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Invest More in Africa—Akinwumi Adesina Urges Keen Irish Business Community

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4 years ago

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Irish Business Community

The exhortation from Africa’s premier development finance institution’s chief was matched by the Irish authorities’ publicly expressed enthusiasm about Ireland-Africa cooperation

ABIDJAN, Ivory Coast, July 4, 2022/APO Group/ —

Since joining the African Development Bank Group (www.AfDB.org) as its 81st shareholder in 2020, Ireland has shown steadily increasing interest in strengthening its economic ties with Africa. That mission received a strong boost last week at the 7th Africa Ireland Economic Forum in Dublin, as African Development Bank Group President Dr. Akinwumi Adesina enjoined the Irish business community to invest more in Africa.

“If you are not investing in Africa, you’re not in business,” Adesina told his audience. “Foreign direct investment of Ireland in Africa was $572 million at the end of 2020 and represented only 0.05% of Ireland’s total net foreign direct,” Adesina said. “This is too low. Ireland should invest a lot more in Africa. Let’s set a target of 15% of Irish investments in Africa.”

The exhortation from Africa’s premier development finance institution’s chief was matched by the Irish authorities’ publicly expressed enthusiasm about Ireland-Africa cooperation. Speaking at the forum on Thursday, Minister of Foreign Affairs and Minister of Defence Simon Coveney talked about Ireland’s deepening economic and cultural links with Africa. He noted the prospects for closer trading links with the continent, pointing out that trade between Ireland and Africa would likely reach €5 billion by 2025.

Receiving the Bank Group chief on Friday, Irish President Michael D. Higgins congratulated Adesina for his work on the recent establishment of the African Pharmaceutical Technology Foundation. “Nothing is more important than that,” said President Higgins. He spoke about his long-time interest in Africa and his optimism for its economic advancement. Discussing the looming global food crisis prompted by Russia’s war in Ukraine, President Higgins welcomed the pre-emptive steps the Bank had taken to ensure food security for the continent.

Describing their meeting, Adesina said: “President Higgins so warmly received me. He has a heart and passion for Africa. He told me: ‘You are doing such an incredible job for Africa with your leadership in running the African Development Bank. I am inspired by your vision.’”

Foreign direct investment of Ireland in Africa was $572 million at the end of 2020 and represented only 0.05% of Ireland’s total net foreign direct

Similar support for continued strong cooperation came from senior Irish officials with whom Adesina met during his visit, notably: Colm Brophy, Minister of State for Overseas Development Aid and Diaspora; John Hogan, Secretary General of the Department of Finance and Alternate Governor for Ireland at the African Development Bank Group; and Paul Ryan, Director of the department’s International Finance and Climate Division, which is responsible for managing Ireland’s shareholding in international financial institutions.

Adesina thanked the Irish government for joining the African Development Bank and the African Development Fund, the Bank Group’s concessional lending arm, and he expressed appreciation for Ireland’s contribution—announced by Foreign Affairs and Defence Minister Coveney on Thursday—of €2 million to the African Development Bank for climate adaptation.

In an address (https://bit.ly/3Ap2qkt) to the forum on Thursday, the African Development Bank head held a packed conference hall captive as he spoke about the current African economic environment, the continent’s challenges, its many opportunities, and about the African Development Bank Group’s role as a “solutions bank,” a valued partner to its regional member countries, its international development partners, and to the international business community, whose investment he said was desirable. “You can count on the African Development Bank as a partner,” he stressed.

The Bank president was also interviewed (https://bit.ly/3NFm9PZ) at the Institute of International European Affairs (IIEA) by Ambassador David Donoghue, Ireland’s former Permanent Representative to the United Nations. Welcoming Adesina, he said: “Dr Adesina is often described as Africa’s Optimist-in-Chief and is widely praised for his visionary leadership and passion for the transformation of Africa. Since he took over as President of the African Development Bank in 2015, the Bank has achieved the highest capital increase since its establishment in 1964.”

In his opening remarks, Paul Ryan said: “As well as being Africa’s Optimist-in-Chief, I’d like to say to Dr. Adesina that he is also Ireland’s closest friend in the African Development Bank and in the continent of Africa as well. He has been a fabulous partner for Ireland for the last couple of years, particularly since we joined the Bank in February of 2020. […] The response by the Bank—under the leadership of the President—to Covid and now to the Ukrainian war, has been absolutely exemplary. A lot of future-proofing kicking has been done in relation to food security, renewable energy, economic development, and it’s exactly in line with our developmesnt objectives. We are very happy to join the bank, very pleased with the level of engagement and really pleased with the work that the Bank has been doing in the continent.”

Ryan added that Adesina—“first elected President of the Bank in 2015 and unanimously re-elected for another five-year term in August of 2020”—is a bold reformer who completely transformed the agriculture sector in Nigeria as agriculture minister over four years, and that he has replicated that same success at the African Development Bank. “We are very happy with the President. Our fellow colleagues in the constituency are very happy. And more importantly, the wider membership in the continent of Africa are very happy.”

Adesina spoke about the work of the Bank—in particular the High 5 Strategic Priorities that he is credited with developing for the institution—and how he saw these priorities as the fulcrum for both transforming Africa and helping to achieve the UN Sustainable Development Goals.

Adesina invited officials and private sector operatives to the next edition of the Bank’s Africa Investment Forum, taking place in Abidjan in November.

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

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Investment, Fuel Security and Strategy to Take Center Stage Across Angola Oil & Gas (AOG) 2026 Multi-Track Program

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1 day ago

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March 27, 2026

By

Energy Capital

With strategic, technical and roundtable discussions, AOG 2026 strengthens its position as Angola’s premier platform for industry dialogue, investment and project development

LUANDA, Angola, March 27, 2026/APO Group/ –The Angola Oil & Gas (AOG) Conference and Exhibition returns to Luanda this September as a bridge connecting global investors and project developers with Angolan projects and partners. At a time when global supply disruptions and geopolitics are sharpening consumer focus on Africa, Angola offers the stability, resource base and investment appeal needed to support long-term security. Reflecting this focus, AOG will once again feature a multi-track program designed to showcase Angolan opportunities to a global audience.

Across three primary tracks – the Strategic, Technical and Roundtables Track – AOG 2026 will bring together policymakers, operators, financiers and technology providers to address challenges and opportunities across the full investment value chain. The expanded program structure underscores the event’s commitment to facilitating targeted discussions that support project development, strengthen partnerships and address the most pressing challenges facing Angola’s oil and gas sector today.

Strategic Track

As Angola continues to position itself as a leading African investment destination, the AOG 2026 Strategic Track will provide a platform for high-level dialogue between government, operators and investors, focusing on the policies, partnerships and capital frameworks required to sustain production and drive new exploration. Taking place across the two-day main conference, the Strategic Track will address the macro and investment-driven themes shaping Angola’s oil and gas industry.

Sessions will cover investment trends, Angola’s upstream competitiveness, advancing deepwater frontier momentum and opportunities in building an Angolan gas economy. Additional discussions will examine oil trade and the impacts of geopolitics, financing solutions for independents, fuel supply security and refining and the economics of local content success.

Technical Track

Running alongside the Strategic Track, the Technical Track will feature a series of presentations and discussions addressing critical operational and technical challenges across Angola’s oil and gas sector. This track will focus on practical solutions and emerging technologies that are shaping the future of the industry.

Topics will include M&A trends and asset transactions, accelerating AI adoption in oil and gas operations, building the next generation workforce and developing decommissioning frameworks for ageing assets. By focusing on operational efficiency, technology deployment and workforce development, the Technical Track will provide valuable insights for companies looking to optimize performance and extend the life of Angola’s producing assets while preparing for the next generation of projects.

Roundtables Track

A strategic feature at AOG, the Roundtables Track will introduce a more interactive discussion format focused on some of the industry’s most complex and strategic issues. These sessions will bring together small groups of stakeholders for targeted discussions on ensuring global compliance, Angola’s licensing landscape, partnerships and the future of upstream development.

Additional topics will include resolving the dollar/kwanza conundrum, the role of local financial institutions in the oil and gas sector and strategies to strengthen collaboration between international investors and local companies. The introduction of the Roundtables Track reflects growing demand for more focused, solution-driven discussions that move beyond traditional conference formats and toward practical problem-solving and partnership building.

Additional Features: Pre-Conference

In addition to the main conference program, AOG 2026 will include a dedicated pre-conference agenda on September 8, setting the tone ahead of the main conference discussions. Pre-conference sessions will cover subsurface imaging and structural analysis, Angola’s fiscals in a global context and strategies for strengthening Angolan institutions.

Several industry-led workshops will also take place, with companies offering insights into the technologies, solutions and tools that are transforming Angola’s oil and gas sector. These sessions are designed to provide practical knowledge sharing while highlighting the role of technology and innovation in improving efficiency and supporting new project development.

With an expanded multi-track program and the introduction of the Roundtables Track, AOG 2026 continues to evolve into a platform designed to drive investment, strengthen partnerships and support the next phase of Angola’s oil and gas growth.

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

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Energy

Minister Ernesto Kesar Joins Caribbean Energy Week (CEW) 2026 as Trinidad and Tobago Accelerates Upstream Momentum

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1 day ago

on

March 27, 2026

By

Energy Capital

The participation of Minister Ernesto Kesar at Caribbean Energy Week comes as the country advances new upstream projects, gas developments and regional energy cooperation

PARAMARIBO, Suriname, March 27, 2026/APO Group/ –Ernesto Kesar, Minister in the Ministry of Energy and Energy Industries of Trinidad and Tobago, has officially joined the upcoming Caribbean Energy Week (CEW), reinforcing the country’s commitment to upstream growth at a time of renewed momentum in the oil and gas sector.

 

As the twin-island country advances new gas supply projects, encourages exploration and strengthens regional energy ties, Minister Kesar’s participation at CEW 2026 is expected to serve as a launchpad for strengthened regional ties.

Minister Kesar’s participation comes amid a multi-billion-dollar investment surge in Trinidad and Tobago as operators advance projects, regional energy ties and strategic partnerships. At the helm of these efforts, the Ministry of Energy and Energy Industries continues to prioritize upstream investment, deepwater exploration and cross-border gas projects, positioning the country as a regional hub for natural gas production and LNG exports.

Recent milestones reflect this momentum, with several projects starting production and exploration kicking off across key basins. The bpTT-led Cypre gas project achieved first gas in April 2025, with peak production estimated at 45,000 barrels per day (bpd) – translating to around 250 million standard cubic feet of gas. The project comprised seven wells and will enhance the country’s overall export capacity. In partnership with EOG Resources, the company also started production at the Mento field in 2025, featuring a 12-slot, attended facility.

Looking ahead, bp’s Ginger gas development is on track for first gas production in 2027 following FID reached in 2025. With an expected capacity of 62,000 bpd, the project will feature four subsea wells tied back to the company’s existing Mahogany B platform. The company is also evaluating development options for its Frangipani exploration well which identified multiple stacked gas reservoirs in 2025. These initiatives will not only bring additional volumes online to support LNG exports and domestic capacity, but strengthen the country’s position as a regional hub for oil and gas.

Beyond projects, Trinidad and Tobago is advancing exploration efforts with a view to strengthen its reserves. The company awarded an ultra-deepwater exploration block to ExxonMobil in 2025, signaling the company’s return to the market after nearly two decades. The milestone not only paves the way for the development of Block TTUD-1, but opens the door to nearly $20 billion in potential investment. The move follows a 2025 licensing round launched by the Ministry of Energy and Energy Industries in 2025, aligning with national goals of revitalizing exploration across deepwater margins.

On a regional front, Trinidad and Tobago is streamlining cross-border collaboration. The country recently secured a license from the United States authorizing oil and gas activities with Venezuela. The approval allows Trinidad-based companies to pursue cross-border gas developments, paving the way for Venezuela to feed new gas volumes into Trinidad and Tobago’s existing LNG and processing infrastructure. The move will not only sustain gas exports but accelerate long-delayed projects such as the Dragon gas field – situated near the maritime border of the two countries.

Trinidad and Tobago is also assessing options to restart the Pointe-a-Pierre refinery, which has been closed since 2018 following the restructuring of state-owned Petrotrin. The government is currently in talks with various partners as well as Guyana to reopen the facility. If brought back online successfully, the facility would support regional energy security efforts, highlighting a strategic opportunity for global and regional investors.

As upstream momentum continues to build, the upcoming CEW 2026 offers a strategic platform to advance dialogue on regional gas monetization, energy security and investment opportunities. Minister Kesar’s participation reflects Trinidad and Tobago’s commitment to strengthening Caribbean energy ties, paving the way for new collaborations and sustained investment.

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

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China’s 15th Five-Year Plan: Charting Solutions in an Uncertain World

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1 day ago

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March 27, 2026

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China

CGTN’s special feature explores potential impacts of China’s 15th Five-Year Plan beyond its borders.
BEIJING, CHINA – Media OutReach Newswire – 27 March 2026 – As policymakers and business leaders convene at the Boao Forum for Asia Annual Conference, one of the most closely watched gatherings on the global calendar, attention is turning to China’s national development blueprint: the 15th Five-Year Plan. Beijing’s latest development roadmap arrives at a critical moment, as the world is grappling with geopolitical tensions, economic fragmentation and climate change. With these challenges mounting, many international observers are exploring how this blueprint will shape future development trajectories within China and beyond.
Achim Steiner, former administrator of the United Nations Development Programme, regards green transition, which takes center stage in China’s 15th Five-Year Plan, as one of the defining economic shifts of the coming decades. He emphasizes that China’s leadership on renewable energy, ranging from solar panels to electric vehicles, have not only driven down global costs, but also turned technologies like EVs that were once considered “luxury and privilege” into accessible tools for people’s daily lives. He noted such a giant leap in green technology represents a frontline opportunity for transformation on the African continent, where over 600 million people still lack electricity. Steiner believes the green mindset adopted by Beijing will help many developing nations to avoid catastrophic fallout from climate change. And as certain western nations waver on climate commitments, China’s approach to addressing global warming, in contrast, provides a compelling model of a responsible nation, which suggests that green growth can be a policy priority and allow for win-win progress.

Mohd Faiz Abdullah, executive chairman of the Institute of Strategic and International Studies in Malaysia, situates China’s development strategy within a regional context. He says that the cooperation between China and ASEAN has been contributing to regional and global growth. He described the global economic status quo as “increasingly fragmented,” adding that the key challenge is “not to help one individual economy grow,” but to achieve shared and sustained prosperity “at regional and global levels.” Such a joint task requires shared responsibility in a variety of crucial areas covered in China’s 15th Five-Year Plan, including advanced manufacturing, green transition and technological upgrading. In his view, the development vision demonstrated in China’s 15th Five-Year Plan is not solely inward-looking, but also a domestic model that can convert to outward impact to the wider world. Abdullah also highlighted that China and ASEAN have already formed one of the world’s most dynamic economic partnerships, characterized by expanding investment flows and deepening integration. He believes that the continued implementation of the Regional Comprehensive Economic Partnership will ensure ASEAN and China can work together to achieve shared economic progress for the next decade.

Justin Yifu Lin, former chief economist for the World Bank, argues that while the global economy is mired in uncertainty and turbulence, China remains a rare source of stability, certainty and development momentum. Since about 2008, he noted, China has contributed roughly 30 percent of global growth, underscoring its role as a key engine of the world economy. Acknowledging that challenges are universal rather than unique to China, Lin stressed that what matters is the ability to recognize both constraints and opportunities, and to turn the latter into tangible growth. He pointed to China’s continued potential in technological innovation and industrial upgrading, supported by its large talent pool, vast domestic market, comprehensive manufacturing base and effective coordination between market forces and government policy. While external risks such as supply chain disruptions and trade tensions persist, alongside domestic pressures, including aging and regional development imbalance, Lin suggests China still holds significant growth potential, possibly around 8 percent per year through 2035, if these challenges are well managed.

In a world increasingly defined by uncertainty, China’s 15th Five-Year Plan is deemed as an important source of direction and momentum. As the country aims for a good start to its next five-year development period, seeking to advance modernization through high-quality development, major tasks still lie ahead.

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