African Energy seals Sese disposal deal

Under this deal, FQM will purchased 51 percent stake in the power project located in the central district for  $8 million (P76 million). A statement from the Botswana Stock Exchange (BSE) listed company states that all conditions precedent to the conclusion have been met. “FQM will now purchase an initial 51 percent stake in African Energy Holdings and will become project manager for the Sese project,” reads the statement.

Under the agreement, FQM can earn 75 percent interest in the Sese project through an investment of  $20 million (P170 million) and other loan arrangements.