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Galp Energies’ Adriano Bastos to Make Case for Sustainable, Efficient Energy Mix at African Energy Week (AEW) 2023

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Adriano-Bastos

At African Energy Week, Adriano Bastos, Head of Upstream Special Projects at Galp Energies, will share valuable insights on the company’s sustainable operations in Africa’s energy sector

JOHANNESBURG, South Africa, August 10, 2023/APO Group/ — 

To unlock the full potential of Africa’s oil and gas resources, the continent requires innovative approaches to exploration, production and energy mix integration. Companies such as Galp Energies, a Portuguese multinational energy corporation, continue to make great strides across Africa’s promising hydrocarbons basins while expanding activities across the downstream and midstream segments. During this year’s African Energy Week (AEW) conference – taking place from October 16-20 in Cape Town – Adriano Bastos, Head of Upstream Special Projects at Galp Energies, will be taking the stage as a distinguished speaker, providing insight into the company’s sustainable upstream agenda.

With an extensive career in the energy sector, Bastos brings a wealth of knowledge and expertise to the table. As Head of Upstream Special Projects at Galp Energies, he has played a pivotal role in shaping the energy landscape and fostering sustainable solutions in the industry, and during AEW 2023, Bastos will delve into Galp Energies’ recent developments, including its latest venture in the Orange Basin, offshore Namibia. Through a strategic contract with maritime logistics firm SFL Corporation, Galp Energies will be utilizing the Hercules semi-submersible rig to explore the Petroleum Exploration License (PEL) 83, known for its significant prospectivity and relatively shallow water depth. The potential of PEL-83 positions it to become one of the most substantial and profitable developments in Namibia.

Meanwhile, in Angola, Galp Energies is set to sell its assets and stakes in the country’s upstream sector through an agreement with Angolan private equity firm Somoil, projecting an impressive $830 million. This transaction is expected to crystalize value from mature upstream assets and support the high grading of Galp Energies’ upstream portfolio, aligning with the company’s decarbonization strategy. Galp Energies’ strategic divestment aligns with the company’s vision to streamline its hydrocarbon portfolio amidst favorable market conditions and further reinforces its commitment to responsible growth and sustainability within the energy sector.

Regarding its commercial activities in Angola, Galp concentrates its oil product marketing activity through two main companies: Petrogal Angola – a subsidiary of Galp Energies dedicated to the distribution and marketing of lubricants in the Angolan market – and Sonangalp – a joint venture between Galp Energies (49%) and Sonangol (51%). Sonangalp focuses on the distribution and marketing of liquid fuels and lubricants in both the retail and wholesale segments.

Galp Energies transformative approach and key innovation projects sets a remarkable example for the industry

Committed to the energy transition and carbon neutrality, the company has been leading key innovation projects and energy management solutions. This includes Agrivoltaics, a concept that combines solar energy production with agriculture, as well as energy storage projects, which are crucial for managing grid variability. Additionally, Galp Energies is involved in piloting technologies and developing software solutions to optimize renewable generation value. The company is also involved in cutting-edge commercial projects, such as the V2G project in Portugal and the Sensei Pod, Europe’s first autonomous store.

Moreover, Galp invests in Carbon Capture, Utilization, and Storage (CCUS) technologies to reduce CO2 emissions and combat climate change, as well as the development of Green Hydrogen technologies. These solutions demonstrate Galp Energies dedication to a sustainable and greener future, contributing to global efforts in energy transition and carbon neutrality.

“Galp Energies continues to be a driving force in Africa’s energy sector, showcasing its commitment to sustainability. With its strategic divestment in Angola’s upstream sector and its latest ventures in the Orange Basin, Galp Energies has exemplified its dedication to responsible growth and sustainable practices,” states NJ Ayuk, Executive Chairman of the AEC, adding that “Galp Energies transformative approach and key innovation projects sets a remarkable example for the industry, and we look forward to witnessing the positive impact of its contributions in Africa’s energy landscape.”

During AEW 2023, Bastos will provide key insight into the company’s recent upstream developments while engaging with a suite of investors and project developers from across the African energy sector. From participating in panel discussions to meeting with African energy and petroleum ministers, Bastos is set to bring new insight to the AEW 2023 conference.

 AEW is the AEC’s interactive exhibition and networking event uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information about sponsorship, attendance, and partnership opportunities, visit www.AECWeek.com

Distributed by APO Group on behalf of African Energy Chamber.

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Verdant Capital Hybrid Fund completes USD 2 million mezzanine investment in UsPlus

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UsPlus

The investment will support UsPlus’ expansion of working capital solutions tailored to Small to Medium Enterprises (SMEs) operating across various critical sectors in South Africa

JOHANNESBURG, South Africa, January 30, 2025/APO Group/ — 

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed its fifth investment of USD 2 million, structured as junior convertible debentures in UsPlus Limited (“UsPlus”) incorporated in South Africa. UsPlus has greatly impacted the financial landscape of SMEs in South Africa by using working capital to support sectors and projects that are essential to the sustainability of the country’s society and environment. This investment will enable UsPlus to expand its invoice factoring services across key sectors in South Africa, reinforcing the company’s role as a pivotal player in the South African invoice factoring vertical. 

Since its inception in 2015, UsPlus continues to offer essential working capital solutions to businesses across the country, that have historically been unable to access traditional forms of financing. While the company supports a wide range of sectors, it has a current emphasis on funding women and sustainably led ventures. 

UsPlus’ service offering is guided by a developmental agenda which is mainly focused on supporting local manufacturers, logistics providers, local farmers, renewable energy players and service providers, among others, to improve the competitiveness of such entities by enhancing their ability to (i) meet the procurement requirements of large multinational corporations and (ii) promote financial inclusion for SMEs that historically have been unable to access traditional forms of working capital solutions.  

The Fund’s investment will strengthen UsPlus’ capital position and help “crowd-in” more senior debt funding into the business to further grow its balance sheet. The Fund is attracted by UsPlus’ business model as it aligns with the Fund’s mission to use its funding to provide financial solutions that have the broadest possible impact on society, while benefiting from fundamental credit risk mitigants. 

This investment will yield a return which is aligned with the Fund’s return target. 

The Fund is investing in inclusive financial institutions on a pan-African basis, with a focus on digitally enabled financial institutions providing services to Micro, Small and Medium-sized Enterprises (MSMEs). The Fund invests in hybrid capital instruments including subordinated debt, mezzanine, preference shares and stapled investment structures. The Fund has a size of USD 38 million (target of USD 100 million at Final Close in H1 2025).  

Distributed by APO Group on behalf of Verdant Capital.

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It’s Time to be Bullish about Africa: An Human Resource (HR) and Payroll Technology Perspective

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Human Resource

2024 was a good year for payroll services in Africa, giving 2025 the momentum to achieve even greater things

JOHANNESBURG, South Africa, January 30, 2025/APO Group/ — 

“Extremely bullish on Africa – can’t wait to see the continent evolve over the next decade. So much talent.”

These sentiments are from a social media message by Alex Bouaziz (https://apo-opa.co/4jA3xCe), co-founder and CEO of Deel, the most successful technology startup in history that reached a US$12 billion value in just 5 years. Reaching more than 16,000 followers on Twitter, his post sparked a flurry of similar comments, expressing how they saw opportunity emerge across the continent.

The post also carries significant relevance because 2024 was a landmark year for Deel’s relationship with Africa. Specifically, Deel acquired PaySpace, the African-developed payroll platform that is challenging traditional payroll and HR software to bring much faster, smarter, and more affordable services to multiple regions.

Digital is part of Africa’s story

Cloud-native payroll and HR software is driving a US$16 billion market growing 12% annually (https://apo-opa.co/3PY313s). Organisations worldwide are replacing legacy systems with integrated cloud solutions, reaping major competitive and cost advantages by leveraging data, integration, and agile software.

This transformation is especially impactful in Africa, where developing nations benefit from the speed and affordability of cloud-native platforms across their diverse regions. African companies are leapfrogging ahead to get the most from these new technologies. They are adopting cloud solutions faster to help staff focus their energy smartly and not on repetitive tasks and data collection that could be automated.

Serving over 16,000 customers in 46 countries

Organisations of all sizes are embracing digitisation and seeing remarkable results

The continent has enormous potential to become a massive internal market. According to the Pan African Chamber of Commerce and Industry, inter-African trade reached over US$192 billion during 2023 (https://apo-opa.co/42B9Lf0).

Yet, with that figure only representing 15% of total African trade, there is still considerable room for growth. Furthermore, Africa’s companies are increasingly exporting business services to the rest of the world.

PaySpace is a perfect example of this export opportunity. It serves over 16,000 customers with its cloud-native, multi-tenant payroll and HR software platform, including leading ESS features such as Pacey, the WhatsApp chatbot that helps employees directly access services such as payslips and leave applications through the popular chat client.

During 2024, the PaySpace platform helped companies pay 8.5 million employees in 46 countries, now including Brazil and the UK, and several other milestones:

  • 233,988,871: Number of payslip calculations on the PaySpace platform.
  • 1.01: The number of seconds PaySpace by Deel took to calculate a payslip on average.
  • 64,997: Hours saved by customers using the PaySpace platform during 2024.
  • 170,000: Visits to the PaySpace Knowledge hub during 2024.

“Organisations of all sizes are embracing digitisation and seeing remarkable results,” says Sandra Crous, Managing Director of PaySpace. “PaySpace started twenty-four years ago because the founders saw the same future for the payroll and HR space, and it’s been amazing to experience how our customers keep gaining when they leverage cloud-native software.”

Bullish about Africa

The notion of an African Renaissance is not new, and it has encountered challenges. Yet, digitisation is undeniably enabling African organisations in transforming their operations. The flexibility of modern software helps them accomplish more and compete internationally, offering great benefits to customers globally.

Alex Bouaziz’s comment shows that the world is waking up to Africa’s potential. Deel’s acquisition of PaySpace shows that African technologies not only compete successfully against international brands, but can lead the way forward. It’s time to be bullish about Africa!

Distributed by APO Group on behalf of PaySpace.

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Angola Oil & Gas (AOG’25) Kicks Off to Celebrate 50 Years of Angola’s Independence and Its Leadership in the Oil Sector in Africa

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AOG 2025 returns to Luanda on September 3-4, bringing together global energy leaders on Angola’s top investment platform

LUANDA, Angola, January 29, 2025/APO Group/ — 

The sixth edition of the Angola Oil & Gas (AOG) Conference & Exhibition was officially launched today, marking the beginning of a historic celebration. The event, scheduled for September 3-4, 2025, in Luanda, is the country’s largest oil and gas investment platform, bringing together industry leaders, financiers, technology providers, and both local and international service providers.

Under the theme “Turning Dialogue into Business,” AOG 2025 promises to be the biggest edition yet, standing out for its B2B networking, promotion of strategic collaboration and support for signing agreements among key industry decision-makers. The conference also commemorates 50 years of Angola’s independence and five decades of growth in the oil and gas industry, which has been achieved through factors such as transparent cooperation with major global operators, consistent investment, collaboration among industry stakeholders and continuous innovation.

According to José Barroso, Angolan Secretary of State for Oil and Gas, “the sixth edition of AOG 2025, organized this year as part of the celebration for the 50th anniversary of our independence, comes at an important time for Angola and the national oil and gas sector,” he said, adding that “Angola’s oil and gas sector marks 50 years of resilience and growth, offering a compelling investment opportunity for international partners and reaffirming its position as a hub for global industry leaders.”

He further stated, “As Angola’s oil and gas sector celebrates 50 years of growth, we’re showcasing its profitability to foreign investors. Events like AOG 2025 play a crucial role in boosting the sector, promoting Angola globally and attracting investment, ultimately driving economic and social progress.”

Meanwhile, Barroso highlighted that oil production was averaging over one million barrels per day, and that the country seeks to further increase output through a multifaceted investment approach, including the launch of its 2025 licensing round which will offer new blocks in the offshore Kwanza and Benguela basins, in addition to new opportunities in marginal fields.

Angola’s licensing round, scheduled for the first quarter of 2025, includes blocks 22, 35, 37, 38, and 36 in the Kwanza Basin, and blocks 40, 25, 39 and 26 in the Benguela Basin. Meanwhile, the available marginal fields cover areas in blocks 4, 14, 15, 17/06, and 18. The Incremental Production Initiative, which offers more attractive fiscal conditions, has been a key tool to maximize production from existing assets.

Events like AOG 2025 play a crucial role in boosting the sector, promoting Angola globally and attracting investment, ultimately driving economic and social progress

In the natural gas sector, Angola is also striving to position itself as a major exporter, increasing the share of gas in the energy mix to 25%. The government is attracting new investments and technological innovations, with strategic projects such as Angola LNG.

Among recent developments, Chevron launched the Sanha Lean Gas Connection Project in December 2024, while the New Gas Consortium expects to start producing non-associated gas by late 2025 or early 2026. Angola also presents investment opportunities in gas-to-power, LPG, and distribution projects, making it an increasingly attractive market for investors. In the downstream sector, the Cabinda Refinery is expected to begin operations in 2025, with an initial capacity of 30,000 barrels per day. Additionally, the Lobito and Soyo refinery projects are under development, with Angola seeking investors to accelerate their completion.

Bráulio de Brito, President of AECIPA, emphasized the role of this initiative “in developing local content, particularly in training national staff, implementing innovative and robust equipment and technology in Angola and Angolan companies, as well as in the growing openness of national banks to seriously consider projects and national entrepreneurs in the sector.”

The President of AECIPA also stated that “I hope the sixth edition of Angola Oil & Gas will break all records for business and professional participation, both international and national, and that it will be a moment to celebrate the country, the industry, and all those who, at the governmental and business levels, make it happen in Angola.”

Meanwhile, Luís Conde, Conference Director at Energy Capital & Power, summed up the spirit of the event by stating, “In honor of this golden jubilee, the Angola Oil & Gas 2025 Conference will celebrate Angola’s legacy as one of the undisputed leaders in the oil and gas sector in Africa, while looking toward a future filled with opportunities. The event will transform today’s conversations into partnerships, investments, and key contracts for the next 50 years.”

Registrations for AOG 2025 are now open. To secure your spot and learn more about the event, visit: https://AngolaOilAndGas.com/.

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

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