Connect with us
Anglostratits

Business

The African Energy Sector Condemns The Sentry’s Attack on South Sudan and African Entrepreneurs

Published

3 years ago

on

African Energy Chamber

The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment, an obsession to taint an African Energy Company, Trinity Energy and the South Sudan oil industry

JOHANNESBURG, South Africa, March 16, 2023/APO Group/ — 

The African Energy Chamber (www.EnergyChamber.org) rejects the accusations made by The Sentry as misleading, disrespectful, and unfair to South Sudan and Trinity Energy.

The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment, an obsession to taint an African Energy Company, Trinity Energy and the South Sudan oil industry at any cost and by any means, and certainly without an understanding of the facts and how the oil industry works.

It is important that in this rush to judgment, truth and an understanding of the oil industry should be the number one priority rather than overlooking and manufacturing evidence to attack South Sudan and Trinity Energy.

Like many indigenous companies in Africa, Trinity Energy, is committed to the development of its home country South Sudan and have good understanding of the socio-economic landscape to be impactful. Countries with the greatest need will not prosper without domestic players who are willing to solve their unique challenges.

Trinity Energy is an example. They invested in South Sudan and took on the challenge facing a young nation, inconsistent supply of fuel, the black market and inflated cost of fuel. This investment was made at a time when the supply chain was broken, and there were no clear systems to ensure refined products could be imported to South Sudan due to insecurity and instability. No foreign investor could touch the market, but Trinity Energy, defied the odds to liberalize the oil market, providing energy security, helping to stabilize the economy and contributing to the promotion of peace.

It is commendable that Trinity Energy Limited agreed on a trade finance facility with Cairo-based African Export-Import Bank (Afreximbank) for a series of $30 million loans to purchase diesel and gasoline to sell to the South Sudan market. Today, Trinity Energy has created close to 500 direct jobs and 1500 indirect jobs. As good corporate citizens, they are also providing education, health and food relief to their communities.

The Sentry chose to go after an African company that has created jobs, driven economic growth and acted properly

Afreximbank is one of the largest and most influential Multilateral Development Banks operating in the African region. In 2022, Global Credit Rating (GCR) gave Afreximbank a credit rating of A, which is a reflection of its strong financial position and the confidence that investors have in its ability to deliver results. This rating is an important factor in attracting investment and ensuring that the institution has the resources it needs to carry out its mission. That institution is the pride of the African continent and questioning the integrity of their financial facility is insulting to the continent as a whole.

Prior to granting Trinity Energy a trade finance facility, Afreximbank conducted extensive and appropriate due diligences to ascertain the companies business practices and its ethics. Trinity Energy met every standard required to operate in an internationally competitive industry.

Taking into consideration Afreximbank’s strong compliance practices and adherence to the U.S Foreign Corrupt Practices Act and the U.K Anti-Bribery and Corruption Act, it is unthinkable that it would move ahead with financing deals if there was any implication of wrong doing in their business practice.

The US government fined Glencore 1.5 billion USD for corruption. “Glencore paid bribes to avoid government audits. Glencore bribed judges to make lawsuits disappear. At bottom, Glencore paid bribes to make money – hundreds of millions of dollars. And it did so with the approval, and even encouragement, of its top executives.” U.S. Attorney Damian Williams.

The Sentry did not go after Glencore. The Sentry chose to go after an African company that has created jobs, driven economic growth and acted properly. We know why. Trinity Energy is daring to belong in an industry where it is not supposed to be a leader.

Trinity Energy has successfully operated in an industry that was shaped only for international companies from western countries. South Sudan at this moment must not be deprived of the millions of jobs that its oil sector will bring to the country with the support of Trinity Energy and its executives. These attacks are meant to slow the company’s growth, investment into the country’s oil industry’s projects and investment into South Sudan.

Unfortunately, NGOs like The Sentry.org have always had the paternalistic way of approaching the continent, issuing sensational reports purportedly in support of democracy, transparency and combating corruption with no respect towards the Africans who are at the forefront of the continent’s long development.

We at the AEC urge the people of South Sudan and Africans to not be fooled and we need to move away from rhetoric to relevance, symbols to substance, populism and charisma to character that provides pragmatic common-sense solutions to many who expect more from South Sudan’s  oil and gas sector.

The oil industry is about risk. People who take risks need to be compensated. Trinity Energy is a strong company with great plans for South Sudan, and it has a very good track record in doing business in Africa. It is unfair for them to be demonized in this fashion when all the facts are not reviewed.

Distributed by APO Group on behalf of African Energy Chamber.

Related Topics:
Continue Reading
Advertisement

Events

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

Published

2 days ago

on

February 6, 2026

By

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.

Continue Reading

Business

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

Published

2 days ago

on

February 6, 2026

By

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.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

2 days ago

on

February 6, 2026

By

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).

Continue Reading

Trending