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Stellantis Reports 7% Growth in Q3 2023 Net Revenues, Driven by Continued Strength in Shipments Year-Over-Year

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Stellantis

In an industry still affected by unprecedented disruptions and transformations, Stellantis and its dealer network in Europe have strengthened their partnership to improve customer experience and streamline the overall customer journey

AMSTERDAM, Netherlands, November 1, 2023/APO Group/ — 

Net revenues of €45.1 billion, up 7% compared to Q3 2022, mainly reflecting improved volume and consistent pricing, partially offset by foreign exchange impacts; Consolidated shipments(1) of 1,427 thousand units, up 11% versus Q3 2022, with Enlarged Europe, Middle East & Africa, North America and South America reporting year-over-year improvements; Total new vehicle inventory of 1,387 thousand units at September 30, 2023. Company inventory of 388 thousand units, up 158 thousand units from December 31, 2022 reflecting a return to more normal levels after a multi-year period of materially-constrained supplies; Tentative agreement reached with both UAW and Unifor. Work stoppages negatively impacted Net revenues by approximately €3 billion, compared to planned production, through October; Global BEV sales up 37% versus Q3 2022 mainly driven by the Jeep® Avenger and growing commercial BEV vehicles sales led by the Citroën ë-Berlingo; The Company repurchased €0.5 billion in shares during Q3 2023. During the nine months ended September 30, 2023, €1.2 billion in shares were repurchased. The Company expects to complete the announced €1.5 billion 2023 Share Buyback Program during Q4 2023. “In the first half of this year, Stellantis (www.Stellantis.com) emerged as the industry leader for AOI, AOI margin, and Industrial Free Cash Flows among its comparable peers. Today, we are focused on maintaining our momentum by delivering industry-leading profitability and cash flows, addressing critical near-term industry challenges, and continuing our electrification and technology transformation. This growth is propelling the execution of our Dare Forward 2030 strategy”: Natalie Knight, CFO.

Stellantis N.V. continued to build momentum in Q3 2023, delivering a 7% year-over-year increase of Net revenues driven by continued strength in shipments. The Company’s “Third Engine”(5) achieved 25% revenue growth year-over-year. Global BEV sales were up 37% versus third quarter 2022, led by the following vehicles: Jeep® Avenger, Citroën Ami, Peugeot E-208, Fiat New 500e, and Citroën ë-Berlingo. Key activities executed to achieve the Dare Forward 2030 strategic plan include:

Care: In an industry still affected by unprecedented disruptions and transformations, Stellantis and its dealer network in Europe have strengthened their partnership to improve customer experience and streamline the overall customer journey. With the signing of over 8,000 sales and 25,000 aftersales contracts across 10 strategic European countries, it is clear that Stellantis and its business partners share the same goals when it comes to simplification, multi-brand approach, customer centricity, and quality assurance. Austria, Belgium, Luxembourg, and Netherlands have already adopted the new contracts, with the rest of Europe to begin adopting the new model starting in 2024.

Tech: Peugeot revealed the first application of STLA Medium – the first of Stellantis’ four global BEV-by-design platforms – with the new E-3008, offering a best-in-class range of up to 700 km, charging time, performance, efficiency, and driving pleasure. Fiat returned to the B-segment, leading the way for sustainable urban mobility, with the new 600e, which boasts state-of-the-art safety features and an electric range of more than 400km (WLTP(6) combined cycle) and more than 600 km (WLTP(6) urban cycle) in the city. Fiat also unveiled the new Topolino micro-mobility offer with a 75km range and a safe top speed of 45 km/h. The Company also announced the start of all-electric van production at Ellesmere Port – the UK’s first EV-only volume manufacturing plant – and the first Stellantis plant globally dedicated to electric vehicles.

Coming to the market soon is the all-electric Citroën ë-C3. The first affordable European electric car, the ë-C3 delivers best-in-class comfort, and easy electric life thanks to a 44kWh battery pack providing up to 320km (199 miles) WLTP(6) driving range, at fair and net prices in many European markets, starting at €23,300.

Stellantis celebrated the opening of its state-of-the-art Battery Technology Center at the Mirafiori complex in Turin, Italy. The center enhances the Company’s capabilities to design, develop and test battery packs, modules, high-voltage cells, and software to power upcoming Stellantis brand vehicles.

The Company continued to strengthen its global electrification ecosystem and support its carbon neutrality ambitions: (i) concluding testing with Aramco on the compatibility of 24 engine families to use advanced drop-in eFuels, which will lower COemissions of a potential 28 million Stellantis vehicles currently on the road; (ii) unveiling with Saft the Intelligent Battery Integrated System, which the project team intends to make commercially available on Stellantis vehicles before the end of this decade; (iii) announcing plans for a sixth gigafactory globally to support its bold electrification plan of securing approximately 400 GWh of battery capacity; it will be the second facility to be built in the U.S. with Samsung SDI; (iv) investing in Controlled Thermal Resources Holdings Inc.’s Hell’s Kitchen project to produce up to 300,000 metric tons of lithium carbonate equivalent each year; and (v) completing its 33.3% purchase of Symbio, a leader in zero-emission hydrogen mobility to help secure Stellantis’ leadership position in hydrogen-powered vehicles.     

Value: To accelerate the transition to electric vehicles in North America, Stellantis and six major global automakers will create an unprecedented charging network installing at least 30,000 high-powered charge points.

Stellantis is also implementing a multifaceted strategy designed to manage and secure the long-term supply of vital microchips, delivering the objectives laid out in Dare Forward 2030. Stellantis’ strategy combines agreements with chip makers for critical semiconductors, purchase of mission-critical parts, and full visibility of future chip needs.

The Company repurchased €0.5 billion in shares during Q3 2023. During the nine months ended September 30, 2023, €1.2 billion in shares were repurchased. The Company expects to complete the announced €1.5 billion 2023 Share Buyback Program during Q4 2023.  

In October 2023, the Company announced its plans to acquire approximately 20% of Leapmotor for approximately €1.5 billion and to form Leapmotor International, a 51/49 Stellantis-led joint venture with exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China.

In October 2023, the Company introduced Pro One as the enhanced strategic offensive of its commercial vehicles business to achieve global leadership, encompassing the professional offerings of six iconic brands of Stellantis – Citroën, FIAT Professional, Opel, Peugeot, Ram and Vauxhall, and to support achievement of the Dare Forward 2030 strategic plan targets.

On October 31, 2023 at 2:00 p.m. CET / 9:00 a.m. EDT, a live audio webcast and conference call will be held to present Stellantis’ Third Quarter 2023 Shipments and Revenues. The audio webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website at www.Stellantis.com. The presentation material is expected to be posted under the Investors section of the Stellantis corporate website at approximately 8:00 a.m. CET / 3:00 a.m. EDT on October 31, 2023.

Upcoming events:

  • Full Year 2023 Results – February 15, 2024
  • Investor Day 2024, Auburn Hills, Michigan, USA – June 13, 2024
Q3 2023Q3 2022ChangeFY 2023 GUIDANCE – CONFIRMEDAdjusted Operating Income Margin(2)            Double-DigitIndustrial Free Cash Flows(3)                           Positive€1.5 billion Share Buyback Program              On-Track2023 INDUSTRY OUTLOOK(4)*North America                    +8%  (from 5%)Enlarged Europe                 +10%  (from 7%)Middle East & Africa          +10%  (from 7%)South America                    Stable  (from 3%)India & Asia Pacific             +5%  (unchanged)China                                     +2%  (unchanged)*2023 Industry Outlook changed for NA, EE, MEA and SA compared to outlook provided on Jul 26 ’23
Combined shipments (000 units)1,4781,334+11%
Consolidated shipments (000 units)1,4271,281+11%
Net revenues (€ billion)45.142.1+7%
YTD 2023YTD 2022Change
Combined shipments (000 units)4,8054,367+10%
Consolidated shipments (000 units)4,6294,215+10%
Net revenues (€ billion)143.5130.1+10%

____________________________________________________________________________________________________________________________________

All reported data is unaudited. Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.

Segment Performance

NORTH AMERICA
Q3 2023Q3 2022ChangeShipments up 7%, led by Chrysler (in particular Pacifica PHEV) which more than doubled y-o-y; Dodge and Ram also improved; Jeep shipments down due to the discontinued current generation Cherokee and scheduled downtime of the Compass, partially offset by Grand Cherokee which nearly doubledNet revenues up 2%, primarily due to higher volumes, positive net pricing and positive mix, mostly offset by unfavorable FX translation effectsYTD 2023YTD 2022
Shipments (000s)470441+291,4931,400
Net revenues (€ million)21,52321,071+45267,43963,514
ENLARGED EUROPE
Q3 2023Q3 2022ChangeShipments up 11%, driven by increased shipments of Opel/Vauxhall (in particular Astra), Fiat Professional (led by Ducato) and Peugeot (led by 208), as well as increased demand for BEVs, led by Jeep AvengerNet revenues up 5%, mainly due to increased volumes and stable net pricingYTD 2023YTD 2022
Shipments (000s)599538+612,0771,900
Net revenues (€ million)14,12413,486+63848,98544,805
MIDDLE EAST & AFRICA
Q3 2023Q3 2022ChangeConsolidated shipments up 102%, led by robust growth in Fiat shipments; Opel, Peugeot and Citroën models also grew significantly, partially offset by a decrease in Jeep brand shipmentsNet revenues up 128%, primarily due to increased volumes and positive net pricing, partially offset by negative FX translation effects, mainly from Turkish liraYTD 2023YTD 2022
Combined shipments (000s)(1)13987+52440286
Consolidated shipments (000s)(1)10552+53313190
Net revenues (€ million)3,0211,324+1,6977,7194,363
SOUTH AMERICA
Q3 2023Q3 2022ChangeShipments up 7%, due to higher Fiat volumes (led by Fastback), Fiat Professional, Peugeot and Ram shipmentsNet revenues up 8%, mainly due to increased volumes and favorable net pricing, partially offset by negative FX translation effects, mostly Argentinian pesoYTD 2023YTD 2022
Shipments (000s)227213+14647616
Net revenues (€ million)4,2853,965+32011,84811,198
CHINA AND INDIA & ASIA PACIFIC
Q3 2023Q3 2022ChangeConsolidated shipments down 33%, due to decreased shipments of Jeep and Peugeot; mitigated by increased Alfa Romeo (due to all-new Tonale)Net revenues down 38%, mainly due to decreased volumes and negative FX translation effectsYTD 2023YTD 2022
Combined shipments (000s)(1)3748(11)127148
Consolidated shipments (000s)(1)2030(10)7892
Net revenues (€ million)7051,138(433)2,6913,290
MASERATI
Q3 2023Q3 2022ChangeShipments down 20%, due to lower volumes in China; Levante and Ghibli shipments down, partially offset by higher Grecale volumesNet revenues down 21%, primarily due to decreased volumes and unfavorable FX translation effectsYTD 2023YTD 2022
Shipments (000s)5.36.6(1.3)20.616.8
Net revenues (€ million)496630(134)1,8051,571

Reconciliations

Net revenues from external customers to Net revenues

Q3 2023(€ million)NORTH AMERICAENLARGED EUROPEMIDDLE EAST & AFRICASOUTH AMERICACHINA AND INDIA & ASIA PACIFICMASERATIOTHER(*)STELLANTIS
Net revenues from external customers       21,522            14,077            3,022             4,320               705                 495                 995               45,136      
Net revenues from transactions with other segments            1                     47                    (1)                   (35)                   —                      1                     (13)                     —           
Net revenues      21,523           14,124            3,021             4,285               705                496                982               45,136      

___________________________________________________________________________________________________________________

(*) Other activities, unallocated items and eliminations

Q3 2022(€ million)NORTH AMERICAENLARGED EUROPEMIDDLE EAST & AFRICASOUTH AMERICACHINA AND INDIA & ASIA PACIFICMASERATIOTHER(*)STELLANTIS
Net revenues from external customers      21,070           13,467             1,324              3,978              1,136                631                 495               42,101      
Net revenues from transactions with other segments            1                      19                     —                    (13)                     2                      (1)                    (8)                     —           
Net revenues      21,071          13,486           1,324             3,965             1,138               630                 487               42,101      

___________________________________________________________________________________________________________________

(*) Other activities, unallocated items and eliminations

YTD 2023(€ million)NORTH AMERICAENLARGED EUROPEMIDDLE EAST & AFRICASOUTH AMERICACHINA AND INDIA & ASIA PACIFICMASERATIOTHER(*)STELLANTIS
Net revenues from external customers      67,438          48,888           7,720             11,929             2,690             1,805             3,034           143,504    
Net revenues from transactions with other segments            1                     97                    (1)                   (81)                    1                      —                    (17)                     —           
Net revenues     67,439         48,985           7,719            11,848            2,691             1,805             3,017           143,504    

___________________________________________________________________________________________________________________

(*) Other activities, unallocated items and eliminations

YTD 2022(€ million)NORTH AMERICAENLARGED EUROPEMIDDLE EAST & AFRICASOUTH AMERICACHINA AND INDIA & ASIA PACIFICMASERATIOTHER(*)STELLANTIS
Net revenues from external customers       63,512            44,742            4,363              11,211              3,286              1,574               1,412            130,100    
Net revenues from transactions with other segments            2                     63                    —                    (13)                    4           (3)                   (53)                    —           
Net revenues      63,514          44,805           4,363            11,198            3,290              1,571              1,359           130,100    

______________________________________________________________________________________

(*) Other activities, unallocated items and eliminations

Rankings, market share and other industry information are derived from third-party industry sources (e.g. Agence Nationale des Titres Sécurisés (ANTS), Associação Nacional dos Fabricantes de Veículos Automotores (ANFAVEA), Ministry of Infrastructure and Sustainable Mobility (MIMS), Ward’s Automotive) and internal information unless otherwise stated.

For purposes of this document, and unless otherwise stated industry and market share information are for passenger cars (PC) plus light commercial vehicles (LCV), except as noted below:

  • Middle East & Africa exclude Iran, Sudan and Syria;
  • South America excludes Cuba;
  • India & Asia Pacific reflects aggregate for major markets where Stellantis competes (Japan (PC), India (PC), South Korea (PC + Pickups), Australia, New Zealand and South East Asia);
  • China represents PC only; and
  • Maserati reflects aggregate for 17 major markets where Maserati competes and is derived from S&P Global data, Maserati competitive segment and internal information.

Prior period figures have been updated to reflect current information provided by third-party industry sources.

Commercial Vehicles include vans, light and heavy-duty trucks and passenger vehicles registered or converted for commercial use.

EU30 = EU 27 (excluding Malta), Iceland, Norway, Switzerland and UK.

Low emission vehicles (LEV) = battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric (FCEV) vehicles.

All Stellantis reported BEV and LEV sales include Citroën Ami and Opel Rocks-e; in countries where these vehicles are classified as quadricycles, they are excluded from Stellantis reported combined sales, industry sales and market share figures.

Safe Harbor Statement

This document, in particular references to “FY 2023 Guidance”, contains forward looking statements. In particular, statements regarding future financial performance and the Company’s expectations as to the achievement of certain targeted metrics, including revenues, industrial free cash flows, vehicle shipments, capital investments, research and development costs and other expenses at any future date or for any future period are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Company’s current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the Company’s ability to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; the Company’s ability to realize the anticipated benefits of the merger; the Company’s ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; the continued impact of unfilled semiconductor orders; the Company’s ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; the Company’s ability to produce or procure electric batteries with competitive performance, cost and at required volumes; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in the Company’s vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in the Company’s vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of government economic incentives available to support the adoption of battery electric vehicles; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; the Company’s ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of the Company’s defined benefit pension plans; the Company’s ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the Company’s ability to access funding to execute its business plan; the Company’s ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with the Company’s relationships with employees, dealers and suppliers; the Company’s ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; and other risks and uncertainties.

Any forward-looking statements contained in this document speak only as of the date of this document and the Company disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning the Company and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission and AFM.

_________________________________________

Notes:

(1) Combined shipments include shipments by Company’s consolidated subsidiaries and unconsolidated joint ventures, whereas Consolidated shipments only include shipments by Company’s consolidated subsidiaries. Figures by segments may not add up due to rounding.

(2) Adjusted operating income/(loss) excludes from Net profit/(loss) adjustments comprising restructuring, impairments, asset write-offs, disposals of investments and unusual operating income/(expense) that are considered rare or discrete events and are infrequent in nature, as inclusion of such items is not considered to be indicative of the Company’s ongoing operating performance, and also excludes Net financial expenses/(income) and Tax expense/(benefit). Effective from January 1, 2023, our Adjusted operating income/(loss) includes Share of the profit/(loss) of equity method investees. The comparatives for the respective periods for 2022 have been adjusted accordingly.

This change was implemented as management believes these results are becoming increasingly relevant due to the number of partnerships Stellantis has recently engaged in, and will continue to engage in in the future, around electrification and other areas critical to the future of mobility.

Unusual operating income/(expense) are impacts from strategic decisions, as well as events considered rare or discrete and infrequent in nature, as inclusion of such items is not considered to be indicative of the Company’s ongoing operating performance. Unusual operating income/(expense) includes, but may not be limited to: impacts from strategic decisions to rationalize Stellantis’ core operations; facility-related costs stemming from Stellantis’ plans to match production capacity and cost structure to market demand, and convergence and integration costs directly related to significant acquisitions or mergers.

(3) Industrial free cash flows is calculated as Cash flows from operating activities less: cash flows from operating activities from discontinued operations; cash flows from operating activities related to financial services, net of eliminations; investments in property, plant and equipment and intangible assets for industrial activities; contributions of equity to joint ventures and minor acquisitions of consolidated subsidiaries and equity method and other investments; and adjusted for: net intercompany payments between continuing operations and discontinued operations; proceeds from disposal of assets and contributions to defined benefit pension plans, net of tax. The timing of Industrial free cash flows may be affected by the timing of monetization of receivables, factoring and the payment of accounts payables, as well as changes in other components of working capital, which can vary from period to period due to, among other things, cash management initiatives and other factors, some of which may be outside of the Company’s control.

(4) Source: IHS Global Insight, Wards, China Passenger Car Association and Company estimates

(5) Refers to the aggregation of the South America, Middle East & Africa and China and India & Asia Pacific segments for presentation purposes only

(6) Worldwide Harmonized Light Vehicles Test Cycle

Distributed by APO Group on behalf of Stellantis.

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Africa Women Innovation and Entrepreneurship Forum (AWIEF) Announces Finalists for the 2024 AWIEF Awards

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AWIEF

This year, the finalists have been selected from a diverse group of talented women founders and business owners across the continent, each demonstrating excellence in their respective fields

CAPE TOWN, South Africa, September 19, 2024/APO Group/ — 

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org/) is delighted to announce the finalists for the prestigious 2024 AWIEF Awards, set to recognize and celebrate the achievements of Africa’s women entrepreneurs and business leaders. The awards, held annually as part of the AWIEF conference, honor the impact of women entrepreneurs in driving innovation, promoting gender equality, and contributing to Africa’s economic development.

This year, the finalists have been selected from a diverse group of talented women founders and business owners across the continent, each demonstrating excellence in their respective fields. The finalists span categories such as agriculture, technology, creative industries, social entrepreneurship, and more. Their accomplishments are a testament to the power, resilience, and innovative spirit of African women in business.

Here are the finalists (in alphabetical order) for the 2024 AWIEF Awards:

1. Young Entrepreneur Award

Mpho Hlongwane – MH Automotive Engineering (South Africa)

Adeline Pelage – Madinina Foods (Cameroon)

Jessy Radwan – Carerha (Egypt)

2. Agri Entrepreneur Award

Naledi Magowe – Brastorne (Botswana)

Ifeoma Okonkwo – Ifgreen Industries & Investment (Nigeria)

Cherotich Rutto – Tawifresh Kenya Limited (Kenya)

3. Creative Industry Award

Thabo Makhetha-Kwinana – Thabo Makhetha CC (South Africa)

Jenny Edwige Mezile – L’École D’Arts les Pieds dans la Mare de Jenny Mezile (Côte d’Ivoire)

Jane Mpholo – Jane Mpholo Pty Ltd (South Africa)

4. Empowerment Award

Fomum Victorine Agum – Global Women Emancipation in Sports (Cameroon)

Judy Makira – Centre for Women Empowerment in Technology (Kenya)

Creseldah Cassandra Ndlovu – CLM Clothing & Textile (South Africa)

5. Tech Entrepreneur Award

Ynes Hafi – ARSELA (Tunisia)

Peace Iraguha – Lifesten Health (Rwanda)

Christiana Okere – myStash (Nigeria)

6. Social Entrepreneur Award

Osen Iyahen – Optimal Greening Foundation (Nigeria)

Temitope Mayegun – Avilla Naturalle (Nigeria)

Tsholofelo Ramokoka – AddressDox (South Africa)

Recognizing Africa’s Women Leaders

The AWIEF Awards continue to celebrate women who are making waves across industries, empowering communities, and setting new benchmarks in entrepreneurship. The finalists represent a diverse array of sectors, highlighting the depth and breadth of women’s contributions to Africa’s economic landscape.

AWIEF Awards Ceremony

The winners of the 2024 AWIEF Awards will be announced at the AWIEF Awards Ceremony on November 29, 2024, during the AWIEF Conference in Cape Town, South Africa. The event promises to be a night of inspiration, celebration, and a testament to the transformative power of women-led businesses in Africa.

Join us for AWIEF2024

Don’t miss this opportunity to join the celebration and be part of Africa’s most impactful conference for women entrepreneurs.

Register Now: https://apo-opa.co/4eMq1Nh

Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).

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Unleashing Africa’s Next Big Play: Namibia’s Emerging Oil and Gas Sector (By Rachel Mushabati)

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Namibia

One of the primary drivers of Namibia’s attractiveness as an investment destination is its supportive government and investor-friendly policies

JOHANNESBURG, South Africa, September 18, 2024/APO Group/ — 

By Rachel Mushabati, Senior Associate Attorney, CLG Namibia (www.CLGGlobal.com).

Namibia, a nation renowned for its breath-taking scenery and abundant wildlife, is becoming more and more well-known for its booming oil and gas industry. Namibia is quickly rising to the top of Africa’s oil and gas exploration and investment destinations because to notable discoveries and a favourable investment climate. Here are some reasons for investors to be interested in Namibia’s developing economy and how business advice and strategic law might improve investment prospects.

A Treasure Trove of Potential

Namibia’s oil and gas sector has garnered international attention due to its substantial potential. Recent exploratory drilling has revealed promising reserves off the coast, particularly in the Namibian offshore region. After several years of extensive exploration, Namibia realized its first oil discoveries. In early 2022, Shell, QatarEnergy, and NAMCOR made a landmark discovery in the deep-water well in the Orange Basin, offshore southern Namibia. This was followed by another significant find in 2023, when TotalEnergies, QatarEnergy, and NAMCOR discovered light oil with associated gas on the Venus prospect, also in the Orange Basin. In 2024, Galp Energia, Custos, and NAMCOR further solidified Namibia’s status with a high-quality light oil discovery in the Mopane-1X well, located in the same prolific basin.[1] These discoveries, alongside notable formations such as the Kudu Gas Field, have positioned Namibia as a key player in the global energy market. The country’s geological formations, particularly in the Orange Basin, have demonstrated significant hydrocarbon potential, making it an attractive destination for exploration and production.[2]

Government Support and Favourable Policies

One of the primary drivers of Namibia’s attractiveness as an investment destination is its supportive government and investor-friendly policies. The Namibian government has implemented a range of initiatives to foster a conducive environment for oil and gas investments. Namibia’s Investment Promotion Act[3] is a pivotal component in the country’s strategy to attract and support investors. This comprehensive legislation provides a range of incentives to enhance the financial viability of projects and reduce initial costs[4]. It also ensures robust legal protections, safeguarding investors’ property rights and offering non-discriminatory treatment compared to domestic investors. By streamlining licensing processes and providing one-stop-shop services[5], the Act simplifies the investment process and reduces bureaucratic hurdles. Additionally, it supports priority sectors such as oil and gas, reinforcing Namibia’s commitment to fostering a transparent, stable, and investor-friendly environment. Namibia’s commitment to creating a stable and attractive investment environment is evident through its proactive approach in engaging with international investors and offering competitive terms.

Strategic Location and Infrastructure

Namibia’s strategic location along the Atlantic Ocean provides a crucial advantage for oil and gas operations. The country’s well-developed port infrastructure, particularly the Port of Walvis Bay, facilitates efficient export and import processes.[6] Additionally, Namibia’s proximity to key international markets enhances its appeal as a hub for energy resources. The development of supporting infrastructure, such as pipelines and storage facilities, further strengthens Namibia’s position as a key player in the global energy supply chain.

Economic Growth and Sustainable Investment Opportunities in Namibia’s Oil and Gas Sector

Investing in Namibia’s oil and gas sector not only presents a wealth of economic opportunities but also aligns with the principles of sustainability and responsible investment. The sector’s expansion is expected to stimulate ancillary industries such as construction, logistics, and technology, benefiting local businesses through increased demand for related services and products. The influx of foreign investment is anticipated to drive job creation, infrastructure development, and overall economic growth. Concurrently, Namibia places a strong emphasis on sustainability and environmental stewardship. The government and industry stakeholders are committed to responsible investment practices that protect local communities and ecosystems. Investors who prioritize these practices will not only contribute to positive environmental and social outcomes but also bolster their own reputation and long-term success in the market.

Conclusion

Namibia’s emerging oil and gas sector offers a compelling opportunity for investors seeking to capitalize on new and promising markets. With its substantial hydrocarbon potential, favourable government policies, strategic location, and burgeoning economic opportunities, Namibia is poised to become a prominent player in the global energy arena. The sector’s growth is anticipated to drive significant benefits across various ancillary industries and create widespread economic development. Additionally, the emphasis on sustainability and responsible investment practices aligns with global standards, ensuring that investments contribute positively to local communities and the environment.

However, successfully navigating this promising landscape requires expert guidance. Engaging with local legal and business advisory services can provide investors with crucial insights, help manage regulatory complexities, and enhance overall investment strategies. By leveraging the expertise of these advisory services, investors can maximize their potential for success and make a meaningful contribution to Namibia’s oil and gas sector. For those ready to explore the opportunities in Namibia’s oil and gas industry, the time to act is now. With the right expertise and strategic approach, investors can unlock substantial rewards and play a pivotal role in the growth of this exciting sector.

Namibia’s oil and gas sector has garnered international attention due to its substantial potential


[1] NAMCOR. Press Releases. Retrieved from https://apo-opa.co/3XO3SZ4. Last accessed 5 September 2024.

[2] Koning, T. “The Orange Basin, Deepwater Namibia- What’s Going on with Its Resources, Reserves and Future Production of Natural Gas?”. Retrieved from https://apo-opa.co/3XMKCv1. Last accessed 6 September 2024.

[3] Namibia Investment Promotion Act 9 of 2016

[4] Namibia Investment Promotion Act Section 4 (4)

[5] Namibia Investment Promotion Act Section 7

[6] Namport. “Welcome to the Port of Walvis Bay”. Retrieved from https://apo-opa.co/3Xq02UC. Last accessed 6 September 2024.

Distributed by APO Group on behalf of CLG.

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Business

Artificial Intelligence (AI) Essentials for Small Businesses to Drive Growth and Save Time

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GoDaddy

With AI, business owners can quickly craft personalized responses, such as thank-you emails to customers after they make a purchase or sign-up for a service, reminder emails, and responses to inquiries or complaints

JOHANNESBURG, South Africa, September 18, 2024/APO Group/ — 

Generative AI (Artificial Intelligence) is not new, however the recent boom in AI tools available to anyone such as image-generation tools and AI-driven applications, while offering new opportunities, can also place small business owners in new and unfamiliar territory.

GoDaddy shares some ways in which generative AI can help small business owners and entrepreneurs enhance creativity, streamline operations and support customer engagement.

  1. Generate creative and unique business names – The biggest barrier to getting started is sometimes a blank screen. Generative AI is great for helping to get creativity started. If thinking of a catchy business name isn’t your strong suit, consider using AI to kick-start the process. GoDaddy AI Domain Search can help generate potential business names, giving entrepreneurs a list of unique and creative names that they might not have come up with otherwise.
     
  2. Automate content creation – By simplifying the content creation process and enhancing the effectiveness of published materials, such as website content, newsletters or blogs, AI can help save entrepreneurs both time and money.

Using advanced natural language processing algorithms and deep learning techniques, AI-powered content-generation tools can analyze existing content within a specific industry or niche. Using that information, AI tools can then generate relevant and engaging content. And then, you can update the output to match the overall vibe of your unique business.

GoDaddy is equipping small business owners with AI tools and guidance to help them boost their content creativity and streamline operations

To help entrepreneurs be successful in creating prompts to use with AI tools, GoDaddy created a free guide. This guide offers small business owners tips for how to create text and visual prompts.

  1. Enhance customer service – With AI, business owners can quickly craft personalized responses, such as thank-you emails to customers after they make a purchase or sign-up for a service, reminder emails, and responses to inquiries or complaints. By providing fast and personalized responses to customers, using AI-powered tools can help to enhance the overall customer experience, leading to higher satisfaction rates and a stronger brand reputation, and help to drive further engagement with customers.
     
  2. Support for social media management – Engaging on social media channels is an important part of growing a business in today’s digital environment, but managing multiple platforms and attempting to brainstorm creative new content can feel daunting. AI can help here as well.

    Tasks AI can support with include creating a list of key moments and relevant events for a target audience, craft ad copy to grab people’s attention, write simple video scripts, create editorial calendars, and provide creative captions for image-based posts.

    GoDaddy Studio creates professional-looking content for a business or personal brand. Anyone can easily and quickly produce engaging content without needing advanced design skills. This free tool is available for anyone looking to enhance their online presence and take advantage of branded content for their social media channels, website, customer email communications, and more.

While AI tools can help save time and money, it is crucial for a human to closely review the output of the AI tool that you choose to use, as AI can return incorrect, false or outdated information or may include content containing third parties’ intellectual property.

“In today’s fast-changing digital world, GoDaddy is equipping small business owners with AI tools and guidance to help them boost their content creativity and streamline operations, saving them time to focus on growing their businesses,” said Selina Bieber, Vice President of International Markets at GoDaddy.

GoDaddy offers a wide array of online resources to help small businesses and entrepreneurs thrive in the digital world, from website building and ecommerce tools to email and digital marketing solutions.

For more information on how GoDaddy can help your business, visit GoDaddy (www.GoDaddy.com).

Distributed by APO Group on behalf of GoDaddy.

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