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Aberdeen Capabilities Underpin Altera’s Offshore Success in Ivory Coast

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African Energy Chamber

Altera Infrastructure says its UK base is key to delivering fast-track offshore projects in Ivory Coast, including the 24-month redevelopment of the Petrojarl Kong FPSO and major advances in local workforce development

ABERDEEN, Scotland, November 20, 2025/APO Group/ –Aberdeen’s role as a strategic base for companies operating beyond the North Sea was highlighted yesterday as Altera Infrastructure detailed how its UK capabilities are supporting major offshore developments in Africa.

Speaking at the Wider African Energy Summit – hosted in partnership with the African Energy Chamber – this week, Stig Bøtker, Director of Business Development at Altera Infrastructure, said the company increasingly relies on Aberdeen as a center of expertise that directly underpins its work on fast-growing African projects. “Aberdeen is a strategic base for Altera’s operations,” he said, noting that the city’s technical depth and offshore heritage have been instrumental in driving recent successes.

It’s about strengthening local suppliers, promoting transparency, getting local suppliers to understand how we operate and our core values

Bøtker pointed to the FPSO Petrojarl Kong, currently operating at the Baleine Field offshore Ivory Coast, as a leading example of how these competencies are being leveraged abroad. The project was completed on a fast-track schedule, with redevelopment beginning in late 2022 and first oil achieved in December 2024 – an overall timeline of just 24 months. The FPSO is producing 40,000 barrels of oil per day along with 44 million standard cubic feet per day of gas, which is supplied to an onshore power plant to deliver affordable and stable energy to the region.

Altera also secured $464 million in post-delivery financing for the Petrojarl Kong FPSO through a U.S. private placement, marking one of the first transactions of this kind for a West African offshore project. The company hopes this success will pave the way for continued activity in Ivory Coast, with Bøtker saying, “We hope to get more projects in Ivory Coast.”

Local content has been a core focus for the company, which has achieved 85% Ivorian employment onshore and 46% offshore. This has been driven by training programs in the shipyard, partnerships with educational institutions and hands-on development on existing FPSOs. “It’s about strengthening local suppliers, promoting transparency, getting local suppliers to understand how we operate and our core values,” Bøtker said, adding that building Ivorian-led capabilities remains a priority. “It’s important for us to continue developing people.”

Bøtker also noted that Altera is transferring emissions-reduction technologies to the region, several of which are already deployed on the Petrojarl Kong. He said the company aims to supply as much as possible locally, linking technical delivery with long-term capacity building.

Distributed by APO Group on behalf of African Energy Chamber.

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At the heart of Africa’s fintech evolution: Exness opens new Cape Town regional hub

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fintech

As fintech innovation reshapes Africa’s financial landscape, Exness strengthens its investment in the region, combining global expertise with local talent to serve a new generation of traders

CAPE TOWN, South Africa, December 11, 2025/APO Group/ –Exness (www.Exness.com), one of the world’s largest multi-asset brokers, has officially opened its new office in Cape Town, marking a major milestone in its long-term commitment to traders and partners in Sub-Saharan Africa (SSA).

As fintech innovation continues to accelerate across the region, South Africa has emerged as a natural hub for financial technology and digital inclusion. With one of the most advanced financial systems in Africa and a thriving ecosystem of start-ups and talent, Cape Town offers a unique blend of innovation and opportunity, making it the ideal regional hub for Exness.

The new state-of-the-art office serves as the center of Exness’ operations in South Africa and across the SSA region. It will house local professionals providing local expertise and insights, ensuring that clients across the region benefit from local insight and global-standard service.

This office is more than a space; it’s a reflection of our long-term commitment to traders in the region

Petr Valov, Exness co-founder and CEO, expressed, “The opening of our Cape Town office marks a new chapter for Exness, one that involves innovation and regional growth. We see immense potential in SSA and our investment here reflects our confidence in the region’s growth and in the incredible talent driving it.”

The office’s inauguration brought together Exness executives, local partners, and media representatives to celebrate this significant milestone. The event featured a ribbon-cutting ceremony, speeches from the company’s senior management, and a reception with the regional team, underscoring Exness’ deepening roots in the region.

The celebration continued with the Creators (EX)perience held at Killarney International Raceway’s Joubert Pits,  where Exness hosted an adrenaline-charged event that embodied the brand’s values of precision and prestige. The day featured a supercar showcase and F1-style pit stop challenges, bringing the energy of motorsport to life. Guests also participated in a high-intensity racing simulator competition, where their reflexes were put to the test in a virtual tournament.

Paul Margarites, Exness Regional Commercial Director, commented, “By building a strong local presence, we are bringing our global expertise closer to our traders. This office is more than a space; it’s a reflection of our long-term commitment to traders in the region.”

By combining cutting-edge trading infrastructure with local expertise, Exness is empowering traders with access, confidence, and better-than-market conditions. Exness’ growing Sub-Saharan Africa operations are supported by its Financial Sector Conduct Authority (FSCA) license in South Africa and its Capital Markets Authority (CMA) license in Kenya, reinforcing the company’s commitment to responsible, transparent, and regulated operations across the continent.

Distributed by APO Group on behalf of Exness.

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Africa Investment Forum: Major Boost for African Private Sector as Caisse de Dépôt et de Gestion (CDG) Invest Joins Growth and Resilience Platform for Africa (GRAf) Platform

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Investment

Agreement signed by CDP, AfDB and CDG Invest aims to foster joint investments, promote international cooperation, and channel capital toward key sectors of the African economy under the Mattei Plan

RABAT, Morocco, December 3, 2025/APO Group/ –Cassa Depositi e Prestiti (CDP), the African Development Bank (www.AfDB.org) , and CDG Invest, part of the Caisse de Dépôt et de Gestion (CDG) Group, have signed a landmark agreement formalising CDG Invest’s entry into the Growth and Resilience Platform for Africa (GRAf). The agreement was announced in Rabat during the 2025 Market Days, the three-day centerpiece event of the Africa Investment Forum.

GRAf is a co-investment platform promoted by CDP and the African Development Bank Group as part of the implementation of Italy’s Mattei Plan for Africa. CDP is Italy’s flagship development finance institution. Under the Mattei Plan for Africa, Italy aims to foster economic and strategic partnerships with African nations and institutions. The African Development Bank Group is Italy’s main strategic financial partner for implementation of the plan.

GRAf seeks to create an ecosystem of investors committed to sharing opportunities and expertise in Africa’s private sector, generating tangible impacts on the real economy—from job creation to improving essential products and services. The platform supports the African private sector through indirect investments deployed via investment funds, with a goal of mobilising up to €750 million over five years. Target sectors include food security, SME development, and sustainable infrastructure.

Aligning with the objectives of the Mattei Plan, CDP leverages its resources and expertise to foster mutual growth, supporting international investment opportunities and the global reach of Italian enterprises. As a key champion of the Mattei Plan, a CDP delegation participated in Market Days 2025 to further these collaborations and showcase activities including promoting the crucial role of the private sector in advancing sustainable development across Africa and promoting financial instruments available to support private enterprise.

CDP also attended an event organised by the International Development Finance Club (IDFC) to launch the  Cooperation 4 Development Investment Forum—a platform designed to strengthen cooperation among development banks to promote co-financing and joint projects. IDFC brings together 27 institutions, including CDP, with the aim of consolidating global financial architecture and accelerating sustainable investments.

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

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G20 Summit: Norway reaffirms support to Africa’s development with NOK 3.1 billion pledge to the African Development Fund’s seventeenth replenishment

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African Development Fund

The seventeenth replenishment of the African Development Fund will be finalized at a pledging session in London from 15 to 16 December 2025

ABIDJAN, Ivory Coast, December 2, 2025/APO Group/ –Norway reaffirmed its long-standing commitment to Africa’s low-income countries with a NOK 3.1 billion pledge to the African Development Fund’s seventeenth replenishment (ADF-17). The announcement, made during the Global Citizen Now: Johannesburg event, held on 21 November, was later reiterated in a bilateral meeting between Norwegian Prime Minister Jonas Gahr Støre and African Development Bank Group President Dr Sidi Ould Tah (http://AfDB.org).

The pledge includes a core ADF-17 contribution of NOK 2,377 million, representing a 5.79 percent increase from ADF-16. Norway also confirmed continued support to the Fund’s Climate Action Window with a commitment of NOK 150 million. Earlier in 2025, Norway contributed NOK 50 million to the Climate Action Window (https://apo-opa.co/3Y1GAhz) becoming its fifth investor.

Dr Sidi Ould Tah welcomed the announcement, saying: “Norway has been a highly valued partner of the African Development Fund. My discussion with the Prime Minister underscored our shared focus on youth opportunity, sustainable growth, and strong partnerships. Norway’s support to ADF-17 will help the Fund expand its impact at a decisive moment for Africa’s most vulnerable economies.”

Norway’s support to ADF-17 will help the Fund expand its impact at a decisive moment for Africa’s most vulnerable economies

Norway has participated in every replenishment of the African Development Fund since joining in 1973 and continues to prioritize core support that enhances predictability and responsiveness. According to the Norwegian Government’s official statement, this contribution reflects Norway’s commitment to improving access to food, electricity, water and sanitation, health services, education, and jobs for people living in the world’s most vulnerable contexts.

In the Norwegian government’s official statement (https://apo-opa.co/4pDTZIr), Prime Minister Jonas Gahr Støre said: “All countries share a responsibility to work to build a more peaceful and more equitable world. This funding will go towards improving the lives of some of the world’s poorest people. It will be used, among other things, to provide people with access to food, electricity, water and sanitation, health services, education and jobs.”

Norway further noted that the contribution forms part of the follow-up to its 2024 strategy for engagement with African countries (https://apo-opa.co/48cmAPk). Norway recognizes the African Development Fund’s integral role in initiatives such as Mission 300 (https://apo-opa.co/3MfEtEf), which aims to expand electricity access to 300 million people in Africa by 2030.

The African Development Fund is the concessional window of the African Development Bank Group and a key source of financing for 37 low-income African countries. Since 1972, it has supported essential investments in energy, transport, agriculture, regional integration, and governance through grants, highly concessional loans, and guarantees.

The seventeenth replenishment of the African Development Fund will be finalized at a pledging session in London from 15 to 16 December 2025, when development partners will confirm their contributions.

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

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