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African Energy Week (AEW): Invest in African Energy 2024 to Advance African Energy Projects through Multi-Faceted Program

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African Energy Chamber

The African Energy Week conference returns to Cape Town with an expanded conference agenda, with investment and deal-signing at the forefront of dialogue

CAPE TOWN, South Africa, June 3, 2024/APO Group/ — 

African energy demand is projected to grow more than 30% by 2040, with oil demand expected to increase to 4.9 million barrels per day (bpd) by 2050. Gas demand will almost triple during the same period while the continent’s renewable energy capacity could reach as much as 750 GW by 2030. The continents over 125 billion barrels of proven oil reserves and 620 trillion cubic feet of gas will not only play a role in meeting this demand but will support broader industrialization and economic growth.

As new opportunities emerge for foreign investors, the African Energy Week (AEW): Invest in African Energy conference returns for its fourth edition from November 4-8 in Cape Town as the premier event to sign deals across the African energy market. This year, the conference offers an expanded agenda, with seven high-level stages hosted concurrently throughout the week offering delegates unparalleled access to the African energy market. As the official meeting platform for the industry, AEW: Invest in African Energy 2024 is the only event of its kind in Africa.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Africa’s upstream market is buzzing with activity, driven by new discoveries that are prompting increased investment from both international and national oil companies.

Africa is not only the final frontier when it comes to oil and gas but has emerged as the market of choice for global investors

The African Energy Chamber’s (AEC) 2024 outlook – The State of African Energy – shows healthy levels of exploration drilling throughout the period 2024-2025, with Algeria, Egypt, Namibia and Nigeria driving the majority of activity. Over 11 high impact wells will be drilled during this period, with up to 177 blocks up for grabs. Amid this bullish outlook, AEW: Invest in African Energy’s Upstream E&P Forum will delve into emerging opportunities across the market. The forum will unpack Africa’s new oil and gas hotspots; maximizing Africa’s mature fields; crude oil trends; exploration and capital frontiers; and more.   

To achieve universal access to modern energy, Africa requires more than $25 billion in annual spending until 2030, presenting a strategic opportunity for capital-providers. The African Energy Finance Summit – hosted in collaboration with the African Export-Import Bank and S&P Global Commodity Insights – unites lenders, developers and operators to discuss the bankability of African energy projects. The summit tackles topics such as financing new energy solutions in Africa; innovative financing models; mergers and acquisitions; foreign exchange controls; and more.

In addition to spending across the upstream market, Africa’s downstream industry is experiencing rapid growth as focus shifts towards domestic refining and intra-African distribution. Nigeria brought Africa’s largest oil refinery online in 2023 – 650,000 bpd Dangote refinery – while Angola has three new refineries in development. The Nigeria-Morocco Gas Pipeline expects to reach FID by the end of 2024 while the development of domestic LPG capacity is poised to advance access to clean cooking solutions in Africa. As such, the AEW: Invest in African Energy conference will host a Clean Fuels Forum, with speakers unpacking the continent’s downstream market. Topics include refining and petrochemicals; innovative technology in downstream operations; storage capacity and integration; and many more.

As present, over 600 million people are without access to electricity in Africa, and as the population grows –expected to reach 2.5 billion by 2050 – so will the demand for accessible power solutions. Efforts to monetize gas through power generation aim to enhance grid capacity while the adoption of off-grid solutions will accelerate electrification continent-wide. The AEW: Invest in African Energy Power Africa Summit will tackle the key challenges and opportunities across Africa’s power market. The summit will address green technology; gas-to-power; energy planning and integration; power infrastructure and trade; the power trilemma, and more.

While Africa faces an energy crisis, the continent also faces some of the worst impacts of the climate crisis. As such, many countries are opting for a just energy transition, whereby context-specific strategies are adopted to mitigate impacts and drive sustainable development. A Just Energy Transition Summit at the conference this November will explore Africa’s energy-climate nexus, with topics including king coal to clean coal; unlocking Africa’s future energy potential; the fundamental role of logistics; low-carbon technology and more.

“Africa is not only the final frontier when it comes to oil and gas but has emerged as the market of choice for global investors, owing largely to its unparalleled opportunities, rising role as a global exporter and increasingly attractive fiscal terms. As an industry, we will continue to call for more investment, more deals and accelerated project developments. Africa is not the only continent that needs its resources, markets across the world will need African energy in both the mid- and long-term,” stated NJ Ayuk, Executive Chairman of the AEC.

Join the conference today and take part in the comprehensive program! Visit www.AECWeek.com for more information.

Distributed by APO Group on behalf of African Energy Chamber.

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Global Mayors Dialogue in Wuhan focuses on urban innovation and cooperation

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September 24, 2026

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The Global Mayors Dialogue

WUHAN, CHINA – Media OutReach Newswire – 23 September 2026 – The Global Mayors Dialogue · Wuhan and the 2026 Wuhan International Friendship Cities Cooperation Conference, held from Sept. 18 to 21, brought together 80 international guests from 24 cities across 22 countries, according to organizers.

At the event, mayors and city representatives from six international sister cities of Wuhan called for closer cooperation in technology, industry, education and culture.

Representatives from Manchester in Britain, Kemi in Finland, Cape Town in South Africa, Yangon in Myanmar, Rzeszów in Poland and Turkistan in Kazakhstan took part in discussions on urban innovation, industrial cooperation and cultural exchange.
 




 
Manchester: a new start after 40 years of friendship

This year marks the 40th anniversary of the sister-city relationship between Wuhan and Manchester.

Shaukat Ali, lord mayor of Manchester, said the city was ready to deepen cooperation with Wuhan in education, culture, youth affairs, innovation and industry.

“Manchester is committed to promoting urban transformation through open cooperation, sharing opportunities, and fostering common development with international sister cities like Wuhan,” he said.

Ali said Manchester had developed from a post-industrial city into an innovation-oriented economy, with a focus on advanced manufacturing, artificial intelligence, life sciences and green technologies.

He said the two cities could share experience in urban transformation, innovation districts, university-industry cooperation and low-carbon development, while encouraging links among universities, businesses and research institutions.

He also highlighted existing educational and cultural links, including cooperation between Hubei University and Manchester Metropolitan University and exchanges between the Royal Northern College of Music and Wuhan Conservatory of Music.

Kemi: balancing growth with environmental protection

Mikko Koivulehto, chairman of the City Council of Kemi, said the Finnish city sought to balance economic growth with environmental protection.

“We believe that protecting nature and building a prosperous city can go hand in hand,” he said.

Kemi, a port city in Finnish Lapland, has developed industries based on renewable raw materials, clean energy and the bioeconomy. The city is also seeking to expand tourism and improve livability.

This year marks the 10th anniversary of the friendly exchange relationship between Wuhan and Kemi. The two cities have cooperated in areas including trade, the circular economy, tourism and youth exchanges.

Cape Town: technology and jobs key to urban transformation

Lungelo Mbandazayo, city manager of Cape Town, said technological innovation, talent development, infrastructure and green renewal were key to Wuhan’s transformation.

Cape Town, a UNESCO City of Design, is seeking to expand its technology and digital sectors while promoting green technology and an inclusive economy.

Mbandazayo said youth unemployment remained a major challenge for Cape Town and that technological development needed to create jobs.

After visiting Wuhan companies and technology facilities, he said Cape Town hoped to deepen exchanges with Wuhan in technology and talent.

Yangon: seeking practical cooperation with Wuhan

Yangon Mayor Myo Myint Aung said the city was looking to Wuhan for experience in smart-city development, digital governance, intelligent transport and urban resilience.

Wuhan and Yangon signed a letter of intent on friendly exchanges and cooperation during the event.

Yangon is developing a long-term plan to accommodate population growth and expand its urban, industrial and transport infrastructure.

During a visit to Wuhan on Sept. 19, Myo toured the Optics Valley “Photon” suspended monorail, HGTECH and a Xiaomi smart home appliance factory.

“We came to Wuhan not just to observe, but to learn and cooperate,” he said, adding that Yangon hoped to develop smart manufacturing and strengthen cooperation in information technology.

Rzeszów: opportunities in aerospace and technology

Rzeszów Mayor Konrad Fijołek said the Polish city hoped to cooperate with Wuhan in aerospace, sensor technology, biodiversity and climate action.

Rzeszów is home to the “Aviation Valley,” a major aerospace cluster in Central Europe.

“Exploring cooperation with Wuhan is the reason I came here,” Fijołek said.

After visiting HGTECH and a Xiaomi smart home appliance factory, he said Wuhan’s automated manufacturing and technologies in sensors and satellite systems had impressed him.

He said cities could help connect universities, businesses and research institutions and promote international cooperation.

Turkistan: five areas for cooperation

Turkestan Mayor Azimbek Pazylbekuly said his city hoped to expand cooperation with Wuhan in tourism and culture, education and science, investment and entrepreneurship, digitalization and innovation, and transport and logistics.

Wuhan and Turkistan signed a memorandum of intent on friendly exchanges and cooperation during the event.

Turkistan, an ancient Silk Road city and a UNESCO World Heritage site, has been developing industries including food processing, textiles, furniture and construction materials.

Pazylbekuly said cooperation between governments, businesses, universities and research institutions could help turn the two cities’ exchanges into concrete projects.

The conference also included friendship-city anniversary celebrations and a signing ceremony for 10 cooperation projects. A digital list of cooperation opportunities and an initiative on international friendship-city cooperation were released.

During their stay, the visiting mayors toured Wuhan’s technology, manufacturing and ecological facilities, including the Optics Valley suspended monorail, a Yangtze finless porpoise conservation center, Xiaomi, HGTECH and Dongfeng Motor facilities.
  




 

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Binance Invests $100 Million in Circle, Expands Strategic Partnership and Renews for Five Years

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22 minutes ago

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September 24, 2026

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Binance

New five-year agreement focuses on promotion of USDC globally

JOHANNESBURG, South Africa, September 23, 2026/APO Group/ –Binance (www.Binance.com) today announced a $100 million equity investment in Circle Internet Group, Inc. (NYSE: CRCL) and the expansion and renewal of its strategic partnership to promote USDC across Binance’s global platform. The new arrangement has a term of five years.

Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products

Under the expanded partnership, Binance will promote USDC across its global platform, especially in emerging markets. Circle will provide the infrastructure services that support holding and using USDC.

 




  

In connection with the partnership, Binance purchased $100 million worth of shares of Circle Class A common stock, through a private placement at a purchase price reflecting a five percent discount to the market price of CRCL prior to closing.

“Circle has earned its place as one of the most credible issuers in the world spanning USDC, Arc and the infrastructure reshaping how value moves across borders. Our $100 million investment and five-year commitment represent long-duration conviction,” said Richard Teng, co-CEO of Binance. “We are helping to build a more inclusive, transparent, and compliant digital economy. A stable, trusted digital dollar should not be a privilege–it should be available to anyone with a phone. That’s the future this partnership is designed to deliver.”

“Binance has built one of the largest and most dynamic platforms in the world for using digital currency, creating the internet’s largest financial super app, and becoming the most widely used wallets in the world for dollar stablecoins,” said Jeremy Allaire, Co-founder, Chairman and CEO of Circle. “Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products, and reach people and businesses throughout global emerging markets.”

Distributed by APO Group on behalf of Binance.

 

 




 

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Africa Finance Corporation (AFC) Supports Successful Close of ₦729 Billion Series 2 Bonds to Advance Nigeria’s Power Sector Reforms

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24 minutes ago

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September 24, 2026

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Africa Finance Corporation

Working in partnership with CardinalStone Partners as co-Financial Advisers, the transaction reflects AFC’s deep local market expertise and its continued commitment to delivering complex, high-impact policy advice and financial solutions that catalyse sector-wide reform

ABUJA, Nigeria, September 23, 2026/APO Group/ –Africa Finance Corporation (AFC) (https://www.AfricaFC.org/), the continent’s leading infrastructure solutions provider, today announced its critical role as Co-Financial Adviser on the successful close of the ₦728.9 billion Series 2 power sector bond transaction by NBET Finance Company Plc, under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The programme is designed to resolve over a decade of legacy debt obligations within the Nigerian electricity supply industry.

 




  

This issuance follows the ₦501 billion inaugural Series 1 transaction completed in January 2026, where AFC played the same role of Co-Financial Adviser. The Series 2 close, which brings the cumulative issuance under the Programme to approximately ₦1.23 trillion, marks a significant milestone in the implementation of the ₦4 trillion Power Sector Multi-Instrument Issuance Programme..

The Presidential Power Sector Debt Reduction Committee (PPSDRC) oversees the Programme, with the Office of the Special Adviser to the President on Power provides technical leadership, implementing through the Nigerian Bulk Electricity Trading Plc (NBET)’s special purpose vehicle, NBET Finance Company Plc. Proceeds from the Series 2 issuance will continue to enable the process of settling verified, overdue receivables owed to Power Generation Companies (GenCos) for electricity supplied between February 2015 and March 2025, further extinguishing legacy claims and injecting liquidity into the electricity industry.

Closing the second issuance within eight months of the inaugural series shows the Programme is working as designed

Building on its critical role in Series 1, AFC provided comprehensive financial advisory services to the Federal Government of Nigeria on the Series 2 transaction, including support in negotiating and executing Settlement Agreements with additional GenCos, structuring of the Series 2 cash and non-cash tranches, and investor engagement ahead of the offer. Working in partnership with CardinalStone Partners as co-Financial Advisers, the transaction reflects AFC’s deep local market expertise and its continued commitment to delivering complex, high-impact policy advice and financial solutions that catalyse sector-wide reform.

Banji Fehintola, Executive Board Member and Head, Financial Services at Africa Finance Corporation, said, “Closing the second issuance within eight months of the inaugural series shows the Programme is working as designed- verified legacy obligations are being converted into transparent, investable instruments, and domestic investors are backing that approach. AFC is proud to continue supporting the Federal Government in delivering reforms that restore liquidity to the power sector and lay the foundation for new investment into Nigeria’s generation capacity.”

The Series 2 transaction comes on the back of the full and timely payment of the first coupon and principal instalment on the Series 1 Bonds in July 2026, demonstrating the Federal Government’s commitment to honouring its obligations under the Programme and reinforcing the credibility of the capital-markets approach to resolving legacy sector debt. The issuance, which was oversubscribed, attracted strong demand from pension fund administrators, banks, sovereign wealth funds and asset managers, further mobilising domestic long-term capital for critical electricity infrastructure in Nigeria.

When completed, the Programme will impact approximately 5,398MW of electricity generation capacity by Nigerian GenCos, effectively finalising settlement of payments for 290,644.84GWhr of electricity billed since February 2015 and providing a strong foundation for new investments into capacity enhancement and expansion by companies serving 12 million active registered customers across the country.

Mr. Akin Odeyemi, Managing Director/Chief Executive Officer, Nigerian Bulk Electricity Trading (NBET) Plc. said, “For too long, verified receivables have sat on GenCos’ balance sheets, limiting their ability to pay gas suppliers, maintain plants and invest in new capacity. With Series 2, we are turning more of those arrears into liquidity across the electricity value chain. We thank our investors, the participating GenCos, our advisers and the regulatory authorities whose support made this issuance possible.”

Nigeria’s Presidential Power Sector Financial Reforms Programme forms a fundamental aspect of the energy sector reforms by the government, alongside significant ongoing investments in consumer metering and transmission infrastructure, and a transition to bilateral electricity trading between wholesale counterparties based on market-reflective pricing. Together, these reforms are aimed at ensuring the evolution of a viable and sustainable electricity market in Nigeria to support long-term industrial growth and development.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

 




 

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