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African National Oil Companies (NOCs) Boost Project Development with Innovative Financing Strategies

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Through privatization, joint ventures and development finance, Africa’s national oil companies are advancing oil and gas projects

CAPE TOWN, South Africa, March 26, 2025/APO Group/ –African national oil companies (NOCs) are leveraging innovative financing strategies to advance oil and gas projects, ensuring continued investment despite shifting global energy markets. Through various innovative strategies such as privatization and divestment, bond issuances, development finance and resource-backed loans, NOCs are not only strengthening their financial capacity but positioning themselves at the forefront of African oil and gas development.

The African Energy Week: Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – will explore the impact these strategies will have on the continent’s hydrocarbon landscape. Uniting global financiers, development institutions, foreign operators and NOCs, the event will unlock a new wave of finance in African energy.

Privatization and Divestment

Privatization and asset divestment have become crucial tools for African NOCs to streamline their operations and attract private capital. By selling stakes in non-core assets and partially-privatizing, NOCs are raising the much-needed capital to support oil and gas projects. Angola’s Sonangol, for example, has reaffirmed its plan to launch an Initial Public Offering (IPO), with 30% of the company’s shares expected to become available. The IPO falls under the broader Propiv initiative by the government – aimed at reforming the economy toward a free market. The initiative will make 11 of Sonangol’s processes public through public tenders, limited tenders and IPOs.

Bond Issuances and Capital Market Financing

African NOCs are deploying a diverse range of financing strategies to ensure continued investment in oil and gas projects

With the need for long-term project financing, governments and NOCs have turned to international capital markets, issuing bonds to raise funds for large-scale projects. Bond issues originating from Africa exceeded $14.8 billion in Q1, 2024, as African business and governments tap into the international bond market. The Africa Finance Corporation acted as Global Coordinator for the issuance of a domestic dollar bond from the Nigerian government in 2024, raising $900 million. The first-of-a-kind issuance closed with 180% oversubscription, highlighting strong domestic investor confidence. Nigeria also issued a $1.7 billion Eurobond in December 2024, which was oversubscribed five-fold.

Joint Ventures

Joint ventures (JV) have proven effective strategies for NOCs to raise capital, leverage foreign technical expertise while sharing financial risk across oil and gas projects. The Ghana National Petroleum Corporation (GNPC) has committed to pursuing innovative JVs with Eni in 2025 and beyond to fast-track oil and gas projects. The country’s biggest oilfields – Jubilee and TEN – were developed through a JV between GNPC, Kosmos Energy, Petro SA and Jubilee Oil Holdings. JVs have served as a vehicle for Libyan oil and gas development. Mellitah Oil & Gas – a JV between the NOC and Eni – produced 403,000 barrels per day (bpd) in 2024 while Akakus Oil Operations – a JV between the NOC and Repsol – achieved record production in 2025 with 306,000 bpd.

Development Finance and Resource-Backed Loans

Development finance and resource-backed loans have become vital financing mechanisms for NOCs, particularly as access to private capital for oil and gas projects becomes increasingly challenging. The Nigerian National Petroleum Corporation has leveraged oil-backed loans to increase its balance sheet over the years and is currently seeking a new $2-billion structure to support production growth. The first $1 billion tranche has already been concluded with a second tranche in the works. Mozambique’s ENH leveraged development finance to fund its gas projects. Notably, the $20 billion Mozambique LNG project is expecting a $4.7 billion loan from the U.S.-Export-Import Bank to be re-approved. The project has already secured $3 billion in financing from the Japan Bank for International Cooperation. Meanwhile, Uganda and Tanzania’s NOCs are seeking an additional $3 billion in debt financing from Chinese lenders, specifically the Export-Import Bank of China and China Export & Credit Insurance Corporation, to fund the East African Crude Oil Pipeline.

“African NOCs are deploying a diverse range of financing strategies to ensure continued investment in oil and gas projects. From privatization and asset sales to bond issuances, joint ventures and development finance, NOCs are adapting to evolving market conditions while securing the necessary capital to sustain exploration and production,” states Ore Onagbesan, Programming Director, African Energy Chamber.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

Distributed by APO Group on behalf of African Energy Chamber.

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From Megawatt (MW) to Gigawatt (GW): Why Africa Must Think in Grid-Scale Power to Compete in the Artificial Intelligence (AI) Economy

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As AI infrastructure drives power demand into the gigawatt range, Africa must move beyond incremental energy planning – placing grid-scale generation at the center of discussions at African Energy Week 2026’s AI and Data Center Track

CAPE TOWN, South Africa, May 11, 2026/APO Group/ –The rapid expansion of artificial intelligence is fundamentally reshaping global energy demand, with implications that extend well beyond traditional power planning. Nowhere is this more apparent than in the growing energy footprint of data centers. Facilities that once required tens of megawatts are now being developed at 100–200 MW scale, with hyperscale campuses increasingly aggregating demand into the gigawatt range.

 

This shift presents a structural challenge for Africa. While the continent is rich in energy resources, its planning frameworks remain largely oriented around incremental, megawatt-scale additions – often tied to localized demand or short-term capacity gaps. In the context of AI-driven infrastructure, this approach is increasingly misaligned with the scale and concentration of future demand.

Africa’s data center sector, while growing, remains at an early stage. Operational capacity currently stands at approximately 300–400 MW, with projections reaching 1.5–2.2 GW by 2030. At the same time, demand is accelerating rapidly: electricity consumption from data centers is rising at 20–25% annually and is expected to reach around 8,000 GWh in the near term. This growth mirrors a broader global surge, with data center power demand projected to approach 945 TWh by 2030, driven largely by AI workloads.

This is ultimately about aligning Africa’s energy strategy with where global demand is heading

What distinguishes AI-related demand is not only its scale, but its concentration and consistency. Unlike many traditional industrial loads, data centers require uninterrupted, high-quality power, often with built-in redundancy. This places new demands on grid design, prioritizing stability, capacity and long-term scalability over incremental expansion.

Meeting these requirements will require a departure from conventional planning models. Rather than adding capacity in small increments, there is a growing case for developing gigawatt-scale generation aligned with emerging digital infrastructure hubs. This means integrating power generation, transmission and data center development into coordinated investment strategies, particularly in markets with strong resource bases and improving regulatory environments.

It also requires a shift in how excess capacity is viewed. In many African power systems, surplus generation has historically been treated as a financial inefficiency. In the context of AI and digital infrastructure, however, maintaining a margin of available capacity can enhance grid stability, reduce outages and provide the flexibility needed to support rapid load growth, while creating a foundation for broader industrial development.

A useful benchmark can be seen in Northern Virginia, the world’s largest data center market, where installed capacity has now exceeded 4 GW and more than 1 GW of new supply was added in a single year, reflecting the rapid pace at which hyperscale infrastructure is being deployed. Driven by major cloud and AI players, demand has tightened the market significantly, with vacancy rates approaching zero and most new capacity released well in advance. The scale and speed of development highlight how quickly data center demand is expanding – and underscore the level at which infrastructure must be planned.

These dynamics are increasingly shaping the policy conversation. At African Energy Week 2026, the AI and Data Center Track will focus on the infrastructure required to support this transition, with a particular emphasis on aligning energy planning with digital economy objectives. As AI infrastructure scales, reliable and abundant power is no longer a supporting factor, but a prerequisite.

“This is ultimately about aligning Africa’s energy strategy with where global demand is heading,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “If we continue to plan in megawatts, we will struggle to compete in an economy that is already moving at the gigawatt scale. Building larger, more resilient power systems is not just about meeting demand – it is about creating the conditions for investment, innovation and long-term growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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Telecoming Strengthens Its Presence in Africa with the Launch of DCB Software South Africa

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The company advances its regional strategy with a model built on AI, monetisation and direct connectivity with local operators

JOHANNESBURG, South Africa, May 11, 2026/APO Group/ –Telecoming (www.Telecoming.com), a global technology company specialising in the monetisation of digital services, announces the launch of DCB Software South Africa (www.DCBSoftwareZA.com), its new local subsidiary. The move reinforces the company’s growth strategy in Africa, one of the most promising markets in the mobile economy.

The new entity will be led by Javier de Corral, who will lead business development, establish partnerships with telecom operators and build a local team based in Johannesburg.

The South African launch builds on Telecoming’s existing footprint in the continent, where it already operates through its Algerian subsidiary, DCB Software Dzayer, further strengthening its regional position.

We are very excited about the opportunities in South Africa and committed to investing in its digital future

DCB Software South Africa will operate as a local hub focused on AI-driven digital services, supported by a team entirely based in the country. Its scope includes the development of digital products, mobile and web services, as well as solutions in digital entertainment and marketplaces, all built on scalable, multi-device platforms designed to ensure a seamless user experience.

The subsidiary combines in-depth knowledge of the South African and Sub-Saharan markets with direct access to telecom operators, digital platforms and local payment solutions. It will deploy multiple monetisation models, including Direct Carrier Billing (DCB), to optimise conversion rates and overall performance.

The launch of DCB Software South Africa marks a key milestone in our global expansion strategy”, said Cyrille Thivat, CEO of Telecoming. “We are very excited about the opportunities in South Africa and committed to investing in its digital future. With Javier de Corral at the helm, we are confident that this new subsidiary will not only drive our local growth but also contribute to the broader digital and AI ecosystem.”

Telecoming develops technology designed to enhance user acquisition, streamline payment processes and improve the performance of digital services. Its platforms integrate monetisation, advertising and user experience, leveraging artificial intelligence to deliver secure, scalable and efficient solutions.

This expansion reinforces Telecoming’s commitment to delivering innovative digital and AI services and strengthens its position as a key player in the African market. With this launch, the company takes another step in its international expansion, enhancing its ability to support the development of Africa’s digital ecosystem through advanced technology, local expertise and strategic partnerships.

Distributed by APO Group on behalf of Telecoming.

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Enlit Africa 2026 makes 20 May the Commercial and Industrial (C&I) delivery day across power, water and clean energy hubs

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Taking place 19–21 May 2026 at the Cape Town International Convention Centre (CTICC), Enlit Africa, created by VUKA Group, convenes utilities, municipalities, large energy users, financiers, developers and technology providers to focus on what shifts outcomes in African infrastructure

CAPE TOWN, South Africa, May 11, 2026/APO Group/ –Enlit Africa 2026 will put commercial and industrial delivery front and center on Wednesday 20 May with a dedicated line-up across the Power HubWater Hub and Renewable Energy & Storage Hub. The day is built for decision-makers who must keep operations running, secure reliable supply, manage risk and move projects from concept to implementation.

 

Taking place 19–21 May 2026 at the Cape Town International Convention Centre (CTICC), Enlit Africa, created by VUKA Group, convenes utilities, municipalities, large energy users, financiers, developers and technology providers to focus on what shifts outcomes in African infrastructure.

On 20 May, the programme is anchored by the keynote, “How a coordinated energy/water plan could change African resilience” (09:30–11:45), positioning water and energy as interlinked operational risks that can no longer be managed in silos. From there, the day breaks into practical tracks tailored for large users and the solution partners that support them.

In the Renewable Energy & Storage Hub, sessions focus on the realities of C&I adoption and delivery at scale, including “Project implementation for multi-megawatt C&I projects” (11:45–13:00) and “Clean energy adoption in the C&I market” (14:30–15:45), before turning to fleet electrification and operations with “Mobility: Management of electric vehicle fleets for C&I” (16:00–17:30).

In the Water Hub, the agenda targets the technologies and operating models that matter most to industrial continuity and compliance. Sessions include “Next-generation water treatment technologies” (11:45–13:00), “Advanced water treatment & smart water systems” (14:30–15:45) and “Accelerating water technology deployment for C&I operations” (16:30–17:30).

Together, the three stages create a single day of high-signal, implementation-led content for C&I leaders, utilities, municipalities and suppliers focused on operational performance, investment readiness and delivery discipline.

Distributed by APO Group on behalf of VUKA Group.

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