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Namibia’s Cabinet Approves Upstream Local Content Policy, Marking a Turning Point for the Industry

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With the nation on track for first oil production by 2029, the local content policy aims to ensure that Namibia’s oil wealth benefits its citizens by integrating local businesses and workforce into the value chain

JOHANNESBURG, South Africa, December 4, 2024/APO Group/ — 

In a strategic move for the industry, Namibia’s cabinet has approved the National Upstream Local Content Policy. The progressive policy is set to play a crucial role in reducing the nation’s dependency on foreign expertise by focusing on the development of local capacity. Aimed at strengthening economic sovereignty and empowering Namibians within the country’s oil and gas industry, the policy marks a turning point for the country as it targets first oil production by 2029.

The African Energy Chamber (AEC) – serving as the voice of the African energy sector – commends the Namibian government’s proactive stance on local content and its dedication to empowering local communities while maintaining a welcoming environment for foreign investment. It is clear that the policy is designed to balance the interests of local stakeholders with the needs of international oil companies, a model that other African nations can look to for guidance.

Namibia is preparing to start oil production from the Venus and Graff discoveries by 2029, with the Mopane field potentially bringing this production timeline much closer. Since 2022, the country has made a string of major discoveries in the Orange Basin. These include Graff-1X, Venus-1X, Jonker-1X, Lesedi-1X and Mopane-1X, among others. International energy companies including TotalEnergies, Shell and Galp Energias are leading the charge, with Galp recently spudding the Mopane-1A well as part of a four-well appraisal campaign. Work is ongoing to finalize timelines for Final Investment Decision (FID) and production, with FID for Venus-1X and Graff-1X is expected by the end of 2024, reinforcing the country’s growing oil potential.

It’s a powerful example for the rest of Africa of how to leverage oil and gas discoveries to fuel long-term development, job creation and economic growth

With this recent surge, the government has recognized the urgency of maximizing the involvement of local businesses, labor and resources in the nation’s oil and gas sector. The National Upstream Petroleum Local Content Policy aims to create a globally competitive supply chain while promoting sustainable development, energy independence and technological expertise within the country.

This policy addresses the unique challenges faced by Namibia’s upstream petroleum sector, which is capital-intensive, technologically driven and reliant on high-risk investments over long periods. Traditionally, such a sector tends to have a low level of local employment and a heavy reliance on imported goods and services. To counteract this, the policy is designed to ensure that Namibian businesses and workers are fully integrated into the petroleum value chain, from exploration and production to service delivery and technology provision.

One of the key features of the policy is its alignment with Namibia’s broader development frameworks, such as the National Development Plan, the Harambee Prosperity Plan and Vision 2030. These strategies underscore the goal of an industrialized economy driven by Namibians, where local expertise and resources play a central role. Through this policy, Namibia aims to encourage the participation of local companies in procurement, manufacturing and service provision, ultimately ensuring that the benefits of the country’s oil and gas wealth remain within its borders.

As part of the initiative, oil operators will be required to submit detailed ‘Local Content Plans’ when applying for exploration and production licenses. These plans will outline the operators’ commitments to hiring local labor, engaging local businesses for goods and services and investing in the training and development of Namibian workers. The Ministry of Mines and Energy will oversee compliance and enforcement, ensuring that the policy’s objectives are met and that Namibian participation in the oil and gas industry is maximized.

The policy also emphasizes the importance of a stable and transparent regulatory environment, which will provide clarity to investors and operators while fostering an atmosphere of trust and cooperation. By ensuring that local content requirements are clear and enforceable, the policy aims to attract responsible investment that benefits both the oil companies and the Namibian people.

“With first oil production set to begin by 2029 and discoveries already exceeding 11 billion barrels, the implementation of this policy is essential,” says NJ Ayuk, Executive Chairman of the AEC. “It’s a powerful example for the rest of Africa of how to leverage oil and gas discoveries to fuel long-term development, job creation and economic growth. As the policy moves towards implementation, the focus on local content, job creation and economic diversification is a testament to Namibia’s vision of becoming a key player in Africa’s energy sector, with its people at the heart of this transformation.”

Distributed by APO Group on behalf of African Energy Chamber.

Business

5 Investment Opportunities Putting Congo Energy & Investment Forum (CEIF) 2027 on the Map for Central Africa

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CEIF 2027 connects investors with Congo’s energy projects and local partners, while providing entry points for commercial opportunities across Central Africa

BRAZZAVILLE, Republic of the Congo, November 2, 2026/APO Group/ –The Republic of Congo’s expanding oil and gas developments are creating new opportunities for investment, engineering contracts and commercial partnerships across the energy value chain. With offshore discoveries, mature-field redevelopment and three million tons per year of LNG capacity, the country is entering a new phase of energy development that requires capital, technology and international partnerships.

 




 
 

The Congo Energy & Investment Forum (CEIF) 2027, taking place June 1-3 in Brazzaville, will serve as the official platform connecting Central African energy decision-makers, operators, investors and service companies. Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, the forum will bring together public- and private-sector stakeholders to advance investment discussions, facilitate partnerships and connect companies with emerging opportunities across the region.

Connect With Central Africa’s Energy Decision-Makers

CEIF 2027 will provide a platform to engage directly with Congolese authorities, regulators, national energy companies and policymakers shaping the region’s energy investment landscape. Taking place in partnership with the Ministry of Hydrocarbons, the event offers a bridge between the country’s policymakers and public- and private-sector companies. Conversations with decision-makers can help investors understand national development priorities, gain insight into the regulatory environment and identify opportunities for market entry or expansion.

Capitalize on Congo’s Upstream Investment and Production Ambitions

As Congo targets production growth toward 500,000 barrels per day, operators are pursuing new exploration and mature-field redevelopment to increase output. TotalEnergies’ 2026 Moho G discovery could unlock an estimated 100 million barrels of recoverable resources alongside the existing Moho F development, illustrating the potential to connect new discoveries to established offshore infrastructure. Meanwhile, Perenco and Trident Energy are pursuing development and redevelopment opportunities across mature assets, including well reactivation and infrastructure upgrades.

These activities could create opportunities for drilling contractors, engineering firms and production technology providers. CEIF 2027 offers a platform to explore project requirements and investment opportunities across Congo’s upstream sector.

Unlock Opportunities Across LNG, Gas and Power Infrastructure

With LNG exports established and liquefaction capacity reaching three million tons per year in 2026, Congo is looking towards its next phase of gas development. This will depend on sustaining feedgas supplies, connecting additional resources and expanding infrastructure.

Beyond LNG, Congo’s plans to expand electricity generation and improve transmission and distribution infrastructure present opportunities for power developers, equipment suppliers and investors. These priorities create potential opportunities for upstream operators, engineering companies, technology providers and investors interested in gas processing, power generation and distribution. CEIF provides a platform to advance these priorities.

Showcase Solutions and Build Commercial Partnerships at the Exhibition

The CEIF 2027 exhibition will provide a platform for companies to showcase their technologies, equipment and services directly to energy operators, policymakers, investors and potential clients across Central Africa.

Exhibitors will have opportunities to demonstrate solutions, engage with local service providers and identify potential partnerships across drilling, engineering, infrastructure and energy technology. For companies seeking to enter or expand in the region, the exhibition offers a direct route to building commercial relationships, exploring procurement opportunities and positioning their services for upcoming projects.

Access New Projects and Financing Opportunities

Turning project opportunities into investments requires clarity on development priorities, infrastructure requirements and financing structures. CEIF’s discussions will give participants an opportunity to assess the projects shaping Congo’s energy sector and engage with potential commercial and institutional counterparts.

Investors, lenders and project developers can use these exchanges to identify areas where financing, technical expertise or new investment structures may help advance projects across oil and gas, power generation and downstream industries.

Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, CEIF 2027 will enable candid dialogue, facilitating new investments and deals in the country’s energy sector. For more information, visit www.congoenergyinvestment.com.

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

 




 

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Afreximbank supports Veenocks’ US$145 million project for industrial expansion and regional growth

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Afreximbank

PPF-funded studies enabled Veenocks to broaden its medium-term regional growth plans, while a US$81.9 million senior loan supports an expansion expected to triple annual production capacity

CAIRO, Egypt, November 2, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has supported the development and expansion of Veenocks Limited’s porcelain tile manufacturing plant in Sagamu, Ogun State, Nigeria, through its Project Preparation Facility (PPF) and a US$81.9 million senior term loan. The project has a total estimated cost of US$145 million.
 




 

Afreximbank and Veenocks signed a US$2 million project preparation facility agreement in August 2024 to finance technical, commercial, financial, legal, environmental and social studies needed to establish the project’s bankability.

The studies financed through the PPF, complemented by Afreximbank’s pan-African experience, enabled Veenocks to broaden its growth ambitions beyond its primary focus on the Nigerian market. This support informed the company’s plans to pursue regional opportunities over the medium term, with target markets including Togo, Benin, Burkina Faso, Niger, Cameroon, Ghana, Mauritania and Senegal.

The Bank’s US$81.9 million senior term loan supports implementation of the plant’s expansion, providing financing for investment in additional manufacturing capacity. The expansion is expected to increase the plant’s total annual production capacity from 3.3 million to 9.9 million square metres, creating a stronger production base to meet domestic demand and pursue regional opportunities.

Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment

The existing plant employs more than 200 people directly. The expansion is expected to create an additional 300 direct jobs, alongside indirect employment across raw material supply, logistics and distribution.

The preparation financing has been fully repaid from senior debt, completing the PPF’s funding cycle for Veenocks and replenishing capital to support further projects.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, said:

“Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment. The studies financed through Afreximbank’s Project Preparation Facility have helped strengthen the project’s bankability and broaden the company’s regional growth ambitions. Our senior debt financing supports the plant expansion needed to convert those ambitions into increased productive capacity, and stronger foundations for intra-African trade.”

Mrs. Awani added: “Full repayment of the preparation financing ensures capital is available to support more indigenous African investors and projects. This is the PPF’s revolving model in practice: the funds that have been repaid are used to support initiatives that add value to local resources and expand manufacturing.”

Mr. Adebisi Abidemi Adebutu, Group President of R28 Holdings, the parent company of Veenocks Limited, said:

“This investment represents an important step towards our ambition of building a globally competitive manufacturing business in Nigeria, producing world-class tiles to European quality standards and reducing Nigeria’s dependence on imported tiles. The PPF was instrumental in broadening our growth plans and positioning us to penetrate regional markets over the medium term. With Afreximbank’s financing, we can now deliver the expansion phase of this project. The facility will allow us to add value to Nigeria’s raw materials, create quality jobs and increase the supply of our porcelain tiles, manufactured here in Nigeria, to customers at home and across the region. Our vision is to set the global benchmark for quality in tile manufacturing and to become Africa’s first choice for porcelain tiles.”

Distributed by APO Group on behalf of Afreximbank.

 




 

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Energy

Energy costs, storage value and industrial competitiveness led Day 2 of C&I Energy + Storage Summit

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Energy

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains

JOHANNESBURG, South Africa, November 2, 2026/APO Group/ –How can South African businesses turn energy investment into lower operating costs, stronger resilience and long-term competitiveness? This question drove the second day of VUKA Group’s (https://WeAreVUKA.com/) C&I Energy + Storage Summit in Johannesburg, with discussions examining the commercial value of storage, industrial energy strategies and the infrastructure needed to support Africa’s growing digital economy.

 




  

The programme brought together business leaders, energy specialists, financiers and public-sector representatives to address practical decisions facing commercial and industrial users, alongside the EIUG Conference, Water Security Africa and Data Centre Summit.

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains.

Energy storage featured prominently, with panellists examining how tariff optimisation, peak shaving and renewable energy integration can strengthen its value beyond backup power. The investment case, however, needs to account for battery degradation, warranties and operational risk.

Addressing the attendees, Junaid Munshi, Group Executive: Distribution for Eskom told the audience: “For an industrial business, solar and storage can improve the energy cost position. But the opportunity extends beyond the customer’s electricity bill. Where network capacity is constrained, coordinated battery use may relieve pressure on the infrastructure serving that business and, where proven technically dependable, could defer or reduce grid investment. The asset behind your meter can therefore also become a resource beyond it.”

The asset behind your meter can therefore also become a resource beyond it

The EIUG session “Industrialisation under threat?” put changing electricity consumption under scrutiny, asking whether lower demand reflected efficiency gains or weakening industrial output. Tariffs, investment conditions and industrial growth remained central to the discussion, highlighting the need to assess energy trends against the health of the wider economy.

At the Data Centre Summit, Africa’s AI ambitions brought power availability and infrastructure readiness into focus. Discussions on grid access, wheeling and network investment highlighted the importance of planning digital growth alongside the electricity infrastructure needed to sustain it.

For businesses developing energy projects, public-private engagement sessions explored infrastructure co-investment, municipal coordination and workable wheeling agreements.

Water Security Africa reinforced the wider resource-security challenge through industrial resilience case studies, digital water technologies and lessons from case studies.

Across the discussions, the practical message was consistent: competitive businesses need more than access to technology and capital. They also need reliable infrastructure, workable commercial arrangements and coordinated delivery.

The afternoon programme translated these themes into business decisions. “The C&I energy playbook” drew together insights from across the summit, while the closing “decision clinic” addressed real project challenges, from choosing between onsite solar and wheeled power to sizing batteries and preparing projects for financing. Experts from DBSA, Standard Bank, SustainableDNA and the City of Tshwane contributed practical guidance.

Download the programme to review the full Day 2 agenda and participating speakers: https://apo-opa.co/4eEKq9a

Distributed by APO Group on behalf of VUKA Group.

 




 

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