Connect with us

Business

Red Sky Energy Secures 35% Stake in Block 6/24, Eyes New Deals in Angola

Published

on

Red Sky Energy

Prioritizing proven or developed assets, the Australian firm is seeking new opportunities in Angola

LUANDA, Angola, January 16, 2025/APO Group/ — 

Australian exploration and production company Red Sky Energy has made its first foray into Africa’s oil and gas market, acquiring a 35% stake in Block 6/24, offshore Angola. Speaking exclusively to Energy Capital & Power (www.EnergyCapitalPower.com), the company’s CEO Andrew Knox cited the Angola Oil & Gas (AOG) conference as pivotal to making the deal happen. Knox participated in a panel discussion during AOG 2024 and the company’s Block 6/24 acquisition underscores the impact the event plays as a platform for engaging with the industry and securing deals.  

What specific factors made Angola an attractive destination for Red Sky Energy’s first international venture? 

Red Sky Energy has been looking at certain opportunities [across the continent] for the last three years and found there are significant opportunities in Angola. The deal we signed represents our first foray into the African continent and is extremely exciting for us. Angola’s production is circa 1.1 million barrels a day and is a well-established market. We focus on proven resources or developed assets, and those with discovered resources that we can use our expertise to develop and bring to market. In Angola, we are seeing plenty of opportunity to do just this. There are a lot of smaller fields situated nearby established infrastructure.  

Currently, for our first entry, we were not looking to operate. We would like to get comfortable in the market and engage with all the players first. However, we are not married to the idea of non-operator. We will also look at operating positions in the future. There is a lot of oil in Angola, with good opportunities and a very supportive government. What the country has done in recent years – with changing their structuring, the establishment of the National Oil, Gas & Biofuels Agency and the improvement of the fiscal terms – is what has attracted us to the market.  

Please elaborate on the potential of Block 6/24, particularly the significance of the Cegonha oil discovery? 

We acquired this interest through direct negotiation with the government. Block 6/24 is located approximately 12km from Luanda and the refinery, which is very convenient for us. It also has an existing well and the Cegonha oil discovery, making it the perfect opportunity for first-entry into the country. The crude is heavy, with an API of roughly 20. However, there is production of that sort of crude in nearby fields, so it won’t be a problem for us to produce, potentially sign an offtake agreement and get the crude to the Luanda refinery.  

How do you envision the partnership with Sonangol and ACREP contributing to the development of Block 6/24?  

We have partnered with Sonangol, the national oil company, as well as ACREP. We have a 35% stake, Sonangol will operate with 50% and ACREP with 15%. Firstly, Sonangol knows the market. They are on the ground in a big way, and so for us, there are no challenges associated with bringing a foreign operator to the country for the first time. Sonangol is well established and has good connections in country. Secondly, ACREP is also a national company. They are a smaller player but quite nimble and we are impressed with their solutions in terms of the way we develop the field.  

The agreement outlines extensive geological and geophysical studies over three years and a potential drilling decision in Year 4. What key milestones does Red Sky Energy hope to achieve in this timeline? 

We are looking at studies and possibly reprocessing existing seismic data. There is approximately 3,000 km² of seismic on the license and we will look to potentially reprocess that partially and assess how to develop the field. On the way forward: do we re-enter the existing well? Will we do a sidetrack or a new appraisal well? This is what we are currently analyzing. We are not waiting three years to drill the well; this is just the timeframe for when we need to make a decision to drill. Obviously, we are looking to see if we can bring that timeframe forward.  

Beyond Block 6/24, what are Red Sky Energy’s long-term ambitions in Angola? 

We are looking at a lot of opportunities in Angola. We hope to create a major profit center for the company in the country. But we are focusing on existing discoveries or those in production – we won’t be looking outright at exploration at this point in time.   

What role did Angola Oil & Gas 2024 play in facilitating the deal?  

Angola Oil & Gas was instrumental for us in so many ways. It was our first participation at the conference and we were able to meet everyone. Everyone from the industry attends the event and it was exceptionally helpful for us. We were very pleased with the way the conference went and we learnt a lot from it. It was very well set-up and well-run conference. In 2025, we will definitely be attending again. In summary we are pleased to now be involved, we are looking at other opportunities and it is a wonderful place to do business in the oil and gas space. We will certainly be pursuing other prospects in Angola – watch this space.  

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

Business

Alamein Africa Forum to bring together key political and business leaders

Published

on

The forum is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future

CAIRO, Egypt, September 22, 2026/APO Group/ –The inaugural Alamein Africa Forum (https://AlameinForum.com/) will take place from October 2-4 in the historic city of Alamein on Egypt’s Mediterranean coast in parallel with the 2026 African Union mid-year summit.

Established in response to a mandate from the African Union, which called for a permanent African Business Forum to convene biennially in Egypt, the inaugural edition will bring together Heads of State and official delegations as well as some key actors in business and finance.
 




 

The forum is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future.

The Alamein Africa Forum will serve as a pan-African platform bringing together the private sector, investment and financial institutions

The Presidents of Algeria, Angola, Burundi, Chad, Equatorial Guinea, Ghana, Libya, Senegal, Somalia, and South Africa are expected in Alamein as well as President Al Sisi, President of the Arab Republic of Egypt who is the host of this year’s AU Mid-Year Summit. Business leaders from across the continent have confirmed their participation including Ralph Mupita, MTN; Idrissa Nassa, Coris Bank; Mohamed El Ketani, Attijariwafa Bank; Hichem Eloumi, Groupe Shakira; Wale Tinubu, Oando; and many more. Aliko Dangote, Africa’s biggest industrialist is also expected to attend, with the organisers hoping to set up a Business Advisory Council to help advance private sector priorities and investment throughout the continent.

Bringing together leaders in politics, business and policy from across the continent, the Alamein Africa Forum will provide a unique opportunity to shape Africa’s growth agenda by aligning policy and investment priorities, mobilising partnerships for implementation and strengthening financing and investment pathways. The private sector must become an integral part of Agenda 2063, the AU’s strategic 50 year masterplan to transform the continent.

Co-organised by the Government of Egypt, Afreximbank, the African Union and AUDA-NEPAD, the Forum brings together Africa’s most influential decision-makers in an unprecedented alliance of public and private sector leadership.

Speaking on the imperative of the summit at a joint press conference by the government of Egypt and Afreximbank on Thursday, September 17 2026, Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation, and Expatriates Abroad said (https://apo-opa.co/4ygiQag): “The Alamein Africa Forum will serve as a pan-African platform bringing together the private sector, investment and financial institutions, and representatives of various productive and service sectors, to strengthen direct links between companies and markets and decision making at the highest level.”

Continuing, he noted that the Alamein Africa Forum is part of a series of high-level African events that Egypt will host in early October, stressing that holding the forum reflects Egypt’s commitment to advancing continental economic cooperation

In his own comments, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank described (https://apo-opa.co/4ygiQag) the Alamein Africa Forum as a pan-African platform for promoting intra-African trade and investment and connecting the business community and financial institutions with priority projects and investment opportunities in the continent.

Distributed by APO Group on behalf of Alamein Africa Forum.

 




 

Continue Reading

Business

Afreximbank to hold first combined Trade Finance Seminar and Compliance Forum in Gaborone, Botswana

Published

on

Organised in partnership with the Botswana Investment and Trade Centre (BITC), the combined programme will take place at the Gaborone International Convention Centre in Botswana from 16 to 18 November 2026

CAIRO, Egypt, September 22, 2026/APO Group/ —

  • Landmark joint programme will connect trade finance and compliance expertise to advance intra-African trade.
  • The Compliance Forum will explore how stronger, more coordinated frameworks can deepen African economic integration and facilitate international trade.
  • The Trade Finance Seminar will bring together leading trade finance practitioners to explore solutions that can strengthen regional value chains, close Africa’s trade finance gap and support AfCFTA implementation.

For the first time, Afreximbank (https://www.Afreximbank.com/) will bring together two of its flagship annual knowledge-sharing and capacity-building programmes – the 2026 Afreximbank Trade Finance Seminar and the Afreximbank Compliance Forum, uniting industry leaders, policymakers and experts to strengthen trade finance, compliance and Africa’s economic transformation.

 




  

Organised in partnership with the Botswana Investment and Trade Centre (BITC), the combined programme will take place at the Gaborone International Convention Centre in Botswana from 16 to 18 November 2026.

The joint Trade Finance Seminar and Compliance Forum will bring together Global Africa’s financial, regulatory, and trade communities to exchange knowledge, share perspectives, and explore how stronger trade finance and compliance frameworks can support trade, investment, industrialisation, and economic integration.

The Factoring Workshop on 19 November will extend the discussions to the role of factoring and other alternative trade finance solutions in supporting businesses and expanding access to finance.

Botswana is proud to partner with Afreximbank to host the Compliance Forum, Trade Finance Seminar and Factoring Workshop

The Afreximbank Trade Finance Seminar 2026 (ATFS2026) will be held under the theme “Trade Financing in the AfCFTA Era: Resilient Value Chains, Infrastructure and Market Integration.” It will examine how trade finance can support the implementation of the African Continental Free Trade Area (AfCFTA), strengthen regional value chains, finance trade-enabling infrastructure and accelerate economic integration across the continent.

Mr Haytham El Maayergi, Executive Vice President, Global Trade Bank at Afreximbank, said: “ATFS2026 comes at a critical time for African trade. The AfCFTA is creating a larger and more integrated market, but its success will depend on our ability to finance the trade, value chains and infrastructure that connect African economies. By bringing together trade finance, compliance and market practitioners, we aim to turn that opportunity into more bankable transactions, stronger regional value chains and increased intra-African trade.”

Mr Keletsositse Olebile, Chief Executive Officer of the Botswana Investment and Trade Centre, said:

“This is an important opportunity for Botswana to welcome delegates from across Africa and beyond while showcasing our country’s warmth and hospitality.

“Botswana is proud to partner with Afreximbank to host the Compliance Forum, Trade Finance Seminar and Factoring Workshop. These events will highlight Botswana’s growing role as a regional trade and investment hub, as well as its commitment to advancing economic development and continental cooperation.”

The Afreximbank Compliance Forum 2026 (ACF2026) will be held under the theme “Better Compliance, Better Trade: Leveraging Compliance to Promote African Regulations that Advance Intra-African Economic and Trade Integration.”

Mr Idrissa Diop, Compliance Director at Afreximbank, said: “Compliance must be recognised not simply as a regulatory obligation, but as an essential enabler of trusted, resilient and sustainable trade.

“Through ACF2026, we aim to bring together the institutions shaping Africa’s financial and trade architecture to identify practical ways of aligning compliance standards, managing emerging risks and reducing unnecessary barriers to intra-African trade and business growth.

Further information about ACF2026 and ATFS2026 and registration can be found on the site https://apo-opa.co/4AsLd6p

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Business

Afreximbank issues a $29 million guarantee to scale East African Community (EAC) Customs Bond, easing movement of goods across East Africa

Published

on

Afreximbank considers the EAC Customs Bond a significant step towards simplifying and digitising customs processes across the East Africa region

CAIRO, Egypt, September 22, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has issued a US$ 29 million guarantee to BSMART Technology Ltd to support the implementation and scaling of the EAC Customs Bond, the technology-enabled regional customs guarantee solution that facilitates the movement of goods across East African countries.

 




  

Aimed at strengthening the financial capacity underpinning the EAC Customs Bond and supporting the transition to a more seamless digital and integrated customs environment, the facility will enable BSMART Technology Ltd to strengthen the implementation and market uptake of the EAC Customs Bond

The financial support builds on Afreximbank’s close collaboration with the EAC Secretariat, which began with the pilot phase of the EAC Customs Bond in August 2025 and the subsequent launch of the Bond during the Heads of State Summit in March 2026. Through the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS), the Bank has been in the lead in supporting the development of regional customs guarantee and digital solutions that facilitate intra-African trade.

Afreximbank considers the EAC Customs Bond a significant step towards simplifying and digitising customs processes across the East Africa region as it enables clearing and forwarding agents and other eligible users, like guarantors and customs authorities, to access customs bonds through a digital platform, reducing reliance on physical documentation and improving cross-border movement of goods. The solution is designed to eliminate the need for physical bond documentation to be posted at each border for the entry and exit of goods, supporting a seamless transit environment.

This facility demonstrates Afreximbank’s commitment to developing practical solutions that break down the barriers to intra-African trade

By strengthening the financial capacity supporting the digital customs ecosystem, the new facility is expected to lead to the expansion and adoption of the EAC Customs Bond across the region, improve access to capacity, reduce administrative and documentation requirements and facilitate faster movement of goods across the borders. It is also expected to support greater digitisation of customs processes, thereby contributing to the broader objective of increasing intra-Africa trade.

Highlighting the significance of the facility, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, said:

“This facility demonstrates Afreximbank’s commitment to developing practical solutions that break down the barriers to intra-African trade. With the EAC Customs Bond, we are supporting the digitisation and simplification of access to customs guarantees for businesses moving goods across the region – cutting costs and improving the efficiency of customs procedures.

“The Bond complements Afreximbank’s broader AACTGS programme to strengthen capacity across Africa. It deepens our relationship with the EAC Secretariat and other stakeholders, including the regional economic commissions. Above all, this intervention aligns with the Bank’s mandate to support the implementation of the AfCFTA and accelerate the integration of African markets.”

Mr Stephen Teang, Managing Director, BSMART Technology Ltd said: “This facility provides important support for BSMART’s growth ambitions and reflects strong confidence in EACBond. We thank Afreximbank for their partnership and support.”

The EAC Secretariat began piloting the EAC Customs Bond in Uganda in 2025. It then followed with the onboarding and participation of Rwanda and Burundi in January 2026 and an official launch at the 25th Summit of Heads of State in March 2026. Under the Bond digital platform, an agent moving goods across multiple countries can do so digitally rather than go through the traditional physical submission of documents at each border post, reducing administrative processes and avoiding delays.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Trending

Exit mobile version