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Exploring Pragmatic Local Content and Asset Transfer in Africa at African Energy Week (AEW) 2022

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3 years ago

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African Energy Week

At a dedicated panel discussion, African Energy Week 2022 examined whether or not African companies and technical staff are ready to harness the opportunities present across African hydrocarbon assets

JOHANNESBURG, South Africa, October 20, 2022/APO Group/ — 

With national oil companies (NOCs) scaling up asset acquisition as international oil companies (IOCs) divest from African oil and gas, an African Energy Week (AEW) 2022 (https://www.AECWeek.com/) panel discussion about ‘A Return to African Hands: Pragmatic local content, Africa content and asset transfer’ explored the readiness of NOCs to develop such assets.

Moderated by Kwame Baah-Nuakoh, General Manager, Ghana National Petroleum Corporation, speakers included Yemi Adetunji, Group Executive Director Downstream, the Nigerian National Petroleum Corporation Ltd; Robin Sutherland, President and CEO, Baobab Energy Africa; Ejike Egbuagu, CEO/Founder, Moneda Invest Africa; Tony Paul, African Development Bank Advisor; Dr. James Edet, President, Nigerian Association of Petroleum Explorationist (NAPE); Jacinto Owono, Director – Local Content, Ministry of Mines and Hydrocarbons, Equatorial Guinea; and Eng. Fuad Mosa, General supervisor of Local Content, Risks and Crises Management, Ministry of Energy of Saudi Arabia.

As long-term concessions come to term in some of Africa’s most established hydrocarbon producers, and as majors begin to relinquish these assets, speakers explored whether or not African companies and technical staff are ready to harness the opportunities still present in these assets, and the role local content plays in up-skilling the workforce.

Kicking off discussions, Sutherland stated that, “We can see the majors starting to talk about their energy transition, with them now focusing on carbon emissions and leaving the long-hanging fruit behind where local African companies can make a significant living from. This is a natural handover and we are helping, starting as operator in charge of getting the finance and then gradually help you pick up the remaining skills you have been lacking to take over operatorship with us as a strong partner.”

To secure energy in a sustainable way, you need to think about local content

Expanding on this natural evolution, Dr. Edet stated that, “A lot of expertise is leaving the industry. So, who takes over? NAPE is involved in all kinds of training and business discussions, bringing a lot of young people up. We need to change the way we educate our students and young people. Training and education are key.”

According to Eng. Mosa, “The subject of local content and securing energy is key. To secure energy in a sustainable way, you need to think about local content. You need to first understand your value position. Our leaders thought long-term about how to leverage our value position. Based on this, we have set up the right incentives in order to create demand. Local content starts by creating demand.”

Focusing on Nigeria, Adetunji emphasized that “the country’s downstream sector is 100% Nigerian. We have had the benefit of a long period of development. Development has moved through the IOCs, and we have acquired a lot of experience in this time. Even when the majors were in the country, Nigeria had 60% of these operations so it was easy for us to take over that. Now, with IOCs leaving shallow waters to focus on deep offshore basins, Nigerians are ready to take this over.”

Meanwhile, Paul stated that he has “admired what Nigeria has done,” adding that, “The level of projects allows you to invest in capacity. Firstly, you have the capacity to oversee it: the regulator, and then you have the projects and the capacity building. Ghana has done something similar and moving forward, putting in place a regulator but they have a small population with lots of projects. The level of implementation is based significantly on the market base. Regulatory frameworks give clarity and consistency but you need someone to oversee it and implement it.”

Moving on to Equatorial Guinea, Owono stated “When we started exploring, we did not want to invent the wheel. We sat down and planned the journey with people who have done it before. This way, we were able to put our local content framework in place. Now, we encourage partnerships and create joint ventures with companies who have expertise. We feel that sooner or later, we will take our destiny in our own hands.”

With international oil companies moving ahead with divestment strategies, prioritizing renewable projects above oil and gas, African NOCs and independents are stepping up to the challenge, with speakers providing insight financing as well as the organization driving local content in Africa. 

According to Egbuagu, “We are faced with the possibility of being locked out of financing, but we still need to develop. So, we need to think about how to channel African funds into African projects. For the purpose of scale and fulfilling the interests we have jointly, we need to recognize Africa as one block and be able to pull together demand and then look at funding as a block. We have coined the term ‘African content’ and we want to see African countries adopting this. We want to see Nigerian companies operating in Namibia, creating skills and transfer programs. We created Moneda to be a bridge between banking and execution.” 

Distributed by APO Group on behalf of African Energy Week (AEW).

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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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