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Afreximbank to Host a Deal Room at African Energy Week 2023, Showcasing Africa’s Growing Mergers and Acquisitions Activity

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Afreximbank

At African Energy Week 2023, Afreximbank will host a deal room, providing a crucial space for key stakeholders to collaborate and advance discussions, negotiations, and partnerships that will shape Africa’s energy sector

JOHANNESBURG, South Africa, August 21, 2023/APO Group/ — 

As Africa’s mergers and acquisitions (M&A) continue to surge, pan-African supranational multilateral financial institution  the African Export-Import Bank (Afreximbank) will host a deal room at the upcoming African Energy Week (AEW) 2023, at the Westin Hotel. This event is set to serve as a pivotal platform for showcasing the region’s burgeoning M&A activity, which has been gaining substantial traction in recent years.

Recent insights from the African Energy Chamber’s (AEC) ‘State of African Energy Q2 2023 Outlook’ report unveil significant strides made in Africa’s M&A sector, with announced and completed transactions already surpassing the US$1.85 billion mark in the first half of 2023. These figures are indicative of a thriving economic landscape that defies conventional expectations.

Key contributors to this impressive transaction volume are the announced sale of Angolan assets by Galp to Somoil in February and the impending takeover of Aker Energy in Ghana by the Africa Finance Corporation (AFC). These transactions alone account for a substantial portion of the total transaction value, with individual figures of US$655 million and US$605 million, respectively. Additionally, Malaysian NOC Petronas exited Chad, finalizing the transfer of its stakes in oil fields and export pipelines. Eni’s planned sale of a portion of its Congo portfolio to UK-based Perenco, although yet to be closed, is anticipated to further impact Africa’s 2023 M&A transaction value.

Afreximbank’s commitment to fostering an environment conducive to strategic partnerships through the deal room underscores its pivotal role in shaping Africa’s energy future

In the first half of 2023, around 320 MMboe of recoverable resources were traded. Approximately 85% of these were crude oil, with roughly 65% of the traded volumes originating from offshore deepwater areas. Notably, 35% of the resources traded were in the producing phase, eliminating the need for additional CAPEX investments. Conversely, almost 50% of the traded volumes were pre-FEED, potentially requiring higher investments. However, the influence of various external factors driving these transactions necessitates a nuanced analysis of hydrocarbon trading, asset lifecycle, and location to avoid skewed metrics.

The analysis of transactions reveals a shift in trends, with Angola, Ghana, Chad and Morocco emerging as key transaction hubs. Notably, divestments from major companies have been scarce, contrary to expectations linked to the energy transition and cost-cutting strategies. This deviation, coupled with majors’ investments in exploration and development across Africa, signals positive prospects for the continent.

In the context of Africa’s evolving energy landscape, Afreximbank’s initiative to host a deal room during AEW 2023 emerges as a pivotal catalyst for the continent’s energy security and its alignment with the global energy transition. This endeavor holds paramount importance, as it provides a strategic forum for fostering partnerships, investments and collaboration essential for propelling Africa’s energy sector into a sustainable and secure future.

With energy security emerging as a critical concern for many African countries, the deal room serves as a conduit for facilitating crucial discussions that can lead to the diversification of energy sources, the integration of renewables and the optimization of hydrocarbon assets. By bringing together industry leaders, investors and policymakers, this platform has the potential to accelerate the deployment of innovative technologies, stimulate indigenous energy production and enhance regional cooperation, ultimately contributing to Africa’s energy self-reliance.

“As the world transitions towards cleaner energy sources, the deal room offers African countries an opportunity to leverage their vast renewable energy potential, attract international investments, and align their energy strategies with global sustainability goals,” states NJ Ayuk, executive chairman of the African Energy Chamber, adding “Afreximbank’s commitment to fostering an environment conducive to strategic partnerships through the deal room underscores its pivotal role in shaping Africa’s energy future, reinforcing its resilience, and ensuring its active participation in the ongoing global energy transition.”

AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit www.AECWeek.com   

Distributed by APO Group on behalf of African Energy Chamber.

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Joint statement welcoming the Republic of Togo’s announcement on Visa facilitation for African nationals

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Togo

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda

LOMÉ, Togo, May 21, 2026/APO Group/ –The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcome the announcement by the Government of the Republic of Togo, under the leadership of H.E. Faure Essozimna Gnassingbé, President of the Council of the Republic of Togo, regarding measures to facilitate visa-free entry for all nationals of African States holding valid passports, as announced by the Minister of Security on 18 May 2026.

The announcement was made in Lomé on the sidelines of Biashara Afrika 2026, the continent’s premier trade and business platform, which has brought together policymakers, private sector leaders, investors, and stakeholders from across Africa to advance dialogue on intra-African trade, investment, and regional integration.

Throughout the engagements, participants underscored the importance of facilitating the movement of African citizens, entrepreneurs, and investors as an important enabler of intra-African trade and economic cooperation. Against this backdrop, the announcement reflects the growing continental momentum towards strengthening connectivity and deepening African integration.

The AfCFTA Secretariat and Afreximbank, to which Togo is a State Party and a Member State, envision a continent where goods, services, capital, and people move more freely across borders in support of an integrated African market. Measures that facilitate mobility and connectivity continue to contribute towards advancing the broader mandate of both institutions; the attainment of the aspirations of Agenda 2063.

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda.

Distributed by APO Group on behalf of Afreximbank.

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Morocco: African Development Bank commits €200 Million to boost employability and develop future skills

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Morocco

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms

RABAT, Morocco, May 21, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved €200 million in financing for the implementation of the “Cap Compétences 2030” programme, aimed at improving employment opportunities for young people and women.

 

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms.

 

Cap Compétences 2030 is built around three pillars: skills development and strategic partnerships; inclusive training aligned with business needs; and digital transformation, supported by stronger institutional and operational capacity. The programme will also consolidate existing mechanisms while improving both their efficiency and reach.

 

Through the initiative, the African Development Bank seeks to expand access to diversified training opportunities and enhance the professional integration of beneficiaries into the labour market.

Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women

 

Achraf Tarsim, Country Manager of the African Development Bank Group in Morocco, said Cap Compétences 2030 aligns with the priorities of the country’s National Employment Roadmap 2025–2030 and the Bank’s strategic vision under its Four Cardinal Points (https://apo-opa.co/3PDHMHn). “Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women,” he said.

 

The Bank’s intervention is being implemented in close coordination with technical and financial partners to strengthen coherence and complementarity in support of public policy reforms.

 

This programme reflects the Bank’s long-term engagement in Morocco in the areas of human development, employment, and social inclusion. It also builds on a broader portfolio of results-based operations that contribute to structural reforms of the labour market and vocational training system.

 

Since its establishment, the African Development Bank Group has mobilised more than €15 billion across strategic sectors in Morocco, including education, health, employment, infrastructure, energy, and governance.

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

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TotalEnergies Expands Angola Offshore Strategy as Martin Deffontaines Returns to Angola Oil & Gas (AOG) 2026

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TotalEnergies

TotalEnergies is spearheading a diverse investment approach in Angola, targeting frontier opportunities while scaling brownfield production

Martin Deffontaines, Country Manager for Angola at energy major TotalEnergies has been confirmed as a speaker at the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9­­–10 with a pre-conference day on September 8. His participation comes at a pivotal time for the company as it expands its offshore strategy and is expected to provide insight into how one of the industry’s leading operators is positioning itself for Angola’s next phase of offshore growth.

TotalEnergies is driving a multi-faceted exploration and production strategy in Angola, balancing brownfield optimization with frontier exploration and large-scale deepwater developments. As one of the country’s biggest oil producers, the company’s recent investments signal a long-term commitment to the market as well as its broader ambitions to support Angola’s goals of sustaining production above one million barrels per day (bpd).

At the core of this strategy is unlocking additional value from producing assets. Just this month, the company signed a Principles Agreement with the National Oil, Gas & Biofuels Agency (ANPG) to extend its license for Block 32 to 2043. The agreement establishes the general terms for the continuous development of the block, while outlining the possible application of the Incremental Production Decree to bolster production. Block 32 is one of the country’s biggest producing assets, covering six fields and featuring the Kaombo project.

Beyond operational assets, TotalEnergies is pursuing new frontiers in Angola. The company signed an agreement in March 2026 with the ANPG and ExxonMobil for the allocation of four blocks in the Benguela and Namibe Basins – namely 40, 41, 42 and 58. The agreement lays the foundation for the signing of the respective contracts for the blocks. This follows another agreement signed in 2025 between TotalEnergies, ExxonMobil and the ANPG for the study and evaluation of the Free Areas of Blocks 17/06 and 32/21 – two of the country’s longest-producing assets. The agreement aims to identify new leads across the blocks, supporting future production growth.

The company’s ongoing project portfolio further highlights the scale of its ambitions in Angola. Central to this is the Kaminho deepwater project – the first major deepwater development in the Kwanza Basin. Representing a $6 billion investment, the project is expected to produce approximately 70,000 bpd through an FPSO designed with lower-emission technologies. FID was reached in 2024, with production on track for 2028. Kaminho builds on TotalEnergies recent project momentum, which saw two offshore projects start operations in 2025. The Begonia and CLOV Phase 3 developments added 60,000 bpd to the company’s Angolan portfolio, cementing its position as a major operator.

Deffontaines’ participation at AOG 2026 comes as these themes move to the forefront of Angola’s oil and gas agenda. As one of the country’s largest international investors, TotalEnergies continues to shape discussions around production sustainability, exploration strategy and offshore project economics. His presence at the event underscores both the scale of the opportunity and the growing international confidence in Angola’s deepwater market.

 

Distributed by APO Group on behalf of Energy Capital & Power.

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