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US-Africa Municipal and Sub-Sovereign Investors Forum: Paving the Way for Sustainable African Development

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investment

Discussions revolved around unity, responsible investment, and leveraging Africa’s demographic dividend to accelerate economic growth

NEW YORK, United States of America, October 2, 2023/APO Group/ — 

In the margins of the United Nations General Assembly, UCLG Africa (http://www.UCLGA.org), the umbrella organization representing the voice of African subnational and local governments on the African continent, organized the very first US-Africa Municipal and Sub-Sovereign Investors Forum at the Wall Street Hotel in New York City. The Forum brought together around 100 participants representing the African Union institutions; the USA cooperation agencies; Black Caucus USA State legislators; Africa and USA Mayors and Leaders of subnational and local governments; Africa and USA Development Finance institutions; Africa and USA business community.  

The proceedings of the Forum were structured around three sequences: the official opening session; the session on market practices, collaboration and investment opportunities in Africa; and the session on investors response to the call to invest in Africa.

The opening session was moderated by Jean Pierre Elong Mbassi, Secretary General, UCLG Africa.

At the official opening ceremony of the Forum, Hon Eric Adams, Mayor of New York City, delivered an inspiring address, highlighting the timely significance of the Forum and the opportunity it offers to have a new look at the huge potential of Africa in terms of investment and business opportunities, particularly in her cities. He underscored the good momentum for organizing this Forum in New York City, USA, since African American Mayors are managing the bulk of major cities in the country, representing 1/3 of the USA GDP. The mayors of these cities shall therefore be at the forefront in mobilizing their business community, including the SMEs, to explore the possibility to develop their business through investment projects in Africa.  

Mayor Adams insisted that the Forum should be seen as a starting point for a new conversation on investment in African cities and was happy that UCLG Africa announced the holding of a second edition of the Forum to be held in the framework of the 10th edition of the Africities Summit scheduled in December 2025 in Cairo, Egypt, at which he would be happy to participate.

The opening session was also marked by the statements by the following speakers: Hon Laura Hall, President, National Black Caucus of State Legislators; Hon Shawyn Patterson-Howard, Mayor Mt Vernon, NY, President of African American mayors Association; Madam Nardos Bekele-Thomas – CEO, African Union Development Agency-NEPAD; Dr Julius Garvey, Board-Certified award-winning surgeon, medical professor and investor. Son to Marcus Garvey; Mohan Vivekanandan, Group Executive, Client Coverage, Development Bank of Southern Africa; Solomon Quaynor, Vice President, Private Sector, Infrastructure and Industrialization, African Development Bank.

Throughout the opening session, the speakers highlighted the need for strategic investments to unlock Africa’s untapped development potential. Discussions revolved around unity, responsible investment, and leveraging Africa’s demographic dividend to accelerate economic growth. Place-based investments were advocated for more impact on the people where they live.  Commitment to delivering on development promises and building hope through sustainable investments were recurrent themes.

The second session on market practice exchange, collaboration and Investment opportunities in Africa was moderated by Ambassador Seyni Nafo, Coordinator, Africa Adaptation Initiative (AAI).

Throughout the opening session, the speakers highlighted the need for strategic investments to unlock Africa’s untapped development potential

The session was introduced by a powerful statement by Hon. Rohey Malick Lowe, the Mayor of the City of Banjul in the Gambia, and also the President of the Network of Women Local elected officials of Africa (REFELA from its French acronym). Hon. Lowe put the spotlight on the necessity to invest on women economic empowerment and on opening up opportunities for the youth, through vocational education and investment in the digital transformation.

The discussion was organized around presentations by Yofi Grant, Chief Executive Officer, Ghana Investment Promotion Centre; Yves Millardet, Chairman of the Executive Board, Agence France Locale; Valerie White, Social Impact Investment and Equity Executive; Clayton Banks, Co-Founder & CEO of Silicon Harlem; Johanna LeBlanc – Partner, Adomi Advisory Group, PLLC; Dr. Edward Kofi Osei, chairman, national homeownership, Ghana.

Key messages included the importance to adopt a disruptive narrative on the perception of risk in doing business in Africa; to prioritize investing in technology, infrastructure, data collection and processing for a smart management of cities; to focus on women and youth empowerment; and to not hesitate to support ATIA, the special purpose vehicle aiming to facilitate access of African cities and territories to investment and the capital market.

The third session on investors’ response to the call for expression of interest to investing in Africa was moderated by Ms. Zienzi Dillon, CEO, Carmel Global Capital and former Head, Public Sector, Corporate and Investment Banking, Barclays Bank, South Africa.

The third session received communications by Ms. Agnes Dasewicz, Chief Operating Officer, International Development Finance Corporation (DFC); Mr. Mohammed Abbadi, Senior Investment Manager, Local Development Finance Practice, United Nations Capital Development Fund (UNCDF); Mr. Rene Awamberg, Directeur and Global Head and Client Relations, Afreximbank; Ms. Donna Sims Wilson, Chief Operating Officer, Kah Capital Management and former US National Association of Securities Professionals; Ms. Isabelle Lessedjina, Senior Vice President, TCX Fund; Mr. Craig Cogut, Pegasus Capital Advisors; Mr. David Ziyambi, Partner, Finance Department and Africa Practice, Latam & Watkins.

The response of the above investors was globally positive as all of them appreciated African cities as a new horizon for investment and business opportunities. A proposal was made to identify two or three cities in Africa in collaboration between the US Mayors and UCLG Africa to serve as a pilot to test the way to mobilize investors and partners to invest in African cities, including with the support of DFC. All of them supported the setting up of ATIA as an innovative mechanism that can assist in attracting funding for investment in African cities and subnational and local governments.  

Four points were retained as way forward:

  1. Institutionalize the US-Africa Municipal and Subnational Investors, the next edition of the Forum to be organized in December 2025 in Cairo, Egypt, in the framework of the 10th edition of the Africities Summit
  2. Sign the MoUs between UCLG Africa with the African American Mayors Association on the one hand, and with the National Black Caucus for State Legislators
  3. Mobilize US and Africa partners to participate in the establishment and operation of ATIA through financial and non-financial support
  4. Scale up the capacity building program targeting two objectives: (1) set up an observatory on local finance to have the needed financial data to back access to the capital market; (2) define a training program targeting African CFOs and professionals aiming at preparing African cities and subnational governments to transact on the capital market.

In concluding the proceedings of the Forum, the CEO of the African Union Development Agency-NEPAD expressed greetings to the delegates that spoke with their heart and insisted on the fact that it is time to move from commitments to action on the ground: “Let’s commit to work the talk and do it for ourselves”.

Distributed by APO Group on behalf of United Cities and Local Governments of Africa (UCLG Africa).

Business

Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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Energy Capital

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

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

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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Energy Capital

African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

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

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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entrepreneurs

Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —

  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA FoundationUNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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