Mr. Arega’s previous roles include Regional Director for Sales & Services in the United States, among a range of positions since 2014 when he joined the airline as a college trainee

TORONTO, Canada, October 7, 2024/APO Group/ — 

The Canada-Africa Chamber of Business (www.CanadaAfrica.ca) is delighted to congratulate Mr. Samson Arega on his appointment as Group Vice President of Customer Experience at Ethiopian Airlines.

Mr. Arega’s previous roles include Area Manager in Canada, where he served as an active leader in The Canada-Africa Chamber of Business, including as keynote speaker at the Africa Accelerating 2021 (http://apo-opa.co/4eQ9MyD) conference opened by Prime Minister Justin Trudeau, among numerous high-profile engagements.

The year-on-year growth of Ethiopian Airlines reflects its ability to not just keep up with Africa’s growth potential – but to serve as a key driving force of Africa’s development

“Samson Arega’s leadership demonstrates why Ethiopian Airlines is crucial to not only Canada-Africa trade and investment, but is emblematic of the incredible success and potential within the African continent,” said Garreth Bloor, President of The Canada-Africa Chamber of Business.

Mr. Arega’s previous roles include Regional Director for Sales & Services in the United States, among a range of positions since 2014 when he joined the airline as a college trainee. Today, he holds a BA Degree in International Trade & Investment Management from Adama Science and Technology University, an MSc Degree in Integrated Marketing Management (IMC) from the University of Mississippi, USA, received a certification from the London Business School’s Leadership Excellence Programme and holds the Credential of Readiness Diploma from Harvard Business School, in Business Analytics, Economics for Managers, and Financial Accounting.

“Given Mr. Arega’s success and global leadership experience over the past decade, it is no wonder he has been recognized for his ability to drive transformative growth, elevate customer satisfaction, and steer complex operations in highly competitive markets,” added Bloor

“The year-on-year growth of Ethiopian Airlines reflects its ability to not just keep up with Africa’s growth potential – but to serve as a key driving force of Africa’s development and global trade” says Mr. Arega – a point he has made in addresses to international audiences. “This remains a vital reality, because Africa is the world’s future growth engine and Ethiopian Airlines is pleased to serve at the heart of this success story for not just Africa, but markets around the world,” he added, reflecting on his latest appointment.

Read More: http://apo-opa.co/4eMI6ex

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

Angola’s Minister of Mineral Resources, Oil and Gas Diamantino Azevedo discussed the potential for the country’s oil and gas resources to drive diversification and socioeconomic development in the country

LUANDA, Angola, October 4, 2024/APO Group/ — 

As one of Africa’s leading oil producers, boasting an impressive output of over 1.1 million barrels of oil per day, Angola has garnered a reputation as an easily accessible and attractive investment destination. The country has continued to attract investment for new exploration from global major players such as TotalEnergies, ExxonMobil, Chevron and Azule Energy.

As such, Angola’s Minister of Mineral Resources, Oil and Gas Diamantino Azevedo discussed the country’s achievements and aspiration during a fireside chat at the Angola Oil & Gas 2024 conference. Sponsored by Angolan service company Angola Environmental Serviços, the fireside chat presented an opportunity for the minister to discuss the value of Angola’s resources, how the country aims to stabilize production and boost local capacity building.

“When we explore natural resources, we aim to use them to transform society and contribute towards improving life in Angola,” Minister Azevedo stated, adding, “That’s why it’s important to speak not only in terms of how many million barrels we produce, but to speak on the impact on the living conditions of the population.”

Attention in Angola’s oil and gas sector is not only on current developments but future projects. With an energy sector ripe for investment, the country continues to streamline its investment process, making it straightforward for potential investors. These opportunities transcend traditional oil and gas, with the country’s renewable market enticing players as well.

It’s important to speak not only in terms of how many million barrels we produce, but to speak on the impact on the living conditions of the population

“We have drafted a new strategy for working towards seeking natural resources. The geological surveying is a continuous process. As long as there is a possibility of us discovering natural resources, we have to continue working,” the Minister added.

Meanwhile, in the local content space, demand for drilling and oilfield services, detailed engineering, procurement, technical construction and pre-fabrication and assembly is poised to boost the participation of local companies in the country’s oil and gas sector. To support efforts to maintain production above one million barrels beyond 2027, Angola has been promoting investment in the upstream sector, which is projected to grow by 15% between 2022 and 2027.

As such, the fireside chat directly addressed the methods of navigating Angola’s regulatory landscape, how companies can leverage innovative financing mechanisms and strategies for enhancing competitiveness in Angolan oil and gas.

“We have introduced new methodologies like the permanent offer of blocks and now we have approved a new procedure, and all this has brought new opportunities for investors. The extraction sector will always be the engine of diversification in our country’s economy,” the Minister concluded.

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

Afentra, Trafigura and the Africa Finance Corporation discussed strategies for securing financing to enable independents to acquire and develop Angola’s mature fields during Day 2 of Angola Oil & Gas 2024

LUANDA, Angola, October 4, 2024/APO Group/ — 

Independent energy firm Afentra expressed interest in partnering with local oil and gas firms to acquire mature assets in Angola during a panel at the Angola Oil & Gas 2024 conference on October 3.

Sponsored by multinational commodities company Trafigura, the panel – Strategic Partnerships: Financing Upstream Oil Operations – discussed the evolution of Angola’s upstream sector amid efforts to revitalize production from mature fields. Moderated by Elmano Costa, Senior Lawyer at Morais Leitão Legal Circle, the session explored the growing role of independent players in driving project developments and maximizing oil production.

Earlier this year, Afentra completed the acquisition of 12% and 16% non-operating interests in offshore Blocks 3/05 and 3/05A, respectively, from Azule Energy. The company worked closely with Trafigura to mobilize $100 million toward the acquisition, along with leveraging existing debt facilities and cash flow from its balance sheet

“We see great opportunities to acquire mature assets in Angola, reduce emissions from those assets and further develop them,” said Paul McDade, CEO of Afentra, adding, “We anticipate more large companies divesting in the future, with independents stepping in to acquire mature fields. We aim to continue working alongside Angolan companies, combining efforts to secure additional assets. The challenge lies in convincing investors to finance these projects.”

We select projects in Angola based on their commitment to reducing emissions and reinjecting associated gas

“Having the big players sell to independents is the future. It doesn’t make sense for TotalEnergies or Chevron to hold onto mature fields with declining production, so it’s a natural cycle to sell them to independent players, and Trafigura provides them with financial protection,” added Matthieu Milandri, Head of Upstream Finance at Trafigura, who worked closely with Afentra on the acquisition.

Taiwo Okwor, Vice President of Investment at the Africa Finance Corporation (AFC), emphasized the role sustainability and emissions reduction in securing funding for Angolan projects, as well as the importance of integrated oil and gas projects with strong infrastructure components.

“We select projects in Angola based on their commitment to reducing emissions and reinjecting associated gas. We provide capital, but closely monitor emissions and explore sustainable financing options,” said Okwor, adding, “Connecting infrastructure makes a project more bankable and attractive to financiers.”

Trafigura is involved in the funding of several large-scale projects in Angola, including the 60,000-barrel-per-day Cabinda Refinery, whose first phase is set to come online in 2025, and the Lobito Railway Corridor, which links Zambia and the Democratic Republic of Congo to the Port of Lobito to enable the export of copper, cobalt and other critical minerals.

“Building large-scale infrastructure projects is a lengthy and expensive undertaking for a country. Our role, alongside other partners like banks, is to provide expertise and security to make these projects viable,” said Milandri.

“The goal of these infrastructure projects is to boost regional trade and connect Angola to southern Africa. Ultimately, we want to close the infrastructure deficit and bridge the economic gap in the region,” concluded Okwor.

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