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The African Energy Chamber (AEC) Visits China to Tap into Private Investment for African Energy and Infrastructure

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African Energy Chamber

The African Energy Chamber’s working visit to China aims to unlock new areas of collaborative project development and financing – primarily across the oil and gas industry

JOHANNESBURG, South Africa, August 28, 2024/APO Group/ — 

Chinese foreign direct investment in Africa has increased significantly in recent years as Beijing strengthens its global trade and credit lines. Programs such as the Belt and Road Initiative – a China-led global infrastructure initiative – have seen up to $21.7 billion invested in Africa in 2023 alone while together, state-owned China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation and China Petroleum & Chemical Corporation represent the fourth-largest energy investors on the continent. As new opportunities in upstream hydrocarbon development, regional infrastructure and downstream processing unfold, China’s project portfolio in Africa is expected to substantially grow.

Given emerging opportunities for Chinese investors in Africa, the African Energy Chamber (AEC) – serving as the voice of the African energy sector – will conduct a working visit to China under efforts to promote new investment and global partnerships. A delegation led by AEC Executive Chairman NJ Ayuk will hold bilateral meetings with Chinese government officials and the private sector, with discussions centering around investment opportunities, bankable projects and China’s emerging role in Africa’s upstream, midstream and downstream sectors.

China’s Growing Energy Presence in Africa

As Africa’s pipeline of bankable oil and gas projects grows, Chinese investors are bound to play an even greater role in supporting development across the industry

Already boasting a strong presence in Africa’s mineral and renewable energy sectors, Chinese state-owned and private companies are turning their attention to developing African oil and gas resources. Wing Wah, a Chinese oil and gas company, is pioneering a comprehensive project in the Republic of Congo, designed to optimize resource monetization and promote the use of natural gas. The Bango Kayo project features a innovative development model for the Bango Kayo oilfield, extending production beyond the initial block lifecycles and harnessing previously flared gas. Through three phases, Wing Wah will incrementally enhance gas processing and valorization capabilities to produce LNG, butane, and propane. The primary focus is on meeting domestic demand, with surplus gas exported globally, positioning the project as a key contributor to the country’s energy landscape.

In Angola, China has invested just shy of $14 billion in the past decade, the majority of which in energy. At present, Chinese companies are advancing the development of refining projects while seeking new opportunities in upstream oil and gas. Earlier this year, a group of executives from CNOOC travelled to Angola to discuss investment opportunities in oil exploration. CNOOC is assessing an investment in Angola’s Block 24, a deepwater concession with promising potential. Construction firm China National Chemical Engineering also signed an MoU with Angola’s national oil company Sonangol in 2023 for the development of the 200,000 barrel per day Lobito Refinery – poised to be the country’s biggest.

In East Africa, CNOOC is developing the East African Crude Oil Pipeline in partnership with energy major TotalEnergies and the respective national oil companies of Uganda and Tanzania. Designed to transport crude from the Kingfisher and Tilenga oilfields in Uganda to Tanzania’s Port of Tanga, the 1,443-km pipeline is estimated to cost $5 billion. Of this, the project partners have already raised $2 billion and the Ugandan and Tanzanian governments are seeking an additional $3 billion in debt financing – primarily from Chinese lenders such as the Export-Import Bank of China and the China Export & Credit Insurance Corporation. Meanwhile, CNOOC is partnering with the Tanzania Petroleum Development Corporation to explore deep-sea Blocks 4/1B and 4/1C while holding talks with South Sudan to boost output at Blocks 3 and 7 in the Paloch fields. In West Africa, the company launched wildcat drilling in Gabon’s Blocks BC-9 and BCD-10 in 2023 and renewed its production sharing contract with the Nigerian National Petroleum Corporation and TotalEnergies for OML 130.

“As Africa’s pipeline of bankable oil and gas projects grows, Chinese investors are bound to play an even greater role in supporting development across the industry. Leveraging strong multilateral ties established under programs such as the Belt and Road Initiatives, Chinese companies are gradually emerging as the partners of choice for upcoming oil and gas projects in Africa. From upstream exploration to downstream infrastructure to power and manufacturing industries, Chinese companies can catalyze development as Africa aims to make energy poverty history by 2030,” states Ayuk.

The AEC’s working visit to China comes ahead of the African Energy Week (AEW): Invest in African Energy conference – Africa’s largest energy event, taking place November 4 – 8 in Cape Town. Amid China’s growing investment portfolio in Africa, AEW: Invest in African Energy serves to connect Chinese investors and project developers with African opportunities, fostering a new era of partnerships that drive projects forward. During the event, presentations, panel discussions and investor forums focus on bankable projects across the energy value chain in Africa, providing the information needed to advance investments.

Distributed by APO Group on behalf of African Energy Chamber.

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

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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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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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