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From Discoveries to Development: Strategic Growth in Africa’s Oil and Gas Basins (By Elizaveta Evseeva)

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Africa

By focusing on solid infrastructure, enhancing local skills, and developing several production sites instead of just large projects, this new exploration wave could finally tap into Africa’s long-awaited energy potential

SANDTON, South Africa, September 24, 2025/APO Group/ —By Elizaveta Evseeva, International Fellow, African Energy Chamber (https://EnergyChamber.org). 

Africa’s hydrocarbon frontier is at an inflection point. Large areas remain underexplored, but recent breakthroughs point to deliberate, strategic growth. The situation in these basins — a series of high-impact deepwater discoveries in Southern and West Africa alongside renewed onshore interest in Angola — challenges the old logic that Africa’s success depends only on mega-projects. These developments underscore how geology, export infrastructure and domestic politics must be considered together when judging a basin’s commercial prospects.

The Southern African Renaissance

According to the African Energy Chamber’s State of African Energy 2026 Outlook, Namibia’s Orange Basin has emerged as the epicenter of African exploration. TotalEnergies’ Venus discovery offshore Namibia is more than a deepwater find: it is a breakthrough that reshapes industry perceptions of Southern Africa’s potential. The development centers on a 160,000-barrel-per-day FPSO tied to roughly 40 subsea wells. Venus is moving into development planning, with a final investment decision expected in 2026 and first oil targeted between 2029–2030. TotalEnergies also plans to drill the Olympe-1X prospect in Block 2912. This marks a daring westward venture into unknown areas as it is the furthest west any well has been drilled in the Orange Basin. If successful, this four-way closure in Lower Cretaceous formations could unlock new play concepts.

South Africa’s participation in this renaissance cannot be overlooked. The basin’s eastern extension signals growing confidence. Examples include Rhino Resources (Volans-1X) and Eco Atlantic (Block 1). Shell is planning a five-well campaign in South Africa, close to its discoveries in Namibia. This highlights the basin’s cross-border potential. However, commercial constraints — strict fiscal terms, monetization challenges, geological complexity — and legal headwinds such as the ongoing judicial challenges to seismic/exploration approvals for the Wild Coast and related licences remain a drag on timelines.

Angola presents a fascinating duality in frontier exploration. The ultra-deepwater is still a Tier-A chance, especially with Azule Energy’s (Eni-BP joint venture) Quitexe-1 well in Block 47. However, the real surprise might come from onshore. The Kwanza Basin, inactive for four decades, could see its first pre-salt exploration well since the 1980s. Corcel’s planned 2026 drilling of the Sirius structure, potentially holding one billion barrels in place, represents a contrarian bet that could unlock an entirely new petroleum province. The deals are subject to final approvals. Of particular significance are the institutional, regulatory and contractual reforms the Angolan government is currently implementing. Our recent State of African Energy 2026 Outlook examines these reforms in depth.

West African Resurgence

Geology, export infrastructure and domestic politics must be considered together when judging a basin’s commercial prospects

Côte d’Ivoire has positioned itself as a compelling exploration destination. Murphy Oil’s Civette-1 well will be drilled by the Deepwater Skyros in the fourth quarter of this year. This well could reveal new play concepts in an area proven by Eni’s Baleine field. The prospect portfolio includes Caracal, which has a potential of 150-360 million barrels, and Kobus, with up to 1.26 billion barrels. These figures demonstrate the materiality of remaining opportunities.

The Gulf of Guinea’s broader renaissance extends to often-overlooked jurisdictions. São Tomé and Príncipe, Africa’s second-smallest nation by land area, exemplifies this trend. Shell’s Falcao-1 wildcat in Block 10 is set for late September 2025. It builds on Galp Energias’ 2022 Jaca-1 discovery with a proven working petroleum system. The updated view of the subsurface geology now resembles already producing countries like Gabon and Equatorial Guinea. As a result, there’s a surge of drilling plans for 2026-2027.

The ultra-deepwater journey in West Africa remains nascent, with few wells venturing deeper than 3,000 meters in this region. As such, the region stands as one of the last true frontiers for offshore exploration.

Reframing Risk and Reward

Recent African exploration reveals a surprising truth: “failures” can be valuable. Non-commercial wells that encounter source rocks or show petroleum systems may seem disappointing, but they help refine basin models and cut future exploration costs. Even a few technical successes, even if not commercially viable, can significantly lower expected finding costs for a basin. Portfolios that quickly adapt to negative information and change their exploration strategies tend to do better than those stuck with old geological models.

Investors often favor mega-fields, especially in high-risk areas in Africa. However, smaller, quicker oil projects have strong benefits. These projects can act as a public-policy force multiplier and provide clear cash flows that are able to change government incentives. Examples include Senegal’s Sangomar field, which accelerated licensing through early revenues, and Angola’s smaller post-2018 tiebacks, which sustained local services and prompted regulatory reforms.

Multiple modest FPSO developments build political goodwill. This reduces future political risk better than one large project. Early cash flows have the potential to change the political landscape by speeding up licensing rounds and supporting local projects. Companies such as Rhino Resources use a ‘first-to-first-oil’ approach — prioritising early, smaller-scale production to build presence and negotiating leverage. It sees early production as not just revenue, but as a key investment for better future access and terms. Smaller projects also tackle Africa’s human capital challenges better than large megaprojects do. They spread employment across regions without overwhelming local capacity. This enables gradual skills transfer and avoidance of the boom-bust cycles that have plagued resource economies elsewhere.

Turning Discoveries into Development

Africa’s next exploration wave defies simple characterization. It’s not just a boom or a careful exploration. It’s a smart, multi-faceted push into the world’s last frontier basins. The view of Africa as only a high-risk, quick-reward region is evolving. Now, patient investment, strong infrastructure and careful planning are as crucial as geological skills. Companies that treat ultra-deepwater wells as chances to build networks, prefer quick adjustments over strict plans and see the value in early production could gain more. By focusing on solid infrastructure, enhancing local skills, and developing several production sites instead of just large projects, this new exploration wave could finally tap into Africa’s long-awaited energy potential.

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

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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.

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Business

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

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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.

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Events

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

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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.

 

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