Connect with us

Business

Sonangol Positions Itself as a Reliable Investment and Industry Growth Partner at African Energy Week (AEW) 2022

Published

on

Sonangol

Sonangol has showcased itself as a reliable investment and energy sector growth partner for investors seeking to explore Angola’s massive energy sector opportunities

JOHANNESBURG, South Africa, October 20, 2022/APO Group/ — 

During a robust presentation and panel discussion held at the Invest in Angola side event at the African Energy Week (AEW) (https://AECWeek.com/) conference and exhibition in Cape Town, Osvaldo A. Inacio, Executive Director, Sonangol, showcased investment opportunities across the Angolan oil and gas industry and Sonangol as a reliable partner for global investors seeking massive and sustainable returns on energy investments.

Having reformed its mission, vision and values to ensure the sustainable development of the Angolan energy sector to drive resource development and monetization for energy security and economic growth, the company is an ideal firm to partner with for investors seeking to invest in a stable energy market and political environment, according to Inacio.

“We have played a crucial role in positioning Angola as Africa’s largest crude oil producer with Sonangol owning 17.5% of the country’s total production and securing 4.2 million tons of refined products to meet local demand. We have huge goals, our ambition is to increase production, gas monetization and development and set up Angola as a regional refinery hub. With the targets that we have set, we are looking for exploration and production partners to up production. We have the resources in ground, we just need to pump to drive industry growth. Regarding the energy transition, it is there but it needs to be done in a fair and just way, hence we need to continue investing in exploration but in a cleaner way. Opportunities for those interested in investing in exploration include in blocks 406 and 506 where we have stakes available for grab.”

With the targets that we have set, we are looking for exploration and production partners to up production

Commenting on opportunities across the gas industry as Sonangol seeks to become a key player to support local consumption and exports, Inacio gave an update of some of the projects the energy company is currently deploying.

He said Sonangol signed a new gas concession in which the company has a big stake and is seeking reliable partners and investors to cooperate with to accelerate development. He said “the country is open for investment for gas, even for solar and we invite investors. We have moved towards gas development in Opaya in the northern side of the country where we are building a fertilizer plant which we will use the gas to power. We are participants in the New Gas Consortium and partners in the Sanha Lean Gas Project.”

Across the midstream sector, the executive highlighted projects such as the Soyo, Luanda and Cabinda refineries and the Barro do Dande Ocean Terminal which Sonangol is implementing and seeking investors to join.

He highlighted that ‘Angola has been importing a lot of refined products and we want to change that, why we have three refinery projects currently underway. Lobito is going to be a game changer for the country where we are looking for investors interested in joining us. We are grabbing partners as we go to avoid delays. The three refineries will add up to 450 000 barrels of energy per day in total, meaning there is going to be space for exports across the region. We are also discussing pipelines with regional countries. We have had a good conversation with Afreximbank about financing these projects.”

The executive director also promoted Sonangol’s renewable energy strategy which includes a 50 MW Solar PV plant the company is developing in Caracula, a 136 GWh gas-to-power generation facility in Zaire Falcao and a green hydrogen project set to be deployed in Saumbe while emphasizing that the company is there to enhance oil and gas exploration, production, trading and exploitation as well as energy transition projects. “We are not giving up oil yet, not just yet. We will be going to gas and move to renewables to address energy poverty in the country and drive economic growth. We plan to develop 1000 MW of renewables by 2030.”

Distributed by APO Group on behalf of African Energy Week (AEW).

Events

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

Published

on

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

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

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

Exit mobile version