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It is Criminal for Africans to Abandon Oil and Gas, OPEC President Gabriel Mbaga Obiang Lima Reiterates

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OPEC

Speaking during the U.S.-Africa Leaders Summit this week, Equatorial Guinea Minister of Mines and Hydrocarbons, and OPEC President for 2023, H.E. Gabriel Mbaga Obiang Lima, reiterated that it is criminal for the African continent to abandon its oil and gas resources, citing energy poverty and a just transition as key factors

JOHANNESBURG, South Africa, December 15, 2022/APO Group/ — 

Speaking during the U.S.-Africa Leaders Summit, having taken place in Washington D.C. on 13 December, Equatorial Guinea’s Minister of Mines and Hydrocarbons and OPEC President for 2023, H.E. Gabriel Mbaga Obiang Lima, discussed the importance of oil and gas development in Africa and how exploitation of the continent’s natural resources will serve to reduce energy poverty while establishing an independent path towards a just and inclusive energy transition.

With calls by Western forces for Africa to shift immediately away from the use of fossil fuels, H.E. Minister Lima discussed how mounting pressure to abandon the continent’s natural resources have impacted Africa’s socioeconomic development. With dwindling oil and gas projects and major divestments occurring throughout the industry, Africa’s vast, newly discovered oil and natural gas assets are threatened.

“What we are not going to do, is abandon a resource that can change our countries,” Minister Obiang Lima stated, adding, “We will continue drilling because we need it. Anyone asking African countries not to develop fossil fuels, is criminal. It is criminal because they are telling us that we do not have the right to develop. The largest number of members of OPEC, this year, are African countries. Mozambique is going to become the biggest supplier of gas, Senegal will become a big supplier of gas, Nigeria and Equatorial Guinea will become big suppliers of gas. So, what you will have in 2035, you will have the African continent serving as the biggest supplier of oil and gas.”

The Minister argued that fossil fuels have an important role to play in the global energy transition and stand to bring reliable energy to the hundreds of millions – 600 million in sub-Saharan Africa – of Africans who lack access to energy. As a catalyst for industrialization, economic growth, and greater stability for Africa, the exploitation of fossil fuels will be used to expand the continent’s wealth and energy security.

Whoever is willing to come to our country to help us develop our resources, you will be welcomed

“We are not responsible for the climate crisis; the climate crisis has two players: the producers and the consumers,” the Minister stressed, highlighting, “And what’s driving it, is the demand. You need the resources to be able to develop and we will continue to do so. Whoever is willing to come to our country and develop, I guarantee you, you will make money.”

Serving as one of the continent’s most significant impediments to socioeconomic development, energy poverty eradication will require an immense, concerted effort, and necessitates the utilization of all energy resources available within Africa. As such, natural gas, which is found in abundance throughout Africa, will be a crucial tool to decarbonize the continent in pursuit of global climate sustainability goals.

“Whoever is willing to come to our country to help us develop our resources, you will be welcomed,” Obiang Lima concluded.

Calling on African governments to push back on the attempts by Western powers to prohibit the continent from paving the way for its own energy transition, Obiang Lima highlighted how oil and natural gas revenue, gas-to-power projects, and intercontinental collaboration can allow the continent to fully capitalize on the jobs and economic prospects associated with resource development and thus lead to a just and equitable energy transition.

African countries have embraced a message of Drill Baby Drill and Gas Baby Gas as a pathway to Making Energy Poverty History and defeating Climate Change given Africa’s low greenhouse gas emissions and the need to industrialize as promoted by the African Energy Chamber.  A cravenly pro energy position that has become the rallying cry of many Africans against wealthy countries pushing for Africans to leave their resources.

Distributed by APO Group on behalf of African Energy Week (AEW).

Business

Afreximbank Backs DOTT Services Limited, Uganda with a US$28 Million Facility for Regional Engineering, Procurement and Construction (EPC) Projects

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The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains

CAIRO, Egypt, November 4, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has activated and approved a US$28 million dual-tranche facility for DOTT Services Limited, the leading Uganda-based engineering, procurement and construction (EPC) contractor, and has begun disbursing funds to support the execution of its EPC projects pipeline, valued at more than US$550 million.

 




 
 

Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. Specifically, the financing will support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately US$550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo.

Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa office, said:

Through the initiative, the Bank provides support, including financing, twinning and matchmaking

“This facility reflects Afreximbank’s commitment to building strong African EPC champions capable of delivering the infrastructure that underpins Africa’s industrialisation, trade and economic integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations across five African countries, we are addressing a critical financing gap that has historically constrained the ability of African firms to participate meaningfully in large-scale, cross-border infrastructure projects.

The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains. It also advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to increase African participation in the development and delivery of Africa’s infrastructure.

Through partnerships such as this, we are ensuring that greater value, expertise, employment opportunities and economic benefits are retained within Africa while fostering the emergence of globally competitive African contractors.”

Mr. Nwugo further noted that most local commercial banks lacked the capacity to support intra-African and regional projects because they were poorly placed to absorb the associated cross-border risks, while international banks tended to prioritise non-African contractors. As a result, African entities were often left without adequate financial support.

He said: “Afreximbank’s EPC Initiative was therefore designed to address this challenge by supporting African EPC contractors in securing and executing a greater share of infrastructure contracts across the continent. Through the initiative, the Bank provides support, including financing, twinning and matchmaking, as well as issuing letters of support, among others”, he explained.

DOTT Services Limited presence in Africa spans 28-years, with operations in Uganda, Tanzania, South Sudan, Zambia, and the Democratic Republic of Congo (DR Congo). It also has European offices in Italy and the UK, and a workforce of over 6,000 people. The company procures from, and distributes to, African countries goods such as bitumen, asphalt, steel and spare parts, as well as yellow goods equipment and services, making it a significant player in intra-African trade. Its track record of promoting trade-supporting infrastructure across the continent makes it a natural partner for Afreximbank’s EPC Contract Promotion Initiative, which seeks to build African EPC champions capable of delivering the infrastructure that underpins intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Coca-Cola Beverages Africa (CCBA) invests in Africa’s leadership potential through EDGE

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Coca-Cola

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business

JOHANNESBURG, South Africa, November 4, 2026/APO Group/ –Thirty-one leaders from across 12 African countries have graduated from Coca-Cola Beverages Africa’s (CCBA) (https://www.CCBAgroup.com) EDGE Senior Leadership Acceleration Programme, marking the completion of the programme’s second generation and the first pan-African EDGE cohort.

 




 
 

Created by CCBA, EDGE is the company’s flagship senior leadership development programme. Building on previous participation from The Coca-Cola Company, the programme was further expanded in 2026 to include leaders from Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, creating a broader pan-African learning experience across the Coca-Cola system.

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business.

The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system

The graduating cohort represented leaders from multiple countries and business functions. Through classroom learning, business projects, mentoring and coaching, participants gained practical experience in addressing real business opportunities and challenges.

With CCBA serving more than 840,000 customers across Africa, the company requires leaders who can navigate complexity and create value in diverse markets. EDGE helps build these capabilities through practical, business-focused learning.

“People are at the heart of everything we do, and programmes like EDGE demonstrate our commitment to investing in their growth and future success,” said Natasa Prodanovic, Chief People and Culture Officer at CCBA.

“The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system. By learning alongside colleagues from The Coca-Cola Company, Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, participants were able to build meaningful connections, share diverse perspectives and strengthen collaboration across our markets.”

The curriculum focused on strategy, value creation, transformation, commercial decision-making, leading self and leading teams. Participants also presented business projects aligned to organisational priorities as part of the programme’s graduation requirements.

EDGE forms part of CCBA’s broader commitment to developing future leaders and building the capabilities needed to drive sustainable growth and impact across Africa.

Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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Afreximbank

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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