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African Development Bank cuts sod for construction of permanent Country Office, cementing over five-decades of partnership with Zambia

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African Development Bank

The African Development Bank Group (www.AfDB.org) commenced construction of its permanent country office in Lusaka on Friday, marking a transformative milestone in the institution’s 54-year partnership with Zambia.

Since establishing its temporary country office in 2007 with just four staff members, the African Development Bank’s presence in Zambia has grown to 20 permanent staff. The Bank’s cumulative investment in Zambia now stands at $2.7 billion across multiple sectors, with a current active portfolio worth nearly $1 billion.

The groundbreaking event was attended by Finance and National Planning Minister Dr. Situmbeko Musokotwane; African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo; the Bank’s Director of Real Estate Management, Procurement and General Services, Gail Meakin, as well as other senior government officials, members of the diplomatic community, other development partners, and private sector chief executive officers.

The new office design incorporates cutting-edge sustainability features and wellness-focused design. It will house expanded operations while contributing to Zambia’s economic growth through job creation and business stimulation during both construction and operation. The building is expected to be completed by 2027. It will be a smart building with conferencing and staff wellness facilities, with low energy consumption, a wastewater recycling system, and large green spaces.

Dr. Musokotwane emphasized the significance of a permanent office. “This occasion is not just ceremonial – it’s a vote of confidence in our country, our government, and our people. It recognizes Zambia’s commitment to forge a better future for Africa.”

The Minister thanked the African Development Bank for providing much-needed financial support during Zambia’s development journey and conveyed the President of Zambia’s support for the Bank’s decision to establish a permanent office building and continued development work in the country.

“The African Development Bank’s support has produced many positive results in sectors such as transport, agriculture, water and sanitation, and energy.  This shows the Bank’s commitment to deliver on its vision for the African continent,” the Minister said. “AfDB’s support to Zambia has been instrumental in supporting the country’s development goals espoused in the national development plans, which emphasize, among others, the need to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation in all the sectors of the economy.”

This new office demonstrates our continued commitment to strengthening our partnership with Zambia

Musokotwane listed some of the Bank’s transformative work in Zambia, singling out the Kazungula Bridge Project (https://apo-opa.co/4jORboP), for special commendation.

“We also wish to take this opportunity to commend the Bank for the support rendered to Africa. Through the Bank, major projects have been implemented both at country and continent level to support regional integration in Africa. Key among the projects implemented is the Kazungula bridge project, which is a major infrastructure initiative that involves constructing a road and rail bridge connecting Zambia and Botswana.”

Other notable projects in Zambia include the Integrated Small Towns Water and Sanitation project, the Lusaka Sanitation Programme, Skills Development and Entrepreneurship Project, and the Multi-Purpose Small Dams Project.

Musokotwane urged the Bank to consider expanded support for regional drought recovery efforts, emphasizing the need for building economic resilience across the region. The Southern Africa region is still recovering from the devastating droughts of 2023-2024.

Nwabufo thanked the Government of Zambia for providing the prime land within Lusaka for the construction of the Bank’s country office.

“This new office demonstrates our continued commitment to strengthening our partnership with Zambia. We are here to stay – after all, the African Development Bank is your Bank,” said Bank Vice President Nwabufo.

She reaffirmed the Bank’s commitment, announcing a $250 million commitment to the transformative Lobito Corridor Development Project (http://apo-opa.co/4kY4CU7). The Lobito Corridor is a major economic route connecting the port of Lobito in Angola to the Katanga province in the Democratic Republic of Congo and the Copperbelt in Zambia. It encompasses the construction of the Zambia-Angola railway, the rehabilitation of the DRC segment of the railway with the establishment of a public-private partnership, and the upgrading and operationalisation of the Angolan railway.

The African Development Bank’s investments in Zambia continue to deliver impactful results:

  • The 923-meter-long Kazungula Bridge (https://apo-opa.co/44an9XL) project – supported by the African Development Bank Group with a US$ 81.6 million investment – has revolutionized cross-border trade, reducing transit times from 2.5 days to just half a day.
  • The Chinsali-Nakonde road rehabilitation and Nacala Road Corridor projects have similarly enhanced regional connectivity.
  • National water access has increased from 69% to 72% between 2015-2022, while sanitation coverage rose from 50% to 58%, providing 1.9 million additional people with improved water access.
  • Through the Bank’s agriculture sector, over 1.5 million households have seen their average annual incomes surge from US$320 in 2017 to US$1,300 in 2022. Agricultural productivity has soared, with maize production increasing from 2.9 million tonnes to 3.9 million tonnes and aquaculture output expanding from 20,000 tonnes to 76,000 Tonnes. The Bank’s interventions in the sector have generated approximately 500,000 jobs.
  • Following the Bank’s intervention in the social sector, including the $30 million Skills Development and Entrepreneurship Project, SME productivity and competitiveness have improved, leading to increased job creation. Eight industrial yards have been constructed in Chipata, Kasama, Mongu, Ndola, Solwezi, Lusaka, Mansa, and Kitwe, with the capacity to accommodate 172 SMEs across various light manufacturing sub-sectors.

The African Development Bank’s 2024-2029 Country Strategy Paper for Zambia focuses on two key priorities: enhancing private sector development through infrastructure investments and promoting agricultural value chains to support youth and women’s employment. This will guide the Banks’ interventions in Zambia for the stated period.

African Development Bank Country Manager for Zambia, Olaniyi Durowoju, noted that “the office would serve as a modern and efficient workspace, and a beacon of innovation and a vibrant hub for partnerships, and collaboration with the Bank’s stakeholders, enabling us better to serve our clients and the people of Zambia”.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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