Minister Ondo will ramp up investments in Equatorial Guinea’s upstream sector at African Energy Week, by showcasing the country’s profitable oil and gas prospects
JOHANNESBURG, South Africa, June 23, 2023/APO Group/ —
Equatorial Guinea’s Minister of Mines and Hydrocarbons and OPEC President Antonio Oburu Ondo is taking the lead in an upstream investment drive in Equatorial Guinea, positioning the country as the perfect destination for exploration activities. As a keynote speaker at the upcoming African Energy Week (AEW) 2023 conference in Cape Town from October 16-20, Minister Ondo will highlight the progress made in Equatorial Guinea and advocate for increased gas-directed investments this year and beyond.
Serving as President of OPEC and the Minister of Mines and Hydrocarbons, Ondo brings with him a wealth of experience, having previously served as the Managing Director of national oil company GEPetrol where he was instrumental in positioning the company as a major player in the regional energy industry. As such, he is well versed in the upstream sector and is the best person to lead Equatorial Guinea’s efforts in attracting major players into the country.
Despite having only been appointed Minister this year, Ondo has already made significant progress to expand Equatorial Guinea’s upstream industry. He signed three producing sharing contracts (PSC) in February 2023 – one with independent E&P company Panoro Energy and two with Africa Oil Corporation – whereby Panoro Energy was awarded a 56% sharing interest operatorship in Block EG-01 while the signing of duo-PSCs with Africa Oil Corporation enabled the company to enter the Equatorial Guinean market. With the PSCs, Africa Oil Corporation will own an 80% interest in Block EG-18 and EG-31, respectively. These partnerships signify the country’s openness to collaboration and as well as the massive potential in its upstream sector.
Another prominent upstream oil company that has recognized Equatorial Guinea as an exploration hotspot is Kosmos Energy. The company has focused on production optimization services, as well as infrastructure-led exploration in proven basins within Equatorial Guinea. Kosmos Energy’s achievements in Equatorial Guinea have been remarkable, leading to the firm and its partners securing an extension of the production sharing contract for Block G, with interests in blocks, EG-21, EG-24, and S. This significant milestone was made possible through collaboration with the Ministry of Mines and Hydrocarbons of Equatorial Guinea and is a testament to the country’s enabling and investor friendly environment.
“Minister Antonio Oburu Ondo has a long history of understanding the industry, and as such, he will help keep the market stable and continue working on attracting the necessary hydrocarbon-focused investments into the country, building on the progress that has already been achieved in Equatorial Guinea,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
AEW 2023 will provide an ideal platform for Ondo to bolster relations with international companies and neighbouring countries and the broader African continent
Equatorial Guinea has already positioned itself as an active player in the global oil and gas industry, exporting oil and gas to international markets. Additionally, the country is poised to play a vital role in the processing of liquefied natural gas (LNG) from neighbouring countries like Nigeria and Cameroon. This strategic positioning presents a unique opportunity for investors to participate in the development of a cross-border Mega-Gas-Hub. As such, the successful processing of LNG requires the expertise and investment of highly skilled companies and investors. With the Mega-Gas-Hub expected to see profitable results, it is in investors’ best interest to seize the opportunity to capitalize on this development.
In this scenario, Minister Ondo understands the importance of formulating a comprehensive plan that will ensure the profitability and success of these projects. AEW 2023 will provide an ideal platform for Ondo to bolster relations with international companies and neighbouring countries and the broader African continent, attracting potential investors who can contribute to the feasibility and prosperity of these initiatives.
Investors stand to benefit immensely from engaging in these projects, as they represent a massive investment opportunity with the potential to generate significant economic growth and prosperity. Equatorial Guinea’s commitment to becoming a regional energy powerhouse and its collaboration with neighbouring nations make it an attractive destination for investors seeking long-term returns and sustainable development.
With his deep understanding of the industry and his commitment to securing better fiscal terms, Minister Ondo is instrumental in enticing more explorers to invest in Equatorial Guinea, ultimately leading to increased production and further positioning the country as a preferred destination for upstream investment. AEW 2023 will therefore serve as a platform for Ondo to connect with stakeholders, African leaders, international and regional companies to incentivize new investment into the country’s upstream sector.
“Equatorial Guinea continues to make promising strides of becoming an oil and gas mega hub, and the chamber will continue to work closely with the Ministry of Mines and Hydrocarbons to realize their national objectives and support their drive to increase investments in its upstream sector. Equatoguinean resources, expertise and partnerships will be key for Africa’s energy future, and we look forward to seeing developments across all of these arenas during this year’s AEW conference,” adds Ayuk.
African Energy Week (AEW) is the African Energy Chamber’s (AEC) interactive exhibition and networking event, established in 2021, that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the destination for African-focused events.
For further information on the African Energy Week 2023 conference, click the link below:
https://apo-opa.info/3NBqdUA
Distributed by APO Group on behalf of African Energy Chamber.
Women in leadership takes centre stage as Azentio welcomes Aarthi Ramesh and Emma Foley
SINGAPORE, Singapore, July 4, 2024/APO Group/ —
Azentio Software (“Azentio“) (https://apo-opa.co/3XVs4JH)- a leading end-to-end software company specializing in the BFSI sector, today announced the appointment of Aarthi Ramesh as Chief Customer Officer and Emma Foley as Chief Marketing Officer.
Ramesh joins Azentio with over two decades of experience in the IT industry, both within the services and SaaS space. Most recently she served as Vice President at Freshworks, managing a large portfolio of strategic accounts across Asia Pacific, Middle East and Africa. During this time, she contributed significantly to the company’s growth, including as Head of GTM Operations, where she played a pivotal role in scaling the operations function and aligning it with the company’s IPO objectives. Prior to Freshworks, Aarthi had a long successful stint with Cognizant as global COO for a large business unit.
At Azentio, Ramesh will primarily be focused on delivering excellence in customer success. In her role, Aarthi will ensure customer satisfaction and retention by overseeing all customer-facing activities. This includes managing customer success teams, support services, and customer experience strategies to ensure seamless onboarding, adoption and ongoing engagement with Azentio products suite.
Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio
Commenting on the announcement, Aarthi said, “I am delighted to join Azentio and lead our efforts towards achieving complete customer centricity. With my extensive background in both product and services and my dedication to driving customer success, I am confident I can significantly benefit both our business and our customers.”
Foley brings with her over 20 years of B2B marketing experience primarily focused on the tech space in the MEA, APAC and European markets. Most recently serving as the Head of Marketing for Europe, Middle East & Africa at Temenos, Foley is immersed in building high performing teams to drive transformative marketing models. Her expertise in leveraging data analytics to enhance marketing efficiency and effectiveness is expected to play a pivotal role in shaping Azentio’s marketing strategies into the future.
Her primary focus will be in ensuring Azentio’s value propositions are clear, compelling, and simple for customers as well as supporting the business in its strategic growth plans throughout the Middle East, Africa and South East Asia, with a significant focus on digital marketing technology as well as data-driven marketing initiatives.
Speaking about her appointment Foley commented, “I am thrilled to join Azentio, a company I have known and regarded highly for its cutting-edge solutions and customer-first approach. I look forward to leveraging my experience to contribute towards the company’s growth, driving marketing strategies that resonate with our customers and set new standards in the industry.”
Sanjay Singh, CEO at Azentio added, “Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio. As our company continues to grow, I am confident that both of these leaders will help us to achieve Azentio’s vision and growth ambitions while championing innovation and a customer first mindset.”
Distributed by APO Group on behalf of Azentio Software Private Limited.
By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors
ABUJA, Nigeria, July 3, 2024/APO Group/ —
Siemens (www.Siemens.com) and PANA Infrastructure announce a strategic collaboration to tackle Nigeria’s Electrical Infrastructure sector; The initiative aims to enhance power stability and create job opportunities in Nigeria; Combining expertise, they aim to enhance Nigeria’s power sector.
Siemens, a leading global technology company, and PANA Infrastructure, a Nigerian conglomerate with an increasing footprint across Sub-Saharan Africa, have formally announced a strategic partnership aimed at modernizing and upgrading Nigeria’s electric power infrastructure through the provision of grid automation, and smart infrastructure solutions across Nigeria. This collaboration, solidified through a formal agreement signifies a pivotal step towards addressing Nigeria’s pressing electricity challenges while fostering economic growth and technological advancement in the region.
“This collaboration underscores our commitment to fostering sustainable development and advancing technology in Nigeria,” stated Sabine Dall’Omo, CEO of Siemens Sub-Saharan Africa. “By combining Siemens’ expertise in smart grid technologies with PANA Infrastructure’s deep market insights, we aim to ensure a reliable power supply and drive economic progress in the region.”
We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies
According to Mr. Daere Akobo, Chairman of PANA Holdings, “this strategic collaboration with Siemens is a pivotal opportunity to transform Nigeria’s power sector. We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies. This collaboration is in alignment with the transformation agenda in the power sector by the Nigerian government to significantly improve power supply in the country, in a manner that translates to economic progress for all Nigerians.”
The agreement signed between Siemens and PANA Infrastructure, focuses on enhancing grid reliability and stability, deepening electrification rates to meet the rapidly growing demand for electricity in Nigeria.
Simultaneously, recognizing Nigeria’s potential for substantial investments in industrial modernization, the partnership will concentrate on unlocking Nigeria’s potential in the industrial power sector. This initiative aims to revolutionize Nigeria’s industrial landscape by harnessing the power of advanced technologies and solutions to enhance productivity, efficiency, and quality. Through local capacity development, enhancing employees’ skills and capabilities, Siemens and PANA Infrastructure will pave the way for a new era of industrial excellence in Nigeria.
“Siemens reaffirms its commitment to Nigeria, with a focus on identifying and developing strategic business opportunities within the region. By leveraging a go-to-market strategy that includes knowledge platforms, collaborative business strategies, integrated sales and marketing teams, and global support, Siemens strives to bring significant business value to the Nigerian market,” says Sabine Dall’Omo.
Meanwhile, PANA Infrastructure has positioned itself as a key player in understanding and envisioning the needs of industry stakeholders and local communities. By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors.
This strategic collaboration between Siemens and PANA Infrastructure represents the convergence of proven expertise and application know-how, ensuring the highest quality of solution implementation for Nigeria’s industrial power sector. By addressing key challenges in Nigeria’s power and industrial sectors, including electricity losses, rural electrification, capacity building, local production, technology transfer, and quality standards, this partnership aims to drive sustainable growth and development in Nigeria.
Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed
CAIRO, Egypt, July 3, 2024/APO Group/ —
African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) is pleased to announce the following Board changes which took place at the Bank’s 31st Annual General Meeting held recently in Nassau, The Bahamas,
Board Changes
Class “A”
Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed. Mrs. Jafiya is the Permanent Secretary, Federal Ministry of Finance of the Federal Republic of Nigeria.
Mr. Amadou Hott was elected to fill the position of the African Development Bank nominated board seat. Mr. Hott is currently the Special Envoy of the President of the African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa. Prior to this appointment, Mr. Hott was Senegal’s Minister for Economy, Planning and Cooperation.
Class “B”
We look forward to their support and insight as we strive to build a prosperous Global Africa
Mr. Noël Mekulu Mvondo Akame was elected to replace Mr. Jean-Marie Mani. Mr. Mekulu Mvondo Akame is currently the Director General of the National Social Insurance Fund (CNPS) of Cameroon.
Class “C”
Ms. Yu Wen was elected to replace Ms Lili Yang. Ms. Yu Wen currently serves as the General Manager of the International Department at the Export-Import Bank of China (CEXIM).
Increase in Authorised Share Capital
The shareholders of the Bank also approved an increase in the authorised share capital from US$5 billion to US$25 billion. The increase recognizes the rapid growth of the Bank in response to the challenges facing the African continent. It also creates capacity for the Bank to support the growth and development envisaged for the African continent in line with its mandate to promote the continent’s trade and affirm its relevance on the global stage.
Commenting on these significant developments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank remarked:
“Afreximbank is most grateful to departing Board Members for their services to the Bank and Africa. They were for many years, part of a formidable team, that made significant contribution to the Bank’s vision for Africa, created alliances, and assisted Africa in navigating major headwinds. We welcome our new board members. We look forward to their support and insight as we strive to build a prosperous Global Africa. Together, we will restore dignity and pride to Africans around the world.”
He added: “the overwhelming endorsement by Shareholders of the historic increase of the Bank from US$5 billion to US$25 billion reflected their firm belief and trust in the Board and Management of the Bank and in the Bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans.”
Distributed by APO Group on behalf of Afreximbank.
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