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#AEW2023 Underscores Evolving Role Independents Plays in Africa’s Exploration and Production (E&P) Space

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AEW2023

Independent oil and gas companies are taking on a more proactive role in Africa

CAPE TOWN, South Africa, October 19, 2023/APO Group/ — 

Across Africa’s proven and promising hydrocarbon basins, independent oil and gas companies are playing a central role in driving exploration, monetizing resources while getting large-scale projects off the ground. A panel discussion held during the African Energy Week (AEW) 2023 conference & exhibition explored these strategies while detailing the ongoing success of independents in Africa’s oil and gas market.

Independent oil and gas companies have been at the forefront of several impactful developments. In Namibia, companies to the likes of ReconAfrica are opening up the onshore Kavango Basin while in Zimbabwe, Invictus Energy is exploring the untapped Muzarabani Basin. These upstream campaigns are set to transform the regional landscape but are not without their challenges, of which the most notable is financing.

Scott Macmillan, Managing Director of Invictus Energy, explained how the company has managed to achieve the success it has in the market and how capital raising has been achieved. He stated that, “When Invictus first came into the market, we were looking at following the traditional route of a typical junior: to make an entry into a frontier jurisdiction. We have been very fortunate in terms of the acreage and opportunity we identified. It has been a combination of a few things, including timing.”

He added that, “You can be in the right place at the right time but the biggest thing for us is our risk versus reward profile. We are chasing an enormous prize and that is what has enabled us to capture the market and fund our activity.”

ReconAfrica, under efforts to raise further capital, is seeking a partner to help drive exploration. Robert Mwanachilenga, Country General Manager at the company, stated that, “In the next few weeks, we will organize a data room. We are looking for a partner in terms of equity to help us check balances. We are offering 45%, half of our 90% stake. That partner will help and bring strong contributions.”

Integrating innovation with technology and expertise, independents are leading the next wave of successful oil and gas projects. However, attracting these companies to the market comes with its own challenges. In the current energy transition climate, independents are being increasingly selective with their investments.

Integrating innovation with technology and expertise, independents are leading the next wave of successful oil and gas projects

Tim O’Hanlon, Senior Advisor at Panoro Energy, acknowledged that, “The industry has adapted and exploration is still going on,” however he believes that, “It will be a tough enough gig from here on out, because of the general uncertainty associated with the industry.”

As such, fiscal reform has become necessary for attracting independents to markets. O’Hanlon expanded on this topic, stating that, “You need to knock their socks off in terms of attractive fiscal terms.” 

Echoing these remarks, Ian Cloke, COO of Afentra, stated that, “The race for capital is on, and it’s a global race. Capital will go where it is easiest, so you need to make sure you’re the most attractive one.”

Macmillan detailed the choice that African governments will need to make going forward, specifically those with frontier oil and gas markets. He said, “Governments are facing the challenge of deciding whether to adjust fiscal terms, being able to utilize natural resources and beneficiate them for other industries, or leave them in the ground and rely on imports. Ultimately, the prize for government is developing fields rather than leaving them in the ground. So, making terms attractive and allowing fields to be developed in an appropriate timeframe is important.”

Rather than focus on frontier opportunities, both Panoro Energy and Afentra prioritize mature assets, with a business structure centered on maintaining production at producing fields. O’Hanlon explained that, “We don’t do frontier. We develop discoveries that were made years ago.” This creates significant opportunities for African countries, ensuring IOC divestment does not translate to rapid declines in output.

Similarly, Cloke explained that, “Afentra was set up for mature assets. We see a long journey from a transition perspective in Africa and we see these big assets producing for a number of years.”

The panel concluded that through appropriate fiscal reforms, African countries comprising both frontier and established markets will be able to attract independents, leveraging their expertise to unlock new opportunities for energy security.

#AEW2023 – organized by the African Energy Chamber – takes place this week in Cape Town under a mandate to make energy poverty history by 2030. Keep following www.AECWeek.com for more exciting information and updates about Africa’s premier energy event.

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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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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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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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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