Connect with us
Anglostratits

Business

African Development Bank and Côte d’Ivoire start Preliminary Discussions for 2023-2027 Strategy

Published

on

African Development Bank

The discussions focused on the first version of the country diagnostic note, prepared by the Bank for Côte d’Ivoire, and the completion report of the Bank’s 2018-2022 Country Strategy Paper (CSP)

ABIDJAN, Ivory Coast, August 1, 2022/APO Group/ — 

The African Development Bank (www.AfDB.org) and the government of Côte d’Ivoire initiated a preliminary dialogue in Abidjan on July 18-22, 2022, to lay the foundations for the Bank’s strategy in Côte d’Ivoire over the next five years.

Led by the Bank’s Deputy Managing Director for West Africa, Joseph Ribeiro, the Bank’s delegation held weeklong discussions with various stakeholders and partners in Côte d’Ivoire, including senior government officials from the Prime Minister’s office, the Ministry of Planning and Development, Ministry of Economy and Finance, and technical departments of the main ministries concerned with the Bank’s work in Côte d’Ivoire. Technical and financial partners of Côte d’Ivoire also took part in the meetings, as did representatives of the Ivorian private sector and civil society.

The discussions focused on the first version of the country diagnostic note, prepared by the Bank for Côte d’Ivoire, and the completion report of the Bank’s 2018-2022 Country Strategy Paper (CSP) (https://bit.ly/3zg0B7e) for Côte d’Ivoire, which expires at the end of the year. The dialogue also included a performance review of the portfolio of projects financed by the Bank in Côte d’Ivoire during 2022. Lessons were learnt regarding cooperation between the Bank and Côte d’Ivoire, and a number of strategic and operational recommendations were formulated with a view to improving future projects.

“Côte d’Ivoire is a strategic partner of the Bank and this dialogue with government and other stakeholders has enabled a complete diagnosis of our actions in Côte d’Ivoire and identification of strategic directions for the future Country Strategy Paper, which will cover the period 2023-2027 and will be linked to priorities of the government’s National Development Plan for 2021-2025,” Ribeiro said.

“The Bank has successfully adjusted its interventions through the use of more appropriate tools and mechanisms, as shown by the Covid-19 Rapid Response Facility, which provided a cycle of general and sectoral support for the national budget, and the Emergency Food Production Programme, which provides FCFA 96 billion ($159.33 million) of budget support to deal with consequences of the crisis in Ukraine,” said the head of the office of the Minister of Planning and Development, Yéo Nahoua, who led the Ivorian delegation.

From right to left, Joseph Ribeiro, Deputy Managing Director of the Bank for West Africa, Yéo Nahoua, Chief of Staff to the Ivorian Minister of Planning and Development, Siélé Silué, Special Advisor to the Prime Minister with responsibility for projects co-financed by technical and financial partners

The Bank is ready to support Côte d’Ivoire in implementation of its National Development Plan and provide necessary resources in the priority sectors identified by the government

“I take this opportunity to thank the Bank authorities, on behalf of the Minister of Planning and Development, which acts as the Bank’s governor for Côte d’Ivoire, for their contribution to the resilience of our economy and for further improvement in the quality of our cooperation,” he added.

The Bank’s current Country Strategy Paper (CSP) for Côte d’Ivoire, which runs to the end of 2022, supports implementation of the Ivorian government’s National Development Plan for 2016-2020. The two pillars of the plan are: strengthening key infrastructure and governance for greater competitiveness and investment efficiency; and the development of agro-industrial value chains to promote inclusive and sustainable growth.

Achievements to date regarding the first pillar include progress in the transport and energy sectors. The Bank’s interventions have been instrumental in achieving a 3.4% increase in the extent of paved intercity roads and an 83% increase for urban highways, helping to lower domestic and international transport costs and to improve trade with neighbouring countries. In the energy sector, the Bank’s interventions helped to raise access to electricity by 8.6%, although failure to achieve the target of 20% shows that further efforts are required.

Participants of the Bank-government discussions noted that challenges remain for strengthening governance in sectors concerned with the first pillar, and that interventions are to be stepped up for improvement of the business climate and support to small and medium-sized enterprises.

Regarding the second pillar, the Bank’s operations have strengthened research management structures in the agricultural sector and improved productivity in several agricultural sectors (maize, rice, cassava and market gardening). But more work needs to be done to support the infrastructure of agricultural value chains, particularly agro-industrial processing of local products, which is a key element of the second pillar.

The Bank had a portfolio of 44 projects in progress at the end of June 2022 in Côte d’Ivoire, representing commitments of approximately FCFA 1,528 billion or $2.41 billion. The commitments are dominated by transport infrastructure (43.5%), followed by energy (23.6%), agriculture (19.4%), social (4.9%), governance (4.3%), finance (2.2%) and water and sanitation (2.1%). Total portfolio volume has quadrupled over five years, the disbursement level is 44% and the portfolio has an average age of 3.9 years. Portfolio performance is deemed satisfactory overall, with a rating of 3 on a scale of 1 to 4, but implementation challenges have included long execution times, partly related to the quality of project feasibility studies and extended response time. The discussions also focused on the share of non-performing projects, which now stands at 41% after falling below 30% at the end of 2021. The reasons for non-performing projects were noted. They include launch difficulties for new projects, implementation of timeframes beyond five years and low disbursement rates.

“The Bank is ready to support Côte d’Ivoire in implementation of its National Development Plan and to provide necessary resources in the priority sectors identified by the government. The discussions also focused on support for human capital and capacity building. We are ready to examine all this in discussions specifically focused on the Country Strategy Document for the period 2023-2027,” Ribeiro concluded.

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

Business

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

Published

on

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.

 

Continue Reading

Business

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

Published

on

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.

Continue Reading

Business

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

Published

on

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.

Continue Reading

Trending