Côte d’Ivoire’s PETROCI appoints Fatoumata M’Balou Sanogo as new CEO

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Fatoumata M’Balou Sanogo, former Total Energies well engineering expert, has been appointed to run Côte d’Ivoire’s state-controlled oil firm PETROCI Holding.
The company, Tuesday July 18, in a statement said the board of directors made three decisions including the appointment of F. Sanogo.
She is replacing former CEO Vamissa Bamba, removed from the position. “With her long and rich experience in the oil industry, Fatou Sanogo brings her expertise to Côte d’Ivoire, which is in the midst of developing its oil potential with the latest discoveries in the Baleine field”, the holding said in the statement.
The graduate from UK-based Hult International Business School and Institut national polytechnique Houphouët-Boigny de Yamoussoukro, before her appointment, was CEO of Abidjan-based MARINE & OIL SERVICES INTERNATIONAL until June 1st this year.
She also previously worked at ExxonMobil, TotalEnergies, Eni, Halliburton and Schlumberger. Baleine field reportedly boasts 2 billion barrels of oil and 2.4 billion cubic feet of natural gas. ENI is expected to operate the field.

Chadian leader pardons 110 protestors arrested in October 2022 demonstrations
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Mahamat Idriss Déby Itno, leader of the transition in Chad, has freed 110 rioters arrested in October 2022 in nationwide protests against a national dialogue decision to maintain the son of former leader Idriss Deby Itno, in power and to lead the transition.
“People tried and convicted for acts of unauthorized assembly, intentional assault, arson and destruction of property following the events of October 20 will benefit from a presidential pardon,” a decree disclosed on Tuesday July 18 by Chadian leader said.
Authorities in October 2022 arrested over 600 people in connection with illegal protests in several cities of the countries including capital N’Djamena to reject the choice of Mahamat Idriss Déby Itno to lead the transition, following a national dialogue brokered by Qatar.
The 110 people were tried and sentenced to between 18 months and 5 years in prison. Prior to the decree, 436 other people sentenced for taking part in the October 20 protests, were also released in less than four months.

U.S provides Tunisia with four T-6C training aircraft
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The United States provided Tunisia with four T-6C training aircraft in a move to support the North African country’s Defense ministry’s efforts to enhance the air forces’ ability to meet security challenges and humanitarian needs.
The ministry in a statement, “Arab News” reports, said on Tuesday July 18, the aircraft came as part of cooperation to renew its fleet of training aircraft for the air force.
Imed Memich, the Defense minister, indicated that the new aircraft would provide the air force with advanced training capabilities. The US Ambassador in Tunisia, Joey R. Hood said Washington was committed to support the Defense ministry’s efforts to enhance the air force’s ability to meet security challenges and humanitarian needs.
Tunisia is a key U.S strategic partner and receives several support including defense contributions from Washington. Last month, four Tunisian soldiers died after a military aircraft crashed into the sea, an accident that President Kais Saied attributed to an aging military fleet.

Burundi secures $271m loan facility from IMF to support economic reforms
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The International Monetary Fund’s executive board has rubber-stamped a $271 million Extended Credit Facility meant to address the country’s protracted balance of payments needs, rebuild external buffers and support the government’s reform agenda.
The Washington-based financial bilateral lender will per the decision, disburse $62.6 million immediately.
The loan is Burundi’s first Upper Credit Tranche-quality arrangement with the IMF since 2015. The lender in a statement said it expected the loan to “catalyze donor funding, which is essential to cater to Burundi’s large financing needs and support its exit from fragility”.
The eastern African country’s economy has been hit by several shocks, halting its recovery from the negative effects of the Covid-19 pandemic and heightening its macroeconomic imbalances.
The country also suffered delayed rainfall in the last quarter of 2022 and limited availability of fertilizer — driven by higher prices in the context of limited foreign exchange (FX) availability for imports, supply disruptions linked to the war in Ukraine, and insufficient domestic production to cover local farmers’ demand — hampered agricultural production.
For Burundi, inflation averaged 18.9 percent in 2022 and has continued accelerating (28.6 percent year-on-year at the end of January 2023), driven by food prices. “It is projected to remain high, at around 18 percent in 2023”, IMF informed.