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Angola, Democratic Republic of Congo (DRC) to Ink Milestone Oil & Gas Agreement for Chevron Operated Block 14

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Oil & Gas

The Agreement aims to enhance regional cooperation, solidifying Angola’s pivotal role in fostering collaboration and partnership across Africa

JOHANNESBURG, South Africa, July 13, 2023/APO Group/ — 

Angola and the Democratic Republic of Congo (DRC) are set to make history with the signing of an agreement for the development of Block 14 on Thursday 13 July in Kinshasa. The agreement, set to be signed by Diamantino Pedro Azevedo, Minister of Mineral Resources, Oil and Gas of the Republic of Angola and his DRC counterpart Minister Didier Budimbu Ntubuanga, will mark a major milestone in the collaboration between the two African nations and holds immense significance for both countries.

The signing of the agreement will authorize the Block’s ownership, with the DRC and Angola taking a 30% stake each while global energy major – and block operator –Chevron taking a 40% stake. The signing puts an end to decades-long deliberations between the countries and is a testament to both Minister Azevedo and Minister Ntubuanga’s commitment to advancing oil and gas exploration on the back of regional collaboration.

For Angola, the signing enables the country to leverage its experience as a major oil producer to grow both its domestic market and the regional economy. Boasting an abundant 9 billion barrels of oil reserves and producing over 1.08 million barrels of oil per day (February 2023), Angola stands out as an African oil powerhouse. The country has done exceptionally well in harnessing its own resources to advance economic growth, and continues to drive a series of impactful project developments across the entire energy value chain. This success makes the country the partner of choice for up-and-coming oil producers such as the DRC.

This landmark deal not only paves the way for extensive exploration activities in the DRC, but also serves as a catalyst for promoting regional collaborations

By leveraging its position as a significant oil producer, Angola seeks to advance regional basin development and encourage cooperation across the African energy industry. Sharing knowledge and expertise with the DRC will not only strengthen their bilateral relations but also contribute to the overall growth and stability of the region.

For the DRC, this represents a breakthrough in its pursuit of new oil supplies and joint development opportunities. The signing of the deal and associated development of the Block will enable the DRC to increase daily crude oil production. As one of the largest countries in Africa, the DRC has long sought to tap into its abundant natural resources, especially its unexploited oil deposits. The country boasts up to five billion barrels of reserves, and the agreement with Angola paves the way for several paths of cooperation and significant information exchange, allowing the DRC to capitalize on Angola’s profound expertise and extensive experience as a prominent oil producer. This partnership is set to unlock several exchanges across a range of areas, including but not limited to technology transfer, best practices in exploration and production, refining and processing techniques, and efficient management of oil resources. Angola’s valuable insights and lessons learned can be instrumental in enhancing the DRC’s own oil sector, optimizing its operations, and maximizing the economic potential of its petroleum resources.

The Chamber acknowledges and commends both governments and their respective teams for their exceptional leadership and dedication in successfully finalizing this monumental deal. The negotiation process for this agreement spanned an impressive two-decade period, during which the combined efforts of both governments were crucial in overcoming various challenges and preventing further delays on the project.

This landmark deal not only paves the way for extensive exploration activities in the DRC, but also serves as a catalyst for promoting regional collaborations. By fostering partnerships and cooperation, this agreement unlocks significant opportunities for cross-border initiatives and mutually beneficial ventures among neighboring countries.

The African Energy Chamber recognizes the immense significance of this achievement, which has been made possible through the unwavering commitment and collaborative spirit demonstrated by both governments and their dedicated teams. Their unwavering determination and tireless efforts have paved the way for a new era of exploration and regional cooperation in the DRC and beyond.

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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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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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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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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