Connect with us
Anglostratits

Business

Sonangol Chief Executive Officer (CEO) to Drive Angolan Energy Strategy at African Energy Week (AEW) 2024

Published

on

Angolan Energy Strategy

Angola’s Sonangol will advance the country’s upstream investment drive at AEW: Invest in African Energy 2024

CAPE TOWN, South Africa, May 2, 2024/APO Group/ — 

Sebastião Gaspar Martins, CEO of Angola’s national oil company (NOC) Sonangol, will participate as a speaker at African Energy Week (AEW): Invest in African Energy 2024 event in Cape Town from November 4-8. This comes as the country seeks to attain energy security, affordability and reliability on the back of accelerated oil and gas development. The NOC will also serve as a sponsor for this year’s event.

Ahead of AEW: Invest in African Energy 2024, the parastatal continues to actively promote Angola’s hydrocarbon industry, along with the country’s national concessionaire National Agency of Oil, Gas and Biofuels (ANPG), with a view to stabilizing production above 1.1 million barrels of oil per day (bpd) and increasing its share of operated crude oil and natural gas production from two to 10% by 2027.

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

Sonangol has shown how NOCs can be used to drive large-scale development, mobilize sizeable investments and usher in a new era of sustainable energy projects in Africa

In September 2023, Sonangol spudded the Tobias-13 well as part of drilling and evaluation work in Block KON11 in the onshore Kwanza Basin, aiming to fast-track a potential discovery into development. Meanwhile, Angola has seen an uptick in exploration and production activities, with the ANPG finalizing production sharing negotiations from its latest 12-block tender and is set to launch its next oil and gas licensing round in 2025.

Leading international oil companies operating in the country, including TotalEnergies, continue to drive exploration and production activities. In Block 17, the supermajor is working towards first production at the CLOV Phase 3 project, consisting of a five-well expansion set to increase production by 30,000 bpd. TotalEnergies is also developing the offshore Cameia and Golfhino fields, as well as anticipating first production from the offshore Begonia oil field later this year, adding another 30,000 bpd to the country’s output.

Poised to diversify gas-based industries and serve as an intermediary fuel in the energy transition, natural gas in Angola has risen to the forefront of the country’s agenda. In December 2023, Sonangol inaugurated its Falcão Phase 2 gas project, effectively delivering gas from the Angola LNG plant to the Soyo 1 combined-cycle power plant. The project has served to boost the plant’s processing capacity to 125 million cubic feet while enabling gas distribution to industry and petrochemical plants across the southern region of the country.

With the first phase of the 60,000-bpd Cabinda Refinery set to start production this year – while production of the 200,000-bpd Lobito and 100,000-bpd Soyo refineries are also underway – Angola is well positioned to advance its downstream sector. Additionally, completion of the Barra Do Dande Ocean Terminal is on track for July 2024, supporting the country’s oil industry while contributing to the government’s stated goal of locally processed oil meeting up to 10% of domestic fuel demand.

“Sonangol truly represents an integrated energy company of the future. From operating as an NOC, the company has gradually transformed itself into a competitive energy player and continues to make great strides towards unlocking the true potential of Angola’s energy resources. Sonangol has shown how NOCs can be used to drive large-scale development, mobilize sizeable investments and usher in a new era of sustainable energy projects in Africa,” states African Energy Chamber Executive Chairman NJ Ayuk.

AEW: Invest in African Energy 2024 serves as a nexus for global leaders, stakeholders, governments and energy companies to converge, discussing Africa’s burgeoning projects, strengthening partnerships and finalizing new deals. With its comprehensive program, the conference will showcase Africa’s diverse energy industry, providing invaluable insights and opportunities for all participants. For more information about how you can get involved, visit www.AECWeek.com.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

Published

on

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.

Continue Reading

Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

Published

on

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.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

on

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).

Continue Reading

Trending