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Gas, Private Sector and Free Market Investments Crucial for South Africa to Address Electricity Crisis

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African Energy Chamber

The African Energy Chamber believes increased focus on gas development and exploitation as well as private sector participation in the energy sector is crucial for South Africa to address its electricity crisis

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

South African President H.E Cyril Ramaphosa has declared a National State of Disaster over the Southern African country’s electricity crisis during the State of the Nation Address held in Cape Town on February 9.

Measures set to be introduced to reform the electricity crisis during the National State of Disaster will include the introduction of a new Ministry of Electricity in the Presidency to oversee the revitalization of Eskom’s operations and the country’s generation capacity.

The African Energy Chamber (AEC) (www.EnergyChamber.org), as the voice of the African energy sector, supports the President’s commitment to address the country’s electricity crisis but massive reforms from an investment and policy perspective need to be implemented to restore confidence among local, regional and global businesses for them to invest in the country’s energy sector.

With consumers in Africa’s third-largest, most industrialized and technologically advanced economy witnessing more than eight hours of blackouts per day, the AEC strongly recommends President Ramaphosa and the South African Government to accelerate the country’s gas agenda, as both a short- and long-term strategy to alleviate the looming electricity crisis.

South Africa’s gas reserves are immense and remain untapped, with massive discoveries including TotalEnergies’ Brulpadda and Luiperd prospects containing combined reserves of 3.4 trillion cubic feet of gas and 192 million barrels of gas condensate. With TotalEnergies having applied for a production license to develop gas fields offshore South Africa, the Chamber is calling for the government to fast-track the permit approval and kickstart the country’s journey towards energy resilience and security.

Massive projects such as Gigajoule’s $550-million Matola Liquefied Natural Gas Project in Mozambique, which will supply South Africa with gas; the 865-km Rompco Gas Pipeline from Mozambique to South Africa; and Renergen’s Virginia LNG project in South Africa are crucial and need to be fast-tracked.

More oil and gas exploration, development and exploitation remains key if South Africa is to achieve energy security and economic growth

Meanwhile, capital spending in global upstream oil and gas projects will record a 10% increase in 2023 compared to 2022 levels, according to Wood Mackenzie. The sizable potential of new and large-scale gas discoveries across South Africa’s hydrocarbon-rich Orange Basin presents an ideal opportunity for the country to capitalize on this investment momentum and attract interest from international explorers.

While the so-called environmental lobbyists try to block efforts by Shell to unlock South Africa’s upstream potential, the AEC believes more oil and gas exploration is key to ending the electricity crisis, and as such, is strongly advocating for South Africa to create an enabling environment for more oil and gas exploration to take place.

Furthermore, while South Africa has been proficient at leveraging private-public sector partnerships to date, now more than ever is the time for the government to drive more private sector participation in the financing, development and rollout of domestic gas infrastructure – both to facilitate LNG imports from neighboring producers like Mozambique, Equatorial Guinea and the Republic of the Congo, as well as harness its own reserves. The Chamber believes free markets and private sector investments are vital to address the South African energy crisis.

While the impacts of the electricity crisis are significant, with the South African economy losing up to R900 million per day due to load shedding, coal has a crucial role to play in stabilizing the country’s energy sector and business environment. We believe more coal power generation and the rejuvenation of existing coal facilities, while accelerating renewable energy deployment, is essential to end the electricity crisis.

“South Africa should be careful about demonizing its domestic oil and gas resources. The war against fossil fuels needs to come to an end if we are to address South Africa’s electricity crisis. More oil and gas exploration, development and exploitation remains key if South Africa is to achieve energy security and economic growth. Government should fast track permit approvals for more drilling, seismic surveys, pipeline developments, as well as for new LNG terminals to be constructed,” stated NJ Ayuk, the Executive Chairman of the AEC.

In this regard, with African energy stakeholders meeting with European investors at the upcoming Invest in African Energy Frankfurt Reception (https://apo-opa.info/3xceQcJ) – organized by the AEC and taking place at Frankfurter Botschaft in Germany on February 23 – South Africa’s energy policymakers, investors and project developers will have a strategic opportunity to showcase the country’s gas market potential.

Moreover, South Africa will host the African Energy Week 2023 Conference & Exhibition (www.AECWeek.com) – Africa’s premier event for the energy sector, taking place on October 16 – 20 in Cape Town – which will unite regional and global energy leaders, decision-makers and financiers to explore investment opportunities across the country’s entire natural gas value chain.

Distributed by APO Group on behalf of African Energy Chamber.

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Africa Launches the First Pan-African Pact for Insurance Inclusion

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June 23, 2026

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400 decision-makers gathered in Cotonou to accelerate access to insurance and contribute to doubling insurance penetration by 2040

DAKAR, Senegal, June 23, 2026/APO Group/ –Faced with a major paradox representing nearly 19% of the world’s population while accounting for less than 1% of global insurance premiums African insurance stakeholders are mobilizing.

 

From July 6 to 8, 2026, the Federation of African National Insurance Companies (FANAF) will organize the General Assembly on Insurance for All at the Sofitel Hotel in Cotonou, Benin, a major pan-African gathering dedicated to inclusive insurance.

The event will bring together nearly 400 African decision-makers from governments, regulatory and supervisory authorities, insurance and reinsurance companies, financial institutions, development banks, technical and financial partners, as well as professional organizations from across the continent.

The ambition is clear: to foster a shared vision and concrete commitments aimed at accelerating access to insurance for African populations while strengthening the sector’s contribution to the continent’s economic and social development priorities.

The discussions will culminate in the adoption of the Pan-African Pact for Insurance Inclusion and a 2026–2030 Strategic Action Plan, designed to structure collective action around an ambitious objective: contributing to the doubling of insurance penetration across the FANAF region by 2040.

An Economic, Social and Development Imperative

Within the CIMA zone, insurance penetration remains below 1% of GDP, compared to more than 6% globally.

As a result, millions of households, farmers, entrepreneurs, SMEs and informal sector actors remain deprived of essential protection mechanisms against health, climate, economic and social risks.

For FANAF, this reality now constitutes a major development challenge.

Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments

“Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments. The Cotonou General Assembly must mark the starting point of a new continental ambition for African insurance and its role in the continent’s economic transformation,” said Mamadou Koné, President of FANAF.

Beyond Insurance: A Driver of Continental Transformation

For FANAF, insurance is no longer merely a risk coverage mechanism. It is also a strategic lever for economic resilience, savings mobilization, investment security, SME financing, support for climate transitions and the strengthening of financial inclusion.

Through this General Assembly, FANAF seeks to reposition insurance as a key stakeholder in Africa’s economic, social and financial transformation.

A Pact to Accelerate Action

The conclusions of the General Assembly will lead to the adoption of the Pan-African Pact for Insurance Inclusion, a reference framework intended to mobilize governments, regulators, market players, financial institutions and development partners around shared objectives.

The Pact will be accompanied by a 2026–2030 Strategic Action Plan defining priority intervention areas, coordination mechanisms and monitoring arrangements for the commitments undertaken.

A broad mobilization of public, private and financial partners will support its implementation in order to translate commitments into tangible results for African populations and economies.

Cotonou 2026: Building a Shared Vision

Beyond the insurance sector, the General Assembly aims to create an unprecedented platform for dialogue between governments, regulators, investors, financial institutions, technical partners and market actors in order to identify the levers needed to accelerate insurance inclusion across the continent.

Holding this event in Benin reflects the country’s broader economic and financial transformation momentum and illustrates the collective determination of African stakeholders to develop solutions tailored to the continent’s realities.

Through this initiative, FANAF intends to make Cotonou 2026 a defining moment for the future of African insurance and the starting point of a lasting continental mobilization in favor of insurance inclusion.

Distributed by APO Group on behalf of Fédération des Sociétés d’Assurances de Droit National Africaines (FANAF).

 

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Flat6Labs and International Finance Corporation (IFC) Launch StartAlgeria, a Capacity-Building Program Designed to Empower the Organizations Progressing Algeria’s Startup Ecosystem

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June 23, 2026

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StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices

ALGIERS, Algeria, June 23, 2026/APO Group/ –Flat6Labs (www.Flat6Labs.com) and IFC in collaboration with the Ministry of Knowledge Economy, Startups and Micro-Enterprises are launching StartAlgeria, a capacity-building program that puts Entrepreneur Support Organizations (ESOs) at the forefront of Algeria’s ecosystem future. The program is designed to equip Algerian ESOs reinforcing pre-seed and seed-stage startups with the expertise, frameworks, and networks needed to contribute to a stronger, more competitive entrepreneurship ecosystem in Algeria and expand into global markets.

 

StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices adapted to each organization’s needs, a community-driven approach that focuses on peer learning, and facilitating connections with investors, policymakers, and key stakeholders.

Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale

StartAlgeria will pilot a first cohort focusing on incubators in the capital, Algiers. Following a call for application, the selected ESOs will go through a structured program comprising workshops and masterclasses covering key areas such as startup selection, program design and delivery, and investment readiness. In addition to the core program, participating ESOs will benefit from 6months of post-program mentorship, focusing on areas such as fundraising strategy, partnership development, financial sustainability, and program improvement. This sustained engagement’s goal is to provide a lasting impact in how Algerian ESOs operate and what they’re able to offer the startups they champion.

Yehia Houry, CEO of Flat6Labs, shares “Algeria’s startup ecosystem is demonstrating remarkable potential and a rapidly growing level of maturity, driven by an ambitious new generation of founders, increasing institutional support, and a strong national commitment to innovation and entrepreneurship. The opportunity today lies in further empowering entrepreneurship support organizations to match this momentum by strengthening their ability to identify and nurture high-potential startups, deliver impactful and results-driven programs, and create stronger connections between entrepreneurs and sources of capital. With the right support structures in place, Algeria is well positioned to become one of the leading innovation hubs in the region.”

“Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale. Through StartAlgeria, we are committed to ensuring that the organizations standing behind founders are equipped with the tools, frameworks, and expertise to take them from early ideas to investment-ready ventures. This program is a direct expression of IFC’s long-term confidence in Algeria’s private sector and in the ecosystem’s capacity to produce the next generation of high-impact companies.” underscored Cemile Hacibeyoglu Ceren, WBG Resident Representative in Algeria.

“The launch of StartAlgeria marks an important step in reinforcing Algeria’s startup support ecosystem. By strengthening the capabilities of Entrepreneur Support Organizations, we are investing in the long-term growth, resilience, and international competitiveness of Algerian startups. This initiative reflects our shared ambition to build a dynamic innovation-driven economy and create new opportunities for entrepreneurs across the country,” said H.E Mr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro-Enterprises.

This IFC program is implemented in partnership with the Government of the Netherlands.

Distributed by APO Group on behalf of Flat6Labs.

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Hong Kong unlocks new opportunities with Central Asia

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16 hours ago

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June 23, 2026

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HONG KONG SAR – Media OutReach Newswire – 23 June 2026 – Led by Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, a high-level delegation visit to Kazakhstan and Uzbekistan (May 31 – June 5) is already paying dividends, forging fresh opportunities to deepen ties between Central Asia, Hong Kong and the Chinese Mainland.

The business delegation comprised over 70 representatives from Hong Kong and Mainland enterprises of various sectors.

During the visit, 96 bilateral memoranda of understanding and agreements were reached, including a total of 15 co-operation documents at the government level between Kazakhstan and Uzbekistan respectively.

“The examples of agreements and co-operation are just so abundant that they range from the service sector to heavy industries such as mining and infrastructure development,” Mr Lee said. “I think the sky is the limit.”

The multiple outcomes achieved during the trip demonstrate Hong Kong’s role as a functional platform for the Belt and Road (B&R) Initiative, as the city actively plays its roles as a “super connector” and “super value-adder” to promote broader and deeper co-operation between the two places and establish a hub-to-hub co-operation model.

“Kazakhstan is an important commercial and logistics hub connecting China and Europe. It is also the place where the Belt and Road Initiative was first proposed, and is Hong Kong’s largest trading partner in Central Asia. There are broad prospects for further co-operation,” Mr Lee said, adding that a lot of B&R projects are also being pursued in Uzbekistan.

“For example, Uzbekistan sits in the heart of the corridor of Asia and Europe, so logistical development, railway development, and also how we can complement and supplement each other in cargo handling will be an area for a very wide range of co-operation.”

The Chief Executive also encouraged companies in Central Asia to leverage Hong Kong’s advantages under the “one country, two systems” principle.

“Under this unique principle, Hong Kong has its own economic, social, legal, legislative and judicial systems. We are the only common law jurisdiction in China. We have our own currency, with no capital or foreign exchange controls. We are, as well, a separate customs territory,” Mr Lee said.

Building on the positive outcomes from the delegation’s mission to Central Asia, Mr Lee welcomed the Deputy Prime Minister of Kazakhstan, Kanat Bozumbayev, to Hong Kong (June 10) and they both attended the Alatau City Investment Round Table (June 11).

Speaking at the event, Mr Lee said Hong Kong could contribute to the future success of Kazakhstan’s innovative, high-tech Alatau City in three concrete ways: as a gateway to global capital; a gateway to the Chinese Mainland and the Greater Bay Area; and as a partner in talent and technology.

“We share a development vision with Alatau City and Kazakhstan,” Mr Lee said, “Today, right here, right now, is a golden opportunity to bring our two economies closer together.”

He looked forward to Hong Kong and Kazakhstan achieving complementary advantages and co-ordinated development across different sectors and welcomed enterprises in Kazakhstan to make good use of Hong Kong’s premier financial and innovation and technology platforms, as well as its world-leading professional services, to explore more business opportunities.

 

 

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