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Afreximbank Joins African Energy Week (AEW) 2023 as Diamond Sponsor Amid Efforts to Bolster Sustainable Investment

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Afreximbank

The African Export-Import Bank’s diamond sponsorship speaks to the caliber of the event as the premier platform for Africa’s energy sector

JOHANNESBURG, South Africa, July 28, 2023/APO Group/ — 

Under efforts to stimulate the growth of the African economy, governments continent-wide are pursuing the rapid development of the energy sector, recognizing the critical role natural resources play in alleviating energy poverty, spurring industrialization while advancing job creation and economic opportunities. In this scenario, advancing intra-African trade has emerged as a strategic approach to economic growth, with institutions such as the African Export-Import Bank (Afreximbank) serving as key drivers.  

The Afreximbank has a long-history of driving sustainable investments, facilitating trade and commerce while supporting the development of Africa’s energy sector. With a mission to become the trade finance bank for Africa, the institution will return to the continent’s biggest energy event, African Energy Week (AEW) – taking place from October 16-20 this year – as a diamond sponsor, a testament to its commitment to investing in the sustainable development of the continent.

With lack of investment representing one of the biggest challenges to development in Africa, the Afreximbank stepped in to play a central role in financing projects and facilitating trade. As a pan-African financial services provider, the institution has not only provided the capital African countries need to develop projects but has made considerable efforts to advance local content and sustainable development practices.

The institution has demonstrated, time and time again, its unwavering commitment to Africa’s future, and will remain an instrumental part of Africa’s development for the long-term

The bank actively engages in and drives capacity-building initiatives to enhance trade and energy-related skills, and regularly invests in African companies and entrepreneurs. Between 2016 and 2020 alone, the institution invested more than $42 billion in support of African businesses. Other investments include $900 million mobilized for the expansion and development of special economic zones in Africa; a $1.5 billion financing facility to boost local content promotion in Botswana; and a grant given to the Grand Africa Initiative to train 200 young African entrepreneurs in business and trade. Additionally, during last year’s edition of AEW, the institution inked a memorandum of understanding with AEW-organizer the African Energy Chamber (AEC), kickstarting collaboration in capacity building and energy. These initiatives have proven instrumental to driving sustainable development across the continent on the back of local content.

On the investment side, Afreximbank represents a strong and reliable financial partner for African energy projects. The institution provides various financial services and products aimed at advancing energy developments across the entire value chain, and is active in every segment of Africa’s energy sector. Recently the bank mobilized $155 million for the development of oil infrastructure in Djibouti; $355 million for the completion of Angola’s 60,000 barrel-per-day Cabinda oil refinery; and $500 million for the expansion of South Sudan’s power sector. The bank also has plans to double its investments in Africa to over $60 billion within the next six years. This will largely be achieved through the African Energy Transition Bank, an institution established by Afreximbank alongside the African Petroleum Producers Organization to accelerate the development of African energy in the energy transition era.

Meanwhile, under the African Continental Free Trade Agreement (AfCFTA), the bank facilitates trade and supports intra-African commerce. The institution was also responsible for the launch of the Pan-African Payment and Settlement System, a service adopted by the African Union that underpins the implementation of the AfCFTA. As such, the bank actively supports the growth of Africa’s exports, helping countries expand their market reach and increase their competitiveness in the global markets, as well as imports, ensuring countries have access to essential goods and services.  

“The Afreximbank has positioned itself as one of the most reliable partners for Africa’s energy sector. The institution has demonstrated, time and time again, its unwavering commitment to Africa’s future, and will remain an instrumental part of Africa’s development for the long-term. From investing in impactful projects to spearheading sustainable initiatives to facilitating trade and business in and across the continent, Afreximbank plays a crucial role in making energy poverty history,” states NJ Ayuk, Executive Chairman of the AEC.  

Afreximbank’s diamond sponsorship speaks to the caliber of the event as the premier deal-signing platform for Africa’s energy sector. The sponsorship will help strengthen dialogue around investing in Africa while supporting deals and engagement between African and global stakeholders.  

AEW is the AEC’s annual energy event uniting African governments and policymakers with global investors and project developers. Under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ AEW 2023 represents the biggest gathering of energy stakeholders on the continent. For more information about sponsorship, attendance and partnership opportunities, visit www.AECWeek.com.

Distributed by APO Group on behalf of African Energy Chamber.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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