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Angola’s Plan to Improve Oil Industry Performance is Already Yielding Fruit with Fast-Tracking Sustainable Oil Development

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Oil Industry

The country’s crude yields peaked in 2008 at slightly less than 2 million barrels per day (bpd) and now stand at around 1.10-1.15 million bpd

JOHANNESBURG, South Africa, July 17, 2023/APO Group/ — 

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org).

Angola has been in the petroleum business for a long time. It extracted its first barrels of crude oil in the mid-1950s, when development operations started at Benfica, an onshore field in the Cuanza basin, and became an even more prominent player after international oil companies (IOCs) started making major discoveries in the offshore zone in the late 1960s.

Since then, the country has worked its way up through the ranks to become one of the biggest crude oil producers in Africa. Sometimes it even tops the list of the continent’s largest producers. In August 2022, for example, it surpassed Nigeria and attained the top spot for the first time since 2017. While that rise was temporary, Angola became the continent’s No. 1 producer again in May of this year. Even if Nigeria surpasses it again, these instances serve as illustrations of Angola’s ability to sustain output at significant levels.

Production challenges

Even so, it’s worth noting that Angola’s oil sector faces significant challenges.

The country’s crude yields peaked in 2008 at slightly less than 2 million barrels per day (bpd) and now stand at around 1.10-1.15 million bpd. The government has said it wants to push production levels up to 1.3 million bpd, but it will not necessarily have an easy time doing so. This is because the decline in output has been structural in nature. That is, it stems partly from the maturation of many large offshore oil fields, partly from IOCs’ failure to launch enhanced oil recovery (EOR) projects to stem the downward trend, and partly from inadequate investment in upstream capacity. These trends are not easy to reverse, even though officials in Luanda have made some efforts to attract new investors and to encourage exploration through such measures as new licensing rounds.

Nevertheless, it would be a mistake to assume that the long-term decline in crude output is a sign that Angola’s oil industry is destined to keep shrinking to the point of insignificance. The country is taking steps to raise production, not just to push yields up to 1.3 million bpd but also to stabilize them at that level.

Diamantino Pedro Azevedo Minister of Mineral Resources, Oil and Gas, has brought Working together with ANPG and Sonangol leadership have been able to leverage both the power of government and the power of the business community to achieve overdue changes. These efforts are commendable, and I believe they will be successful — especially since IOCs are working with the national oil company (NOC), Sonangol, to accelerate new developments.

Building on Existing Infrastructure

We look forward to seeing the country rack up more successes in the years to come, starting with its push to raise crude oil output to 1.3 million bpd

In a number of cases, this collaboration has focused on making use of existing infrastructure to streamline development. I’ll mention two examples here, starting with Azule Energy, a company that BP of Great Britain and Italy’s Eni established last year to consolidate their Angolan portfolios.

Azule Energy may be relatively new, but it already has a track record of success with respect to working with Sonangol to push upstream operations forward. Indeed, the joint venture has focused specifically on bringing new reserves online as quickly as possible and has developed a strategy for doing so. This strategy is known as Infrastructure-Led Exploration (ILX), and Eni has described it as a means of using subsea tie-backs, which connect new deposits to existing production facilities as quickly as possible. This fast-track approach minimizes the time that greenfield projects spend waiting in the pipeline between discovery and development. It also maximizes sustainability, as reducing the need for new construction helps to lessen the environmental impact of upstream operations.

Azule Energy has already racked up a number of successes thanks to ILX. In late 2021 and early 2022, for example, it succeeded in bringing three new sections of the ultra-deepwater Block 15/06 on stream within a period of just seven months: Cuica, Cabaca, and Ndungu. Moreover, it put itself in a position to ramp production up quickly by employing a tactic of “appraisal whilst producing” – that is, by allowing appraisal wells to be used for development whenever possible rather than maintaining a distinction between the two types of wells. In the case of Ndungu, this was spectacularly successful, as it allowed the company to discover additional resources and raise its reserve estimate for the field from the initial level of 250-300 million barrels of oil equivalent (boe) to 800 million-1 billion boe.

ILX is on track to score yet another success within the next few years at Agogo. This field, also located within Block 15/06, is the next target in Azule Energy’s development pipeline. It is slated to come on stream in 2026, and the company’s contractor, Saipem of Italy, has already begun construction of a new subsea production network there for the Early Phase 2 development project. This new network will eventually be connected to an FPSO that will support a development hub capable of supporting additional production of 175,000 bpd.

Fast-Tracking Oil Development

Meanwhile, Azule Energy is not the only IOC trying to ramp up production as rapidly as possible in cooperation with Sonangol. TotalEnergies of France has been following a similar path by emphasizing short-cycle development projects that extend its subsea production network in a low-impact manner by using tie-backs to link new fields to nearby floating production, storage, and offloading (FPSO) vessels.

One such project is CLOV Phase 3, which targets the Cravo, Lirio, Orquidea, and Violeta fields within Block 17. TotalEnergies made a final investment decision (FID) on this project in June 2022, and it said at the time that CLOV Phase 3 was expected to carry a price tag of USD850 million. It also noted, though, that it would be able to trim its costs by as much as 20% because of the decision to use standardized equipment to establish production networks.

CLOV Phase 3 is slated to be the first upstream Angolan project to benefit from TotalEnergies’ use of standardized subsea equipment. However, the French major does hopes to take the same approach to future short-cycle development initiatives. In the meantime, CLOV Phase 3 is expected to boost Angola’s oil output by 30,000 bpd once it comes online in 2024.

Long-Term Goals

These brief mentions do not reveal the whole picture, as they do not illuminate all of the paths that Sonangol is taking to intensify cooperation with its foreign partners. But they do offer two examples of the work that the country has been doing to counter the long-term decline in oil production levels. More specifically, they demonstrate the gains that can be made when stakeholders work to make the most of what they already have.

But the point is not just to increase crude production and keep an existing industry afloat. Angola also sees the oil sector as a vehicle capable of laying a foundation for the country’s eventual transition to renewable energy in a way that maximizes the gains for citizens. To achieve this end, it is trying to generate as much revenue as possible from the development of its offshore oil reserves so that the proceeds can be used to grow the country’s economy. It is also seeking to ensure that IOCs share training and technology, thereby contributing to the development of a more highly skilled labor force and the expansion of local capacity for the support of complex projects. Additionally, it is working to reduce energy poverty by building new refineries that will improve local access to high-quality fuels.

Once again, the AEC commends Angola for these efforts. We look forward to seeing the country rack up more successes in the years to come, starting with its push to raise crude oil output to 1.3 million bpd and eventually achieving a just and sustainable energy transition, in which renewable and low-carbon forms of energy are both abundant and easily accessible.

Distributed by APO Group on behalf of African Energy Chamber.

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Creative Africa Nexus (CANEX) WKND 2026 opens in Lagos, bringing together leading African and diaspora creatives, investors and policymakers

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The four-day gathering will convene leading voices from film, music, fashion, sport, publishing, gastronomy and business to advance trade, investment and commercial opportunities across Africa’s creative economy

LAGOS, Nigeria, November 5, 2026/APO Group/ –Creative Africa Nexus (CANEX) WKND 2026 has opened today in Lagos, bringing together leading creatives, investors, policymakers, business leaders and cultural figures from across Africa and the diaspora for four days of conversations, deal-making, performances, exhibitions and industry-focused sessions.

 




  

Hosted by the Federal Government of Nigeria and organised by African Export-Import Bank (Afreximbank) through its Creative Africa Nexus (CANEX) programme, this year’s event runs from 5 to 8 November under the theme “One People, United in Culture, Creating for the World.”

The 2026 programme spans film and television, music, fashion, sport, literature and publishing, gastronomy and visual arts, with a strong focus on finance, intellectual property, technology, skills, investment and market access.

Across the four-day programme, CANEX WKND will provide platforms for deal-making, industry dialogue and sector-specific engagement, including the CANEX Deal Room, with the aim of turning creative talent and ideas into stronger businesses, partnerships and commercial opportunities.

That ambition reflects the evolution of Afreximbank’s commitment to Africa’s creative and cultural industries in 2020, subsequently doubling this to US$1 billion before quadrupling the original commitment financing available to US$2 billion.

The expansion reflects Afreximbank’s wider objective of helping African creators and creative businesses build scalable enterprises, strengthen ownership of intellectual property and retain more of the economic value generated by African culture and creativity.

The opening ceremony is expected to feature addresses by Ministers of Culture and Creative Industries across 11 African countries, Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, H.E. Dr Olajumoke Omoniyi Oduwole, Nigeria’s Minister of Industry, Trade and Investment, H.E. Wamkele Mene, Secretary-General of the African Continental Free Trade Area Secretariat, and H.E. Babajide Sanwo-Olu, Governor of Lagos State among other dignitaries.

The programme will bring together some of Africa and the diaspora’s most influential cultural and industry figures. Participants include Nobel Laureate, writer and playwright Professor Wole Soyinka; Emmy Award-winning actor Uzo Aduba; filmmaker and actor Funke Akindele; actors Richard Mofe-Damijo and Thuso Mbedu; former professional footballers Didier Drogba and Jay-Jay Okocha; alongside leading figures from Africa’s music, film, fashion, sport and creative business sectors.

The event will also include performances and appearances from musicians and entertainers such as Davido, Fally Ipupa, Flavour, Libianca and Charlotte Dipanda, reflecting CANEX WKND’s combination of industry engagement with live cultural programming.

Beyond the headline names, the programme places a strong emphasis on the business of Africa’s creative economy.

On 6 November, a high-level conversation titled “One Market, One Culture: Building the Creative Economy of Global Africa” will examine the steps required to convert the growing global influence of African culture into stronger creative businesses, exports and investment. Speakers include Professor Wole Soyinka; ministers responsible for culture and the arts from Côte d’Ivoire, South Africa and Rwanda; International Finance Corporation representatives; and from Afreximbank.

Financing will also be central to the programme. The Creative Economy Finance Summit, presented by Afreximbank in partnership with the Creative Economy Practice at Co-Creation Hub, will bring financial institutions and investors together to examine how creative-economy transactions can be structured, financed and de-risked.

CANEX Creations Inc. will lead discussions on unlocking investment in African intellectual property, while the CANEX Deal Room and Creative Pitch Sessions will connect creative entrepreneurs directly with financiers and investors considering opportunities across film and television, music, fashion, sport, publishing, gastronomy, visual arts and creative infrastructure. Technology and the changing economics of creative production will feature prominently. Sessions will examine artificial intelligence, authorship and intellectual property; the use of technology to reshape creative businesses; and how African creators can use digital tools to develop globally competitive products.

The CANEX CreaThon, delivered with pan-African technology company Gebeya, will bring creators, developers and innovators together around projects in music, video and gaming, supported by African-built digital tools, mentorship, computing resources and a US$50,000 prize pool. Film and television programming will explore both storytelling and the commercial infrastructure required to take African content to wider audiences. Sessions include “Stories Without Borders: Africa, Hollywood & the Global Diaspora”, featuring former Afreximbank President Professor Benedict Oramah, and “Made in Africa, Watched in Africa”, which will examine research into film distribution, audiences and financing across Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa.

Sport will form another major strand of CANEX WKND 2026. Discussions will examine athlete development, management, commercialisation and the links between sport and the broader creative economy. Didier Drogba and Jay-Jay Okocha are scheduled to participate in “When Giants Speak: The Business of the Game,” while the weekend will conclude with a Legends Football Match at Onikan Stadium on 8 November. Fashion programming will include masterclasses on building profitable African brands, textile value chains, market access and intellectual property, alongside the CANEX Fashion Show and Awards Night.

In gastronomy, the CANEX Junior Chefs Competition, Africa Jollof Wars Competition and a series of live demonstrations and conversations will explore how African food, ingredients and culinary traditions can become stronger commercial propositions across domestic, continental and global markets. Publishing and literature will feature through the CANEX Book Factory, Book Fair, writers’ workshops, manuscript pitching and the CANEX Prize for Publishing, while visual arts programming will combine exhibitions, collector engagement and practical sessions for artists navigating Africa’s growing art ecosystem.

On 7 November, CANEX WKND 2026 will host a major concert bringing together artists from across Africa and the diaspora, before the programme continues into its final day on 8 November with cultural excursions, gastronomy activities, the CANEX Music Factory Songwriting Camp and the Legends Football Game.

Distributed by APO Group on behalf of Afreximbank.

 




 

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Coca-Cola system invests USD 1.22 million to strengthen water security in Namibia

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The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030

WINDHOEK, Namibia, November 5, 2026/APO Group/ –As Namibia continues to face recurring droughts and growing water demand, the country’s water resources are under increasing pressure. Windhoek is situated in one of the most water-stressed regions in sub-Saharan Africa, where low and unpredictable rainfall, combined with high evaporation rates, continues to challenge water availability and long-term water security.[1]

 




  

To help address these shared water challenges, the Coca-Cola system is investing USD 1.22 million in the //Gam-i Swakop Basin Resilience Project, designed to help strengthen water security and support ecosystem restoration in the Swakop River Basin, a vital water source for the city of Windhoek and surrounding communities.

The //Gam-i Swakop Basin Resilience Project aims to support improved water availability and help strengthen the resilience of the Swakop River Basin through nature-based solutions that support sustainable water resource management across the catchment area.

Implemented in collaboration with the Global Water Challenge (GWC) and World Wildlife Fund (WWF) Namibia, the project includes the construction of two sand storage dams, restoration of 235 hectares of land through the clearing of invasive alien plants, and the planting of 750 trees in river buffer zones and environmentally degraded areas within Windhoek’s informal settlements. In addition, two boreholes will be drilled to support groundwater recharge in the Windhoek aquifer, and a water resilience action plan has been developed.

Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities

This work forms part of the Coca-Cola system’s Africa Water Stewardship Initiative, launched in 2024. The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030.

“Because water challenges are local, our approach to water security is focused on local action and collaboration,” said Alfred Olajide, Vice President of East and Central Africa Operations at Coca‑Cola. “The Coca‑Cola system remains focused on helping to promote water stewardship, increasing water use efficiency, and treating and returning safe water to communities.”

Henry Friedrich, General Manager of Coca-Cola Namibia Bottling Company (CCNBC) added: “As part of the Coca-Cola Beverages Africa group, we have a responsibility to assist those who face water scarcity and to help protect local water resources where we operate, especially in places with the biggest challenges. Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities.”

WWF Namibia Country Director, Dr Juliane Zeidler, said: “Water is one of Namibia’s most precious and increasingly vulnerable resources. This project is an opportunity to demonstrate how investing in healthy ecosystems can deliver tangible benefits for people, while also helping communities become more resilient to future climate pressures. We hope the lessons and partnerships developed through this initiative can inform similar approaches elsewhere in the country.”

“Collaboration is essential to addressing shared water challenges effectively. Coca-Cola and its authorised bottlers continue to work with governments, businesses, and civil society organisations to design and implement strategic interventions,” concluded Olajide.


Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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‘Power, Protect, Purchase’: Africa Made It unveils blueprint to capture USD 34B in GDP and accelerate African industrial sovereignty

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Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit

African culture, design, and storytelling influence global fashion, music, and media like never before

LAGOS, Nigeria, November 5, 2026/APO Group/ –Africa Made It (https://AfricaMadeIt.co/), the continental movement driving Africa’s industrial sovereignty, today officially launched its campaign, “Power, Protect and Purchase,” at the CANEX weekend in Lagos, Nigeria. Aimed at unlocking USD 34 billion in annual GDP contribution through a structural transition from unprocessed raw cotton exports to end-to-end local garment processing, the initiative seeks to turn Africa’s vast natural wealth into sovereign, self-sustaining economic power.

 




  

Africa Made It is driven by a consortium of leading pan-African organisations, advocacy groups, and media organisations who are positioning Africa as a global investment hub. Its flagship campaign, spotlighting the fibre-to-fashion value chain, presents a clear roadmap for continental industrialisation: securing competitive energy power for local industrial mills, enacting policy measures to protect emerging domestic manufacturers from unfair foreign imports, and rallying African consumers to purchase locally manufactured apparel. Together, these three pillars ensure that value created from African resources remains on African soil.

 

Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit.  Building the continent’s domestic processing capacity in spinning, weaving, and sewing locally produced cotton will sustain nearly two million permanent industrial jobs and inject approximately USD 33 billion directly into domestic household incomes every year, in addition to a recurring contribution of USD 34 billion to the continent’s GDP.

 

While these figures reveal the immense macro-economic potential of the value chain, the true heart of this transformation lies in its human impact. Industrial wages and local lint purchases leading to increased capital circulation in rural communities can drive community micro-economic vitality and contribute to rural poverty reduction. Additionally, formal employment opportunities can expand drastically for women, as they currently make up between 70-90% of garment factory workers on the continent.

 

Realising this vision and changing the lives of millions of people requires a deliberate combination of targeted investments, supportive trade policies, and consumer mobilisation. A USD 1.8 billion capital allocation toward critical structural enablers for garment transformation is the foundation for bridging Africa’s missing middle in the fibre-to-fashion value chain.

 

Marie Wilke, editor-in-chief of the Africa Made It magazine, said, “African culture, design, and storytelling influence global fashion, music, and media like never before. Yet, without domestic manufacturing infrastructure, Africa’s creative authority yields very little economic return. Linking raw cotton harvest directly to local processing ensures that the intellectual property, commercial margins, and industrial jobs remain on the continent. It is time to wear our power.”

 

To learn more about the potential of Africa’s fibre to fashion value chain, watch the campaign video (https://apo-opa.co/4BKAIvY) or read the Africa Made it (https://apo-opa.co/4zvA5VF)magazine (https://apo-opa.co/4zvA5VF). Access the campaign website and resources in English (https://apo-opa.co/4zvA5VF) and French (https://apo-opa.co/4zrK8e2).

Distributed by APO Group on behalf of Africa Made It.

 

 




 

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