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Equatorial Guinea, Cameroon Bilateral Agreement Signals New Era of Cross-Border Cooperation in Africa

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3 years ago

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Equatorial Guinea

The respective Presidencies of Equatorial Guinea and Cameroon have signed a bilateral cooperation agreement, unlocking a new phase of energy security and economic expansion on the back of gas monetization and cross-border collaboration

JOHANNESBURG, South Africa, March 20, 2023/APO Group/ — 

H.E. Teodoro Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea and H.E Paul Biya, President of the Republic of Cameroon have signed a bilateral treaty that would see the two West African countries cooperate on cross-border oil and gas development and monetization. The agreement was signed during the heads of state summit of the Economic and Monetary Community of Central Africa (CEMAC) countries held in Cameroon last week and is set to bring with it new opportunities for oilfield development and regional energy security.

The African Energy Chamber (AEC), as the voice of the African energy sector, celebrates and supports the signing of the bilateral treaty between Equatorial Guinea and Cameroon. The Chamber is confident that the agreement will unlock a new era of cooperation, with the agreement serving as a blueprint for other African countries looking at strengthening knowledge sharing, skills and technology transfer, infrastructure development and local content, all on the back of cross-border oil and gas maximization. As such, the AEC urges the Governments of Equatorial Guinea and Cameroon to move fast, leveraging the treaty to fast-track field development, address fiscal challenges and bring new supplies on the regional market.

For its part, the agreement paves the way for the joint development and monetization of cross border hydrocarbon fields, and more specifically, the Chevron-operated Yoyo (Cameroon) and Yolanda (Equatorial Guinea) oil and gas fields, which are located along the maritime borders of the two countries. Following Chevron’s acquisition of Noble Energy in 2020, the energy major has been committed to developing the promising fields, seeking to acquire a gas sharing agreement for the Yoyo and Yolanda discoveries with the aim of fast-tracking resource development. The bilateral agreement is set to not only aid in the field’s development, with the two states now set to progress to the Unitization Agreement of the Yolo-Yolanda field and the various monetization options, but in the development and launching of various other fields.

We are confident that cooperation between Cameroon and Equatorial Guinea will unlock long-term economic benefits for the entire region

Notably, the development of Cameroon’s Etinde gas field – operated by New Age – and Equatorial Guinea’s Camen and Diega fields are also set to be incorporated in the treaty, thereby maximizing the implementation of the Gas Mega Hub – an Equatorial Guinea initiative which aims to optimize the development and monetization of stranded offshore gas reserves in regional basins –  and bringing long-term energy security and affordability benefits as well as gross domestic product growth for the two countries.

The two countries’ success in achieving this milestone of signing the bilateral treaty can be largely attributed to the efforts undertaken by an integrated team led by the National Hydrocarbons Corporation of Cameroon and Equatorial Guinea’s Ministry of Mines and Hydrocarbons. The agreement itself is set to kickstart the joint development of the countries’ vast energy resources, with oil and gas industry growth inevitable on the back of improved cooperation between Cameroon and Equatorial Guinea.

However, the treaty represents just the start, with several challenges including restrictive foreign exchange regulations implemented by the Bank of Central African States (BEAC) that continue to deter foreign investment in need of addressing. In this regard, the AEC urges further collaboration between the two countries towards improving the enabling environment for investment so that progress seen with the signing of the treaty is not only maintained but accelerated.

“The Chamber commends the move made by Equatorial Guinea and Cameroon to unite on oil and gas resource development and exploitation. We believe that cooperation among African countries is key for driving the development and monetization of hydrocarbon resources to address looming energy access and affordability issues across the continent. We are confident that cooperation between Cameroon and Equatorial Guinea will unlock long-term economic benefits for the entire region,” states NJ Ayuk, the Executive Chairman of the AEC, adding that, “What we need to see now is consolidated efforts by all West African countries to address regulations that continue to deter investment, thereby putting in place enabling environments that trigger further growth across the energy sector. Policies such as those implemented by BEAC continue to limit growth.” Concluded Ayuk

The AEC urges the Cameroonian and Equatorial Guinean governments to expand their cooperation even further to address business challenges caused by the BEAC regulations. Unless address, these regulations will continue to restrict the flow of foreign investments, the development of hydrocarbons as well as employment creation and market growth across the CEMAC region. Leveraging already existing partnerships such as the recently signed treaty, Equatorial Guinea and Cameroon have the chance to set a precedent across West Africa, with energy cooperation representing the first step towards long-term and sustainable economic growth. 

Distributed by APO Group on behalf of African Energy Chamber.

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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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Business

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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