Uganda moved closer to becoming an oil producer after UK-based Tullow Oil reached an agreement with the government over a tax dispute. Botswana plans to complete privatization of Botswana Telecommunications by April. Senegal is reportedly eyeing the launch of a debut sovereign Sukuk bond next year, with Citibank as arranger. Nigeria's efforts to revive its banking industry got a boost this month after the state-owned company acquiring bad loans from local banks announced plans to buy back nearly $15 billion of bad debts from lenders. Asset Management Corp of Nigeria had initially expected to buy $10 billion of loans.
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