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Time to Tap Central Africa’s Hydrocarbon Wealth with More Oil and Gas Production says African Energy Chamber (AEC)

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1 year ago

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African Energy Chamber

Taking place this week in Gabon, the Central Africa Business Energy Forum seeks to promote an enabling environment for doing business in the region

JOHANNESBURG, South Africa, October 24, 2024/APO Group/ — 

Serving as the voice of the African energy sector, the African Energy Chamber (AEC) (https://EnergyChamber.org) strongly supports the 2024 edition of the Central Africa Business Energy Forum (CABEF) – taking place this week in Gabon. The event asserts the critical role an enabling environment and market-focused policy plays in driving projects forward across the region. AEC Executive Chairman NJ Ayuk is speaking at the event, where he will outline the vital need to address foreign exchange regulations while creating an enabling environment for companies to do business.

Despite the significant potential the Central African region offers for hydrocarbon development, subsidies, taxes and unattractive fiscal terms have deterred foreign investment. Notwithstanding domestic policies, foreign exchange regulations instituted under the Bank of Central African States (BEAC) continue to cost the region. Specifically, new rules regarding transactions over US$1,700 have not only impacted the lead time for money transfers but raised overall transaction costs. This continues to serve as a major hinderance for energy projects across the region at a time when foreign capital is most-needed.

Africa loses up to $46 billion in investment and stands to lose billions more if operators are not met with enabling environments. With up to 600 million living without access to electricity and 900 million people living without access to clean cooking solutions, the continent requires much more investment to boost energy security and meet socioeconomic goals. To increase investment, African nations need to tear down the rules that make it difficult for people to invest.

The Central African region – home to some of the most promising oil and gas markets in Africa – is well-positioned to supply the continent with energy. Major producers such as Gabon, Equatorial Guinea, the Republic of Congo and Cameroon have long-been major exporters, yet production declines present newfound challenges. To counteract natural declines in hydrocarbon output, the region requires significant levels of investment in exploration. Unattractive fiscal policies and disruptive foreign exchange regulations impact spending across the upstream market, highlighting the need to address fiscal barriers.  

The event also connects foreign investors to projects, serving as a catalyst for project development

Take Equatorial Guinea, for example, whose Gas Mega Hub (GMH) offers the region a unique opportunity to monetize stranded resources. Through its Punta Europa LNG facility, the country processes gas from the Alba field. The agreement for the next phase of the GMH has been signed, enabling the Aseng field to be tied-in to existing infrastructure. Additionally, Equatorial Guinea has signed agreements with Nigeria and Cameroon to import gas. However, much more needs to be done in order to maximize the full potential of both the GMH and regional blocks. The same can be said for Cameroon as well as other regional nations such as Gabon and Chad, all of which have also faced production declines in recent years. Lack of investment in exploration can be attributed to counterproductive CEMAC policies, governance issues and tax challenges, with operators facing roadblocks and red tape.

Despite disruptive policies, efforts are being made to increase energy access and intra-African trade. Projects such as the Central African Pipeline System (CAPS) aim to connect Central Africa with other regions in Africa, featuring a network of 6,500-km pipelines connecting the oil and gas resources of 11 Central African countries. The initiative links storage depots, LNG processing facility, power plants and pumping stations, modeling energy system in Europe to spur industrialization and electrification in Africa. The AEC wholly support the CAPS project, viewing it as an instrumental development in Africa’s energy future. 

Amidst the global energy transition, Central Africa needs to rally behind its oil and gas operators. Africa cannot afford to leave its hydrocarbon resources in the ground, and as such, will need oil and gas to not only be part of but drive a just energy transition. It is important to ensure that resources are used correctly and that the continent does not transition in a way that hurts Africa. CEMAC countries need to produce every drop of oil and gas they can find to grow the region. There is no reason to apologize and to not use your oil and gas resources. Plan A is oil, Plan B is oil and Plan C is oil. We have no other plan.

Stepping into this picture, the 2024 edition of CAEBF advocates for energy sufficiency in the region. Serving as a platform where regional nations convene, the event addresses the most pressing challenges faced by energy operators in Central Africa. CABEF connects energy industry actors with the aim of accelerating the pace and success of energy projects, with a strategic focus on oil and gas developments.

“CABEF has emerged as an important platform for many reasons: by connecting regional governments and energy operators, it enables direct discussions regarding the challenges and opportunities of the region. The event also connects foreign investors to projects, serving as a catalyst for project development. The AEC is proud to once again endorse this important event and will continue to advocate for an enabling environment in Africa,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

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

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2 days ago

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February 6, 2026

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

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2 days ago

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February 6, 2026

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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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2 days ago

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February 6, 2026

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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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