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The Pan-African Economy in Brief: Wednesday, April 7, 2021

Cameroon:
Oriole Resources consolidates its presence in the Cameroonian gold sector:
Oriole Resources now holds a 51% majority stake in Reservoir Minerals Cameroon (RMC), the former subsidiary of Cameroon's BEIG3 and owner of the Wapouzé and Bibemi exploration licenses. The announcement was made on April 6 by the junior mining company, which said it comes at the end of an estimated $1.56 million in gold exploration expenditures on the two assets.

Senegal:
Senegal inaugurates a training center for agricultural machinery:
With a lack of profiles in the management and maintenance of agricultural machinery, Senegalese companies have contacted the government, which has responded by opening an institute in the field. The space, which offers initial and ongoing training, will help modernize the country's agricultural practices.

Angola:
Eni discovers a large light oil deposit off Angola:
In Angola, Italian hydrocarbon producer Eni has reported the discovery of a light oil deposit estimated to be between 200 and 250 million barrels in size. This was made while drilling the Cuica-1 NFW well, located within the East Hub development area, on the deep offshore Block 15/06.

Congo:
Kore Potash seeks support from investors and engineering companies to develop Kola deposit:
Mining company Kore Potash announced on April 6 that it has entered into a memorandum of understanding with African corporate finance and alternative investment group Summit Africa Limited, which is acting on behalf of a consortium of investors and engineering companies. The consortium, which includes UAE's BRP Global and China's SEPCO and ENFI Engineering Corp, is committed to raising the necessary financing to bring the Kola potash deposit in Congo into production.


Mozambique:
Organizations question the recapture of the town of Palma announced by the army:
After a three-day offensive, the town of Palma fell on Saturday, March 27, to the shebab terrorists. The terrorists have been waging an insurgency in Cabo Delgado province since 2017, and the army has never succeeded in defeating them.