GEORGETOWN, Guyana, February 21, 2025/APO Group/ –In a significant announcement at the Guyana Energy Conference and Supply Chain Expo being held from, February 18 – 21, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), declared the multilateral Bank’s intention to establish a $1 billion oil service financing facility in Guyana. This initiative aims to enhance local participation in the country’s fast growing oil industry, in alignment with the government’s local content policies. The Bank will deploy the $1 billion facility directly to qualifying corporate clients or through a factoring line via local banks, enabling them to finance invoices from local contractors.

President Oramah highlighted the transformative potential of Guyana’s estimated 12 billion barrels of crude oil reserves. Emphasising the transformative power in proactive resource management, he advised Guyana to aggressively harness and build capital from its oil resources.

He said, “Given the level of oil production in Guyana and its offshore location, I estimate that the oil service sector would amount to 5 to 8 billion US dollars annually. But where will it go? Most of it would be paid to oil service companies abroad, if Guyana does nothing to avoid that. A 50% retention in Guyana would increase Guyana’s GDP by 29% to 47%.” As such, he called for robust local content policies that would enable Guyanese entrepreneurs to become significant players in the oil value chain.

Based on Afreximbank’s rich history of supporting commodity-dependent economies, President Oramah shared insights to complement the ongoing efforts of the Guyanese government. He acknowledged the inherent risks associated with dependency on a single commodity and laid stress on the importance of diversification.

He cautioned, “The commodity market is prone to volatility and cyclicality; hence, the reliance on crude revenues as a primary source of government funding could expose the national economy to volatile commodity markets.” As such, he advised the government to secure long-term off-take contracts with oil service companies, which will enhance market access and price stability.

In the spirit of deepening Afri-Caribbean partnership, President Oramah remarked that skilled oil service companies from Ghana, Egypt, and South Africa, are “ready and willing to support Guyanese… And of course, Afreximbank is there to underwrite the marriage.”

He added that: “These measures are necessary if Guyana and other new entrants in the Caribbean and Africa are to avoid the painful “Dutch Disease. We make these suggestions based on the three long decades of financing oil and gas activities across Africa. We have witnessed oil-dependent economies transform for better or worse through these periods. In all these, the difference reflected the policy choices the leaders made.”

BRAZZAVILLE, Congo (Republic of the), February 21, 2025/APO Group/ –Service and technology providers are playing a growing role in Africa’s oil and gas industry, delivering cutting-edge solutions that improve efficiency, foster innovation and support sustainability across a range of projects in the sector. These companies are key to advancing exploration and increasing production capacity and will showcase their strategies and upcoming projects at the inaugural Congo Energy & Investment Forum (CEIF) this March.

Taking place in Brazzaville from March 24-26, CEIF 2025 is set to showcase the Republic of Congo’s energy ambitions, including the country’s strategies to increase oil production to 500,000 barrels per day by 2027 and the introduction of its Gas Master Plan. With service companies like Accenture and NOV taking part in an in-depth roundtable session at CEIF 2025, the country is well-positioned to showcase an improved enabling environment that welcomes local and international companies.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

Houston-based NOV is advancing Congo’s oil and gas capabilities through cutting-edge technologies and services that enhance operational efficiency and support sustainable energy development. The company is involved in several strategic initiatives across key African markets, including contributions to offshore exploration and production. NOV, which will be represented at CEIF 2025 by Vice President of Global Accounts Arthur Ename, is also deeply committed to local content and workforce development, focusing on translating its expertise to support the growth of industries throughout the continent while creating jobs, transferring knowledge and empowering communities.

Meanwhile, professional services and consulting company Accenture boasts wide industry experience in oil and gas, utilities, chemicals and processing, rail transportation and technology and covers clients operating in upstream, midstream, downstream and oilfield services. As such, Accenture Executive and Associate Director Nosayaba Evboumwan will part in the CEMAC Energy Dialogue in-depth roundtable session at this year’s CEIF 2025.

“The participation of NOV and Accenture at CEIF 2025 highlights the vital role service companies play in enhancing Congo’s oil and gas sector. Their expertise in technology, innovation and workforce development is crucial to driving sustainable growth and industry transformation,” states Energy Capital & Power Events and Project Director Sandra Jeque.

ABERDEEN, Scotland, February 21, 2025/APO Group/ –Following the resounding success of Scotland London Africa Week 2024, the Scottish Africa Business Association (SABA) (www.AfricaScot.com) is delighted to announce that the business programme will return this year from 25th to 27th November 2025.

Scotland London Africa Week has quickly established itself as a pivotal event for increasing trade, collaboration and business opportunities between Scotland and African markets. The 2024 programme brought together senior diplomats, government officials and business leaders to strengthen partnerships and unlock new opportunities for more than 20 delegates.

The 2025 programme is already shaping up to build on this success, with confirmed highlights including a strategic meeting with the Department for Business and Trade (DBT) Africa Team and a high-profile networking reception at Dover House, with kind permission of the Secretary of State for Scotland The Rt Hon Ian Murray MP.

SABA is also working closely with High Commissioners and Ambassadors from across the African continent to ensure the event continues to offer Scottish businesses unrivalled access to African market insights, key decision-makers and potential partners within London’s thriving African business ecosystem.

Frazer Lang, Chief Executive of SABA, said: “Scotland London Africa Week has proven to be an invaluable platform for Scottish businesses looking to expand into Africa. The engagement we saw last year from both African and UK stakeholders was fantastic and we are excited to bring an even more impactful programme to our participants in 2025.  As a result of last year’s programme, one of our success stories was the news that VG Energy and Norco signed a Memorandum of Understanding, binding the two companies in an exclusive partnership that will bring growth and technical innovation to Nigeria.”

Commenting on the partnership, Frank Burns, Contract Support Engineer at Norco said: “We are extremely pleased to be able to declare our exclusive partnership with VG Energy via this Memorandum of Agreement. This is a new and exciting chapter for Norco as we expand our presence and service offering in Nigeria. Together with VG Energy, who bring significant experience in identifying and securing new business opportunities, we feel well-placed to unlock new growth opportunities in the energy sector and beyond.”

This year’s Scotland London Africa Week will feature sector-specific briefings, market insights and networking opportunities designed to equip Scottish businesses with the tools and connections to thrive in African markets.

Scottish businesses interested in participating are encouraged to register their interest early to secure a place.