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Victory Attorneys & Consultants and Exodus Investment Firm have announced the formal establishment of a Private Wealth Management Desk, a joint venture that combines investment management with high-level legal and tax structuring under a single engagement for the first time in the Tanzanian market. The platform is designed to serve high-net-worth individuals and families whose wealth management requirements extend beyond what a standalone investment manager or independent legal practice can separately provide.
Orca Energy Group agreed on 13 April 2026 to sell PAE PanAfrican Energy Corporation, the Mauritian holding company through which it holds its interest in Tanzania's Songo Songo gas field, to Taifa Gas Tanzania Limited, owned by Rostam Aziz, taking 49%, and Amber Energy Investment L.L.C-FZ, a UAE-registered entity whose ownership has not been publicly disclosed, taking 51%, for a nominal consideration of USD 10. Swala Oil and Gas Tanzania Plc, a Tanzanian company in creditors voluntary liquidation, holds a USD 167 million claim against Orca and its subsidiaries currently proceeding in LCIA arbitration in London. On 4 May 2026, Swala's liquidator proposed that Swala acquire 90% of PAEM for USD 10 plus discontinuance of the LCIA claims plus assumption of Tanzania Revenue Authority contingent liabilities. Orca did not respond. On 18 May 2026, Swala improved its offer to USD 3,966,500 plus the same terms. Orca did not respond again. Swala's liquidator, Advocate Daniel Welwel of Asyla Attorneys, published the creditor update on 20 May 2026 making both offers known to the market. Swala's proposal is, by Orca's own August 2024 valuation, approximately USD 120 million better than the Taifa and Amber deal. The transaction remains subject to regulatory approvals including Tanzania Fair Competition Commission clearance, ministerial approval for petroleum, Orca shareholder vote, TSX Venture Exchange acceptance, and IFC guarantee release. This article establishes Songo Songo's strategic significance, reports the transaction and dispute in full, and identifies the ownership transparency and gas sector governance questions whose resolution the field's future requires. Orca has agreed to sell Tanzania's most important domestic gas field for USD 10 to a consortium that includes a company whose ownership has not been disclosed. A Tanzanian company in liquidation has made a better offer twice. Orca has not responded to either. Tanzania's gas sector governance framework will determine what happens next.