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India Accelerates Energy Push into Africa as Global Markets Shift

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Amid declining Russian oil imports and rising energy demand, India is ramping up investments across Africa’s oil, gas and renewables sectors — with African Energy Week 2025: Invest in African Energies set to deepen Africa’s partnership with this key G20 nation

CAPE TOWN, South Africa, April 23, 2025/APO Group/ –India is increasingly turning to Africa as a strategic partner in its efforts to diversify energy sources and secure future supply. This shift in focus comes as India’s crude oil imports from Russia fell to a two-year low in February 2025, prompting a renewed push to diversify its sources of energy. According to Reuters, India’s oil imports from African nations rose dramatically to about 330,000 barrels per day (bpd) in February, more than doubling from 143,000 bpd in January.

This month, Indian Oil Corporation (IOC), one of the country’s top refiners, is set to receive two million barrels of Nigeria’s Okwuibome crude, alongside one million barrels each from Nigeria’s Akpo and Angola’s Mostarda fields. This growing engagement reflects Africa’s strategic position within the G20 framework, as the continent continues to strengthen ties with G20 countries and solidify its role as a key partner in global energy security.

New Investments

India’s shift toward Africa is also being seen through its latest investments. Last month, ONGC sanctioned a $175 million loan to support the Area 1 Mozambique Project. Three Indian state-run companies – ONGC Videsh, Bharat Petroleum Corporation Ltd. (BPCL) and Oil India Ltd –  hold a combined 30% stake in the project. The project targets 75 trillion cubic feet of recoverable natural gas, with Area 1 encompassing major gas fields such as Windjammer, Barquentine, Lagosta, Camarão, Golfinho, Orca and Atum. In December 2024, BPCL announced plans to invest approximately $32.9 billion on its exploration and production blocks in Mozambique and Brazil, further solidifying India’s growing role in Africa’s energy landscape and showcasing its commitment to expanding energy partnerships on the continent.

The country is also turning its focus to Nigeria, where it has been involved in small-scale refining opportunities, including a chemicals and fertilizer plant, and made a $14 billion investment pledge in 2023. Speaking at CERAWeek in Houston last month, ONGC reaffirmed India’s focus on increasing investments in Africa, as well as the Middle East and Latin America. In response to this strategic shift, the Nigerian National Petroleum Corporation has urged Indian investors to capitalize on opportunities in Nigeria’s oil and gas sector, especially in refining and natural gas. With attractive reforms in place, Nigeria is eager to expand its refining capacity and reduce dependency on imported refined products.

Support for Renewables

In addition to fossil fuels, Indian companies are positioning themselves as key players in Africa’s energy transition to renewable sources. Egypt is currently in discussions with Indian renewable energy company ReNew Energy to develop a $8 billion green hydrogen project in the Suez Canal Economic Zone, aiming to produce 220,000 tons of green hydrogen annually upon completion and establish Egypt as a regional clean energy hub. Meanwhile, the International Solar Alliance’s (ISA) Global Solar Facility – which aims to provide clean energy access to 200 million Africans by 2030 – recently received a $25 million funding boost from the Indian government. ISA is working to replicate India’s solar energy success across Africa, with 30 solar-focused projects currently under development across the continent.

In parallel, Indian financial institutions are stepping up support for Africa’s renewable energy infrastructure. In December 2024, the Africa Finance Corporation (AFC) secured a $300 million syndicated loan from a consortium of Indian banks to fund renewable energy projects and broader infrastructure development across the continent. The deal marked a milestone in AFC’s efforts to diversify its international investor base, highlighting a growing appetite for African opportunities and introducing several Indian lenders to the continent – many of whom were participating for the first time.

Further Energy Collaboration

Amid this expanding engagement, African Energy Week 2025: Invest in African Energies will play a pivotal role in deepening India’s energy partnerships with Africa. The conference, taking place on September 29–October 3, 2025 in Cape Town, will feature high-level panels, deal signings, project showcases and investor forums aimed at fostering cross-border collaboration and partnerships.

With more than 10 African nations launching new licensing rounds and farm-in opportunities, the continent is becoming an increasingly attractive destination for Indian exploration and production firms. Additionally, downstream projects – including pipelines, refineries, and storage infrastructure – further enhance the scope for Indian investment. As India looks to diversify its energy sources and secure long-term supply chains, Africa presents a strategic opportunity to deepen its energy partnerships and expand its footprint in the global energy market.

Distributed by APO Group on behalf of African Energy Chamber

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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