This two-day summit coincides with the United Nations General Assembly and is co-hosted by UN Deputy Secretary-General Amina J. Mohammed and African Union Chairperson H.E. Moussa Faki Mahamat

NEW YORK, United States of America, September 26, 2024/APO Group/ — 

World leaders from business, government, finance, sports, and the creative arts convened in New York for the third annual “Unstoppable Africa” event today. Organized by the Global Africa Business Initiative (GABI) (https://GABI.UNGlobalCompact.org/), this summit aims to establish the continent as the premier destination for business, trade, and investment.

Under the theme “Unstoppable Africa: Shaping Global Ambitions for Agenda 2063,” the event emphasizes inclusive participation, focused dialogue, and actionable solutions. This two-day summit coincides with the United Nations General Assembly and is co-hosted by UN Deputy Secretary-General Amina J. Mohammed and African Union Chairperson H.E. Moussa Faki Mahamat. Coordinated by the UN Global Compact, GABI provides a crucial platform for global leaders—including Heads of State, CEOs, investors, policymakers, and industry specialists—to collaborate on advancing Africa’s business landscape.

The opening day featured notable attendees such as H.E. Andrzej Duda, President of Poland; Julie Monaco, Global Head of Public Sector Banking, Citi; Prof. Benedict O. Oramah, President of the African Export-Import Bank (Afreximbank); WNBA All-Star and ESPN host, Chiney Ogwumike; Mr. Alhaji Aliko Dangote, Founder and CEO of Dangote Group; Chido Mpemba, Special Envoy on Youth to AU Chairperson; and Mr. Makhtar Diop, Managing Director of the International Finance Corporation (IFC). Their presence underscored the critical role Africa plays in shaping a prosperous and sustainable global future.

In his keynote video address, United Nations Secretary-General Antonio Guterres emphasized the importance of strengthening partnerships to drive progress in Africa and globally. He stated that achieving an unstoppable Africa requires “collective, unstoppable efforts to foster development in areas like renewable energy, food systems, education, and digital transformation.” Guterres also advocated for meaningful reforms in the global financial architecture to ensure that all countries receive the necessary support, while promoting job creation and economic growth through initiatives such as the African Continental Free Trade Area.

H.E. Moussa Faki Mahamat highlighted Africa’s rich cultural diversity and the resilience of its people. “Africa’s story is one of determination, progress, and hope. Our strength lies not only in our resources but in our people—mothers, fathers, sons, and daughters—who tirelessly work to build a better future.”

Deputy Secretary-General Amina J. Mohammed emphasized Africa’s emerging economic leadership, particularly with the African Union’s inclusion in the G20. This milestone enhances Africa’s voice in global governance and integrates the continent’s development priorities into broader decisions that promote equity and sustainability.

Africa’s story is one of determination, progress, and hope

Insightful Sessions and Discussions

The opening session featured a powerful panel discussion titled “The ‘Africa Youth Fix’ for a World in Crisis.” This conversation explored the immense potential of Africa’s youth, who are eager to play a pivotal role in shaping the continent’s and the world’s future. With Africa’s median age at just 19, the panel highlighted the opportunities in harnessing the creativity, energy, and ambition of young people across sectors such as technology, trade, energy, and the creative industries.

In a session focused on boosting trade, Alhaji Aliko Dangote stressed the necessity of removing barriers to the movement of people, goods, and services to accelerate free trade in Africa. He pointed out the disparities in access faced by Africans compared to those holding American or British passports and emphasized that fostering business relationships requires greater freedom of movement.

During the “Unstoppable Africans” session, Faouzi Annajah, Co-Founder of NamX, shared his journey as an innovator in the electric vehicle market, discussing his ambitious project to launch Africa’s first hydrogen-powered SUV by 2027.

Brad Smith, Vice Chair and President of Microsoft, outlined the company’s commitment to leveraging artificial intelligence (AI) for Africa’s future. He emphasized Microsoft’s focus on developing world-class AI platforms and infrastructure that will benefit the continent.

WNBA All-Star and ESPN host Chiney Ogwumike announced her new foundation, Queens of the Continent, during a fireside chat with Masai Ujiri, President of the Toronto Raptors. The foundation aims to create opportunities for women and girls across Africa, using sport as a transformative vehicle to promote gender equity and access to opportunities.

As the event transitions into its second day, stakeholders will build on the momentum, focusing on actionable strategies to accelerate Africa’s growth agenda. The solutions roundtable will culminate in concrete commitments to address pressing challenges, including key trade and energy agreements and the impacts of climate change.

GABI remains dedicated to ensuring Africa’s pivotal role in shaping the global future is recognized and maximized. Day 2 promises more groundbreaking announcements and partnerships that will solidify Africa’s rise as an unstoppable force in the global economy. View of the photos from Unstoppable Africa event, Day 1 here (https://apo-opa.co/3ZHH3HR) and the event b-roll here (https://apo-opa.co/3ZDCu1m).

For more information on Day 2, visit the Website (https://apo-opa.co/3ZDOQGF).

Distributed by APO Group on behalf of Global Africa Business Initiative.

Mauritania is on track for first gas production this year, creating strategic investment opportunities across the entire gas value chain

CAPE TOWN, South Africa, September 25, 2024/APO Group/ — 

The first phase of the Greater Tortue Ahmeyim (GTA) LNG project – situated on the maritime border of Mauritania and Senegal – will begin production by the end of 2024. Ahead of this milestone, Mauritania’s Minister of Petroleum and Energy Mohamed Ould Khaled has joined the African Energy Week (AEW): Invest in African Energy conference –  taking place November 4-8 in Cape Town. During the event, Minister Khaled is expected to share insight into the impact the project will have on the Mauritanian economy as well as the wave of investment opportunities emerging across the country’s gas value chain.

The country’s inaugural LNG development, GTA promises new opportunities for job creation and revenue generation. The first phase of the project will produce 2.3 million tons per annum (mtpa) while the second phase will increase production capacity to upwards of 5 mtpa. To date, the first phase is 90% complete, with the FPSO arriving at the project site in June 2024. At AEW: Invest in African Energy 2024, Minister Khaled is anticipated to provide an update on the project.

By prioritizing investment in LNG and promoting both data acquisition and exploration, the country is laying the foundation for accelerate gas development

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Phase one of the GTA development represents just one of several planned projects in Mauritania. Given its strategic proximity to high-demand markets in Europe as well as its wealth of offshore resources, the country is quickly gaining traction as an attractive market to invest in. Leveraging this attractiveness, the country is  currently strengthening partnerships with international stakeholders to fast-track project development and unlock the full potential of its oil, gas and renewable energy resources. In June 2024, Mauritania signed an agreement with data and analytics company TGS – now PGS – to acquire subsurface data for oil and gas exploration across onshore and offshore basins. In parallel, oil and gas company Tullow Oil is conducting exploration activities offshore Mauritania under a multi-year agreement.

Additionally, Mauritania announced in May 2024 that it is seeking a new partner to develop the BirAllah gas field, following the expiration of bp’s contract. With an estimated reserve of 60 trillion cubic feet of natural gas, BirAllah represents a significant opportunity for the sustainable growth of Mauritania’s gas industry. Further bolstering its energy portfolio, Mauritania signed an exploration-production contract in April 2024 with Taqa Arabia Co. Gas Consortium to develop the Banda gas field. Slated to kickstart production in 2027, the $1.3 billion project will further cement Mauritania’s position as a major gas producer. Amid these developments, AEW: Invest in African Energy represents an ideal platform for Minister Khaled to engage with global investors and sign strategic cooperation agreements to further advance its hydrocarbons sector.

Meanwhile, in addition to natural gas development and with a target to produce 12.5 million tons of green hydrogen by 2035, Mauritania is making strides in clean energy, enhancing cooperation with global partners and positioning itself as a key investment destination through policy reform. In September 2024, Mauritania approved its Green Hydrogen Bill, paving the way for the exploitation of wind and solar resources and the development of requisite infrastructure to establish the country as a clean energy hub. Among the country’s growing portfolio of green hydrogen projects are the 30 GW Aman project led by CWP and the 10 GW Nour project led by Chariot. Minister Khaled’s participation at AEW: Invest in African Energy will not only help attract fresh investments for Mauritania’s growing green hydrogen energy industry but enable the Minister to provide project updates.

“Mauritania is taking the right approach to developing its energy sector. By prioritizing investment in LNG and promoting both data acquisition and exploration, the country is laying the foundation for accelerate gas development. At the same time, Mauritania is driving projects forward across the green hydrogen sector, recognizing the vital role the resource will play in enhancing energy security,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

Project updates were issued on Libya’s major gas production projects at the Libya-Italy Roundtable and VIP Networking Event in Rome on Monday

ROME, Italy, September 25, 2024/APO Group/ — 

Italian multinational oilfield services company Saipem announced it has pre-qualified to carry out EPCC works for Production Platform E – part of the $8-billion Structures A&E Development Project – during the Libya-Italy Roundtable and VIP Networking Event in Rome on Monday.

Led by Mellitah Oil & Gas – a joint venture between Italian multinational Eni and Libya’s National Oil Company – the Structures A&E project aims to increase gas production to supply the Libyan domestic market and exports to Europe, targeting 750 million cubic feet of gas per day (mmcf/d) by 2026. Mellitah Oil & Gas launched the invitation for pre-qualification for the Engineering, Procurement, Construction, Hook-up, Commissioning and Start-up of Production Platform E earlier this year.

“We are committed to Libyan projects,” said Giorfio Elia, Managing Director – North East Africa & Cyprus for Saipem. “We have pre-qualified for Platform E, which will give Libya one of the biggest production platforms in the Mediterranean. It will be challenging – it’s a more than 60,000-ton platform, with one of the largest jackets in the industry.”

The announcement was made during an oil and gas-focused roundtable at the Libya-Italy Roundtable and VIP Networking Event, which outlined the country’s current exploration and development prospects. In addition to the Structures A&E Development Project, Eni highlighted several major gas projects under development, including the Bouri Gas Utilization Project – which will recover hydrocarbons from associated gas from two platforms installed on the Bouri field, accompanied by a carbon capture facility – and another 100-mmscf/d gas production project set to come online in 2025.

We are committed to providing enough gas to Libya to meet domestic needs and continue exporting, while at the same time reducing our carbon footprint

“We are committed to providing enough gas to Libya to meet domestic needs and continue exporting, while at the same time reducing our carbon footprint,” said Martina Opizzi, Head of North Africa & the Levant Region for Eni, adding that the operator has “already signed some contracts” for all three projects.

In addition to gas monetization, Libya is prioritizing enhanced oil recovery to maximize output from mature oil fields and brownfield assets. As a result, the country is looking to international private sector partners to implement advanced technologies and carry out upgrades and maintenance works to boost recovery rates and stabilize production. 

“Short turn-around-time assets are a major opportunity for companies like ourselves,” said Ibraheim Mejerissi, Managing Director of Wazen Oil Services. “There is a huge potential [in maintenance works] in Libya, whether you’re a trader wanting to provide products, or a service or engineering company.”

Looking ahead, challenges in fiscal, political and contractual stability remain for Libya, which continues to face long project lead times that impede foreign investment and the timely completion of ongoing projects. Italian engineering and general contracting firm RENCO, for instance, was awarded a contract for the 36 MW Sarir Power Plant in 2013, yet only commissioned the plant in June this year owing to geopolitical uncertainty and delays in payments.

“We need to start projects with bonds, credit letters and tools from the financial point of view that provide support and create certainty from the banking system,” said Alessandro Galli, Industrial Plants Division Director for RENCO.

“We need to find a way with our operators to ensure projects are secured and can enter into operation,” added Nicola Ghirelli, Energy Maintenance & Production Services Director at Bonatti, which is currently nearing completion of EPC works for Nafusah Oil Operation at a project in western Libya.

The Libya-Italy Roundtable and VIP Networking Event served to launch the third edition of the Energy Capital & Power-sponsored Libya Energy & Economic Summit taking place in Tripoli next year, as well as to celebrate the Libyan-Italian connection in the upstream space and forge new pathways to cooperation and partnership in the energy sector. 

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