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A Critical Baseload Power Source: African Energy Week (AEW) 2023 to Explore the Role of Coal in Africa

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renewable energy

As the world transitions to renewable energy sources, an immediate shift away from coal will cause detrimental impacts on Africa’s economies

JOHANNESBURG, South Africa, July 4, 2023/APO Group/ — 

While developed nations are calling for an immediate (and unrealistic) shift to a renewable energy future, African governments and stakeholders continue to work towards making energy poverty history across the continent. With over 600 million people living without access to electricity and over 900 million without access to clean cooking solutions, abandoning coal and its associated power generation infrastructure will cause detrimental impacts on African society while reversing any meaningful progress made to develop African economies.

Coal has long-played an important role in the energy mix of various African countries. Serving as an important baseload power source, sizeable domestic deposits and growing regional demand have led to countries such as South Africa, Zimbabwe, Botswana and more turning to coal to fuel economic growth and resilience. Coal itself represented 28% of Africa’s total electricity generated in 2021. Despite this, coal remains a highly controversial topic, with global stakeholders criminalizing the resources despite the crucial role it plays in powering economies.

Even in the face of a global energy crisis, developed countries in Europe – despite pressuring African states to abandon the resource ­– also turned to coal to power their economies, a testament to its significance, even in the energy transition climate. Germany, for example –representing the eight biggest coal producer and fourth biggest consumer globally ­– increased its coal imports by 12% last year in the face of the Russian-Ukraine conflict. In the same year, the UK approved the first new coal mine in nearly 30 years. However, these same countries state that coal has no future in Africa.

During AEW 2023, we will host a discussion on the role of coal in Africa and look forward to the various insights which will be provided

Africa does not have the privilege to simply abandon coal. The resource serves as one of the biggest baseload power sources for a number of countries continent-wide, and abandoning this source would result in no available energy to power healthcare, education, business, transport, and every other sector of the economy. South Africa, for example, relies on coal for 80% of its energy needs. Even though this reliance is expected to decrease as other power alternatives come online, by 2030, the resource will still account for 65% of the energy mix. Facing infrastructure breakdowns due to lack of investment in coal-power stations, South Africa now experiences blackouts of more than ten hours a day, a tragic situation given the 53 billion tons of coal reserves available in the country. Notwithstanding power supply, the coal industry employed over 93,000 people and contributed R480 billion to South Africa’s GDP in 2021. Abandoning coal would not only remove a viable power supply but worsen unemployment rates and stifle economic progress.

In neighboring countries this scenario is remarkably similar. Botswana relies on coal for 80% of its power needs while coal makes up 29% of Zimbabwe’s energy mix, a figure expected to increase as hydropower becomes increasingly unreliable. What kind of future, therefore, can we imagine if we abandon this resource?

Organization’s such as the World Coal Association recognize the role the resource plays in electrifying and industrializing economies. Committed to shaping a sustainable future for coal, the organization is spearheading various initiatives that aim to advance innovations in technology and sustainable coal practices. For Africa, these initiatives will be key for helping countries utilize coal in a sustainable manner.

During the continent’s premier event for the energy sector, African Energy Week (AEW) – taking place from October 16-20 this year in Cape Town – a panel discussion will explore the critical role coal continues to play in powering Africa’s economies. The session will be led by experts from across the regional and global energy sectors and will provide insight into the benefits of the resources, the measures being undertaken to promote sustainability and what the future for coal-fired power generations looks like in Africa.

“What the world is failing to understand, is that coal represents a vital part of Africa’s energy mix. If we were to abandon coal, countries such as South Africa, Zimbabwe, Zambia, Botswana and many others would be left in the dark, with no energy to power industry, provide electricity and support the economy. Access to energy is a human right: eliminating coal from Africa’s energy mix is infringing on that very right. The Chamber will continue to advocate for the role of coal in Africa. Yes, we understand that in order to protect the climate we need to transition to cleaner energy sources. But this transition must be strategic, gradual and take into consideration the needs of the economy. During AEW 2023, we will host a discussion on the role of coal in Africa and look forward to the various insights which will be provided,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC).

AEW is the AEC’s annual energy event uniting African policymakers with global investors to discuss the future of Africa’s energy sector. This year’s edition takes place under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ and features a strong lineup of speakers from across the African and global energy landscape. For more information about attendance, sponsorship and partnership opportunities, visit www.AECWeek.com

Distributed by APO Group on behalf of African Energy Chamber.

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Nigeria’s Upstream Reform Program Captures 40% of Africa’s Final Investment Decision (FID) Activity After a Decade on the Margins

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A government three-year review documents how executive action under President Tinubu reversed a decade of upstream decline

JOHANNESBURG, South Africa, May 8, 2026/APO Group/ –Nigeria has gone from capturing 4% of Africa’s upstream final investment decisions (FIDs) to commanding 40% in two years, according to Nigeria’s Energy Sector Reforms 2023-2026: A Three-Year Review, published by the Office of the Special Adviser to the President on Energy and spearheaded by Special Adviser Olu Verheijen. The $50 billion project pipeline now in development beyond 2026 points to sustained capital commitment at a scale not seen in the Nigerian upstream for at least a decade.

 

Between 2014 and 2023, Nigeria was among the continent’s weakest performers for upstream FIDs despite holding 37.5 billion barrels of proven oil reserves, the second-largest endowment in Africa. Algeria captured 44% of African upstream FIDs during that period, Angola held 26%, while Nigeria trailed Mozambique, Ghana, Senegal and Namibia. In the third quarter of 2022, crude production briefly dropped below one million barrels per day, as years of underinvestment, pipeline vandalism and regulatory ambiguity compounded each other. However, reforms instituted by Nigeria’s President Bola Tinubu have dramatically turned this trend around. Through deliberate and coordinated steps, the government has reset the trajectory.

Addressing Fiscal Terms, Regulatory Scope and Contracting Speed

President Bola Tinubu’s administration moved simultaneously on fiscal terms and regulatory architecture. Policy directives in 2023 clarified the boundary of jurisdiction between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), resolving an ambiguity that had complicated project sanctioning. Presidential Directive 40 introduced targeted tax incentives, and a separate Notice of Tax Incentives for Deep Offshore Production in 2024 was designed to draw international oil companies (IOCs) back into capital-intensive, long-cycle deepwater projects. The VAT Modification Order 2024 and Upstream Cost Efficiency Order 2025 addressed the cost structures that had rendered marginal projects uneconomic. NNPCL contracting timelines were compressed from 36 months to a maximum of six months.

Four Divestments Transferred Onshore Control to Indigenous Operators

In parallel, the administration deployed targeted security directives and accelerated ministerial consents for four IOC asset transfers. Renaissance acquired Shell’s onshore portfolio. Seplat Energy completed its acquisition of ExxonMobil’s Nigerian upstream interests. Oando took over from Agip, and Chappal acquired Equinor’s local assets. The four transactions totaled approximately $4 billion. The transfer of onshore and shallow-water blocks to indigenous operators contributed directly to production recovery. Output rose by approximately 400,000 barrels per day between 2023 and 2025 to reach 1.6 million barrels per day, the highest onshore production level in 20 years.

When a government rebuilds fiscal competitiveness and regulatory predictability at the same time, capital responds

Signed Projects Total $10 Billion, With a $50 Billion Pipeline Beyond

The reforms produced a concrete FID response from Shell and TotalEnergies. Shell Nigeria Exploration and Production Company (SNEPCo) sanctioned the $5 billion Bonga North deepwater development in December 2024 and committed a further $2 billion to the HI Non-Associated Gas (NAG) project. TotalEnergies and NNPCL took a joint FID on the $550 million Ubeta gas field development in June 2024.

Together those three commitments account for more than $10 billion in signed investment after a decade of near-zero sanctioning activity. The pipeline beyond 2026 spans a further $50 billion across 11 projects including Bonga South West, Owowo, Usan and Erha. Nigeria approved 28 field development plans valued at $18.2 billion in 2025 alone, targeting an estimated 1.4 billion barrels of reserves.

“When a government rebuilds fiscal competitiveness and regulatory predictability at the same time, capital responds,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Nigeria has done both, and the FID numbers are concrete proof.”

The Counterfactual Illustrates How Much Was at Stake

The presentation includes a no-reform projection that puts the gains in context. Without intervention, total crude and condensate production was on track to fall from 1.371 million barrels of oil equivalent per day in 2022 to 579,000 by 2030. Under the reform trajectory, output reached 1.77 million barrels of oil equivalent per day in 2026, with a stated government target of 3 million barrels per day. Export gas utilization rose 39% over the same period, while domestic utilization grew by 7%.

The durability of these gains will be tested by two factors: whether the institutional architecture put in place under the Tinubu administration holds over the long term, and whether the deepwater commitments signed in 2024 and 2025 advance to execution on schedule. The project pipeline is large enough that partial delivery would still represent a generational shift in Nigeria’s upstream output profile.

 

Distributed by APO Group on behalf of African Energy Chamber.

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Angola Strengthens Global Investment Drive Across Oil, Gas and Mineral Resources

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With sweeping reforms across the extractive sector, Angola is entering a new phase defined by transparency, regulatory modernisation, value addition, and international partnership

LONDON, United Kingdom, May 8, 2026/APO Group/ –At a defining moment in Angola’s economic transformation, the Critical Minerals Africa Group (CMAG) (https://CMAGAfrica.com), together with the Government of Angola and the Ministry of Mineral Resources, Petroleum and Gas of the Republic of Angola (MIREMPET), will convene global investors, policymakers, and industry leaders in London for the Angola Oil, Gas & Mining Investment Conference on 14 May 2026.

 

More than a conference, this gathering represents a strategic international engagement at a time when Angola is actively reshaping its economic future and positioning itself as one of Africa’s most compelling destinations for long-term investment in natural resources, infrastructure, and industrial development.

With sweeping reforms across the extractive sector, Angola is entering a new phase defined by transparency, regulatory modernisation, value addition, and international partnership. The country’s leadership is sending a clear message to global markets: Angola is open for investment and ready to build transformational partnerships that support sustainable growth and economic diversification.

This is not simply about resource development, it is about building long-term industrial growth, strengthening energy and mineral supply chains, and shaping Angola’s future

The event will be headlined by H.E. Diamantino Azevedo, Minister for Mineral Resources, Oil and Gas of Angola, whose leadership since 2017 has been central to advancing Angola’s mineral and hydrocarbons agenda. Under his stewardship, Angola has accelerated institutional reform, strengthened governance frameworks, promoted private sector participation, and prioritised sustainable resource development.

As global demand intensifies for critical minerals, energy security, and resilient supply chains, Angola is uniquely positioned to become a strategic partner to international investors and industrial economies. The country’s vast untapped mineral wealth, significant oil and gas reserves, expanding infrastructure ambitions, and commitment to economic diversification present a rare investment window for global stakeholders.

Speaking ahead of the event, Veronica Bolton Smith, CEO of the Critical Minerals Africa Group said:

“Angola stands at a pivotal point in its national development. The reforms taking place across the country’s extractive sectors are creating unprecedented opportunities for responsible international investment and strategic partnership. This is not simply about resource development, it is about building long-term industrial growth, strengthening energy and mineral supply chains, and shaping Angola’s future as a globally competitive investment destination. We believe this moment represents one of the most important opportunities for international partners to engage with Angola’s leadership and participate in the country’s next chapter of economic transformation.”

The event is expected to attract a distinguished international audience, including sovereign representatives, institutional investors, mining and energy executives, infrastructure developers, development finance institutions, and strategic partners seeking direct engagement with Angola’s leadership.

Distributed by APO Group on behalf of Critical Minerals Africa Group (CMAG).

 

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The Islamic Development Bank (IsDB) Group Successfully Concludes Private Sector Roadshow in Baku

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Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan

BAKU, Azerbaijan, May 7, 2026/APO Group/ –The Islamic Development Bank Group (IsDB) affiliates (www.IsDB.org) – namely the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC) – in cooperation with the Islamic Development Bank Group Business Forum (THIQAH), organized the “IsDB Group Private Sector Roadshow” in Baku, Azerbaijan, in close collaboration with the Ministry of Economy of the Republic of Azerbaijan and the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO).

 

The high-profile event which took place on Thursday, 7th May 2026, at Azerbaijan’s Ministry of Economy, came as part of ongoing preparations for the upcoming IsDB Group Annual Meetings and Private Sector Forum (PSF 2026), scheduled to take place from 16 to 19 June 2026, under the high patronage of His Excellency President Ilham Aliyev, the President of the Republic of Azerbaijan.

 

Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan. It highlighted the Group’s ongoing support for private sector development and its efforts to stimulate promising investment and trade opportunities in the Azerbaijani market.

 

The event also served as a unique opportunity inviting the audience to participate actively in IsDB Group Annual Meetings and the Private Sector Forum (PSF 2026). The program included panel discussions and specialized workshops on ways to enhance economic partnerships and the role of IsDB Group’s institutions in supporting the needs of member countries. The spectra of services, solutions and financial tools were also presented, including lines and modes of Islamic financing, trade finance and trade development solutions, corporate private sector financing, as well as risk mitigation solutions plus investment insurance and export credit insurance services.

 

Keynote speakers, in their speeches, underlined strong commitment to deepening engagement with the private sector and fostering meaningful partnerships that drive sustainable economic growth in light of the upcoming IsDB Group Annual Meetings in Baku, all to showcase integrated solutions especially in Islamic finance, trade, investment, and risk mitigation while working closely and collectively with private sector partners to unlock new opportunities, support innovation, and empower businesses contributing to inclusive and resilient development across IsDB Group member countries.

Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).

 

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