Connect with us
Anglostratits

Business

Benedict Peters and Aiteo Group: Defining an African Energy Champion

Published

on

African Energy Chamber

As an entrepreneur turned industry leader, Benedict Peters has built Aiteo into Africa’s largest indigenous energy company – expanding from Nigerian oil production to continental gas ventures and downstream infrastructure

JOHANNESBURG, South Africa, February 4, 2026/APO Group/ –Benedict Peters is one of the most influential figures in Africa’s oil and gas sector. As Founder and CEO of the Aiteo Group, he has transformed a homegrown petroleum trading company into one of the continent’s largest indigenous energy firms, navigating complex markets, strategic acquisitions and an expanding portfolio that now stretches beyond Nigeria.

 

A Vision Beyond Trading

 

Peters began his career in Nigeria’s energy sector with Ocean and Oil Services (now Oando) and MRS Oil & Gas, rising to Managing Director. These early roles provided him with hands-on experience across petroleum supply chains and operational management, laying the groundwork for his entrepreneurial leap. In 1999, he founded Sigmund Communecci, initially focused on petroleum products supply and trading. Over the next decade, the company grew into one of Nigeria’s largest operators of tank farms and storage infrastructure, with more than 250 million liters of capacity.

 

In 2008, Sigmund Communecci was rebranded as Aiteo Group, signaling a shift toward a fully integrated energy company with upstream ambitions.  Under Peters’ leadership, Aiteo now operates across the energy value chain – from production and transportation to distribution and power generation. Its most prominent asset is the NNPC-Aiteo Oil Mining Lease (OML) 29, which includes 11 oil and gas fields in Nigeria’s Niger Delta, including the historic Oloibiri field. After acquiring OML 29 and the Nembe Creek Trunk Line (NCTL) from Shell in 2015, Aiteo increased production from around 25,000 barrels per day (bpd) to roughly 90,000 bpd within a year, despite challenges from infrastructure damage and oil theft.

 

From Petroleum Marketing to Core Production

 

Aiteo’s marketing operations remain a cornerstone of the business. The company distributes gasoline, diesel, aviation fuel, kerosene and LPG through an extensive network of service stations and independent partners. This segment ensures steady revenue and maintains the company’s presence across Nigeria.

 

The company’s ambitions soon expanded beyond trading. The acquisition of OML 29 and the NCTL gave Aiteo control over significant upstream assets, forming the backbone of its production operations. Over subsequent years, production increased steadily, contributing nearly 100,000 bpd to Nigeria’s total crude output, or roughly five percent of national production.

 

Nembe Crude: A New Grade on the Global Stage

 

Under Peters’ guidance, Aiteo introduced Nembe crude, a low-sulfur, high-API gravity grade developed with the NNPC. Launched in 2023–2024, Nembe crude has been exported to refiners in Europe, marking the first time a crude grade developed and marketed primarily by Nigerian entities entered the global market.

 

The introduction of Nembe crude highlights Aiteo’s strategic focus: optimizing production assets for both domestic use and export, and demonstrating the commercial viability of indigenous Nigerian energy companies on the global stage.

Benedict Peters is all in on African energy development and prosperity for Africans

 

Operational Resilience in the Niger Delta

 

Operating in the Niger Delta presents significant challenges. Aiteo has faced infrastructure disruptions, oil theft and security-related production losses. In mid-2024, production resumed at the Nembe field following a major leak, reflecting the company’s focus on operational continuity, safety and infrastructure maintenance. These episodes underline the complexity of upstream operations in Nigeria and Aiteo’s approach to mitigating risk through infrastructure upgrades, security protocols and contingency planning.

 

Expanding Across Africa

 

While Nigeria remains central to Aiteo’s operations, Peters has pursued a pan-African strategy. The company acquired a stake in the Mazenga gas block in Mozambique, one of sub-Saharan Africa’s largest onshore gas reserves, estimated at 19 trillion cubic feet. Geological surveys and field evaluations are underway, reflecting a measured approach to developing new regional energy assets.

 

In July 2025, Aiteo signed a deal with the Government of Mozambique and state-owned Petromoc to develop a large-scale refinery capable of processing 240,000 bpd. The project aims to reduce Mozambique’s reliance on imported refined products and support regional energy distribution, representing a strategic expansion into downstream infrastructure.

 

Gas and Power Initiatives

 

Complementing its upstream and midstream operations, Aiteo is investing in gas processing and power generation. Through Aiteo Power, the company is developing gas-fed power plants in resource-rich regions of Nigeria, aiming to increase electricity supply for industrial and residential use. These initiatives reflect a broader strategy to diversify energy assets and support local economic development.

 

Recognition and Continental Ambitions

 

Peters’ leadership has earned international recognition, including being named Africa’s Oil and Gas Leader of the Year at the Forbes Best of Africa Gala in 2018, a testament to his role in building indigenous capacity within the energy sector. Under his guidance, Aiteo has followed a deliberate, strategic approach to becoming a fully integrated African energy company, balancing upstream production, downstream distribution, gas development and power generation. Today, the company produces nearly 100,000 barrels per day from its core Nigerian assets, while its Mozambican gas and downstream initiatives reflect its broader continental ambitions. Peters continues to prioritize measured expansion, infrastructure reliability, and long-term sector development, demonstrating that indigenous African enterprise can compete effectively with global majors.

 

“Benedict Peters is all in on African energy development and prosperity for Africans. For him and Aiteo, empowering the continent through sustainable energy development has been a lifelong commitment,” says NJ Ayuk, Executive Chairman, African Energy Chamber, adding “A true representation of Rudyard Kipling’s ‘If,’ Benedict Peters underscores the idea that even in positions of power, he does not lose touch with his common roots. He is a leader who can walk with kings without losing the common touch.”

 

Distributed by APO Group on behalf of African Energy Chamber.

Energy

U.S.-Africa Energy & Minerals Forum Expands to Critical Minerals and Supply Chain Security

Published

on

Africa

This year’s U.S.-Africa Energy & Minerals Forum in Houston signals a strategic shift toward integrated energy and critical minerals investment, strengthening U.S. partnerships across Africa’s resource and industrial value chains

HOUSTON, United States of America, February 26, 2026/APO Group/ –The U.S.-Africa Energy & Minerals Forum (USAEMF) has relaunched with a dedicated focus on critical minerals, marking an important evolution in its role as a platform for U.S.-Africa commercial engagement. Building on its foundation in energy, power and industrial projects, the forum’s expanded scope positions it at the center of investment conversations shaping the future energy economy.

 

Scheduled for July 21–22, 2026, in Houston, Texas, USAEMF comes at a time of surging global demand for copper, cobalt, lithium, manganese and rare earth elements, driven by electrification, battery storage, AI infrastructure and advanced manufacturing. Africa is increasingly critical to securing these materials, highlighting how energy and minerals are now interconnected pillars of industrial growth, geopolitical stability and decarbonization.

The forum’s minerals mandate deepens engagement with African producers – particularly the Democratic Republic of Congo (DRC), home to some of the world’s largest copper and cobalt reserves. Momentum is building through the U.S.–DRC strategic minerals framework and the U.S.-backed Orion Critical Mineral Consortium, a major investment platform supported by the DFC and private partners. The consortium is pursuing a 40% stake in the Mutanda and Kamoto copper-cobalt operations in a $9 billion transaction, securing long-term supply for allied markets while reinforcing cooperation on infrastructure, security and supply-chain governance.

Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties

U.S. financing is also expanding across the region, with the DFC managing a continental portfolio exceeding $13 billion to support mining, processing and transport infrastructure for critical mineral supply chains. Recent commitments include rare earth, graphite and potash projects in Malawi, Mozambique and Gabon; broader investments in Uganda, Tanzania, Zambia and South Africa; and $553 million linked to the development of the Lobito Corridor. The DFC is also a major backer of TechMet, a U.S.-supported investment firm valued at over $1 billion, which is raising up to $200 million to expand copper, cobalt, lithium and rare earth assets and pursue new opportunities across the DRC and Zambia. Together, these initiatives underscore Washington’s push to diversify battery-mineral supply while positioning Africa as a long-term partner in clean energy and industrial value chains.

Houston’s role as host city reflects the alignment between American industrial capacity and African resource development. Long established as a global energy hub, the city is expanding into energy transition technologies, advanced materials, carbon management and industrial innovation. By convening African governments with U.S. private equity, development finance institutions, exporters, insurers and technical service providers, the forum creates a commercial platform capable of converting mineral potential into bankable projects.

“The evolution from USAEF to USAEMF reflects a broader shift toward integrated energy and mineral development,” states Nadine Levin, Portfolio Director at Energy Capital & Power, forum organizers. “Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties and advances projects that deliver long-term shared value.”

While critical minerals define the forum’s strategic expansion, the U.S.’ longstanding role in Africa’s energy sector remains central to the platform’s value proposition. American energy companies continue to advance exploration and development across key upstream markets, support gas monetization in the Gulf of Guinea and revitalize mature production in North Africa. U.S. export credit and development finance are also helping unlock large-scale LNG capacity in Mozambique while supporting optimization and expansion across existing gas infrastructure in West Africa – demonstrating how American capital, engineering expertise and risk-mitigation tools convert resource potential into delivered energy systems.

USAEMF is the leading platform connecting U.S. capital and technical expertise with Africa’s energy and minerals sectors. For more information or to participate at the upcoming forum, please contact sales@energycapitalpower.com

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

Continue Reading

Business

Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments in Local Currencies in Kenya

Published

on

Pesalink

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders

NAIROBI, Kenya, February 26, 2026/APO Group/ —

  • Instant 24/7 bank-to-bank transfers across African borders in local currencies.
  • Simpler cross-border payments for individuals, businesses, and SMEs.
  • 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks.

 

Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration.

 

The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies.

 

Kenyan banks will now be able to offer faster, cheaper cross-border payments

PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform.

 

Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days.

 

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders.

 

Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.”

 

Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

Distributed by APO Group on behalf of Afreximbank.

Continue Reading

Events

Africa Trade Conference Returns to Cape Town with Esteemed Speakers Driving Africa’s Trade Agenda

Published

on

Africa

Second edition convenes global policymakers, business leaders, and innovators to accelerate Africa’s integration into global trade

CAPE TOWN, South Africa, February 26, 2026/APO Group/ –Access Bank Plc (www.AccessBankPLC.com) is proud to announce the distinguished line-up of speakers for the second edition of the Africa Trade Conference (ATC 2026), scheduled to take place on March 11, 2026, at the Cape Town International Convention Centre, Cape Town, South Africa. Building on the strong foundation of its inaugural edition, ATC 2026 will convene an exceptional assembly of global and African leaders, policymakers, investors, and business executives committed to shaping the future of trade on the continent.

The Africa Trade Conference has rapidly emerged as a premier platform for advancing dialogue and action around Africa’s evolving role in global commerce. The 2026 edition will feature influential voices from across finance, government, development institutions, and the private sector, who will share insights on unlocking trade opportunities, strengthening intra-African commerce, enabling business expansion, and positioning African enterprises for global competitiveness.

The confirmed speakers represent a powerful cross-section of leaders driving Africa’s economic transformation.

Building on the momentum of its maiden edition, which convened senior decision-makers from 28 countries, the 2026 conference with the theme “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact”, will have the keynote address delivered by Kennedy Mbekeani, Director General, Southern Africa Region, African Development Bank (AfDB), alongside Kwabena Ayirebi, Managing Director, Banking Operations at the African Export-Import Bank. Their joint keynote will address the evolving financing landscape for African trade and the strategic pathways for unlocking continental prosperity.

The welcome address will be delivered by Roosevelt Ogbonna, CEO/GMD, Access Bank Plc, who will set the tone for discussions centered on trade transformation, financial inclusion, and regional competitiveness, while Tolu Oyekan, Managing Director & Partner at Boston Consulting Group, will deliver insights on “Africa Trade Outlook 2026”, examining emerging macroeconomic trends, supply chain shifts, and growth opportunities across key sectors.  The CEO of Pan-African Payment and Settlement System, Mike Ogbalu, will be engaging the conference participants on the topic, “Building a Connected Africa Through Trade, Payments & Technology”, focusing on how payment interoperability and digital infrastructure can accelerate the African Continental Free Trade Area (AfCFTA) agenda.

The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us

The conference will also host a High-Level Ministerial Panel that features Elizabeth Ofosu-Adjare, the Minister for Trade, Agribusiness & Industry, Ghana; Tiroeaone Ntsima, Minister of Trade and Entrepreneurship, Botswana; Mr. Florian Witt, Divisional Head, International & Corporate Banking Oddo-BHF, Ms. Nathalie Louat – Global Director, International Finance Corporation (IFC), Dr Isaiah Rathumba – Head of Department, Limpopo Economic Development, Environment and Tourism and Mr. Alfred Idialu – Chief Rep Officer, Deutsche Bank among other policymakers shaping trade policy across the continent.

Commenting on the announcement, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said:
“The Africa Trade Conference reflects our unwavering commitment to advancing Africa’s economic transformation by creating a platform that brings together the leaders, institutions, and ideas shaping the future of trade. The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us. Africa is not only participating in global trade, it is helping to redefine it. Through this convening, we aim to catalyse partnerships, unlock new opportunities for businesses, and accelerate Africa’s integration into global value chains.”

“At Access Bank, we see ourselves not just as financiers, but as connectors of markets, ideas, and opportunities. Our role is to help African businesses move from ambition to impact, from local relevance to global competitiveness.”

With operations in 24 countries globally, including 16 across Africa, Access Bank’s expansive footprint places it in a unique position to facilitate cross-border trade, unlock regional value chains, and simplify the complexities of doing business across markets.

“Our presence across Africa and key global corridors gives us a front-row seat to the realities of trade. It also gives us the responsibility to design solutions that are inclusive, scalable, and future facing. ATC 2026 is part of that commitment, Ogbonna added.

ATC 2026 is expected to catalyze partnerships, enable policy dialogue, and provide actionable strategies for businesses operating within and beyond the continent.

The Access Bank Chief puts it thus, “Africa will not be a spectator in the remaking of global trade. We will be one of its architects. ATC 2026 is where those blueprints will be drawn.”

For more information and registration, please visit https://apo-opa.co/4sdXWF7

Distributed by APO Group on behalf of Access Bank PLC.

 

Continue Reading

Trending