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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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