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Equatorial Guinea, Cameroon Bilateral Agreement Signals New Era of Cross-Border Cooperation in Africa

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3 years ago

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Equatorial Guinea

The respective Presidencies of Equatorial Guinea and Cameroon have signed a bilateral cooperation agreement, unlocking a new phase of energy security and economic expansion on the back of gas monetization and cross-border collaboration

JOHANNESBURG, South Africa, March 20, 2023/APO Group/ — 

H.E. Teodoro Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea and H.E Paul Biya, President of the Republic of Cameroon have signed a bilateral treaty that would see the two West African countries cooperate on cross-border oil and gas development and monetization. The agreement was signed during the heads of state summit of the Economic and Monetary Community of Central Africa (CEMAC) countries held in Cameroon last week and is set to bring with it new opportunities for oilfield development and regional energy security.

The African Energy Chamber (AEC), as the voice of the African energy sector, celebrates and supports the signing of the bilateral treaty between Equatorial Guinea and Cameroon. The Chamber is confident that the agreement will unlock a new era of cooperation, with the agreement serving as a blueprint for other African countries looking at strengthening knowledge sharing, skills and technology transfer, infrastructure development and local content, all on the back of cross-border oil and gas maximization. As such, the AEC urges the Governments of Equatorial Guinea and Cameroon to move fast, leveraging the treaty to fast-track field development, address fiscal challenges and bring new supplies on the regional market.

For its part, the agreement paves the way for the joint development and monetization of cross border hydrocarbon fields, and more specifically, the Chevron-operated Yoyo (Cameroon) and Yolanda (Equatorial Guinea) oil and gas fields, which are located along the maritime borders of the two countries. Following Chevron’s acquisition of Noble Energy in 2020, the energy major has been committed to developing the promising fields, seeking to acquire a gas sharing agreement for the Yoyo and Yolanda discoveries with the aim of fast-tracking resource development. The bilateral agreement is set to not only aid in the field’s development, with the two states now set to progress to the Unitization Agreement of the Yolo-Yolanda field and the various monetization options, but in the development and launching of various other fields.

We are confident that cooperation between Cameroon and Equatorial Guinea will unlock long-term economic benefits for the entire region

Notably, the development of Cameroon’s Etinde gas field – operated by New Age – and Equatorial Guinea’s Camen and Diega fields are also set to be incorporated in the treaty, thereby maximizing the implementation of the Gas Mega Hub – an Equatorial Guinea initiative which aims to optimize the development and monetization of stranded offshore gas reserves in regional basins –  and bringing long-term energy security and affordability benefits as well as gross domestic product growth for the two countries.

The two countries’ success in achieving this milestone of signing the bilateral treaty can be largely attributed to the efforts undertaken by an integrated team led by the National Hydrocarbons Corporation of Cameroon and Equatorial Guinea’s Ministry of Mines and Hydrocarbons. The agreement itself is set to kickstart the joint development of the countries’ vast energy resources, with oil and gas industry growth inevitable on the back of improved cooperation between Cameroon and Equatorial Guinea.

However, the treaty represents just the start, with several challenges including restrictive foreign exchange regulations implemented by the Bank of Central African States (BEAC) that continue to deter foreign investment in need of addressing. In this regard, the AEC urges further collaboration between the two countries towards improving the enabling environment for investment so that progress seen with the signing of the treaty is not only maintained but accelerated.

“The Chamber commends the move made by Equatorial Guinea and Cameroon to unite on oil and gas resource development and exploitation. We believe that cooperation among African countries is key for driving the development and monetization of hydrocarbon resources to address looming energy access and affordability issues across the continent. We are confident that cooperation between Cameroon and Equatorial Guinea will unlock long-term economic benefits for the entire region,” states NJ Ayuk, the Executive Chairman of the AEC, adding that, “What we need to see now is consolidated efforts by all West African countries to address regulations that continue to deter investment, thereby putting in place enabling environments that trigger further growth across the energy sector. Policies such as those implemented by BEAC continue to limit growth.” Concluded Ayuk

The AEC urges the Cameroonian and Equatorial Guinean governments to expand their cooperation even further to address business challenges caused by the BEAC regulations. Unless address, these regulations will continue to restrict the flow of foreign investments, the development of hydrocarbons as well as employment creation and market growth across the CEMAC region. Leveraging already existing partnerships such as the recently signed treaty, Equatorial Guinea and Cameroon have the chance to set a precedent across West Africa, with energy cooperation representing the first step towards long-term and sustainable economic growth. 

Distributed by APO Group on behalf of African Energy Chamber.

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Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

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13 hours ago

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July 24, 2026

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Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

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Energy

Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

Published

16 hours ago

on

July 24, 2026

By

African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

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

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Business

Africa Trade Gateway Delivers US$5.3-Million Cross-Border Transaction in First Energy Sector Trade in Southern Africa

Published

16 hours ago

on

July 24, 2026

By

Afreximbank

The transaction represents an important milestone for both the participating institu-tions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transac-tion in Southern Africa

HARARE, Zimbabwe, July 23, 2026/APO Group/ –A US$5.3-million cross-border fuel (gasoil) trade transaction has been successfully completed with support of the Africa Trade Gateway (ATG), African Export-Import Bank’s (Afreximbank’s) (www.Afreximbank.com) flagship digital trade ecosystem, demonstrating the value and efficacy of the Gateway in powering African trade.

The transaction, which saw Zimbabwean fuel importer Witeva Trading source a gasoil shipment from a leading commodity trader and supplier in Switzerland, with Innbucks Microbank Ltd. participating as the local issuing financial institution and Afreximbank providing confirmation support under agreed trade finance structure, demonstrates how African businesses can leverage one connected ecosystem to identify opportunities, access finance and complete international trade more efficiently.

The ATG made it possible for the commercial opportunity to be connected to the right ecosystem participants, bringing together the buyer, supplier and participating financial institutions to support a successful execution of the transaction.

The transaction represents an important milestone for both the participating institutions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transaction in Southern Africa.

This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem

It also demonstrates how African Businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, access trade-finance support and execute cross-border transactions more efficiently.

Peter Olowononi, Director, Regional Operations, Southern Africa, at Afreximbank, said:

“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”

Emeka Onyia, Director, Digital Business, at Afreximbank, added:

“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”

“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.

Distributed by APO Group on behalf of Afreximbank.

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