Zambian firm snaps Sese Power Project up

Sese and Mmamantswe coal deposits map
Sese and Mmamantswe coal deposits map

Zambia’s largest foreign investor, First Quantum Minerals (FQM), is to buy a controlling stake in African Energy’s 300MW Sese Power Project near Francistown through equity and debt instruments.

In a statement released this week, the two companies announced that they had signed a binding Heads of Agreement (HoA).  

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

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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