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Opportunities for Service Companies in Angola

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3 years ago

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Angola

Unprecedented growth in Angola’s energy sector will provide unparalleled opportunities for service companies in the country

LUANDA, Angola, April 12, 2023/APO Group/ — 

Angola’s energy sector offers a myriad of opportunities for service companies (https://apo-opa.info/3zSKD3R) to participate in one of the most lucrative and prospective markets on the continent.

Given the many major developments expected to come online in the medium-term, these opportunities are expected to increase even further.

Upstream Oil and Gas

Angola’s upstream market is projected to grow more than 1.5% between 2022 and 2027.

Increased government focus on the development of hydrocarbons assets coupled with the discovery of new reserves are poised to drive market growth in the coming years.

Oil and gas supermajor TotalEnergies’ flagship Kaombo project, situated in the country’s offshore Block 32, in addition to multinational oil and gas company bp’s PSVM development and integrated energy company Eni’s new production wells in the Vandumbu and Mpungi fields in Block 15/06 are poised to stimulate significant investment opportunities over the coming years.

As such, Angola’s upstream activities have seen the participation of service companies such as oil field service company, Halliburton; energy technology company, Baker Hughes; systems and solutions provider, FMC Technologies; engineering services company, Oceaneering International; energy services company, Weatherford; and global technology company, SLB. As the market expands, opportunities for service companies will soon follow.

Midstream Refining

Despite its position as a leading oil producer on the continent, Angola’s refining capabilities remain well below domestic demand. As such, the government has demarcated refinery development amongst its highest stated priorities, opening up new opportunities for service companies.

Increased government focus on the development of hydrocarbons assets coupled with the discovery of new reserves are poised to drive market growth in the coming years

Upgrades to the country’s sole operating facility in Luanda (https://apo-opa.info/3MEMHUQ) to the tune of $235 million will be supported by engineering, procurement, and construction (EPC) contractor, KT-Kinetics Technology. Meanwhile, three new refinery projects in Lobito, Soyo, and Cabinda are in the pipeline and are estimated to reduce imports by approximately $2.7 billion per year while providing new opportunities for public-private partnerships in the country.

Meanwhile, with aims to attract private investment for natural gas production, plans are currently underway to develop a second combined cycle plant in Soyo, with a capacity to produce 500 MW of energy produced by natural gas. The 720 MW Soyo I combined cycle plant was originally constructed by construction and engineering company, the China Machinery Engineering Corporation, with turbines for the plant having been supplied by GE Renewable Energy.

Electricity Production, Transmission and Distribution

The government has implemented an ambitious infrastructure plan to achieve its targeted 9.9 GW of installed generation capacity and 60% electrification rate by 2025. Part of this plan has included the expansion of the government’s budget dedicated to electricity production, transmission, and distribution from $482 million in 2021 to $490 million in 2022 while plans are currently underway to expand the grid from its current length of 3,354 km to 16,350 km by 2025.

Leading sub-sectors in Angola’s power generation sector include the provision of equipment for use in small-scale, off-grid projects including diesel and gas turbine generators; the development of utility-scale dispatch centers for energy load management; transmission expansion; and substation development.

Power generation and solutions companies active in Angola’s energy sector include power technology company, General Electric (GE); power technology provider, Cummins; construction machinery and equipment company, Caterpillar; and manufacturing company, Westinghouse Electric Corporation.

Renewable Energy

With numerous hydro and solar projects due to come online in the coming years, external financing and private project development will be key towards supporting the southern African country’s green energy agenda, with service companies representing key drivers of the renewable energy market (https://apo-opa.info/41omUV4).

Angola’s Ministry of Energy and Water has identified approximately 100 locations for the development of small-scale hydro projects capable of producing up to 600 MW of renewable energy. The country’s 960 MW Cambambe I and 700 MW Cambambe II hydro power projects have seen the participation of service companies such as EPC contractor, Novonor; electromechanical systems and services provider, Andtriz Hydro; global technology company, Voith; and renewable energy company, GE Renewable Energy. Additionally, the Laúca hydroelectric power plant (https://apo-opa.info/3Ut6UyK), situated in the country’s Kwanza Norte Province, involved contributions from Novonor; consulting and management company, Intertechne; construction engineering company, Elecnor; and consulting companies, SRK Consulting and Coba Consulting.

Endowed with significant solar potential, various projects have been approved for development by the government as part of the country’s Angola Energy program, which aims to install 800 MW of solar energy capacity by 2025. A project led by engineering and project development company, MCA Group, will develop the country’s flagship 370 MW solar power project, which will be comprised of seven photovoltaic plants, consisting of approximately one million solar panels. Additionally, with aims to begin commercial operations by 2024, the 35 MW Quilemba Solar Power Station is being spearheaded by TotalEnergies in partnership with Sonangol and solar systems solutions provider, Greentech. Other development companies active in Angola’s solar energy space include solar project developer, AfricaGlobal Schaffer, and clean energy solutions company, Sun Africa.

As the opportunities for service companies expand, the Angola Oil & Gas (AOG) conference and exhibition (https://apo-opa.info/3yWXf9D) provides the ideal platform where new deals can be signed and partnerships forged. As the official meeting place and investment platform for the Angolan energy sector, AOG 2023 will connect investors and project developers with projects. Keep watching Energy Capital & Power’s website and social media channels for more information regarding the 2023 edition of this exciting event.

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

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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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2 days ago

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February 6, 2026

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Debate

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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2 days ago

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February 6, 2026

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CLG

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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2 days ago

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February 6, 2026

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ITFC

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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