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A Partner of the Future: Sonangol Targets Robust Oil & Gas Growth

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AEC

The AEC believes that Sonangol is a strategic partner for Angola’s oil and gas industry and will continue to play a major role in facilitating investment and driving project developments

LUANDA, Angola, June 14, 2024/APO Group/ — 

The African Energy Chamber (AEC) (www.EnergyChamber.org)– led by Executive Chairman NJ Ayuk – met with Sonangol CEO Sebastião Gaspar Martins in Luanda this week, where the parties discussed Sonangol’s vision for the oil and gas industry. Martins is speaking at the African Energy Week (AEW): Invest in African Energy conference this November – Africa’s premier energy event, hosted in Cape Town.

The AEC believes that Sonangol is a strategic partner for Angola’s oil and gas industry and will continue to play a major role in facilitating investment and driving project developments. With a focus on expanding exploration and production, the company plays a critical role in Angola’s efforts to boost its oil and gas industry and bolster economic growth.

Angola aims to produce 1.1 million barrels of oil per day (bpd) by 2027, with plans to reach two million bpd in the long-term. At the same time, the country aims to increase the share of natural gas in the energy mix to 25% by 2025, highlighting strategic opportunities for foreign investors and project developers. To achieve these goals, the country’s NOC Sonangol has undergone a transformation – underpinned by a privatization initiative spearheaded by the government. Now, Sonangol has emerged as a strong and reliable partner for oil and gas companies, and is committed to ushering in a new era of economic growth on the back of oil and gas development.

To support exploration and production, Sonangol is driving a series of projects in partnership with IOCs. The NOC – alongside project partners TotalEnergies and Petronas – made FID on the Kaminho deepwater project in May 2024. Comprising the Cameia and Golfinho fields, the project represents the first large deepwater development in the Kwanza Basin. Production is on track for 2028. Additionally, Sonangol is developing the Agogo Integrated West Hub Development Project in collaboration with international energy company Azule Energy. This project involves drilling 36 new wells and installing an FPSO with a production capacity of 120,000 bpd, a gas injection capacity of 230 million standard cubic feet per day, and a water injection capacity of 12,000 bpd. Scheduled for operational by late-2025, this initiative underscores Sonangol’s commitment to expanding oil production.

Additionally, in January, Sonangol announced the successful drilling of the second evaluation well in Block 11 of the onshore Kwanza basin. The drilling confirmed positive results in the Tobias field, greatly enhancing its potential. This positive outcome, alongside the success of the Tobias 13 well, positions Sonangol and its partners for the reactivation of production in the Kwanza basin by the end of the year.

Meanwhile, Sonangol’s strategic initiatives are not only focused on increasing oil production but also on embracing a more sustainable energy mix. The company’s commitment to boosting the share of natural gas reflects a broader trend towards cleaner energy sources. By integrating more natural gas into its energy portfolio, Sonangol aims to reduce carbon emissions and support global efforts towards energy transition. In December 2023, Sonangol inaugurated the Falcão Phase 2 gas project, enhancing the Angola LNG plant’s capability to supply gas to the Soyo 1 combined-cycle power plant. This initiative has increased processing capacity to 125 million cubic feet and extended gas distribution to industrial and petrochemical facilities in southern Angola.

“Sonangol is positioning itself as a key partner in Africa’s energy sector, driving significant advancements and fostering partnerships both locally and internationally. With a strategic focus on expanding E&P capabilities, Sonangol plays a central role in Angola’s ambitions to enhance oil and gas output,” states NJ Ayuk, Executive Chairman of the AEC. “Sonangol’s vision for Angola encompasses not only meeting domestic energy needs but also leveraging its expertise to support regional energy security, foster economic diversification and alleviate energy poverty.”

At the upcoming AEW: Invest in African Energy conference – scheduled for 4-8 November in Cape Town – Sonangol will play a leading role. A key event highlight will be the Invest in Angola Energies roundtable, where Sonangol’s participation is set to stimulate discussions among stakeholders, investors and policymakers on advancing Angola’s oil and gas sector through strategic investments and opportunities.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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