA) is to support and further drive its Going Global Initiatives here in Africa. Also to reaffirm our commitment to connect African entrepreneurs and businesses with US-based investors. We are inspired and motivated everyday by the incredible African (Social) entrepreneurs and investors within our community and their desire to impact the world positively.” says Alaba Ayinuola, Founder & CEO of Business Africa Online

To register for this virtual summit, please visit bit.ly/InnoPowerGoingGlobal2021

 

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