MIL Africa Engine

Source: APO

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Oando PLC (https://OandoPLC.com/), Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Ltd. and Johannesburg Stock Exchange, has published its unaudited results for the six months ended 30 June 2026. The Group posted a 20% revenue increase to ₦2.1 trillion, reflecting the results of the Company’s cost-optimisation initiatives, principally lower transport, logistics, service and ICT costs, alongside the benefit of higher production across a largely fixed field cost base. This stronger earnings performance is also reflected in the Company’s profit after tax, which rose 8% to ₦68.6 billion and gross profit, which rose 331% to ₦101 billion.

Oando’s upstream subsidiary reported a 92% facility uptime compared to 85% in 2025, resulting in a 16% increase in average production to 42,789 boepd from 36,836 boepd in H1 2025. This production number comprises crude oil production up by 19% to 12,358 bopd, gas volumes up 14% to 28,497 boepd, and NGL production up 16% to 1,935 boepd. The Company states these results were underpinned by a combination of factors: the successful drilling of new wells, the restoration of 12 previously shut-in wells, and sustained improvements in facility uptime across OMLs 60-63.

In its trading arm, the Group saw a 2.1% increase in trading volumes to 13.15 MMbbl. The Company attributed this increase to its crude oil marketing and offtake programmes and increased sourcing from marginal field producers and remains focused on expanding its broader crude oil marketing and trading portfolio in the other half of the year.

Group Chief Executive, Wale Tinubu CON, speaking on the half-year 2026 results, commented “The first half of 2026 marks an important inflection point in Oando’s journey. Over the past two years, our priority has been to successfully integrate one of the most significant upstream acquisitions in Africa and unlock the full value of our expanded portfolio. The progress achieved during the period demonstrates that we are now delivering the operational and financial outcomes expected from that transformation.

Operational efficiency underpinned our performance during the period as we strengthened asset integrity, improved facility reliability and reinforced security across our operating areas, resulting in average facility uptime of 92% while reducing production operating costs by 18% to US$16.83 per boe.”

“Our development programme also gathered significant momentum during the period as we successfully drilled and completed two land development wells, with an additional land well currently being drilled, while mobilising a second drilling rig to accelerate activity across our operated portfolio. In parallel, we continued an extensive programme of rig-less well interventions designed to restore production, sustain plateau output and mitigate natural field decline. Together, these activities increased average production to 42,789 boepd, representing 16% year-on-year growth.

This translated into a stronger financial performance, with revenue increasing by 20% to ₦2.1 trillion, while the business generated ₦179.5 billion in operating cash, improving liquidity. Profit after tax also increased by 8% to ₦68.6 billion, reflecting the overall improvement in operating performance during the period.” He added.

Similarly, another independent, Seplat Energy Plc, also reported a 4% increase in average production in H1 2026 to 139,509 boepd, while Aradel Holdings Plc reported a 523% increase to 139.5 kboepd.

In 2026, Oando embarked on an extensive drilling programme across both the operated and non-operated portfolio. With this already yielding results in H1 within OMLs 60–63, the Company hopes to complete its seven-well programme with planned drilling across its assets in Idu T, Samabri A and Ogbanbiri. This is to be complemented by a rig-less programme of approximately 100 well intervention activities planned across the portfolio for the full year. Together, these activities are expected to add production, sustain plateau and offset natural field decline across the portfolio.

Addressing the Company’s outlook, Mr Tinubu stated, “Looking ahead in 2026, our priorities remain firmly centred on completing our seven-well drilling programme and portfolio-wide well intervention campaign while delivering production of circa 50,000 boepd. Beyond 2026, our identified inventory of 62 development wells, supported by 55 planned well interventions, provides a clear pathway towards our medium-term production ambition of approximately 100,000 boepd.

Furthermore, we shall execute an intensive fundraising and balance sheet restructuring programme to optimise our capital structure, strengthen our financial position, improve working capital, enhance financial flexibility and ensure the business is appropriately funded to accelerate growth and maximise long-term shareholder value

We have built a resilient operating platform and established a clear roadmap for growth. Our focus is now on translating our significant opportunities into higher production, a stronger balance sheet and superior long-term returns for our shareholders.”

The Company reaffirms full-year production guidance of 40,000–50,000 boepd, supported by a seven-well drilling programme across OMLs 60–63, of which two wells have been completed, with two more in progress. The trading arm has revised its guidance to 22–26 MMbbls following adjustments to a crude oil marketing programme. The Company also continues to advance the Rights Issue and its US$1.5 billion multi-instrument issuance programme and the expansion of its clean energy initiatives.

Distributed by APO Group on behalf of Oando PLC.

Source: APO

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Official photographs and video footage documenting Seychelles’ Golden Jubilee commemorative artefacts aboard the International Space Station (ISS) were today received by State House from the Embassy of the Russian Federation.

The material was presented to President Dr Patrick Herminie by the newly accredited Ambassador Designate of the Russian Federation, Mr Kirill Gennadievich Sokolov Shcherbachev, during this morning’s ceremony of presentation of credentials. The commemorative video captures a striking image of the Seychelles flag in outer space, marking a unique chapter in the nation’s 50th Independence Anniversary celebrations.

Among the items sent into orbit were Seychelles’ National Flag, the Coat of Arms, and President Herminie’s Independence Day commemorative message. While aboard the ISS, the President’s message was formally read aboard the International Space Station by members of the mission, who also delivered their own congratulatory message conveying the Russian Federation’s warm wishes to the people of Seychelles on the occasion of the nation’s Golden Jubilee.

The commemorative documents and national artefacts were officially authenticated by Russian cosmonauts using the station’s official postal and mission seals, certifying that they had genuinely travelled in space.

Upon their return to Earth, the space-flown artefacts, bearing official International Space Station markings, will be formally presented to Seychelles and preserved by the National History Museum for future generations as part of the nation’s heritage collection.

The initiative forms part of the celebrations marking both the 50th Anniversary of the Independence of the Republic of Seychelles and 50 years of diplomatic relations between Seychelles and the Russian Federation, further commemorating a partnership that spans five decades.

President Herminie welcomed the gesture as a meaningful tribute to Seychelles’ Golden Jubilee and to the enduring friendship between Seychelles and the Russian Federation. The returning artefacts will become part of the National History Museum’s collection, preserving this unique chapter of the nation’s history for future generations.

Distributed by APO Group on behalf of State House Seychelles.

Source: APO

Government plans to erect electric fences around residential communities in districts hosting or surrounding national parks, in a bid to address challenges of human-wildlife conflict.

The State Minister for Tourism, Hon. Susan Nakawuki, told MPs during a plenary sitting on Tuesday, 04 August 2026, that fencing works have commenced around Queen Elizabeth National Park, in the districts of Rukungiri and Mitooma.

She gave the update following concerns raised by Hon. Wilson Kajwengye (NRM, Nyabushozi County), who said wild animals from Lake Mburo National Park have continuously destroyed crops and water centres, and caused the death of locals.

He noted that five sub-counties in his constituency located in Kiruhura District have been incessantly attacked by wild animals, which has affected the livelihoods of the residents.

“These are people who have been food-secure for some time. But because of this, they have now been rendered food-insecure and are now destitute, hence the outrage. I pray that government supports my people with relief in form of food and planting materials,” Kajwengye said.

He also urged the Ministry of Tourism, Wildlife and Antiquities to expedite the process to close off Lake Mburo National Park with an electric fence, as well compensate affected communities.

“If the fencing cannot be done now, then trenching can be done as an immediate measure to stop wild animals from destroying crops,” Kajwengye added.

He noted that much as the Uganda Wildlife Act Cap.15 provides for compensation, it has often been meager upon payment.

“The guidelines leading to these payments are grossly unfavourable to the communities surrounding the parks. Some animals were ridiculously excluded as if they do not destroy crops. All wild animals compete for grass and forage with domestic animals,” said Kajwengye.

Among his prayers, was also a call for an increase in revenue sharing from 20 per cent to 40 per cent, as well as digging and reconstruction of communal water centers.

Nakawuki reiterated that plans are in place to construct electric fences around national parks across the country.

“But this is a very expensive venture and we are doing it step by step. Material is available and work on the fence from Rukungiri to Mitoma started last week. For Lake Mburo National Park, the Uganda Wildlife Authority already requested government for funds to do the fencing but we have not yet received that money,” she said.

She told the House that compensation of persons affected by human-wildlife conflict is determined by the Uganda Wildlife Compensation Regulations of 2022, which she said are undergoing amendment.

The Deputy Speaker, Thomas Tayebwa, tasked the Committee on Tourism, Wildlife and Antiquities to probe the concerns raised, in coordination with the Minister, and present a detailed report to the House on the matter within 45 days.

“This is an issue that touches very many colleagues here. The committee on Tourism will interact with Ministry on the regulations to do with compensation and increasing the percentage for compensation. These are things we need to look into,” Tayebwa said.

Distributed by APO Group on behalf of Parliament of the Republic of Uganda.

Source: APO

The World Health Organization (WHO) has supported Ghana’s efforts to strengthen its capacity for disease surveillance and emergency response through the provision of 205 laptop computers valued at over GHS 3 million to the Ghana Health Service (GHS) under the Pandemic Fund Project.

The equipment, procured by WHO as an Implementing Entity for the Pandemic Fund Project in Ghana, will enhance electronic surveillance and reporting systems across the country, enabling health workers to collect, analyse and share critical health information more efficiently for timely public health action.

The package includes 200 standard-specification laptops to support surveillance activities at the subnational level and five high-performance laptops to strengthen the coordination and management of surveillance operations.

The investment is expected to improve access to digital tools for surveillance officers, strengthen data-driven decision-making and contribute to Ghana’s ability to rapidly detect, assess and respond to emerging public health threats.

Speaking at the handover ceremony, WHO Ghana Country Representative, Dr Fiona Braka, emphasized the importance of resilient surveillance systems in protecting communities from health emergencies.

“Strong surveillance systems are the foundation of effective outbreak prevention and response. By equipping health workers with the necessary digital tools, we are supporting Ghana to generate timely, reliable data that informs decisions and enables faster action”, she said.

The Deputy Director-General of the Ghana Health Service, Dr Caroline Reindorf Amissah, acknowledged WHO’s continued partnership in supporting Ghana’s health priorities.

“WHO has continued to be a valuable partner in advancing Ghana’s health agenda. This support will strengthen our surveillance systems and improve the use of data for timely public health action”, she said.

The support forms part of WHO’s broader contribution to Ghana’s pandemic prevention, preparedness and response efforts under the Pandemic Fund Project, which focuses on strengthening key capacities including surveillance, laboratory systems, workforce readiness and coordination mechanisms.

Through continued collaboration with the Government of Ghana and national partners, WHO remains committed to supporting the country to build a stronger, more resilient health security system capable of preventing, detecting and responding to future health threats.

Distributed by APO Group on behalf of WHO Regional Office for Africa.

Source: APO

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The Board of Directors of the African Development Fund (https://www.AfDB.org), the concessional window of the African Development Bank Group, has approved a grant of $4.23 million to implement the second phase of a project to integrate natural capital into development financing in Africa.

The project covers thirteen countries: Burundi, Cameroon, the Central African Republic, the Democratic Republic of the Congo, Ghana, Côte d’Ivoire, Kenya, Mozambique, Rwanda, Tanzania, Togo, Zambia, and Zimbabwe.

With in-kind contributions from partner institutions such as the World Wildlife Fund (WWF), the German public agency for international cooperation on sustainable development (GIZ), the African Union Development Agency—New Partnership for Africa’s Development, the Economic Commission for Africa and the United Nations Environment Programme, the project aims to foster an environment conducive to better utilization of natural capital and its integration into political and financial decision-making processes. The various participating countries will also play a part in contributions to the project/

The project is scheduled for implementation between October 2026 and September 2029 and is expected to generate outputs in the areas of policy, statistics, institutions, and knowledge that will contribute to better integration of natural capital into development planning.

The strategy aims to strengthen policy-making systems, statistical systems, institutional frameworks, and knowledge-generation mechanisms needed by the regional member countries participating in the project and the African Development Bank Group to assess natural capital and incorporate it into public policy-making.

The project will achieve this through an integrated set of measures, including policy support, technical assistance, assessments of statistical readiness, biodiversity financing tools, pilot projects to assess green wealth, capacity building, and peer learning.

“This project is intended to contribute to development that is resilient to the effects of climate change, nature-friendly, and inclusive, by enabling African countries to better identify, measure, and manage their natural wealth, while strengthening the evidence base that informs development financing, dialogue on sovereign policies, and the mobilization of green investments,” said Innocent Onah, Chief Natural Resources Officer at the African Development Bank Group.

He added: “In the long term, this could lead to tangible improvements in the development of the target countries in terms of gross domestic product (GDP) growth, increased foreign direct investment inflows, economic development, poverty reduction, improved employment, economic competitiveness, and financial and economic risk ratings.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact:
Alexis Adélé 
Department of Communications and External Relations 
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its fifty-four regional member states. For more information: www.AfDB.org