Category: Reportage

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Red Sky Energy Secures 35% Stake in Block 6/24, Eyes New Deals in Angola

Source: Africa Press Organisation – English (2) – Report:

LUANDA, Angola, January 16, 2025/APO Group/ —

Australian exploration and production company Red Sky Energy has made its first foray into Africa’s oil and gas market, acquiring a 35% stake in Block 6/24, offshore Angola. Speaking exclusively to Energy Capital & Power (www.EnergyCapitalPower.com), the company’s CEO Andrew Knox cited the Angola Oil & Gas (AOG) conference as pivotal to making the deal happen. Knox participated in a panel discussion during AOG 2024 and the company’s Block 6/24 acquisition underscores the impact the event plays as a platform for engaging with the industry and securing deals.  

What specific factors made Angola an attractive destination for Red Sky Energy’s first international venture? 

Red Sky Energy has been looking at certain opportunities [across the continent] for the last three years and found there are significant opportunities in Angola. The deal we signed represents our first foray into the African continent and is extremely exciting for us. Angola’s production is circa 1.1 million barrels a day and is a well-established market. We focus on proven resources or developed assets, and those with discovered resources that we can use our expertise to develop and bring to market. In Angola, we are seeing plenty of opportunity to do just this. There are a lot of smaller fields situated nearby established infrastructure.  

Currently, for our first entry, we were not looking to operate. We would like to get comfortable in the market and engage with all the players first. However, we are not married to the idea of non-operator. We will also look at operating positions in the future. There is a lot of oil in Angola, with good opportunities and a very supportive government. What the country has done in recent years – with changing their structuring, the establishment of the National Oil, Gas & Biofuels Agency and the improvement of the fiscal terms – is what has attracted us to the market.  

Please elaborate on the potential of Block 6/24, particularly the significance of the Cegonha oil discovery? 

We acquired this interest through direct negotiation with the government. Block 6/24 is located approximately 12km from Luanda and the refinery, which is very convenient for us. It also has an existing well and the Cegonha oil discovery, making it the perfect opportunity for first-entry into the country. The crude is heavy, with an API of roughly 20. However, there is production of that sort of crude in nearby fields, so it won’t be a problem for us to produce, potentially sign an offtake agreement and get the crude to the Luanda refinery.  

How do you envision the partnership with Sonangol and ACREP contributing to the development of Block 6/24?  

We have partnered with Sonangol, the national oil company, as well as ACREP. We have a 35% stake, Sonangol will operate with 50% and ACREP with 15%. Firstly, Sonangol knows the market. They are on the ground in a big way, and so for us, there are no challenges associated with bringing a foreign operator to the country for the first time. Sonangol is well established and has good connections in country. Secondly, ACREP is also a national company. They are a smaller player but quite nimble and we are impressed with their solutions in terms of the way we develop the field.  

The agreement outlines extensive geological and geophysical studies over three years and a potential drilling decision in Year 4. What key milestones does Red Sky Energy hope to achieve in this timeline? 

We are looking at studies and possibly reprocessing existing seismic data. There is approximately 3,000 km² of seismic on the license and we will look to potentially reprocess that partially and assess how to develop the field. On the way forward: do we re-enter the existing well? Will we do a sidetrack or a new appraisal well? This is what we are currently analyzing. We are not waiting three years to drill the well; this is just the timeframe for when we need to make a decision to drill. Obviously, we are looking to see if we can bring that timeframe forward.  

Beyond Block 6/24, what are Red Sky Energy’s long-term ambitions in Angola? 

We are looking at a lot of opportunities in Angola. We hope to create a major profit center for the company in the country. But we are focusing on existing discoveries or those in production – we won’t be looking outright at exploration at this point in time.   

What role did Angola Oil & Gas 2024 play in facilitating the deal?  

Angola Oil & Gas was instrumental for us in so many ways. It was our first participation at the conference and we were able to meet everyone. Everyone from the industry attends the event and it was exceptionally helpful for us. We were very pleased with the way the conference went and we learnt a lot from it. It was very well set-up and well-run conference. In 2025, we will definitely be attending again. In summary we are pleased to now be involved, we are looking at other opportunities and it is a wonderful place to do business in the oil and gas space. We will certainly be pursuing other prospects in Angola – watch this space.  

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Congo’s Energy Growth: Service Providers Key to Unlocking Hydrocarbon Potential

Source: Africa Press Organisation – English (2) – Report:

BRAZZAVILLE, Republic of Congo, January 16, 2025/APO Group/ —

With ambitions to boost oil production from 270,000 to 500,000 barrels per day in the next few years, service providers are instrumental in shaping the growth of the Republic of Congo’s exploration and production sector. Alongside this, the country’s focus on gas sector development – supported by its upcoming Gas Master Plan and new Gas Code and designed to unlock 10 trillion cubic feet of natural gas – opens additional avenues for service companies, particularly in gas field development, infrastructure and associated services.

Energy Service Contracts Driving Growth

As the Congo’s energy sector expands, service contracts are a driving force behind the development of key energy projects. A prime example is the recent contract awarded to Turkish power company Aksa Enerji, which aims to increase production at the Djeno gas-to-power plant to 100 MW. The upgrade involves adding two 25 MW turbines, along with rehabilitating the existing turbines. This development underscores the pivotal role of service companies in upgrading infrastructure to meet the growing energy demands of the Republic of Congo.

In parallel, towage and maritime services are essential to offshore gas projects. Last August, Kotug International, a towage and maritime company, secured a contract from energy major Eni to provide marine services for the Congo LNG project. The scope of the contract includes deploying three rotortugs for vessel mooring and unmooring operations, standby services and pilot transport. The agreement also highlights Kotug’s commitment to supporting local content development and sustainability by collaborating with local suppliers and utilizing local resources.

Partnerships and Agreements Fueling Development

Strategic service partnerships also play a key role in the country’s energy growth. TotalEnergies and Vantage Drilling recently formed a joint venture to operate the Tungsten Explorer drillship offshore Congo for the next decade. The partnership emphasizes how service contractors support the development of critical energy infrastructure and offshore operations. Additionally, China’s Wison Heavy Industry has entered into an agreement with Baker Hughes to collaborate on FLNG and onshore LNG applications in the Congo. This deal illustrates how service companies are helping streamline operations and standardize technical solutions in the Congo’s growing natural gas sector.

Downstream Services Driving Domestic Development

While the Congo is rich in oil resources, the country’s refining capacity is currently insufficient to meet domestic demand, creating a valuable opportunity for service companies to engage in downstream infrastructure development. The upcoming $600 million Atlantic Petrochemical Refinery, being developed by Beijing Fortune Dingheng Investment, will provide a range of refined petroleum products to meet domestic needs. Service companies will play an essential role in the construction, operation and maintenance of the refinery, contributing to the country’s self-sufficiency in refined products.

Additionally, the Banga Kayo onshore project by Wing Wah will see the drilling of approximately 250 wells with a peak output of 80,000 bpd. This initiative highlights the importance of service companies in both upstream development and refining operations, as the project is expected to process gas into LNG, LPG and other byproducts.

Role of Service Providers in the Congo’s Energy Transformation

With significant investment in both upstream and downstream energy infrastructure, service companies are at the heart of the Republic of Congo’s energy transformation. As the country strives to meet its energy goals, the importance of service contracts – ranging from power plant upgrades to marine and drilling services – cannot be overstated. These partnerships are crucial to unlocking the full potential of the Congo’s oil, gas and energy sector, and will continue to drive the country’s economic and energy growth.

The inaugural Congo Economic & Investment Forum, set for March 25-26, 2025 in Brazzaville, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

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Tanzania’s Maasai are being forced off their ancestral land – the tactics the government uses

Source: The Conversation – Africa – By Teklehaymanot G. Weldemichel, Lecturer in Environment and Development, University of Manchester

Tanzania has a long and troubling history of evicting communities from their lands. This has happened under the guise of expanding protected conservation areas, which make up over 40% of its territory.

In recent years, the Maasai of the Ngorongoro district – a region renowned for abundant wildlife and the iconic Ngorongoro Crater – have been the target of these evictions. They’ve faced threats to their nomadic lifestyle, centred on cattle herding.

The government claims the evictions are necessary to protect the environment from a large Maasai population. Currently, around 100,000 Maasai reside within the protected area.

The reality, however, is that the right of the Maasai to use that land is being taken away by the government. The land is then leased to expand lucrative wildlife tourism and elite hunting grounds. Tourism, mostly driven by wildlife, constitutes over 17% of the country’s GDP.

The evictions have become more frequent, more violent and more widespread under Samia Suluhu Hassan, who assumed the presidency in 2021. Over the past few years, Maasai have been shot, detained and abused by government forces. This has sparked an outcry from local communities, activists and academics.

Members of the Maa unity agenda protest in Nairobi, condemning the forceful eviction of the Loliondo Ngorongoro Maa community by the Tanzanian government, on 17 June 2022. Photo by TONY KARUMBA/AFP via Getty Images

Among these voices is Maria Tsehai, a prominent Tanzanian activist who was recently abducted, and then released, in Nairobi, Kenya. Her abduction – likely part of the broader crackdown against Tanzanian government critics – has drawn attention to the repression of those opposing policies to relocate Maasai communities.

I have over several years researched conservation policies and practices in east Africa, including Tanzania.

In a paper published in 2022, I unpacked the ways in which the Tanzanian authorities, in collaboration with global conservation and tourism actors, have implemented policies forcing Maasai communities to abandon their ancestral lands. This was done through conservation management plans that undermine the interests of local communities and traditional livelihoods. The ability of the Maasai to meet their needs was also limited, for instance through restricting their access to social services.

As a result, nearly all the 100,000 Maasai living within the Ngorongoro conservation area face extreme poverty.

This impoverishment is being used to justify evicting them from ancestral lands.

Evictions for ‘conservation’

When the Ngorongoro Conservation Area was established in the late 1950s, it was meant to both conserve wildlife and safeguard the interests of the Maasai. At that time it was home to about 8,000 people.

Over time, successive policies neglected and deliberately undermined the interests of the Maasai community. This has been happening for more than six decades.

Since 2022, local media have reported that about 9,778 people have relocated from the conservation area. But the intention is for most to eventually be removed.

International conservation organisations – such as Frankfurt Zoological Society and Unesco (the United Nations Educational, Scientific and Cultural Organisation) – have played a part in this. They provided narratives that enabled the Tanzanian government to justify its violation of Maasai rights within the conservation area.

The former director of the Frankfurt Zoological Society, Bernhard Grzimek, in particular, advocated for the removal of the Maasai since the early days of the conservation area’s establishment.

In assessment reports, Unesco’s World Heritage Committee similarly requested the Tanzanian authorities to “voluntarily” relocate residents by “increasing incentives to relocate”. This is because the conservation area is a world heritage site.

Tourism actors are also complicit in the evictions. For them the Maasai may be seen as an inconvenience or competitors for resources, such as water.

Removal strategies

Various policies push the Maasai to relocate.

First, while local communities are allowed to live in the conservation area, this was made legally contingent on their strict adherence to nomadic pastoralism. Pastoralist lifestyles are considered compatible with wildlife conservation. This means Maasai can remain in the area only as livestock producers, reliant on seasonal migration. Permanent settlements are largely prohibited. These conditions restrict the Maasai from diversifying their livelihoods beyond livestock production.

Second, though authorities advocate for traditional pastoralism, they simultaneously undermine it. Through laws, mobility is restricted; for instance they can only graze in certain areas. Access to critical dry-season grazing areas and water points is limited. These are fundamental requirements for nomadic pastoralism. As a result, the productivity of pastoralism has drastically declined.

Third, the Maasai communities in the conservation area have, for a long time, been deprived of social services. This includes education and health. Investments by both the state and other actors in social infrastructure, such as schools and hospitals, are also prevented.

The impoverishment that the Maasai face as a result of these policies is being used as a justification for their eviction. More than 80% of the population lives under the poverty line and nearly 74% of the population have no formal education. Authorities claim that resettlement is in the Maasai’s best interest.

These tactics have thus made the Maasai more vulnerable to displacement and their land easier to appropriate. Marginalised and impoverished, many Maasai either relocate on their own or are coerced into “voluntary” resettlement.

Conservation-related injustices

The ongoing dispossession and abuse of the Maasai, and other communities in Tanzania, raises urgent questions about global conservation agendas, state power and local community rights.

This is not unique to the Ngorongoro conservation area or Tanzania. Similar land grabs and evictions of marginalised communities, under the guise of nature protection, are occurring in many places across the world. As global alarm over biodiversity loss intensifies, the drive to expand protected areas has gained momentum.

However, such conservation efforts often mask power dynamics that result in the dispossession of vulnerable populations. It is vital to scrutinise how these policies are implemented at the local level.

Without accountability and genuine inclusion of local communities, such initiatives risk perpetuating the very inequalities and biodiversity loss that they claim to address.

– Tanzania’s Maasai are being forced off their ancestral land – the tactics the government uses
– https://theconversation.com/tanzanias-maasai-are-being-forced-off-their-ancestral-land-the-tactics-the-government-uses-247349

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Gabon Oil Company (GOC), Gambia National Petroleum Corporation (GNPC), Uganda National Oil Company (UNOC) and South Africa National Petroleum Corporation (SANPC) at Invest in African Energy (IAE) 2025: African National Oil Companies (NOCs) Seek Strategic Partners for Growth

Source: Africa Press Organisation – English (2) – Report:

PARIS, France, January 16, 2025/APO Group/ —

Africa’s leading national oil companies (NOCs) are set to take center stage at the Invest in African Energy (IAE) 2025 Forum (www.Invest-Africa-Energy.com) in Paris, unveiling ambitious national energy agendas and seeking strategic international partnerships to advance the continent’s energy development. Scheduled for May 13-14, 2025, the forum offers a unique platform for Africa’s top NOCs to engage with global investors, share insights on emerging opportunities and discuss the pivotal role of energy in economic growth. Featured speakers include:

  • Godfrey Moagi, CEO, South Africa National Petroleum Corporation (SANPC)
  • Marcellin Simba Ngabi, CEO, Gabon Oil Company (GOC)
  • Baboucarr Njie, Managing Director, Gambia National Petroleum Corporation (GNPC)
  • Lyoidah Kiconco, Head of Exploration & New Ventures, Uganda National Oil Company (UNOC)

​​Officially launched in September, South Africa’s state-owned petroleum company SANPC is seeking to address energy shortages and drive economic growth through strategic investments in natural gas, hydrocarbon exploration and renewable energy. Key initiatives include LNG terminals at Coega and the Port of Ngqura, gas-to-power projects at Saldanha Bay and Richards Bay and offshore gas exploration in the Southern Cape. In 2025, SANPC will focus on forming strategic partnerships, with an emphasis on collaboration across the SADC region.

IAE 2025 (www.Invest-Africa-Energy.com) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com.To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Following major acquisitions, including assets from Assala Energy and a 15% stake in the Baudroie oil field, GOC has significantly expanded its production capacity, targeting 220,000 barrels per day through accelerated exploration and redevelopment of mature fields. Historically a partner to foreign operators, GOC is now strengthening its upstream operations, adopting advanced technologies and consolidating national oil assets to boost production and transform into a competitive energy player in Gabon.

Meanwhile, GNPC is driving efforts to maximize the country’s hydrocarbon potential. With promising offshore prospects near Senegal’s Sangomar field, including the Bambo prospect estimated to hold up to 1.2 billion barrels of oil, GNPC is actively advancing exploration through partnerships like its 2023 agreement with the Nigerian National Petroleum Company – involving geological studies, seismic data analysis and potential drilling – while the extension of FAR’s permits for the A2 and A5 blocks through 2025 has opened further exploration opportunities.

UNOC is leading Uganda’s oil and gas ambitions, with its flagship Tilenga and Kingfisher projects on track to deliver first oil by 2025, alongside the East African Crude Oil Pipeline, which will revolutionize regional oil logistics. Additionally, UNOC is advancing exploration in the Moroto-Kadam and Kyoga basins, with preliminary studies aimed at uncovering new oil fields to diversify production. To support these efforts, Uganda has significantly increased its oil and gas sector budget from $120 million to $246 million for the 2024/2025 period. As one of the final frontiers for oil and gas exploration, Uganda remains a key investment destination, prioritizing capacity building and value chain integration.

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African countries need more PhD graduates but students are held back by a lack of money and support

Source: The Conversation – Africa – By Oluwatomilayo Omoya, Lecturer in Nursing (Teaching and Reseach), Flinders University

Over the past 15 years there’s been an increasing demand from within and outside the higher education sector for African countries to produce more PhD graduates. For this to happen, it’s important to know what’s holding people back from pursuing or completing their doctoral degrees. The authors of a new review article did just that, with a focus on South Africa, Kenya, Ethiopia, Uganda and Nigeria. Five themes emerged from their work: PhD candidates’ sociodemographic profiles, access to funding, the availability of resources and training, experiences with PhD supervisors, and personal coping mechanisms.

The Conversation Africa spoke with the paper’s authors, Oluwatomilayo Omoya, Udeme Samuel Jacob, Olumide A. Odeyemi and Omowale A. Odeyemi, to learn more about their findings.

Why is it important for African countries to produce PhD graduates?

PhD programmes have been shown to play a crucial role in advancing research, innovation, and economic and scientific progress.

That’s because the more research capacity a country has, the more likely it will be able to address gaps in healthcare, economic barriers and food insecurity. This point has been emphasised by, among others, the World Health Organization (WHO) and the African Union.

Doctoral education builds academic expertise. This drives growth across multiple sectors, such as health, education and technology. It also fosters an environment where creative and practical solutions to local challenges can thrive.

What are some of the main obstacles PhD students faced in the countries you studied?

Our study was a scoping review. This research method allowed us to broadly survey existing studies and identify key concepts, evidence types and knowledge gaps. The review included articles from different African countries, among them South Africa, Kenya, Ethiopia, Uganda and Nigeria.

One of the biggest hurdles we identified for PhD students is a lack of resources. Many of the continent’s universities are underfunded. They struggle to offer their staff and students adequate research facilities, libraries and even internet access.

Read more: Want to do your PhD in Africa? Here’s what you need to know

Another major challenge is the shortage of quality doctoral supervision. In many African universities, the number of qualified supervisors is far lower than the number of doctoral candidates. This imbalance means that some students receive little attention. Their progress may suffer as a result.

A PhD is, by nature, a solitary pursuit. But without the proper support, students can feel disconnected from the academic community. This sense of isolation can increase dropout rates and hinder the completion of research projects.

Read more: South African universities need to better support doctoral supervisors

Supervisors are frequently overwhelmed with other responsibilities – their own research, administrative duties, or teaching large undergraduate classes. This leaves them with limited time to mentor PhD students. The students they’re tasked with supervising can end up feeling isolated.

Personal funding is also hard to come by. Scholarships are rare and, when they are available, they don’t always cover all the student’s expenses over the course of their research. Many students must work full-time jobs to support themselves while pursuing their doctorate. This can severely affect their ability to dedicate time to their studies.

Even in cases where funding is available, it’s often linked to short-term projects or grants that don’t allow students to finish their research without interruption. This leads to long delays in graduation rates, which creates a bottleneck effect: students remain stuck in the system for years, clogging the flow of new researchers entering academia.

Read more: PhDs are important for South Africa’s growth: more support for doctoral candidates who work full-time is key

Another challenge is that African doctoral students who do succeed may leave their home countries for better opportunities abroad. The so-called “brain drain” phenomenon has a profound effect on Africa’s ability to build a strong academic community. While many African PhD students go on to do groundbreaking research in Europe, North America or Asia, their departure means their home institutions – and countries – lose valuable knowledge and experience.

Brain drain is not just about better salaries or living conditions; it’s also about the availability of cutting-edge research opportunities. Once abroad, many students are able to access better resources and then choose to stay in environments that allow them to thrive professionally.

What role does gender play in the likelihood of completing a PhD?

Women pursuing PhDs face additional challenges that their male peers do not. We found that women PhD students frequently face gender biases, both socially and professionally, that make it harder to fulfil their academic goals.

Over the past decade, the number of women enrolling in PhD training in some countries, such as Ethiopia and South Africa, has increased.

However, women are less likely than men to complete their doctoral studies, partly because of the cultural expectations and responsibilities they bear. Female students who are married or have children must often balance managing their households and care-giving responsibilities with pursuing their studies.

In regions where family is traditionally prioritised over career aspirations, women may feel an added layer of guilt or societal pressure, which can lessen the time they have to focus on research.

Moreover, in areas where colonial or apartheid legacies still influence societal structures, Black women in particular report additional barriers. They say they feel overlooked or underestimated in academic spaces.

There has been some progress. Organisations like the Consortium for Advanced Research Training in Africa (Carta) offer programmes that support women throughout their academic journeys. However, a greater, gender-responsive approach is needed to ensure that women have access to resources, mentorship and flexible support systems that address these unique challenges.

Increasing support for women in PhD programmes isn’t just about numbers. It means institutions and the wider society must address the structural and cultural barriers that hold women back.

Are there solutions to the issues you’ve identified?

The challenges facing doctoral students in Africa are complex, but not impossible to overcome.

With the right investments and a commitment to reform, universities on the continent can grow into global centres of excellence in research and development. It’s vital for societies not to lose sight of the importance of higher education. As we’ve said, and as a large body of evidence shows, strong doctoral training programmes and investing in research and innovation to address the challenges faced by the African continent are key to ensuring that the next generation of researchers and innovators can lead the way in solving some of the world’s most pressing problems.

Governments, universities and funding organisations can collaborate by providing scholarships and research grants, creating gender equality policies, and introducing mentorship programmes or improving those that already exist.

– African countries need more PhD graduates but students are held back by a lack of money and support
– https://theconversation.com/african-countries-need-more-phd-graduates-but-students-are-held-back-by-a-lack-of-money-and-support-243946

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Africa Finance Corporation (AFC) Earns Top AAAspc Rating from S&P Global (China) Ratings, Further Enhancing Capital Diversification Opportunities

Source: Africa Press Organisation – English (2) – Report:

LAGOS, Nigeria, January 16, 2025/APO Group/ —

Africa Finance Corporation (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has received the highest issuer credit rating, an AAAspc with a stable outlook, from S&P Ratings (China) Co., Ltd. (S&P Global (China) Ratings), demonstrating AFC’s exceptional financial strength, disciplined capital management, and expanding access to diversified funding. It is the second AAA rating awarded to AFC following equivalent recognition by China Chengxin International Credit Rating Co. Ltd (CCXI).  

S&P Global (China) Ratings’ AAAspc rating reflects AFC’s robust liquidity, superior governance framework, and its consistent delivery of strategic objectives. The agency praised AFC’s ability to maintain strong asset quality and sufficient capital buffers, even under challenging economic conditions. “AFC has a very solid liquidity buffer which enables its normal functioning in adverse market and economic conditions,” S&P Global (China) Ratings wrote. Additionally, “AFC is committed to a diversified funding strategy and expands its funding base on a global scale.”  

“Receiving this AAAspc rating solidifies AFC’s position as the resilient and reliable bridge connecting Africa to global capital,” stated Samaila Zubairu, President & CEO of Africa Finance Corporation. “This prestigious recognition not only highlights our financial resilience but also underscores our strategic role in leveraging dynamic capital markets to channel investment into transformative infrastructure projects. It reaffirms our commitment to building a more industrialised, integrated, and prosperous African future.” 

Banji Fehintola, Executive Board Member & Head, Financial Services at AFC, added: “This AAAspc rating from S&P China showcases AFC’s reputation as a world-leading credible and reliable issuer. It paves the way for deeper engagement with Chinese investors, particularly through our potential issuance of a panda bond.” 

In its report, S&P Global (China) Ratings highlighted AFC’s impressive financial metrics. The Corporation’s Basel II capital adequacy ratio stood at 34.7% as of mid-2024, well above its internal target of 30%. The 12-month liquidity coverage as at FYE2023 exceeded 400%, ensuring resilience. S&P also noted AFC’s proactive credit risk management, including using third-party insurance that covers nearly 18% of its loan portfolio, which reinforces its position as a leading multilateral development finance institution. 

AFC has deepened its collaboration with Asian financial institutions to secure vital funding for transformative projects. In 2024, AFC finalized a US$1.16 billion syndicated loan co-led by the Bank of China and the Industrial and Commercial Bank of China (ICBC) London Branch. In 2023, the Corporation secured a five-year loan facility from The Export-Import Bank of China (CHEXIM), aimed at enhancing trade finance and bolstering private sector initiatives. These partnerships exemplify AFC’s strategic focus on diversifying funding sources and fostering global partnerships. 

Looking ahead, AFC plans to capitalize on its strong financial foundation and high credit ratings to pursue new funding opportunities, including the possible issuance of a panda bond, subject to market conditions. This renminbi-denominated instrument will enable AFC to further diversify its funding sources, expand its investor base, and strengthen its role in financing critical infrastructure projects across Africa. 

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Rand Merchant Bank, Trade Development Bank (TDB) and Africa Finance Corporation (AFC) to Spotlight Innovative Energy Financing Solutions at Invest in African Energy (IAE) 2025

Source: Africa Press Organisation – English (2) – Report:

PARIS, France, January 16, 2025/APO Group/ —

Top financial leaders in Africa’s oil, gas and energy sectors will take center stage at the Invest in African Energy (IAE) 2025 Forum (www.Invest-Africa-Energy.com/) in Paris, offering strategic insights on funding opportunities and the pivotal role of finance in advancing the continent’s energy transition. Scheduled for May 13-14, 2025, the event will explore investment strategies, emerging market dynamics and financing solutions needed to unlock Africa’s vast energy potential. Featured speakers include:

  • Liz Williamson, Head of Energy Corporate Finance, Rand Merchant Bank
  • Admassu Tadesse, Group President & Managing Director, Trade Development Bank
  • Taiwo Okwor, Vice President, Investment, Africa Finance Corporation 

Rand Merchant Bank (RMB) continues to play a key role in financing energy and infrastructure projects across Africa, supporting the continent’s energy transition. In partnership with the European Investment Bank, RMB’s holding company, FirstRand Bank, recently launched a €400 million initiative to expand renewable energy projects in South Africa, enhancing clean energy supply, reducing carbon emissions and creating jobs.

IAE 2025 (https://apo-opa.co/3C1xE4G) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

 The Trade and Development Bank (TDB) has spearheaded numerous high-impact financing projects that strengthen energy infrastructure and promote sustainability across Africa. Notable initiatives include a $150 million Trade Finance Risk Participation Agreement with the African Development Bank to boost intra-African trade and regional integration, expected to support $1.8 billion in trade over three years. Additionally, TDB secured a $100 million facility from British International Investment to finance essential imports and exports for African markets.

Africa Finance Corporation (AFC) remains at the forefront of large-scale infrastructure financing, focusing on critical energy projects that support the transition to cleaner energy sources. Earlier this month, the AFC announced plans to invest over $3 billion in 2025, with priority initiatives including a transnational railway connecting Zambia’s mines to Angola’s Port of Lobito, as well as investments in renewable energy, electrification, agriculture and eco-tourism to boost regional development. The upcoming forum is set to explore how Africa’s energy market is evolving and the innovative financing solutions required to support large-scale energy projects, especially in the oil and gas sector.

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African Development Bank, PowerGen, and Partners Launch Transformative Renewable Energy Platform to Scale Clean Energy Access Across the Continent

Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, January 16, 2025/APO Group/ —

PowerGen Renewable Energy (PowerGen) has partnered with leading international investors to establish a scalable, distributed renewable energy platform targeting the deployment of 120 MW of renewable power, including battery energy storage  solutions across Africa.

The platform is a collaboration between PowerGen and the Private Infrastructure Development Group (PIDG), the Danish Investment Fund for Developing Countries (IFU), EDFI Management Company, through its EU-funded Electrification Financing Initiative (ElectriFi), and the African Development Bank’s Sustainable Energy Fund for Africa (SEFA). The anchor commitment from PIDG was made through InfraCo, its investment arm, with concessional capital provided by PIDG Technical Assistance.

SEFA is a multi-donor special fund managed by the African Development Bank that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency.

Building on PowerGen’s thirteen-plus years of experience developing, implementing, and operating projects across Africa, the funds will support the deployment of a 120MW portfolio of renewable mini-/metro-grids and commercial and industrial (C&I) power solutions, inclusive of battery energy storage.

Initially focused on Nigeria, Sierra Leone, and the Democratic Republic of the Congo (DRC), the platform will be expanded within the wider region, leveraging PowerGen’s deep pipeline in combination with local developer and  engineering, procurement and construction (EPC) partnerships. Adopting a platform approach has the potential to accelerate efforts to connect the 570 million people across sub-Saharan Africa who currently lack access to electricity, according to data from IRENA.  The first closing of the transaction was reached in January 2025 and will catalyse additional equity and debt finance later this year.

Dr Daniel Schroth, Director of Renewable Energy and Energy Efficiency at the African Development Bank, said: “The African Development Bank’s contribution to PowerGen’s platform reflects our commitment to catalysing private investment in sustainable infrastructure and energy access in line with the objectives of Mission 300. This project will bring electricity to underserved areas in Nigeria, Sierra Leone, and the DRC, and generate significant economic activity and create numerous employment opportunities. It’s an excellent example of our strategy to drive development through targeted partnerships.”

PIDG’s Head of Investment Management for InfraCo, Claire Jarratt, said: “PIDG has worked with PowerGen for a number of years in Sierra Leone, and we are confident in their ability to develop, deliver and operate high-quality distributed energy infrastructure in challenging conditions. We are therefore delighted to anchor this new investment. We are pleased to be working with partners to support PowerGen to expand its offering across sub-Saharan Africa at a platform scale that has the potential to be truly transformational.”

Luke Foley, PIDG Deputy Head of Technical Assistance, added: “This investment epitomises the PIDG mandate. It builds on PIDG’s innovative use of its blended finance tools and reinforces its dedication to support the deployment of sustainable energy solutions, which are key to both combating climate change and fostering economic resilience in the region.”

IFU Investment Director, Henrik Henriksen, said: “There is a tremendous need for enabling access to clean energy that can assist underserved households and businesses in Africa to become more resilient to climate change and to provide them with opportunities for better living conditions without further increasing greenhouse gas emissions. Therefore, we are very proud to be a part of a joint investment enabling PowerGen to develop sustainable off-grid power solutions in sub-Saharan Africa. This aligns with our increased focus on supporting Africa’s transition to be more climate resilient.”

Rodrigo Madrazo Garcia de Lomana, CEO of EDFI Management Company, said: “Our initial investment in PowerGen Renewable Energy in 2019 has proven to be truly catalytic, paving the way for this significant funding round. We are excited to continue supporting PowerGen’s growth as part of this round, which showcases the ripple effect of our early commitment. PowerGen exemplifies how targeted early-stage funding can unlock transformative solutions for sustainable energy access in emerging markets.”

Aaron Cheng, CEO of PowerGen, said: “We are thrilled to announce this transformational next chapter to drive our vision of providing clean, reliable, and affordable energy across Africa. We are grateful to our terrific partners for their collaboration, and together, we look forward to contributing at scale to the energy transition and socio-economic growth across the continent.”

With funding secured, PowerGen is well-positioned to serve the energy needs of more than 68,000 households and reduce the cost of power for 7,000 businesses. Increasing access to reliable and affordable electricity is expected to enhance business productivity, create indirect jobs and drive economic growth. 

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Premier Invest to Host Deal Room at Congo Energy & Investment Forum 2025

Source: Africa Press Organisation – English (2) – Report:

BRAZZAVILLE, Republic of the Congo, January 16, 2025/APO Group/ —

Global investment firm Premier Invest will host a Deal Room during the Congo Energy & Investment Forum (CEIF), taking place in Brazzaville from March 25-26, 2025. This platform provides a unique opportunity for companies to connect, negotiate and advance transactions, fostering project development and partnerships in the Republic of Congo.

Organized in partnership with the Ministry of Hydrocarbons, CEIF 2025 serves as the country’s premier energy investment platform. The event aims to showcase the country’s energy potential, offering insights into major projects, investment opportunities and future development priorities. With the Deal Room, the event sets out to foster strategic collaborations and investments, supporting national production goals while generating high returns for financiers.

The inaugural Congo Economic and Investment Forum, set for March 25-26, 2025 in Brazzaville, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

The Republic of Congo’s energy sector is rapidly growing, with large-scale projects and proactive regulation enticing fresh capital injection across the value chain. Upstream, energy companies are investing heavily in exploration and production. TotalEnergies announced in May 2024 that it would invest an additional $600 million in the country. The company has stakes in various assets, including the Moho-Bilondo field and the Marine XX permit. Meanwhile, Perenco acquired several oil permits from Eni in 2024 for $300 million, adding to its existing portfolio which features the Emeraude, Yombo, Likouala, Pointe Noire Grand Fond Sud and Baotou oil fields.

In the Congolese gas sector, projects like Eni’s Marine XII development and Wing Wah’s Bango Kayo onshore initiative highlight the potential for billion-dollar investments. Eni achieved a significant milestone in late-2023 with the export of its first LNG cargo from the Congo LNG project, with a second phase scheduled for completion by 2025. Meanwhile, the Bango Kayo project aims to produce 30 billion cubic meters of associated gas over a 25-year period.

Looking ahead, the Republic of Congo is focused on attracting additional investment in its oil and gas sector. The country plans to launch an international licensing round in Q1 2025 and is preparing to introduce its Gas Master Plan and new Gas Code in the coming months. The Gas Master Plan will provide a strategic framework for maximizing the country’s gas resources, while the Gas Code will define fiscal terms aimed at commercializing stranded assets.

The Premier Invest-led Deal Room at CEIF 2025 provides regional governments, private investors, development finance institutions and project developers with a platform to capitalize on emerging energy opportunities. Designed to foster strategic partnerships, the Deal Room facilitates meaningful engagement and deal-signing across the industry.

For more information about the Congo Energy & Investment Forum and to secure your participation, visit https://apo-opa.co/4ajAKNT.

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Premier Invest’s Rene Awambeng to Outline Congolese Investment Prospects at Congo Energy & Investment Forum (CEIF) 2025

Source: Africa Press Organisation – English (2) – Report:

BRAZAVILLE, Republic of the Congo, January 16, 2025/APO Group/ —

Rene Awambeng, Founder and Managing Partner at financial firm Premier Invest, has joined the Congo Energy & Investment Forum (CEIF) as a keynote speaker. Scheduled for March 25-26, 2025, in Brazzaville, the forum showcases partnership and investment opportunities in the country, from hydrocarbon exploration and gas monetization to green energy and downstream industries.

Premier Invest is actively promoting growth opportunities in Africa’s energy sector. In 2024, the company reached a milestone by signing an agreement with energy major Shell to facilitate financing for oil and gas projects across the continent. This partnership enables collaboration and co-financing of transactions, fostering development within the industry. At CEIF 2025, Rene Awambeng is expected to provide deeper insights into Premier Invest’s financing strategies and plans for Africa.

The inaugural Congo Economic and Investment Forum, set for March 25-26, 2025 in Brazzaville, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

As sub-Saharan Africa’s fourth-largest oil producer, the Republic of Congo presents significant opportunities for global investors. The country aims to attract fresh capital to its oil sector, with a licensing round planned for 2025 and regulatory improvements designed to enhance its appeal to foreign financiers. Simultaneously, efforts are underway to drive investment in the downstream sector to meet the nation’s annual petroleum demand of 1.2 million tons. At CEIF 2025, Awambeng is expected to highlight key growth opportunities within the Republic of Congo’s oil industry.

Beyond oil, the Republic of Congo is seeking increased investment in its growing gas industry. The country became an LNG exporter in late 2023 with the launch of production at the Congo LNG project. By 2025, Congo aims to increase LNG output to 3 million tons per annum, driven by initiatives such as the second phase of the Congo LNG project, expected to begin in 2025, and the multi-phase Bango Kayo LNG project. Bango Kayo will be developed in four phases, each progressively enhancing gas treatment and valorization capacity to meet both local and regional LNG and LPG demand. Despite these advances, much of the country’s gas potential remains untapped, presenting a strategic opportunity for exploration and production firms, as well as investors.

Recent policy changes are set to further enhance the Republic of Congo’s investment appeal. The country is preparing to launch its Gas Master Plan alongside a new Gas Code, both aimed at accelerating the development of the gas industry. These policies will provide a strategic framework for investing in the country’s gas value chain.

Beyond oil and gas, the Republic of Congo offers significant potential in renewable energy. The country is emerging as a promising market for solar, wind and hydropower development, with an estimated 22 GW of untapped hydropower capacity. CEIF 2025 will bring together project developers, capital providers and technology experts to advance renewable energy projects in the country. At CEIF 2025, Premier Invest’s Awambeng will share insights into emerging energy opportunities in the Republic of Congo. As a keynote speaker, Awambeng will discuss how innovative financing and market policies can drive development, unlocking the full potential of the country’s diverse energy resources.

For more information about the Congo Energy & Investment Forum and to secure your participation, visit https://apo-opa.co/40BbCzd.