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Global Oil Demand to Hit 120.1M Barrels Per Day (BPD) by 2050, Says Organization of Petroleum Exporting Countries (OPEC) at African Energy Week (AEW) 2024

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OPEC

Sharing insight into the recently-launched World Oil Outlook, OPEC underscored the role African producers will play in meeting the world’s rising demand for crude

CAPE TOWN, South Africa, November 8, 2024/APO Group/ — 

Global oil demand is projected to reach 120.1 million barrels per day (BPD) by 2050, while energy demand will rise 24% during the same period, says the Organization of Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais.

Delivering a keynote address at the African Energy Week: Invest in African Energies 2024 conference, Al Ghais said that African producers will play a central role in meeting rising demand.

To ensure security of supply to fuel this demand, our industries need to invest and boost investment levels significantly in the years to come

“Demand will be fueled by a world economy that is expected to more than double in size to more than $360 trillion by 2050. Driving this economic growth is the rapidly expanding world population, expected to reach 9.7 billion from the current 8 billion. Urbanization globally will continue to intensify. Over 600 million people are expected to move to new cities around the world, including Africa,” he said.

Al Ghais drew insight into OPEC’s recently-launched World Oil Outlook (WOO). Launched in September 2024, the 18th edition of the WOO featured a review and assessment of the medium- and long-term prospects for the global oil and energy sectors. The publication offers a comprehensive analysis of global supply and demand dynamics while taking into account the interplay between energy security, energy affordability and the need to reduce emissions. 

For Africa, which faces an energy crisis with over 600 million people lacking access to electricity and over 900 million people lacking access to clean cooking solutions, increasing oil and gas production is a fundamental requirement. As such, Al Ghais emphasizes the need to increase investment in oil and gas.

“Oil and gas will remain the predominant fuels in the energy mix. To ensure security of supply to fuel this demand, our industries need to invest and boost investment levels significantly in the years to come,” he explained.

However, Al Ghais pointed out that “For Africa, the future looks bright. It has an estimated 125 billion barrels of proven reserves of oil. It is vital that African countries develop these resources with access to the necessary funding and technology. This is vital for the economic and social development of the continent and its people.”

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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Business

Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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Business

ORUN and 1xBET Partner to Support a Dynamic Creative Africa

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MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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