4 African Business October 2018
Business intelligence News
Sonangol currently has a workforce of approximately 13,000 employees
Helios Towers to invest $10m in DRC Helios Towers, an African mobile phone towers operator, plans to invest over $10m in the Democratic Republic of Congo (DRC) and seek local partnerships in the country. The company, which owns over 6,000 telecoms towers in Ghana, Tanzania, Congo Brazzaville and the DRC, plans to build 1,800 kilometres of tower network in the DRC to connect an additional 6m people in sub-Saharan Africa’s largest country.
The London-headquartered company hopes to service Vodacom and Orange services, which have both been awarded 4G licences in the country. The move comes after Helios was forced to scrap
ANGOLA SETS UP NEW OIL REGULATOR Angola has set up a new reg ulator for the country’s oil industry as the government restructures the national oil company Sonangol. The National Agency of Petroleum and Gas will assume regulatory responsibilities in the first six months of 2019 with the reorganisation scheduled for completion the following year. The agency will be tasked with auctio ning new oil concessions, managing production-sharing agreements and distributing profits. The move comes as Angola’s crude production dropped to about 1.4m barrels a day, down from an average 1.9m barrels 10 years ago. Sonangol also plans to sell off under-performing non-oil assets.
an initial public offering earlier this year which valued the company at £2bn ($2.8bn). Tanzania plots Uganda gas pipeline Tanzania plans to build a pipeline to transport natural gas to neighbouring Uganda in a bid to boost energy cooperation between the two East African nations. The pipeline would start from Tanzania’s capital Dar es Salaam, then go through Tanga port on the Indian Ocean and on to the Lake Victoria port Mwanza, before crossing the border to Uganda. Tanzania boasts an estimated 57 trillion cubic feet of recoverable natural gas reserves, mostly in offshore fields.