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East Africa Adopts Diversified Resource Development Strategy

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African Energy

The region is home to both mature renewable producers and frontier oil and gas markets, which will be on display at the upcoming Invest in African Energy 2024 forum in Paris

PARIS, France, December 15, 2023/APO Group/ — 

Boasting an abundance of renewable resources, East Africa has garnered substantial attention from major international players within its clean energy market. Robust policies and declining costs of technology in the sector, coupled with regional market and infrastructure reforms, are poised to accelerate the deployment of clean energy projects. Yet the region is also anticipating first oil from the Tilenga project – part of Uganda’s Lake Albert Development – along with new liquefied natural gas (LNG) investments in Tanzania. New avenues for multi-pronged resource development strategies will be explored during the 2024 Invest in African Energy (IEA) forum – taking place in Paris next May and uniting industry experts from across Europe and Africa for two days of country spotlights, networking sessions and deal-making opportunities.

South Sudan

With a low electrification rate, South Sudan is a prime candidate for accelerated investment in decentralized energy solutions to increase rural energy access and stimulate industrial development. The country features opportunities for regional and international partners to support the development of solar mini-grids, an achievable and scalable energy solution for South Sudan’s rapidly growing population, which remains heavily reliant on diesel-powered generators for electricity.

New avenues for multi-pronged resource development strategies will be explored during the 2024 Invest in African Energy (IEA) forum – taking place in Paris next May

As one of Africa’s largest oil producers, the country is also seeking an influx of capital and technology to expand its upstream sector. Last September, South Sudan finalized a three-billion-dollar deal with U.S. oil company, Caltech Investment, to invest in and grow its petroleum industry and associated infrastructure. South Sudan is also looking to forge partnerships in technical training, skill building and knowledge transfer as it aims to develop its local workforce and transform its national oil company, Nilepet, into an integrated energy operator by 2027.

Tanzania

Having set a goal to increase its share of renewable energy to 50% by 2025, Tanzania has implemented a series of programs to support the development of solar, geothermal and hydropower projects, aiming to add 600 MW of hydropower and 400 MW of geothermal power capacity to the grid by 2025. The Africa Renewable Energy Fund, a private equity fund focused on the development of clean energy projects across sub-Saharan Africa, has invested in multiple renewable projects in the country, including a 10 MW solar plant in Singida. Last April, the Tanzanian Government, African Development Bank and French Development Agency signed finance agreements worth $300 million for the construction of an 87.8 MW hydropower plant in the Kagera region, with the project also receiving a $38.8-million grant from the EU.

Meanwhile, Tanzania is also driving energy development in the form of natural gas. The country holds proven natural gas reserves of 57 trillion cubic feet and is hoping to accelerate exploration, with plans to launch an oil and gas licensing round in 2024. Last May, Equinor, Shell and ExxonMobil finalized discussions with the Tanzanian Government on the construction of a large-scale LNG facility with the capacity to supply 10 million metric tons per year, establishing an initial production-sharing agreement and regulatory framework. One month later, China National Offshore Oil Corporation announced its plans to explore for oil and gas in Tanzania’s 4/1B and 4/1C offshore blocks, located nearby existing gas discoveries.

Uganda

Earlier this month, Uganda’s Ministry of Energy and Mineral Development released its Energy Transition Plan that focuses on raising energy access rates and requires eight billion in annual clean energy investments by the end of the decade. The country’s renewable sector has attracted steady investment to date – during this year’s COP28 summit, for example, the Private Infrastructure Development Group committed $19 million towards the construction of a 20 MW solar PV project in northwestern Uganda. Notably, the East African country is spearheading a dual development strategy, awaiting first oil production from the Lake Albert Development set to begin in 2025. As a result, Uganda requires significant foreign investment to build the infrastructure needed to monetize its estimated 6.5 billion barrels of oil reserves. 

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

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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