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Senegal Minister of Petroleum and Energies to Participate at AEW 2022 with a Strong Focus on Investment

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H.E. Aissatou Sophie Gladima will drive the discussion on securing investment, improving gas monetization and pushing for a just transition in Africa

JOHANNESBURG, South Africa, April 11, 2022/APO Group/ — 

H.E. Aissatou Sophie Gladima, Minister of Petroleum and Energies, the Republic of Senegal, will be attending and participating at the continent’s premier energy event, African Energy Week (AEW) 2022 – taking place from 18 – 21 October 2022 in Cape Town. Representing one of Africa’s top emerging gas economies, H.E. Gladima will play a significant role in facilitating gas and energy transition related dialogue in Cape Town.

Backed by strong regional cooperation and sustained foreign investment that have led to the start-up of large-scale gas developments, the MSGBC region is poised to become one of the biggest gas economies on the continent. Owing to strong policies such as the 2020 Gas Code and the Energy Sector Development Policy Letter (2019-2023), the Senegalese government has managed to support the growth of its gas market, significantly improving gas monetization and investment. In this area there has already been success, both in Senegal and neighboring Mauritania, with first production scheduled for 2023 at the $4.8 billion Grand Tortue Ahmeyim gas development – a joint project between Senegal and Mauritania that is expected to produce up to 2.3 million metric tons of liquefied natural gas per annum and operated by bp and American oil firm, Kosmos Energy.

H.E. Gladima’s main focus remains on ensuring that the 40 trillion cubic feet of proven gas reserves in the west African country are fully exploited to address energy poverty. In this regard, the ministry has committed to increasing investments in E&P activities through increased cooperation with companies and institutions such as national oil company (NOC) Petrosen, bp, COS-PETROGAZ, GEZ-PETROGAZ, and the Gas Exporting Countries Forum. Additionally, the Minister is committed to increasing the capacity of the domestic gas market, with significant improvements being made regarding local content and capacity building. Across the entire energy value chain, local company participation is increasing, leading to strong and sustainable socioeconomic development in Senegal.

What’s more, the Minister has also vowed to boost the country’s capacity to supervise the exploration and monetization of gas resources by establishing the Pilot Committee to Support Negotiations of Gas Projects and Institutional Capacity Building, which received $29 million in World Bank aid for technical assistance in 2021.

Senegal is well positioned to become a major supplier both regionally and globally and an opportunity has risen for the west African country

Moreover, the ministry is also overseeing the implementation of gas-to-power initiatives, such as the development of the 130 MW Malicounda Flexicycle power plant, that are aimed at increasing the use of natural gas in energy generation for decarbonization and energy security. With a focus on enhancing domestic gas utilization, led by H.E. Gladima, the Ministry is committed to improving gas infrastructure, distribution and production, ensuring Africa benefits from its gas resources first and foremost.

Despite the significant progress within Senegal’s gas industry, massive investments are required to boost and accelerate gas exploration and production to support the economy and to address energy poverty. With Europe seeking alternative gas suppliers to meet its energy needs, and demand in the region growing exponentially, Senegal is well positioned to become a major supplier both regionally and globally and an opportunity has risen for the west African country – as well as its partners in the region – to attract European investments to fund the buildup of infrastructure and to scale up exploration and production activities.

“At AEW in 2021, H.E. Gladima played a pivotal role in shaping dialogue, networking with global investors and putting forward strategies as to how Africa, Senegal and emerging gas markets such as Mauritania can boost investments to accelerate and amplify gas exploration and development. In 2022, this trend will continue, with the minister set to make a strong play for investment across the entire MSGBC energy landscape, while leading discussions on the role of natural gas in Africa’s energy transition,” states NJ Ayuk, Executive Chairman of AEC. 

Meanwhile in the oil sector, Senegal enacted the Petroleum Code in 2019 to ensure full exploitation of the more than 1 billion barrels of proven oil reserves in the country. As a result, first oil production is also set for 2023 at the Sangoma oil field which is operated in the south of Dakar by Australian oil and gas firm, Woodside, and PETROSEN. With hydrocarbons anticipated to account for 13.7% of the country’s gross domestic profit by 2023, the government of Senegal, in partnership with the Ministry of Petroleum and Energies, is developing fiscal rules to ensure a sustainable and transparent management of revenues.

Senegal is also at the forefront of deploying renewable energy to diversify its energy mix and to improve electrification as the country targets 100% electricity access by 2025 from the current 70.4% in 2022. In this regard, H.E. Gladima aims to increase partnerships with international financial institutions such the International Finance Corporation, USAID, the World Bank and the European Investment Bank, all of which have already made significant investments in project deployments in Senegal, as the country seeks to have 25% of its electricity generated from renewables by 2025.

At AEW 2022, the Minister will discuss the role that developing strong policy frameworks and capital-attractive regimes play in enabling African hydrocarbon producing countries to maximize oil and gas for economic growth and energy security. During the week-long event, H.E. Gladima will lead panel discussions and high-level meetings that will focus on the opportunities within Senegal’s energy market for European and international investors and companies, the importance of regional cooperation in enhancing the management of hydrocarbon resources and the use of natural gas as a transactional energy resource as Africa implements the energy transition.

Distributed by APO Group on behalf of African Energy Chamber.

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China-India ties at 75: ‘Dragon-Elephant Tango’ will benefit both

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April 3, 2025

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diplomatic relations

BEIJING, CHINA – Media OutReach Newswire – 3 April 2025 – CGTN published an article on China-India relations as the two Asian neighbors celebrate the 75th anniversary of the establishment of diplomatic relations, exploring the bilateral cooperation and exchanges and emphasizing why working together will benefit both countries, the region and the world.
China and India celebrated the 75th anniversary of the establishment of diplomatic relations on Tuesday with mutual congratulatory messages from their leaders.

In his message to Indian President Droupadi Murmu, Chinese President Xi Jinping described China-India ties as the “Dragon-Elephant Tango,” symbolizing a harmonious partnership between the countries’ emblematic animals. He noted that realizing the “Dragon-Elephant Tango” is the right choice for the two sides, as it serves the fundamental interests of both countries and their peoples.

China-India relations have made positive strides over the past year. Last October, President Xi and Indian Prime Minister Narendra Modi met in Kazan, Russia, signaling a new phase of engagement. Since then, both sides have worked to implement the important consensus reached by the two leaders, strengthening exchanges at various levels and achieving a series of positive outcomes.

‘Partners of mutual achievement’

Noting that China and India, as ancient civilizations, major developing countries and important members of the Global South, are both at a critical stage of their respective modernization efforts, Xi called on the two sides to be partners of mutual achievement.

In an interview with CGTN, Harsh Pant, vice president for Studies and Foreign Policy at the leading Indian think tank Observer Research Foundation, pointed out that the two major economies should engage with each other much more substantively on economic matters amid simmering global trade tensions.

“If they continue to work according to the principles of free and open global trade, I think that can inspire other countries to do the same,” he noted.

He added the cooperation between the two sides could bring long-term sustainability to the current global economic order.

China reclaimed its position as India’s top trading partner last year, surpassing the United States after a two-year gap, according to the latest report from the Global Trade Research Initiative. Bilateral trade between the two Asian giants reached $118.4 billion in 2024, reflecting a four-percent increase from $113.8 billion in 2023.

Both countries have leveraged their strengths in technology and production. While China remains a vital supplier of industrial goods such as electronics, machinery and chemicals, it imports pharmaceuticals, agricultural products and software services from India.

Beyond trade, cultural exchanges have also played a vital role in strengthening ties. In January, China and India agreed to resume direct passenger flights and take steps to facilitate travel and journalist exchanges.

In the first quarter of this year, around 70,000 visas were issued, representing about a 15-percent year-on-year increase, according to Chinese Ambassador to India Xu Feihong.

‘Sound, steady development’ of ties

President Xi called on both sides to enhance strategic mutual trust, strengthen exchanges and cooperation in various fields, deepen communication and coordination in major international affairs, jointly safeguard peace and tranquility in the China-India border area, promote a sound and steady development of bilateral relations, and contribute to world peace and prosperity.

In a recent interview, Modi emphasized the need to strengthen ties with China despite past tensions, advocating dialogue over discord and cooperation over conflict.

Recent months saw frequent exchanges between the two sides at all levels. Chinese Foreign Minister Wang Yi and Indian External Affairs Minister Subrahmanyam Jaishankar met several times at multilateral events. The two countries held the 23rd meeting of Special Representatives for China-India Boundary Question in Beijing in December, 2024, as well as China-India Vice Foreign Minister-Foreign Secretary Dialogue in January, reaching broad consensus on bilateral relations, practical cooperation, and boundary issues.

Ambassador Xu noted that such frequent and constructive interactions have been rare in recent years, signaling that China-India relations are at a crucial stage of improvement and development. Moving forward, both sides will need to further overcome obstacles, remove disruptions, and take proactive steps to sustain and build on this positive momentum, he said.

https://news.cgtn.com/news/2025-04-02/Why-realizing-Dragon-Elephant-Tango-is-right-choice-for-China-India-1Cf7KsMpJiU/p.html

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Centurion Law Group (CLG) Granted CEMAC Tax Accreditation, Reinforcing Position as Regional Legal Partner

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April 3, 2025

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Centurion Law Group

As the CEMAC region pursues accelerated growth across its oil, gas and mining industries, CLG’s accreditation will strengthen its position as a partner for multinational companies active across the region

SANDTON, South Africa, April 3, 2025/APO Group/ –Legal, tax and business advisory conglomerate CLG (www.CLGGlobal.com) – formerly Centurion Law Group – has officially been approved as a Central African Economic and Monetary Community (CEMAC) tax advisor by the CEMAC Standing Committee on Fiscal and Accounting Harmonization. CLG Tax and Legal will provide its full suite of tax services across all CEMAC member countries, supporting business and transactions across various strategic fields, including oil, gas and mining.

The tax certification not only comes as part of a broader restructuring of CLG’s tax and legal services offerings, aimed at positioning the firm to better serve clients throughout the region with integrated solutions, but as the CEMAC region pursues accelerated growth across its strategic economic sectors. Specifically, the region’s oil and gas sector is on track for rapid growth, as nations implement ambitious production targets. The Republic of Congo aims to produce 500,000 barrels per day (bpd) by 2027; Gabon targets 220,000 bpd in the short-term; while Equatorial Guinea and Cameroon are scaling-up gas monetization. These targets require significant levels of investment and CLG stands ready to support transactions and broader economic growth.

Given the potential of the CEMAC region’s natural and mineral resources, project developers and investors have already begun to expand their presence across the region. In the Republic of Congo, TotalEnergies is investing $600 million in the Moho Nord project; Trident Energy recently acquired stakes in the Nkossa, Nsoko II, Lianzi and Moho-Bilondo fields; while Perenco increased production at the Tchibouela II and Tchendo II fields following a $30 million investment. In Gabon, wildcat drilling is underway on Blocks BC-9 and BCD-10 while Perenco advances the $1 billion Cap Lopez LNG terminal toward a 2026 start. In Equatorial Guinea, the country is preparing to launch an oil and gas licensing round while Cameroon drives a gas-to-industry agenda. Further developments in Chad are underway, highlighting the region’s potential as a major producing hub.

The CEMAC accreditation aligns with our strategy to support impactful transactions in Africa and we look forward to strengthening our presence across the continent

Stepping into this picture, CLG’s accreditation will serve to further support current and future transactions. Over the past decade, CLG has significantly grown its tax practice, providing comprehensive tax advisory and compliance services to numerous multinational companies operating across Africa. This sustained growth reflects CLG’s commitment to meeting the complex tax needs of investors and businesses on the continent, from corporate tax planning and regulatory compliance to cross-border taxation strategies.

“By bolstering our tax practice in the CEMAC region, CLG continues to establish itself as a one-stop-shop for investors in the region and across the continent. The CEMAC accreditation aligns with our strategy to support impactful transactions in Africa and we look forward to strengthening our presence across the continent,” stated Zion Adeoye, CEO and Managing Partner of CLG.

CLG already has a strong presence in Africa, with offices in South Africa, Nigeria, Mauritius, Ghana, the Republic of Congo, Cameroon, Equatorial Guinea, Namibia and South Sudan. The company caters to a diverse portfolio of multinational companies operating globally, delivering bespoke solutions tailored to address the unique challenges and complexities faced by clients in different industries. CLG’s expertise covers energy, infrastructure, mining, agriculture and ESG, to name a few. For the CEMAC region, CLG’s extensive network and growing expertise positions the firm as strategic partner for regional and global firms. As companies expand their presence across the region, CLG’s agile, integrated approach – underpinned by its local roots and depth of experience – demonstrates the rising prominence of African advisory firms on the global stage. The CEMAC tax certification not only expands CLG’s regional service coverage but also solidifies its reputation as a trusted partner for businesses navigating Central Africa’s evolving tax landscape.

“CLG’s deep understanding of its clients’ businesses, collaborative approach with local authorities, multinational orientation and highly experienced local teams are some of the factors that set our tax practice apart in the region,” stated Daoudou Mohammed, CLG Tax and Legal Director.

Distributed by APO Group on behalf of CLG

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Emerging Markets-Focused Fintech Platform PalmPay Unveils New Debit Card in Nigeria with Verve

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6 hours ago

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April 3, 2025

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PalmPay

The new PalmPay Debit Card brings advanced features such as savings yield on deposits and merchant rewards within reach for mass market users in Nigeria

LAGOS, Nigeria, April 3, 2025/APO Group/ –PalmPay (www.PalmPay.com), a leading digital bank and fintech platform focused on emerging markets, has launched the PalmPay Debit Card in Nigeria in partnership with Verve, Africa’s largest domestic card scheme.

The launch of its debit card represents a key milestone in PalmPay’s evolution – from a mobile wallet known for it’s fee-free transfers and cashback rewards into a full-service digital banking platform offering an integrated ecosystem for payments, savings, credit, insurance, and now, card access.

The new PalmPay Debit Card brings advanced features such as savings yield on deposits and merchant rewards within reach for mass market users in Nigeria. With zero maintenance fees, a simple in-app application process, and nationwide delivery, PalmPay aims to convert millions of its 35 million users to become cardholders this year. The card is accepted at all merchants in the Verve network, and supports both debit and contactless transactions.

“This launch is another step forward in our mission to deliver accessible, reliable and rewarding financial services.“ said Sofia Zab, Chief Marketing Officer at PalmPay. “With the PalmPay Debit Card, we are expanding our ecosystem and enabling our users to pay and earn rewards at even more touch points, including across offline and online commerce. And for merchants, this opens up new opportunities to reach millions of Nigerian digital consumers and collaborate with us to build reward-driven experiences that boost loyalty and sales.”

Alongside the standard debit card, PalmPay is also rolling out PalmPay Premium, a new reward scheme and card designed for high-volume users. It offers enhanced perks such as priority support, advanced financial tools, and exclusive merchant benefits.

With the PalmPay Debit Card, we are expanding our ecosystem and enabling our users to pay and earn rewards at even more touch points, including across offline and online commerce

With over 35 million users and a growing network of 1.1 million agents and merchants in Nigeria – and operations in Tanzania, Ghana, and Bangladesh – PalmPay is building a next-generation financial ecosystem designed to empower consumers and businesses in emerging markets. PalmPay processes up to 15 million transactions daily, underscoring the scale and reliability of its platform.

In addition to its digital banking services, PalmPay provides a suite of B2B offerings for local MSMEs and international merchants, including:

  • Smart POS terminals and a business app
  • Payment orchestration and checkout solutions
  • Bulk payment tools via a self-service merchant portal
  • APIs for embedding and reselling PalmPay’s services
  • Direct integration of services into the PalmPay consumer and business apps

 

“At PalmPay, we believe that building a thriving digital economy requires collaboration. From lending and insurance providers to card schemes like Verve, our ecosystem is powered by strategic partnerships.”, said Jiapei Yan, Chief Commercial Officer of PalmPay. “The launch of our debit card is another example of how we are combining cutting-edge technology with our partner strengths to deliver inclusive financial services at scale – and in doing so we empower businesses targeting Africa to grow faster, reach more customers and unlock more revenue streams.”

Vincent Ogbunude, Managing Director of Verve International, added: “We are proud to partner with PalmPay on this important milestone. Our alliance reflects our shared mission of accelerating financial inclusion and delivering payment innovation that meets the needs of African consumers.”

From zero-fee transfers and high-yield savings to instant credit, insurance, and now cards, PalmPay is redefining what digital banking in emerging markets can look like – personalised, comprehensive, and accessible to everyone.

As international businesses seek entry into Africa’s dynamic digital economy, PalmPay offers a trusted platform with the infrastructure, user base, and reach to help them scale.

Distributed by APO Group on behalf of PalmPay

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