The South African Sanlam acquires the insurance business of the Moroccan group Saham … which will evolve into a pan-African investment fund

After a negotiation that lasted for several months, the South African service group and financial insurer Sanlam has just increased its stake in the capital of insurance subsidiaries of the Moroccan group Saham from 46.6% to 100%.

This acquisition, subject to the agreement of the various regulators concerned, was concluded for an amount of $ 1.05 billion on the basis of a valuation of $ 158 per share.

It will enable Sanlam, with a market capitalization of $ 16 billion, to strengthen its presence on the African continent thanks to the 35 insurance companies in 26 countries that make up Saham’s insurance division.

Ian Kirk, Managing Director of the Sanlam Group, said: “We look forward to strengthening our investment in the Kingdom of Morocco, which is a formidable continental platform at the gateway to Europe and which enjoys institutional and macroeconomic stability . Our investments alongside the SAHAM group represent a real winning model of inter-African partnership. We hope to achieve other major projects together in the future. “

At the same time, Saham bought back the shares held by the French group Wendel in its shareholding and began its transformation into a pan-African investment fund. A strategy confirmed by Moulay Mhamed Elalamy, Administrator and spokesperson of the Saham Group.

“The DNA of the Saham Group lies in its ability to bring together leading international investors, such as the World Bank, Kingdom Zephyr, Abraaj, Allianz, Bertelsmann, Wendel and more recently the Sanlam Group. As part of its transformation into an African fund, Saham will now attract new partners, to break new ground, and invest in future-oriented businesses, accelerators of development for our country and our continent “

At the end of all these operations, SAHAM will have drained a total of $ 1.7 billion in foreign investment since 2012.

Bolloré Logistics ships and delivers two tamping machines for the Eiffage Group in Senegal

On the regional express train (TER) project linking Dakar to Blaise Diagne International Airport in Diass (50km), the Eiffage Group entrusted Bolloré Logistics with the shipment and delivery of two tampers (railway machines used to position the tracks).

Both machines, which are 19 meters long, 3 meters wide, 4 meters tall and weight 75 and 64 tons respectively, were unloaded by the teams from the Dakar Terminal company in early January 2018.

Then, Bolloré Logistics used two 200 t cranes to transfer these tamping machines from the MAFI trailers at the port to the tank transporters provided to transport the machines. A special convoy, composed of a 120-ton tank transporter, a six-wheel heavy load tractor and a hydraulic trailer, was set up to make the delivery within two days.

The delivery took place at two sites, the Dakar train station and the town of Bargny, located 30 km from Dakar. Through close collaboration with the handling teams of the Dakar Terminal and members of the project follow-up committee and thanks to the support of the Eiffage Rails teams, who have put in place specific devices to facilitate the accessibility of transport and lifting equipment, the operations could be conducted with full success.

Contract signed for the new Yamoussoukro stadium

A consortium consisting of the subsidiary of Vinci Sogea-Satom (agent), Egis, Baudin Chateauneuf and Alcor is entrusted with the contract for the design and construction of the Yamoussoukro staidum, capital of Ivory Coast.

This agreement was signed on March 1, 2018 with the Minister of Sports and Recreation Mr. Francois-Albert Amicha in the presence of Mr. Gilles Huberson, Ambassador of France in Ivory Coast.

The stadium, designed by SCAU Architects, will accommodate 20,000 spectators at the African Cup of Nations (CAN) matches, which will take place in 2021.

The work will start during the month of April and should least 2 years.

Work for the Tema Port Platform in Ghana started for Eiffage

On site, the concrete plants and bungalows have been installed and 6000 m2 of earthworks have already been made during the last week of February by Eiffage Génie Civil.

The work, which will last 26 months, includes general earthworks, dry and wet networks, the pavement structure, the production and laying of some 42 million pavers, the construction of portals and access roads to the site, as well as the creation of a power generation plant and the installation of various equipment (shore and port portal power supply, automatic barriers, lighting, control systems …).

The signing of the contract for this 104 million euro project with Meridian Port Services (composed of Bolloré Transport & Logistics, APMT and Ghana Ports and Habour Authorit) had been concluded in 2017.

New oil discovery for SDX

British oil and gas company SDX Energy, which specializes in North Africa, has just announced that an oil discovery has been made on its Rabul 5 Well in the West Gharib Concession in Egypt. The well, drilled to a depth of 1609 m, has discovered about 46 m of net crude oil.

“We are pleased to continue our recent run of drilling success with this oil discovery at Rabul 5. This well encountered the thickest section of pay sands seen in the Rabul area to date, demonstrating the significant oil potential contained within the licence. We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the licence and achieve our ambitious production plans for 2018.” : commented Paul Welsh, President and CEO of SDX.

The 3 world’s largest STS Cranes for the APM Terminals MedPort Tangier

Opening in 2019, the APM terminals Medport of Tangier in Morocco will be equipped soon with three of the newest and largest ship-to-shore cranes in the world. The STS, weighing 2500 metric tons each, are 144 meters high when boomed up and have a 72 meters high outreach with tandem lift capacity. The three cranes have been designed to handle vessels and carrying 22000 containers for the Asia/Europe trade lane. The terminal under construction will be equipped with the latest technology, which « ensures greater cargo-handling efficiency and enabling more capacity » according to the Maersk’s Transport and Logistics part.

315 vehicles from Greece to Egypt

Cosmatos Shipping Services has successfully transported 315 cars from Greece to Egypt. The company has shipped this brand new cars in two lots via Thessaloniki port.

CSS arranged the offloading from trucks, temporary storage within Thessaloniki port Free Zone, transit formalities, loading on a car carrier vessel by private gang and the issuance of shipping documents.

Magna MA04 for dump trucks in a diamond mine in South Africa

Southern African mining operator uses  24.00R35 Magna MA04 tyres for their Rigid dump trucks. The OTR tyres have now been mounted on all of their dump trucks and are used for the transport of the extracted raw minerals. In addition to tyres for the rigid dumpers, also their ADT’s are equipped with Magna.

The Magna MA04 is designed for dump trucks in heavy-duty mining conditions. The improvement shoulder and sidewall protection offer resistance to damage and different compounds are available to optimise performance for different applications.

Daimler Trucks opens up to Middle-Eastern and African markets

Daimler Trucks took the decision to commercialize its Actros and Arocs trucks on more than 40 new African and Middle-Eastern markets. The launch of these machines is an important step forward for the overall growth strategy campaign of Daimler Trucks in these regions. Stefan Buchner, Head of Mercedes-Benz Trucks, explained their « Our Mercedes-Benz trucks Actors and Arocs have proved that they can be relied on.(…) We are now taking our latest Actros and Arocs models to the markets there, with the aim of leveraging the momentum being experienced across these regions. »

In 2017, Daimler sold more than 35000 vehicles under the Mercedes-Benz and Fuso brand names across the Middle East, North Africa and sub-Saharan Africa, some 20 percent more than in the year before.

Total takes 16.33% stake in the Waha concessions in Libya

Total has announced that it has acquired Marathon Oil Libya Limited, which holds a 16.33% stake in the Waha Concessions in Libya. This transaction gives Total access to reserves and resources of more than 500 million barrels of oil equivalent per day (boe/d), with an immediate production of around 50.000 boe/d and a exploration potential across the area of 53 000 km2 covered by the Concessions in the Sirte Basin.

“This acquisition is in line with Total’s strategy to reinforce its portfolio with high quality and low-technical cost assets whilst bolstering our historic strength in the Middle East and North Africa region,”said Patrick Pouyanné, Chairman and CEO of Total. The amount of this operation is more than 365 million Euros.

Photo : © Alfredo Caliz/ Panos-REA