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African Resources to Catalyze Global Energy Security, Says African Energy Week (AEW) 2024 Opening Panel

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Energy Security

With energy demand projected to increase more than 50% between 2020 and 2050, Africa is strategically positioned to meet global energy needs while driving its own socioeconomic development

CAPE TOWN, South Africa, November 6, 2024/APO Group/ — 

Global energy demand is anticipated to increase 27% by 2040, with fossil fuels projected to account for the lion’s share of the world’s energy mix beyond 2050. Meeting this demand will require alternative energy supplies, and Africa, with over 125 billion barrels of proven oil reserves and 620 trillion cubic feet (tcf) of proven gas, is uniquely positioned to drive global energy security efforts.

The opening panel discussion at the African Energy Week (AEW): Invest in African Energies 2024 conference explored how African energy resources drive global energy security. With a large share of Africa’s proven oil and gas reserves unexploited and regulatory reforms strengthening the business environment across the continent, Africa has emerged as a highly competitive investment destination.

Atul Arya, Senior Vice President and Chief Energy Strategist at S&P Global Commodity Insights, explained that “There is no shortage of potential in Africa. The transition is going to be multidimensional and multi-fueled. In Africa, we have seen $58 billion invested in upstream activities in 2019 and it went down to $20 billion in 2020. We hope to see it hit $58 billion in the coming years again.”

Africa’s biggest producers continue to invest heavily in exploration and production aiming to increase output and exports. In 2024, Nigeria launched its latest licensing round, energy majors have resumed exploration in Libya while Angola is preparing to launch its next offshore bid round. These efforts will drive production growth in Africa, consolidating the continent’s position as a global supplier.

We made great discoveries over the last two years and we continue to have more interest coming in terms of exploration

“Nigeria has enormous potential. We have about 37 billion barrels of crude and 209 tcf of gas. However, we believe that we have a lot more than that. We believe that we can produce 2.5 million barrels per day (bpd) within the next year. Today, we produce 1.7 million bpd. By addressing our decaying infrastructure, we can boost output,” said Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil).

Angola has turned to regulatory reform to boost production. According to the country’s Minister of Mineral Resources and Petroleum, Diamantino Pedro Azevedo, “We started by changing the governance model of the sector, introducing two new regulators – one for upstream and one for mid and downstream – and we also instituted changes in the laws and fiscal regime.” This will strengthen export capacity and regional petroleum trade.

For Gabon, deepwater exploration is a significant opportunity for investors. Marcel Abéké, Minister of Petroleum, Gabon, said that “We have significant potential in the deep offshore waters. The majority of gas we have in Africa is in the deep waters. For now, we do not have the means to utilize those resources. We are here to call on big investors to come to Africa and explore.”

Accelerated field development is also a top priority for emerging producers in Africa. Namibia, for instance, is widely-considered the biggest frontier play worldwide. With a string of offshore discoveries made since 2022, the country is targeting first oil production in the Orange Basin by 2029.

“We made great discoveries over the last two years and we continue to have more interest coming in terms of exploration. Now, we are putting more emphasis on local content issues. Through local content, we will generate other economic activities within the Namibian economy. When you have an alignment, whether it’s projects or local content or regulations, everything is possible,” said Tom Alweendo, Minister of Mines and Energy, Namibia.

International oil companies like Chevron are driving a multi-energy approach to generate high returns and unlock new sources of sustainable energy for Africa. Liz Schwarze, Chevron’s Vice President of Global Exploration, explained that “The future energy mix will have oil and gas in it for much longer. As we grow our business worldwide and reduce the carbon intensity of our operations, one of Chevron’s strategic areas is Africa. This is because there is tremendous potential, from rocks and geology to a welcoming environment. Ultimately, this will enable us to deliver energy where it is most needed.”

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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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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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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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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