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Applications Open for 2023 Africa’s Business Heroes Prize Competition

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Africa’s Business Heroes

Now in its fifth year, the competition offers a unique opportunity for African entrepreneurs to highlight their talent and make a bigger impact on the community through their businesses

KIGALI, Rwanda, March 6, 2023/APO Group/ — 

The “Africa’s Business Heroes” (ABH) (https://www.AfricaBusinessHeroes.org) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has launched its fifth annual edition and now calls for participation from Africa’s entrepreneurial talent.

ABH is part of the Jack Ma Foundation’s long-term commitment to helping support and foster an inclusive and strong entrepreneurial ecosystem in Africa. Every year since 2019, ABH conducts a continent-wide search with its partners for 10 outstanding, mission-driven entrepreneurs that are striving to make a difference in their local communities. Over a 10-year period, ABH will recognize a total of 100 African entrepreneurs.  

Zahra Baitie-Boateng, Head of Partnerships & Programs of ABH, said: “At ABH, we have long recognized the potential of entrepreneurs as engines of economic and social growth. Now in the fifth year of the competition, we are encouraged to see that ABH has grown into a truly Pan-African initiative that is positively impacting the continent’s entrepreneurship landscape. We are extremely impressed with the increasing diversity of our Heroes and how they’ve been taking tangible steps to solve some of Africa’s most challenging issues. We encourage entrepreneurs from all countries, especially those from smaller countries, to seize the opportunity of ABH 2023 to tell and inspire millions more with their unique stories.”

The ABH Prize Competition is Pan-African, inclusive, sector-agnostic and grassroots-oriented. Entrepreneurs from all 54 African countries, across every sector, gender and age group and all levels of society, are encouraged to submit their applications, in either English or French, for a chance to become one of the top 10 finalists to compete for a share of US$1.5 million in grant money.

At the Grand Finale to be held later this year, the 10 finalists will take the stage to present their businesses to a panel of legendary business people. The journey to the finale will also include access to a community of international business leaders and innovators, industry experts, investors and accelerators, as well as multi-disciplinary bootcamps and training sessions to help the participating entrepreneurs take their businesses to the next level.

This year, ABH will be hosting in-person information sessions across the continent during the application period to facilitate the application process for interested entrepreneurs

Apart from grant, mentorship and networking opportunities, ABH creates a television show every year which follows the finalists of the previous year on their exciting journey to the Grand Finale, featuring their on-stage pitches as well as behind-the-scenes moments. The ABH Show aims to provide a masterclass in entrepreneurship, as audiences can see first-hand how Africa’s top entrepreneurs refined their final pitches and faced challenging questions from the judges. The upcoming edition of the ABH Show will be in shorter episodes, and released on ABH’s official YouTube channel (https://apo-opa.info/3ZfzhC1) and ABH’s social media platforms from March 2023 onwards. A combined longer version will be launched at CNBC, StarTimes and Vox Africa later this year.

To date, over 72,000 entrepreneurs across the continent have participated in the ABH Prize Competition. The 10 outstanding finalists for 2022 (https://apo-opa.info/3F0XjIZ) were chosen from over 21,000 applicants from 54 African countries, representing a broad spectrum of industries including agriculture, consulting, energy environmental protection, healthcare, information and communication technology (ICT), and retail.

Elia Timotheo, Founder and CEO of East Africa Fruits Co. and the 2022 ABH first prize winner, said: “My business represents my philosophy and my values, and I am thrilled that East Africa Fruits was recognized on the prestigious ABH platform. ABH has given homegrown African businesses like mine a tremendous opportunity to access learning and networking opportunities and benefit from media support. I hope that my story will inspire other entrepreneurs to feel that they too have the potential to make a difference and be part of ABH’s start-up community.”

Today, East Africa Fruits is the leading data and tech-driven food distribution company in Tanzania. The company serves more than 7,000 customers daily and works with more than 10,000 farmers from around the country, with a commitment to bridging the tech gap for smallholder farmers.

This year, ABH will be hosting in-person information sessions across the continent during the application period to facilitate the application process for interested entrepreneurs. Sessions will be held in Ethiopia, Ghana, Côte d’Ivoire, Kenya, Morocco, Nigeria, Senegal, South Africa and Uganda in partnership with various local entrepreneur organizations and ABH local connect leads. Details will be shared via ABH’s social media accounts and newsletter.

A pivotal part of ABH’s success is its wide-ranging partnerships with key ecosystem partners. As with previous years, ABH will be partnering with several organizations to drive the call for applications, support African entrepreneurs and to spotlight their inspiring work. The 2023 Anchor partners are  Afrilabs, RiseUp (https://RiseUp.co/), SA Innovation Summit (https://InnovationSummit.co.za/), The Room (https://www.TheRoom.com/) – an initiative of African Leadership Group and VC4A (https://VC4A.com/). Channel partners include African Management Institute (AMI) (https://www.AfricanManagers.org/), AfterSchool Africa (https://www.AfterSchoolAfrica.com/), Anzisha Prize (https://apo-opa.info/3IS4p3E), Briter Bridges (https://BriterBridges.com/), Disrupt Africa (https://Disrupt-Africa.com/), Haske Ventures (https://www.HaskeVentures.com/), Moroccan Center for Innovation and Social Entrepreneurship (MCISE) (http://www.MCISE.org/), MEST Africa (https://apo-opa.info/3IQVAXD), Pariti (https://www.Pariti.io/) and Seedstars (https://apo-opa.info/3ZKfoCV). For organizations interested in joining the ABH Partner network, sign up here (https://apo-opa.info/3SOKI1d).

Applications are now open online until May 12, 2023, with the top 50 candidates announced in July, semi-finalists announced in August and the top 10 finalists unveiled in September.

To apply and for more information about ABH 2023, please visit: https://apo-opa.info/41MUCo0 and follow ABH on Twitter (https://apo-opa.info/3KY3OQs), LinkedIn (https://apo-opa.info/3L1Cgda), Instagram (https://apo-opa.info/3KZTXKa), Facebook (https://apo-opa.info/3ylgNE9) and YouTube (https://apo-opa.info/3YDG5bH).

Distributed by APO Group on behalf of Africa’s Business Hero

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Golar Liquefied Natural Gas (LNG),Chief Commercial Officer (CCO) Joins Invest in African Energy (IAE) 2025 Speaker Lineup

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Liquefied Natural Gas

Federico Petersen, Chief Commercial Officer of Golar LNG, will share his expertise on the future of LNG in Africa and the role of floating LNG solutions in driving the continent’s energy transformation at the Invest in African Energy Forum in Paris next month

PARIS, France, April 25, 2025/APO Group/ –Federico Petersen, Chief Commercial Officer (CCO) of Golar LNG, will join the upcoming Invest in African Energy (IAE) 2025 Forum in Paris to discuss scaling LNG in Africa, overcoming infrastructure challenges and attracting investment. With Africa rapidly expanding its gas infrastructure, Petersen’s insights are expected to showcase how innovative LNG solutions can support sustainable energy growth across the continent.

As a global leader in floating LNG (FLNG) solutions, Golar LNG is advancing gas monetization across Africa. The company is actively involved in several key projects, including the Hilli Episeyo FLNG facility off the coast of Cameroon, operational since 2018, which plays a crucial role in unlocking regional gas resources with cost-effective, scalable LNG production. Golar LNG is also a key player in the Greater Tortue Ahmeyim project offshore Senegal and Mauritania, where it owns and operates the Gimi FLNG, which received its first feed gas in January 2025, marking a major milestone in LNG export operations.

IAE 2025 (https://apo-opa.co/3ECl25bis an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Additionally, Golar LNG is exploring further opportunities across the continent, including ventures in the Republic of Congo and Nigeria. In June 2024, the company signed an agreement with the Nigerian National Petroleum Corporation to deploy an FLNG vessel in the Niger Delta, utilizing 500 million cubic feet of gas per day to generate LNG, propane and condensate, with a final investment decision expected later this year.

The growth of LNG in Africa is set to accelerate in the coming years as key markets seek to tap into their vast natural gas reserves. As such, Petersen’s participation at IAE 2025 is poised to showcase the pivotal role of FLNG in enhancing energy security, driving economic growth and fostering regional cooperation.

As the global energy landscape shifts toward cleaner, more sustainable sources, LNG will remain crucial in powering Africa’s future, offering a reliable transition fuel to support the continent’s ambitious energy goals. With IAE 2025 as a platform for high-level dialogue and partnerships, the forum will provide an invaluable opportunity for stakeholders to explore the latest LNG developments, deepen collaboration and drive investments that will shape the future of African energy.

Distributed by APO Group on behalf of Energy Capital & Power

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VFD Group Plc Reports Remarkable Growth in Audited Financial Statement for 2024 Financial Year

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Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023

LAGOS, Nigeria, April 25, 2025/APO Group/ –In a stunning turnaround, VFD Group Plc (https://VFDGroup.com), a proprietary Investment firm, has announced its audited financial results for the year ended December 31, 2024, showcasing exceptional growth. The journey to this milestone was paved with strategic initiatives and a relentless pursuit of innovation.

Just a year ago, businesses globally struggled with macroeconomic headwinds, and VFD Group, not an exception, reported a pre-tax loss of N1 billion in 2023. However, the team’s dedication and forward-thinking approach yielded impressive results. The Group reported a pre-tax profit of N11.2 billion, representing a 1202% year-on-year growth.

Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023. Net revenue increased by 90% to N71.0 billion, while operating profit grew by an impressive 104% to N48.8 billion.

The company’s financial performance was nothing short of remarkable, with notable achievements including:

– Investment and similar income: N74.6 billion, up 98% YoY

– Net investment income: N59.0 billion, up 95% YoY

– Net revenue: N71.0 billion, up 90% YoY

– Operating profit: N48.8 billion, up 104% YoY

– Pre-tax profit: N11.2 billion, a significant turnaround from a N1 billion loss in 2023

As of April 22, 2025, VFD Group’s market capitalisation surged by 116% to hit N121.6 billion from N56.2 billion year to date.

These outstanding results reflect the success of our team’s efforts. As VFD Group looks to the future, it remains committed to delivering exceptional value to its customers and stakeholders.

Distributed by APO Group on behalf of VFD Group Plc.

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African Energy Chamber (AEC) Champions Smart Policy, Strategic Partnerships to Advance Namibia’s Oil & Gas Discoveries

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The African Energy Chamber is a strategic partner of the Namibia International Energy Conference, which kicked off today in Windhoek

WINDHOEK, Namibia, April 24, 2025/APO Group/ –As a strategic partner of the Namibia International Energy Conference (NIEC), the African Energy Chamber (AEC) (www.EnergyChamber.org) is calling for a deliberate and accelerated approach to moving Namibia’s recent oil and gas discoveries into production – emphasizing the importance of speed, investor confidence and strategic collaboration.

Speaking during a high-level panel at NIEC 2025, AEC Executive Chairman NJ Ayuk urged Namibia to seize the momentum of its frontier discoveries, while avoiding the pitfalls that have stalled progress in other hydrocarbon-rich African nations. He emphasized that Namibia’s path to becoming a regional energy hub hinges on its ability to learn from international case studies and execute deals that ensure long-term national benefit.

“Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries,” Ayuk stated. He pointed to Guyana as a prime example, noting how the South American country developed a robust strategy focused on national benefit and successfully attracted billions in investments to fast-track its energy projects.

Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries

In contrast, Ayuk cautioned against the delays experienced by countries like Mozambique, Tanzania, Uganda and South Africa, where production was significantly postponed, leading to rising project costs and lost opportunities. “There is a growing movement trying to discourage Africa – and Namibia – from producing its oil and gas. We must resist that,” he added.

Reinforcing the need for investor-friendly terms, Justin Cochrane, Africa Upstream Regional Research Director at S&P Global Commodity Insights, highlighted the necessity of contract stability, transparent data-sharing and a balanced approach to fiscal negotiations. “It’s natural that Namibia wants to maximize its benefits, but pushing too hard on IOCs can result in getting 100% of nothing… The first milestone must be achieving first oil,” said Cochrane.

Representing Namibia’s national oil company, Victoria Sibeya, Interim Managing Director of NAMCOR, stressed that the company is actively engaged in every phase of the industry, from data acquisition and exploration to shaping the downstream and midstream vision. “We are not just bystanders,” said Sibeya. “NAMCOR is deeply involved in data acquisition, exploration and the exchange of knowledge and technology with our partners. We are also preparing to invest in downstream and midstream sectors to ensure that we can add value once production begins.”

Echoing the call for local development, Adriano Bastos, Head of Upstream at Galp, underscored the need for early and continuous skills development – proposing that Namibians be trained abroad in specialized areas like FPSO operations to ensure they are prepared to lead once production begins at home. “Namibia has capabilities that are rare in the region, but more collaboration with international partners is essential to build the local skills base,” he said.

Bastos noted that Namibians make up 25% of Galp’s workforce in the country, including its first female offshore base manager. “We are proud of the strides we have made. Our nationalization plans are aggressive, and we work closely with [the Namibian Ports Authority] and other local entities to implement meaningful capacity-building projects.”

As Namibia stands on the cusp of transforming exploration success into production, the message from industry leaders is clear: time, trust and talent will determine the country’s trajectory. Through cross-border collaboration, pragmatic deal-making and a strong national vision, Namibia can emerge not just as an oil producer – but as a continental model for inclusive, forward-thinking energy development.

Distributed by APO Group on behalf of African Energy Chamber

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