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African Energy Chamber (AEC): Senegalese President Macky Sall has Set a Bold Energy

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Macky Sall

Resilient in his approach to a pro-energy growth agenda, President Macky Sall has accomplished a lot and empowered the energy industry

JOHANNESBURG, South Africa, March 20, 2024/APO Group/ — 

Senegalese President Macky Sall’s 12-year tenure is set to come to an end on April 2 this year. As he leaves his term in office, he also leaves behind a legacy of economic growth and development, and other African states stand to learn from his pro-energy growth approach. As the voice of the African energy sector, the African Energy Chamber (AEC) commends the work undertaken by President Sall to strengthen the Senegalese economy. The President remains a close friend of the AEC and of Africa.

President Sall’s tenure was defined by a commitment to making energy poverty history through the development of resources and investment into every segment of the country’s economy. Unashamed in his approach to supporting industrialization and energy access, President Sall laid the foundation for all forms of energy to be developed. Under his leadership, the country has seen success after success. He has defended the African oil and gas sector, and has put Senegal on the path towards prosperity.  

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Senegal is on track for first gas production from the first phase of the Greater Tortue Ahmeyim (GTA) development by Q3 this year. The project is currently 92% complete and the FPSO vessel is expected to be on site soon. The first phase will produce 2.3 million tons of gas per year and is being developed by global energy majors bp and Kosmos Energy in collaboration with Senegalese national oil company Petrosen and its Mauritanian counterpart and Societe Mauritanienne des Hydrocarbures.

Meanwhile, the country’s inaugural oil development – the Sangomar oilfield project – is 95% complete and is expected to start production between May and July 2024. The FPSO vessel arrived at the project site in February 2024. The project’s production capacity is 100,000 barrels per day and it is being developed by oil and gas company Woodside Energy in collaboration with Petrosen.

The success of these projects has already laid the foundation for a wave of new developments offshore Senegal. Serving as one of the world’s largest gas discoveries in recent years, Senegal’s Yakaar-Teranga development holds an estimated 25 trillion cubic feet of natural gas reserves. Kosmos Energy is set to develop an LNG facility for the project, with a capacity to produce 550 million cubic feet of gas per day. Currently, the concept for the LNG facility is being finalized. Kosmos Energy assumed operatorship of the Yakaar-Teranga project in 2023, thereby strengthening its presence in the country’s offshore gas sector.

Senegal was also recently granted observer membership status within the Gas Exporting Countries Forum, marking its entry into the esteemed organization. Signaling the future role the country will play in global gas markets, the milestone showcases a commitment by Senegal to industry collaboration.

“President Sall’s commitment to development is clear through the achievements seen across the country’s oil and gas industry. Spearheading collaboration with regional government and international partners, President Sall has made Senegal’s business environment both attractive and competitive, and now, the country is well positioned to drive long-term and sustainable growth, driven by oil and gas,” stated NJ Ayuk, Executive Chairman of the AEC.

To maintain development momentum, the country is inviting global and regional E&P companies to invest in exploration, with seismic data and studies available to support offshore drilling. According to Petrosen, Senegal currently has 16 offshore blocks and 5 onshore blocks available, with hydrocarbon discoveries having already been made in some. Senegal offers competitive fiscal terms for operators and has emerged as one of the most attractive oil and gas investment destinations owing largely to efforts by President Sall.

Beyond the oil and gas industry, Senegal has seen a strong pipeline of renewable energy and power generation projects kick off. With some of the lowest energy prices in Africa, the country is committed to achieving universal access to electricity by 2025, and various projects are underway to achieve this. A focus on gas-to-power is poised to enhance generation capacity, led by projects such as the Cap des Biches combined-cycle power project (300 MW). The country’s first utility-scale wind project – the 158 MW Taiba N’Diaye wind farm – is also responsible for 15% of the country’s electricity output.

“President Macky Sall has been unashamed about supporting Africa’s development and it has been an honor working with him and following his pro-growth energy agenda. Thanks to his leadership, Senegal is emerging as an energy champion. His years of service to both Senegal and Africa have been amazing. He will go down in history as one of the greatest African leaders of our time,” added Ayuk.

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

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Azentio expands its leadership team with 2 new appointments

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Women in leadership takes centre stage as Azentio welcomes Aarthi Ramesh and Emma Foley

SINGAPORE, Singapore, July 4, 2024/APO Group/ — 

Azentio Software (“Azentio“) (https://apo-opa.co/3XVs4JH)- a leading end-to-end software company specializing in the BFSI sector, today announced the appointment of Aarthi Ramesh as Chief Customer Officer and Emma Foley as Chief Marketing Officer.

Ramesh joins Azentio with over two decades of experience in the IT industry, both within the services and SaaS space. Most recently she served as Vice President at Freshworks, managing a large portfolio of strategic accounts across Asia Pacific, Middle East and Africa. During this time, she contributed significantly to the company’s growth, including as Head of GTM Operations, where she played a pivotal role in scaling the operations function and aligning it with the company’s IPO objectives. Prior to Freshworks, Aarthi had a long successful stint with Cognizant as global COO for a large business unit.

At Azentio, Ramesh will primarily be focused on delivering excellence in customer success. In her role, Aarthi will ensure customer satisfaction and retention by overseeing all customer-facing activities. This includes managing customer success teams, support services, and customer experience strategies to ensure seamless onboarding, adoption and ongoing engagement with Azentio products suite.

Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio

Commenting on the announcement, Aarthi said, “I am delighted to join Azentio and lead our efforts towards achieving complete customer centricity. With my extensive background in both product and services and my dedication to driving customer success, I am confident I can significantly benefit both our business and our customers.”

Foley brings with her over 20 years of B2B marketing experience primarily focused on the tech space in the MEA, APAC and European markets. Most recently serving as the Head of Marketing for Europe, Middle East & Africa at Temenos, Foley is immersed in building high performing teams to drive transformative marketing models. Her expertise in leveraging data analytics to enhance marketing efficiency and effectiveness is expected to play a pivotal role in shaping Azentio’s marketing strategies into the future.

Her primary focus will be in ensuring Azentio’s value propositions are clear, compelling, and simple for customers as well as supporting the business in its strategic growth plans throughout the Middle East, Africa and South East Asia, with a significant focus on digital marketing technology as well as data-driven marketing initiatives.

Speaking about her appointment Foley commented, “I am thrilled to join Azentio, a company I have known and regarded highly for its cutting-edge solutions and customer-first approach. I look forward to leveraging my experience to contribute towards the company’s growth, driving marketing strategies that resonate with our customers and set new standards in the industry.”

Sanjay Singh, CEO at Azentio added, “Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio. As our company continues to grow, I am confident that both of these leaders will help us to achieve Azentio’s vision and growth ambitions while championing innovation and a customer first mindset.”

Distributed by APO Group on behalf of Azentio Software Private Limited.

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Siemens and PANA Infrastructure Join Forces in Groundbreaking Initiative to Modernize Nigeria’s Power Sector

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Siemens

By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors

ABUJA, Nigeria, July 3, 2024/APO Group/ — 

Siemens (www.Siemens.com​) and PANA Infrastructure announce a strategic collaboration to tackle Nigeria’s Electrical Infrastructure sector; The initiative aims to enhance power stability and create job opportunities in Nigeria; Combining expertise, they aim to enhance Nigeria’s power sector.

Siemens, a leading global technology company, and PANA Infrastructure, a Nigerian conglomerate with an increasing footprint across Sub-Saharan Africa, have formally announced a strategic partnership aimed at modernizing and upgrading Nigeria’s electric power infrastructure through the provision of grid automation, and smart infrastructure solutions across Nigeria. This collaboration, solidified through a formal agreement signifies a pivotal step towards addressing Nigeria’s pressing electricity challenges while fostering economic growth and technological advancement in the region.

“This collaboration underscores our commitment to fostering sustainable development and advancing technology in Nigeria,” stated Sabine Dall’Omo, CEO of Siemens Sub-Saharan Africa. “By combining Siemens’ expertise in smart grid technologies with PANA Infrastructure’s deep market insights, we aim to ensure a reliable power supply and drive economic progress in the region.”

We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies

According to Mr. Daere Akobo, Chairman of PANA Holdings, “this strategic collaboration with Siemens is a pivotal opportunity to transform Nigeria’s power sector. We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies. This collaboration is in alignment with the transformation agenda in the power sector by the Nigerian government to significantly improve power supply in the country, in a manner that translates to economic progress for all Nigerians.”

The agreement signed between Siemens and PANA Infrastructure, focuses on enhancing grid reliability and stability, deepening electrification rates to meet the rapidly growing demand for electricity in Nigeria.

Simultaneously, recognizing Nigeria’s potential for substantial investments in industrial modernization, the partnership will concentrate on unlocking Nigeria’s potential in the industrial power sector. This initiative aims to revolutionize Nigeria’s industrial landscape by harnessing the power of advanced technologies and solutions to enhance productivity, efficiency, and quality. Through local capacity development, enhancing employees’ skills and capabilities, Siemens and PANA Infrastructure will pave the way for a new era of industrial excellence in Nigeria.

“Siemens reaffirms its commitment to Nigeria, with a focus on identifying and developing strategic business opportunities within the region. By leveraging a go-to-market strategy that includes knowledge platforms, collaborative business strategies, integrated sales and marketing teams, and global support, Siemens strives to bring significant business value to the Nigerian market,” says Sabine Dall’Omo.

Meanwhile, PANA Infrastructure has positioned itself as a key player in understanding and envisioning the needs of industry stakeholders and local communities. By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors.

This strategic collaboration between Siemens and PANA Infrastructure represents the convergence of proven expertise and application know-how, ensuring the highest quality of solution implementation for Nigeria’s industrial power sector. By addressing key challenges in Nigeria’s power and industrial sectors, including electricity losses, rural electrification, capacity building, local production, technology transfer, and quality standards, this partnership aims to drive sustainable growth and development in Nigeria.

Distributed by APO Group on behalf of Siemens AG.

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Afreximbank announces Board changes and increase in authorized capital

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Afreximbank

Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed

CAIRO, Egypt, July 3, 2024/APO Group/ — 

African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) is pleased to announce the following Board changes which took place at the Bank’s 31st Annual General Meeting held recently in Nassau, The Bahamas,

Board Changes

Class “A”

Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed. Mrs. Jafiya is the Permanent Secretary, Federal Ministry of Finance of the Federal Republic of Nigeria.

Mr. Amadou Hott was elected to fill the position of the African Development Bank nominated board seat. Mr. Hott is currently the Special Envoy of the President of the African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa. Prior to this appointment, Mr. Hott was Senegal’s Minister for Economy, Planning and Cooperation.

Class “B”

We look forward to their support and insight as we strive to build a prosperous Global Africa

Mr. Noël Mekulu Mvondo Akame was elected to replace Mr. Jean-Marie Mani. Mr. Mekulu Mvondo Akame is currently the Director General of the National Social Insurance Fund (CNPS) of Cameroon.

Class “C”

Ms. Yu Wen was elected to replace Ms Lili Yang. Ms. Yu Wen currently serves as the General Manager of the International Department at the Export-Import Bank of China (CEXIM).

Increase in Authorised Share Capital

The shareholders of the Bank also approved an increase in the authorised share capital from US$5 billion to US$25 billion. The increase recognizes the rapid growth of the Bank in response to the challenges facing the African continent. It also creates capacity for the Bank to support the growth and development envisaged for the African continent in line with its mandate to promote the continent’s trade and affirm its relevance on the global stage.

Commenting on these significant developments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank remarked:

“Afreximbank is most grateful to departing Board Members for their services to the Bank and Africa. They were for many years, part of a formidable team, that made significant contribution to the Bank’s vision for Africa, created alliances, and assisted Africa in navigating major headwinds. We welcome our new board members. We look forward to their support and insight as we strive to build a prosperous Global Africa. Together, we will restore dignity and pride to Africans around the world.”

 He added: “the overwhelming endorsement by Shareholders of the historic increase of the Bank from US$5 billion to US$25 billion reflected their firm belief and trust in the Board and Management of the Bank and in the Bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans.”

Distributed by APO Group on behalf of Afreximbank.

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