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6 Regional Cooperation Projects to Watch in the MSGBC Region

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MSGBC Region

Regional projects on energy, infrastructure, power, finance and healthcare are promoting investment opportunities, economic growth and cross-border collaboration in West Africa

NOUAKCHOTT, Mauritania, July 17, 2023/APO Group/ — 

The upcoming MSGBC Oil, Gas & Power 2023 conference (https://apo-opa.info/3K3Tm8J) is set to take place in Nouakchott on November 21–22, under the patronage of Mauritanian President Mohamed Ould Ghazouani.

This event has a rich history of promoting regional cooperation (https://apo-opa.info/44uAo3d) by bringing together notable attendees from around the world alongside key players from the local community. 

As the African Development Bank and the West African Monetary Institute (WACMI) advocate for capital market integration to increase investment opportunities (https://apo-opa.info/3NYXeJz) in West Africa, here are some of the best examples of cross-border collaboration on energy, infrastructure, power, water, finance and healthcare projects.

Grande Tortue Ahmeyim: Mauritania and Senegal

The Greater Tortue Ahmeyim (GTA) project (https://apo-opa.info/3rwyO2i), developed by bp and Kosmos Energy, is an offshore natural gas project located on the maritime boundary between Senegal and Mauritania. With a 30-year production potential, it is projected to produce up to 2.5 million tons per annum (mtpa) of liquefied natural gas in its first phase and up to five mtpa in its second, contributing up to 10% of each country’s GDP. The project is an excellent example of regional collaboration; it is ecologically sustainable and its impact has been studied by both the governments of Senegal and Mauritania to ensure that it is developed responsibly. GTA has the potential to significantly contribute to both nations’ economic development.

West African Power Pool

The West African Power Pool (WAPP), established in 2010, is a partnership of national electricity companies in West Africa with the goal of building a reliable power system and a unified electricity market. WAPP has 14 members from the Economic Community of West African States (ECOWAS). The objective of the organization is to integrate national power systems into a single regional electricity market in order to boost electricity trade among member nations and provide a reliable and stable electricity supply at reasonable prices.

GTA has the potential to significantly contribute to both nations’ economic development

West Africa Regional Rail Integration

The West Africa Regional Rail Integration initiative was launched in 2010 by the ECOWAS to strengthen West Africa’s railway network. The project’s goal is to connect the railways of 13 West African nations, resulting in a regional transportation network that is both seamless and effective. By lowering transportation costs and enhancing connectivity, the initiative is expected to improve local trade and economic growth. The project is being developed in phases, with the first focused on the restoration and upgrading of existing railway infrastructure, followed by the building of new railway lines.

Joint Agreement on Senegal-Mauritania Aquifer Basin

The Gambia, Guinea-Bissau, Mauritania and Senegal signed a ministerial statement in 2021 to increase cooperation on shared groundwater management. The four nations intend to create a legislative and institutional framework for collaboration on the Senegal-Mauritanian Aquifer System in order to promote resilience, sustainable development and regional stability. They decided to create a permanent body that would manage the aquifer, which serves over 80% of the population and is under growing pressure from population growth and agriculture.

African Exchanges Linkage Project

The African Exchanges Linkage Project (AELP) trading platform was established in December 2022 under the supervision of the African Securities Exchanges Association. The AELP’s initial phase unites seven stock exchanges from 14 African nations and the West African Economic and Monetary Union (Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo). The AELP seeks to enhance cross-border capital flows and investments by linking African capital markets to the global financial system.

Project Shegas: Senegal and The Gambia

The Shegas project, which aims to unify healthcare services between Senegal and Gambia, was inaugurated in Dakar in February 2023. Because both nations have the same population, ethnic groupings and history, national healthcare maps aren’t typically tailored to their specific requirements. The research will examine the transboundary demand for healthcare services and how the healthcare systems of both nations might adapt to it. The study is anticipated to span three years and will include seven border regions in The Gambia. The purpose is to provide policymakers with insights on how to integrate transboundary healthcare services.

All this and more will be further unpacked during Energy Capital & Power’s MSGBC Oil, Gas & Power conference, the premier event for the MSGBC region.

Distributed by APO Group on behalf of Energy Capital & Power.

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Ministers among hundreds of energy-sector leaders to attend AOW event

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Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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