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Benedict Peters and Aiteo Group: Defining an African Energy Champion

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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.

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Afreximbank Backs DOTT Services Limited, Uganda with a US$28 Million Facility for Regional Engineering, Procurement and Construction (EPC) Projects

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The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains

CAIRO, Egypt, November 4, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has activated and approved a US$28 million dual-tranche facility for DOTT Services Limited, the leading Uganda-based engineering, procurement and construction (EPC) contractor, and has begun disbursing funds to support the execution of its EPC projects pipeline, valued at more than US$550 million.

 




 
 

Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. Specifically, the financing will support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately US$550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo.

Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa office, said:

Through the initiative, the Bank provides support, including financing, twinning and matchmaking

“This facility reflects Afreximbank’s commitment to building strong African EPC champions capable of delivering the infrastructure that underpins Africa’s industrialisation, trade and economic integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations across five African countries, we are addressing a critical financing gap that has historically constrained the ability of African firms to participate meaningfully in large-scale, cross-border infrastructure projects.

The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains. It also advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to increase African participation in the development and delivery of Africa’s infrastructure.

Through partnerships such as this, we are ensuring that greater value, expertise, employment opportunities and economic benefits are retained within Africa while fostering the emergence of globally competitive African contractors.”

Mr. Nwugo further noted that most local commercial banks lacked the capacity to support intra-African and regional projects because they were poorly placed to absorb the associated cross-border risks, while international banks tended to prioritise non-African contractors. As a result, African entities were often left without adequate financial support.

He said: “Afreximbank’s EPC Initiative was therefore designed to address this challenge by supporting African EPC contractors in securing and executing a greater share of infrastructure contracts across the continent. Through the initiative, the Bank provides support, including financing, twinning and matchmaking, as well as issuing letters of support, among others”, he explained.

DOTT Services Limited presence in Africa spans 28-years, with operations in Uganda, Tanzania, South Sudan, Zambia, and the Democratic Republic of Congo (DR Congo). It also has European offices in Italy and the UK, and a workforce of over 6,000 people. The company procures from, and distributes to, African countries goods such as bitumen, asphalt, steel and spare parts, as well as yellow goods equipment and services, making it a significant player in intra-African trade. Its track record of promoting trade-supporting infrastructure across the continent makes it a natural partner for Afreximbank’s EPC Contract Promotion Initiative, which seeks to build African EPC champions capable of delivering the infrastructure that underpins intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Coca-Cola Beverages Africa (CCBA) invests in Africa’s leadership potential through EDGE

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Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business

JOHANNESBURG, South Africa, November 4, 2026/APO Group/ –Thirty-one leaders from across 12 African countries have graduated from Coca-Cola Beverages Africa’s (CCBA) (https://www.CCBAgroup.com) EDGE Senior Leadership Acceleration Programme, marking the completion of the programme’s second generation and the first pan-African EDGE cohort.

 




 
 

Created by CCBA, EDGE is the company’s flagship senior leadership development programme. Building on previous participation from The Coca-Cola Company, the programme was further expanded in 2026 to include leaders from Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, creating a broader pan-African learning experience across the Coca-Cola system.

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business.

The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system

The graduating cohort represented leaders from multiple countries and business functions. Through classroom learning, business projects, mentoring and coaching, participants gained practical experience in addressing real business opportunities and challenges.

With CCBA serving more than 840,000 customers across Africa, the company requires leaders who can navigate complexity and create value in diverse markets. EDGE helps build these capabilities through practical, business-focused learning.

“People are at the heart of everything we do, and programmes like EDGE demonstrate our commitment to investing in their growth and future success,” said Natasa Prodanovic, Chief People and Culture Officer at CCBA.

“The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system. By learning alongside colleagues from The Coca-Cola Company, Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, participants were able to build meaningful connections, share diverse perspectives and strengthen collaboration across our markets.”

The curriculum focused on strategy, value creation, transformation, commercial decision-making, leading self and leading teams. Participants also presented business projects aligned to organisational priorities as part of the programme’s graduation requirements.

EDGE forms part of CCBA’s broader commitment to developing future leaders and building the capabilities needed to drive sustainable growth and impact across Africa.

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

 

 




 

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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