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  • Telkom CEO Sipho Maseko to step down
    Telkom has announced that its CEO and executive director Sipho Maseko will step down on 30 June 2022. The telecoms company said the process to appoint a successor is well underway and a designated group CEO will be announced in the not too distant future.
  • How cooking oil brought a moment of joy during a dreadful week
    It is possible that cooking oil prevented more looting in South Africa in the last week than the president, the ANC, the intelligence community, the army and the police combined. This, without question, says something about the versatility of the product. It says even more about the state of the state. When you are shown up by canola, you might want to revisit your strategy. By Howard Feldman
  • Park Advertising launches digital performance unit, Lucid Media
    Performance Media across Search, Social and Programmatic platforms is the single fastest growing area of digital media in South Africa. Combine that with the detailed analysis of campaign management, tagging and ad operations, and it becomes apparent that these highly specialist functions require a highly specialised unit.
  • Transnet hit by cyberattack - Operations disrupted nationwide
    The Transnet Port Terminals website has been hacked, implying that all companies under Transnet have been affected. All Transnet websites were down at the time when reporting was done for this SA Trucker article. The publication cited sources who requested to remain anonymous because they are not allowed to speak to the media.
  • #BehindtheBrandManager: Meet Tamsin Darroch of Kellogg's South Africa
    Few food brands have the historical connection with consumers around the world as Kellogg's does, having held meaning at the breakfast table for over a century. By Lauren Hartzenberg
  • Business unusual for small enterprises on the road to recovery
    The Covid-19 pandemic has hit South Africa's small business sector hard and there are grim statistics to bear this out. Those statistics will not be repeated here. After all, if you are a small business owner setting out on the road to recovery, the last thing you probably want is more details of the toll the pandemic has taken on small enterprises. Far more useful would be some good, solid tips on how to build back better after any business setbacks. By Ameen Hassen
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Africa needs to do a better job to attract exploration investment

Africa needs to do a better job of attracting exploration investment as the global competition increases. While the continent's geology and highly-promising sedimentary basins offer relatively low risks for explorers, the above-the-ground risks linked to red tape and the sanctity of contracts remain major obstacles to increasing investments into exploration. Unfortunately, other global frontiers continue to perform better in offering attractive terms and jurisdictions for explorers and investors, especially in South America. In comparison, several African markets remain seen as risky and promoting legislations that deter investments.
Image: Total
Terms and local content regulations especially need to adapt to new realities. While upcoming or frontier markets such as Senegal, Niger, Chad, Kenya or Uganda need to adopt progressive local content regulations taking into account the emerging status of their local industry, other established markets like Nigeria need to adjust their terms to new market realities.

Finally, the promotion of African acreages and blocks need to be accompanied by better quality data and information. Unfortunately, African governments have shied away from putting in the kind of efforts and money that would ensure the gathering of high quality data to support licensing rounds across the continent. While Africa’s risk profile deteriorates, the continued lack of access to reliable and quality data further complicates investment promotion efforts.

However, the outlook remains positive with extremely promising wells planned for drilling in major frontiers such as South Africa, Namibia or Angola. With its extremely abundant natural resources, African can quickly reposition itself as an attractive and competitive destination for exploration investment if it is willing to implement quick policy gains that would ensure a sustainable and quick recovery of its oil & gas industry.


SOURCE

African Press Organisation
APO is the sole press release wire in Africa, and the global leader in media relations related to Africa. With headquarters in Dakar, Senegal, APO owns a media database of over 150,000 contacts and the main Africa-related news online community.
Go to: www.bizcommunity.com/PressOffice.aspx?cn=apogroup
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