Taqa Arabia unit inks binding deal for Tanzania’s first small-scale LNG plant

Taqa Arabia’s LNG arm Rosetta Energy Solutions signed a binding gas sale agreement to develop Tanzania’s first small-scale liquefied natural gas (LNG) plant with the Tanzania Petroleum Development Corporation and pan‑African investor Africa50, according to a bourse filing (pdf).

IN CONTEXT- It’s a commercial upgrade from the heads of terms the same three parties signed back in May 2024 (pdf). Rather than supplying a single industrial customer (Elsewedy Industrial City), the East Africa LNG project now aims to liquefy domestic gas for industrial, residential, and transport customers across Tanzania who sit outside the existing pipeline network, with commercial operations targeted to begin in 2027. The move follows a broader regional LNG push by the company, which inked similar framework agreements with Equatorial Guinea in 2022 and Mauritania in 2023.

A Manara makeover

Advisory group Exits Mena and the local management of private equity firm Avanz Capital Egypt (Ace) are buying out the latter. The group has agreed to acquire 100% of Ace, an FRA-regulated private equity and asset manager, in a “multi-seven-figure” transaction that has already secured initial FRA approval, according to a joint statement (pdf). The identity of the seller and other deal terms were not disclosed.

PLUS- Ace is getting a new name: Ace will rebrand as Exits Manara, with CEO and Managing Director Haytham Wagih and the existing investment team remaining in place. The business will continue managing Manara 1 — described by the parties as its existing SME-focused fund-of-funds vehicle — and plans to launch Manara 2 for Export Investments, targeting mid-sized exporters. Ace most recently bought a secondary LP stake in Algebra Ventures’ second fund last September, as we reported at the time.

Playing catch-up

Al Ahly Momkn is studying the launch of a digital bank, Al Mal reports, citing CEO Ahmed Farouk Ghazi. However, the company has not disclosed a launch date. It is also targeting EGP 300 bn in transaction value by the end of 2026.

IN CONTEXT- Al Ahly Momkn is backed by two state-owned financial players: E-finance and the National Bank of Egypt (NBE). The former acquired 25% of the company in 2024, with the latter holding the remaining 75% at the time. Al Ahly Momkn’s study comes as earlier entrants advance: Banque Misr’s Onebank received final CBE approval in August 2025 and was expected to begin public services in 2026. Meanwhile, CIB said it planned to invest EGP 300 mn in a new digital arm over three years, with a full rollout anticipated later in 2026.

More on our radar:

• Egypt has extended Apache Corporation’s exploration concession for five years, covering around 3.4 mn acres of exploration territory. (Alarabiya)
• AT Lease has appointed FACT Financial Advisors to prepare a fair-value study for its shares, as required by the FRA, following Al Baraka Bank Egypt’s proposed share-swap mandatory tender offer for up to 90% of the company. (Statement, pdf)

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