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Any Successful African Energy Policy at Conference of the Parties (COP) or Anywhere Must Have Oil and Gas at its Core (By NJ Ayuk)

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Conference of the Parties

Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels

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JOHANNESBURG, South Africa, November 21, 2024/APO Group/ — 

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

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders.

To begin with, I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals.

This will be particularly important in COP29 in Baku. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

I would encourage African leaders to talk about the need for financing, as well, to make it possible for us to adopt renewable energy sources and set up the necessary infrastructure. Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels.

Africa’s governments have a role to play in a successful African energy movement as well.

Because Africa’s energy industry still can benefit greatly from the presence of international oil companies, our government leaders need to approve contracts with oil and gas companies promptly instead of allowing red tape to delay projects after discoveries are made.

And, they need to offer the kinds of fiscal policies that allow oil companies to operate profitably in Africa. In turn, that will help those companies generate revenue, create jobs and business opportunities, and foster capacity building.

I also would encourage governments and civil societies to reward companies that exemplify positive behavior. Let’s incentivize the kind of activities we want, from creating good jobs and training opportunities to sharing knowledge.

I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals

And there’s more.

We in Africa must work together to create more opportunities for women to build careers in the oil and gas industry at all levels. Our energy industry can’t reach its potential to do good when half of our population is left out. Our progress on behalf of women has not been great—We need to do better, and we need to act quickly.

How the world can support

Now, I mean it when I say Africans are responsible for building the future they want. But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Please understand that with the war in Ukraine, the energy crisis in Europe, and the energy poverty facing our continent, our countries, like many others, are simply choosing the paths they believe are most likely to help their people.

You know, people for years have accused me of loving oil and gas companies more than Africa. The opposite is true. In my frequent travels around the continent, I’ve observed far too many young people with little in the way of opportunities.

I know our young people have aspirations for a better future. I know they have big dreams. And, I know that future is nearly within their grasp.

A thriving, strategically managed energy industry can make it possible for many of these young people, whether it leads to good jobs or it fosters the kind of economic growth that creates jobs in other fields. Even if we only get the lights on in their communities, we’ll be giving our young people hope and improving their chances of realizing their goals.

This is what drives me, the idea that with our ongoing efforts and determination, our young people can realize meaningful opportunities. I encourage each of you to work with us at the African Energy Chamber, in a spirit of cooperation and mutual respect. Together, we can build the kind of African energy movement that our continent, our communities, and our young people need and deserve.

Distributed by APO Group on behalf of African Energy Chamber.

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Global Mayors Dialogue in Wuhan focuses on urban innovation and cooperation

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September 24, 2026

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WUHAN, CHINA – Media OutReach Newswire – 23 September 2026 – The Global Mayors Dialogue · Wuhan and the 2026 Wuhan International Friendship Cities Cooperation Conference, held from Sept. 18 to 21, brought together 80 international guests from 24 cities across 22 countries, according to organizers.

At the event, mayors and city representatives from six international sister cities of Wuhan called for closer cooperation in technology, industry, education and culture.

Representatives from Manchester in Britain, Kemi in Finland, Cape Town in South Africa, Yangon in Myanmar, Rzeszów in Poland and Turkistan in Kazakhstan took part in discussions on urban innovation, industrial cooperation and cultural exchange.
 




 
Manchester: a new start after 40 years of friendship

This year marks the 40th anniversary of the sister-city relationship between Wuhan and Manchester.

Shaukat Ali, lord mayor of Manchester, said the city was ready to deepen cooperation with Wuhan in education, culture, youth affairs, innovation and industry.

“Manchester is committed to promoting urban transformation through open cooperation, sharing opportunities, and fostering common development with international sister cities like Wuhan,” he said.

Ali said Manchester had developed from a post-industrial city into an innovation-oriented economy, with a focus on advanced manufacturing, artificial intelligence, life sciences and green technologies.

He said the two cities could share experience in urban transformation, innovation districts, university-industry cooperation and low-carbon development, while encouraging links among universities, businesses and research institutions.

He also highlighted existing educational and cultural links, including cooperation between Hubei University and Manchester Metropolitan University and exchanges between the Royal Northern College of Music and Wuhan Conservatory of Music.

Kemi: balancing growth with environmental protection

Mikko Koivulehto, chairman of the City Council of Kemi, said the Finnish city sought to balance economic growth with environmental protection.

“We believe that protecting nature and building a prosperous city can go hand in hand,” he said.

Kemi, a port city in Finnish Lapland, has developed industries based on renewable raw materials, clean energy and the bioeconomy. The city is also seeking to expand tourism and improve livability.

This year marks the 10th anniversary of the friendly exchange relationship between Wuhan and Kemi. The two cities have cooperated in areas including trade, the circular economy, tourism and youth exchanges.

Cape Town: technology and jobs key to urban transformation

Lungelo Mbandazayo, city manager of Cape Town, said technological innovation, talent development, infrastructure and green renewal were key to Wuhan’s transformation.

Cape Town, a UNESCO City of Design, is seeking to expand its technology and digital sectors while promoting green technology and an inclusive economy.

Mbandazayo said youth unemployment remained a major challenge for Cape Town and that technological development needed to create jobs.

After visiting Wuhan companies and technology facilities, he said Cape Town hoped to deepen exchanges with Wuhan in technology and talent.

Yangon: seeking practical cooperation with Wuhan

Yangon Mayor Myo Myint Aung said the city was looking to Wuhan for experience in smart-city development, digital governance, intelligent transport and urban resilience.

Wuhan and Yangon signed a letter of intent on friendly exchanges and cooperation during the event.

Yangon is developing a long-term plan to accommodate population growth and expand its urban, industrial and transport infrastructure.

During a visit to Wuhan on Sept. 19, Myo toured the Optics Valley “Photon” suspended monorail, HGTECH and a Xiaomi smart home appliance factory.

“We came to Wuhan not just to observe, but to learn and cooperate,” he said, adding that Yangon hoped to develop smart manufacturing and strengthen cooperation in information technology.

Rzeszów: opportunities in aerospace and technology

Rzeszów Mayor Konrad Fijołek said the Polish city hoped to cooperate with Wuhan in aerospace, sensor technology, biodiversity and climate action.

Rzeszów is home to the “Aviation Valley,” a major aerospace cluster in Central Europe.

“Exploring cooperation with Wuhan is the reason I came here,” Fijołek said.

After visiting HGTECH and a Xiaomi smart home appliance factory, he said Wuhan’s automated manufacturing and technologies in sensors and satellite systems had impressed him.

He said cities could help connect universities, businesses and research institutions and promote international cooperation.

Turkistan: five areas for cooperation

Turkestan Mayor Azimbek Pazylbekuly said his city hoped to expand cooperation with Wuhan in tourism and culture, education and science, investment and entrepreneurship, digitalization and innovation, and transport and logistics.

Wuhan and Turkistan signed a memorandum of intent on friendly exchanges and cooperation during the event.

Turkistan, an ancient Silk Road city and a UNESCO World Heritage site, has been developing industries including food processing, textiles, furniture and construction materials.

Pazylbekuly said cooperation between governments, businesses, universities and research institutions could help turn the two cities’ exchanges into concrete projects.

The conference also included friendship-city anniversary celebrations and a signing ceremony for 10 cooperation projects. A digital list of cooperation opportunities and an initiative on international friendship-city cooperation were released.

During their stay, the visiting mayors toured Wuhan’s technology, manufacturing and ecological facilities, including the Optics Valley suspended monorail, a Yangtze finless porpoise conservation center, Xiaomi, HGTECH and Dongfeng Motor facilities.
  




 

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Binance Invests $100 Million in Circle, Expands Strategic Partnership and Renews for Five Years

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September 24, 2026

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New five-year agreement focuses on promotion of USDC globally

JOHANNESBURG, South Africa, September 23, 2026/APO Group/ –Binance (www.Binance.com) today announced a $100 million equity investment in Circle Internet Group, Inc. (NYSE: CRCL) and the expansion and renewal of its strategic partnership to promote USDC across Binance’s global platform. The new arrangement has a term of five years.

Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products

Under the expanded partnership, Binance will promote USDC across its global platform, especially in emerging markets. Circle will provide the infrastructure services that support holding and using USDC.

 




  

In connection with the partnership, Binance purchased $100 million worth of shares of Circle Class A common stock, through a private placement at a purchase price reflecting a five percent discount to the market price of CRCL prior to closing.

“Circle has earned its place as one of the most credible issuers in the world spanning USDC, Arc and the infrastructure reshaping how value moves across borders. Our $100 million investment and five-year commitment represent long-duration conviction,” said Richard Teng, co-CEO of Binance. “We are helping to build a more inclusive, transparent, and compliant digital economy. A stable, trusted digital dollar should not be a privilege–it should be available to anyone with a phone. That’s the future this partnership is designed to deliver.”

“Binance has built one of the largest and most dynamic platforms in the world for using digital currency, creating the internet’s largest financial super app, and becoming the most widely used wallets in the world for dollar stablecoins,” said Jeremy Allaire, Co-founder, Chairman and CEO of Circle. “Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products, and reach people and businesses throughout global emerging markets.”

Distributed by APO Group on behalf of Binance.

 

 




 

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Africa Finance Corporation (AFC) Supports Successful Close of ₦729 Billion Series 2 Bonds to Advance Nigeria’s Power Sector Reforms

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September 24, 2026

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Working in partnership with CardinalStone Partners as co-Financial Advisers, the transaction reflects AFC’s deep local market expertise and its continued commitment to delivering complex, high-impact policy advice and financial solutions that catalyse sector-wide reform

ABUJA, Nigeria, September 23, 2026/APO Group/ –Africa Finance Corporation (AFC) (https://www.AfricaFC.org/), the continent’s leading infrastructure solutions provider, today announced its critical role as Co-Financial Adviser on the successful close of the ₦728.9 billion Series 2 power sector bond transaction by NBET Finance Company Plc, under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The programme is designed to resolve over a decade of legacy debt obligations within the Nigerian electricity supply industry.

 




  

This issuance follows the ₦501 billion inaugural Series 1 transaction completed in January 2026, where AFC played the same role of Co-Financial Adviser. The Series 2 close, which brings the cumulative issuance under the Programme to approximately ₦1.23 trillion, marks a significant milestone in the implementation of the ₦4 trillion Power Sector Multi-Instrument Issuance Programme..

The Presidential Power Sector Debt Reduction Committee (PPSDRC) oversees the Programme, with the Office of the Special Adviser to the President on Power provides technical leadership, implementing through the Nigerian Bulk Electricity Trading Plc (NBET)’s special purpose vehicle, NBET Finance Company Plc. Proceeds from the Series 2 issuance will continue to enable the process of settling verified, overdue receivables owed to Power Generation Companies (GenCos) for electricity supplied between February 2015 and March 2025, further extinguishing legacy claims and injecting liquidity into the electricity industry.

Closing the second issuance within eight months of the inaugural series shows the Programme is working as designed

Building on its critical role in Series 1, AFC provided comprehensive financial advisory services to the Federal Government of Nigeria on the Series 2 transaction, including support in negotiating and executing Settlement Agreements with additional GenCos, structuring of the Series 2 cash and non-cash tranches, and investor engagement ahead of the offer. Working in partnership with CardinalStone Partners as co-Financial Advisers, the transaction reflects AFC’s deep local market expertise and its continued commitment to delivering complex, high-impact policy advice and financial solutions that catalyse sector-wide reform.

Banji Fehintola, Executive Board Member and Head, Financial Services at Africa Finance Corporation, said, “Closing the second issuance within eight months of the inaugural series shows the Programme is working as designed- verified legacy obligations are being converted into transparent, investable instruments, and domestic investors are backing that approach. AFC is proud to continue supporting the Federal Government in delivering reforms that restore liquidity to the power sector and lay the foundation for new investment into Nigeria’s generation capacity.”

The Series 2 transaction comes on the back of the full and timely payment of the first coupon and principal instalment on the Series 1 Bonds in July 2026, demonstrating the Federal Government’s commitment to honouring its obligations under the Programme and reinforcing the credibility of the capital-markets approach to resolving legacy sector debt. The issuance, which was oversubscribed, attracted strong demand from pension fund administrators, banks, sovereign wealth funds and asset managers, further mobilising domestic long-term capital for critical electricity infrastructure in Nigeria.

When completed, the Programme will impact approximately 5,398MW of electricity generation capacity by Nigerian GenCos, effectively finalising settlement of payments for 290,644.84GWhr of electricity billed since February 2015 and providing a strong foundation for new investments into capacity enhancement and expansion by companies serving 12 million active registered customers across the country.

Mr. Akin Odeyemi, Managing Director/Chief Executive Officer, Nigerian Bulk Electricity Trading (NBET) Plc. said, “For too long, verified receivables have sat on GenCos’ balance sheets, limiting their ability to pay gas suppliers, maintain plants and invest in new capacity. With Series 2, we are turning more of those arrears into liquidity across the electricity value chain. We thank our investors, the participating GenCos, our advisers and the regulatory authorities whose support made this issuance possible.”

Nigeria’s Presidential Power Sector Financial Reforms Programme forms a fundamental aspect of the energy sector reforms by the government, alongside significant ongoing investments in consumer metering and transmission infrastructure, and a transition to bilateral electricity trading between wholesale counterparties based on market-reflective pricing. Together, these reforms are aimed at ensuring the evolution of a viable and sustainable electricity market in Nigeria to support long-term industrial growth and development.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

 




 

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