Connect with us
Anglostratits

Business

Sonatrach, Société Nationale des Pétroles du Congo (SNPC) Expand Partnership to Develop Hydrocarbon Resources

Published

2 years ago

on

Sonatrach

A burgeoning partnership between Algeria’s Sonatrach and the Republic of Congo’s SNPC – including a high-level meeting in Brazzaville earlier this month – unlocks a new era of intra-African energy cooperation

JOHANNESBURG, South Africa, May 28, 2024/APO Group/ — 

Algeria’s national oil company (NOC) Sonatrach and its Congolese counterpart Société Nationale des Pétroles du Congo (SNPC) continue to show a steadfast commitment to driving intra-African collaboration and partnership within the energy sector. Leveraging the strengths of both organizations to boost energy production, personnel training and refining capabilities within the region, their partnership is poised to contribute to the development of Africa’s oil and gas resources for enhanced energy security and economic growth.

On May 21, a high-level delegation from Sonatrach, led by CEO Rachid Hachichi, visited SNPC headquarters in the Republic of Congo’s capital city of Brazzaville. This strategic meeting marked a crucial step in fortifying the relationship between the two energy giants, with discussions focusing on several key areas of mutual interest that promise to bring significant benefits to both parties.

Partnerships among African energy producers will be a key focus area of this year’s African Energy Week (AEW): Invest in African Energy 2024 conference, taking place from November 4-8 in Cape Town. Hachichi will lead a Sonatrach delegation at the event, which aims to catalyze collaboration and engagement with key stakeholders across Africa’s energy sector towards the common goal of increasing oil and gas production and eradicating energy poverty. Meanwhile, as the Republic of Congo seeks to ramp up oil production to 500,000 barrels per day and accelerate gas exploration and production activities, SNPC will showcase the country’s major investment opportunities, targeting gas monetization, improved infrastructure, clean technologies and the development of local talent.

Complemented by ongoing training initiatives initiated by SNPC and Sonatrach, the meeting provided an opportunity for the NOCs to discuss joint efforts in project financing, oil and gas infrastructure, regional markets, local content development, net-zero technologies, research and development and renewable energy collaboration. The meeting sought to ensure commercial, technical and technological collaboration in developing the two countries’ hydrocarbon resources, while supporting the exchange of research and development studies to optimize sector activities. The two parties also emphasized their commitment to facilitating data collection and the sharing of best practices, while supporting a wide range of capacity building initiatives.

The partnership also envisions establishing Sonatrach’s presence in the Republic of Congo through the launch of activities on new licensing permits. This strategic move will not only bolster Sonatrach’s footprint in the region, but also contribute to the development of the Republic of Congo’s upstream sector. The collaboration is expected to attract new investment and create job opportunities, thereby driving local content development and stimulating economic growth.

Finally, the visit served as a platform for the two entities to discuss recent market developments including updates to Congolaise de Raffinage, a refinery in Pointe-Noire that boasts a capacity of 600,000 tons of oil per year and covers 60-70% of the country’s refined petroleum product demand. The refinery recently underwent an overhaul of production units that served to modernize and increase its facilities and refining capacity.

Demand for natural gas in Africa is expected to peak by 2035 and remain the preponderant source of energy generation well into the 2050s

A critical aspect of the partnership between SNPC and Sonatrach is the sharing of Sonatrach’s extensive experience in the production, valorization and export of liquefied natural gas (LNG). Sonatrach, a global leader in LNG, will provide insights and best practices that can be adopted by SNPC to optimize its operations, as the Republic of Congo seeks to become a leading LNG exporter and key supplier to Europe.

This month’s visit by Sonatrach to Brazzaville comes on the heels of a high-level meeting between the two NOCs last year, which resulted in the signing of two Memoranda of Understanding (MOUs). Signed last July and August by Sonatrach CEO Toufik Hakkar and SNPC Managing Director Maixent Raoul Ominga, the MOUs laid the foundation for collaboration in the fields of exploration through to the marketing of hydrocarbons, with a view to maximizing the two countries’ hydrocarbon value chains. The pact sought to strengthen the development, transport, processing, distribution and supply of petroleum products, as well as the exchange of expertise, development of professional skills and training of SNPC personnel by Sonatrach.

These initiatives underscore the commitment of both Sonatrach and SNPC to the sustainable development of Africa’s energy resources. By leveraging their combined expertise, the two organizations aim to drive progress and innovation within the industry. The partnership represents a significant step forward in developing the continent’s diverse resource base and aligns with the AEW: Invest in African Energy conference’s commitment to fostering intra-African cooperation and achieving energy security.

“The strategy of SNPC and Sonatrach pays a lot of consideration to the role played by natural gas, which for the past five decades, has grown steadily, emerging as a critical energy source around the world. Africa will need it for industrialization and fighting energy poverty. Sonatrach is well advanced in gas monetization and sees the clear role that gas plays when it comes to the energy transition. It emits just half as much carbon dioxide as coal, and in many cases, it is cheaper than either coal or oil as a power source,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

“Demand for natural gas in Africa is expected to peak by 2035 and remain the preponderant source of energy generation well into the 2050s. For several African industries, gas is also likely to remain or grow as a fuel stock of choice, owing to its abundance and cost-effectiveness relative to other energy sources. SNPC and Sonatrach’s leadership are visionary in their thinking around intra-Africa energy trading. There is a huge market in Africa, and also an export market, which they are going to lead. SNPC’s Gas Master Plan provides world-class opportunities for investment and partnerships,” concluded Ayuk.

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.

Distributed by APO Group on behalf of African Energy Chamber.

Related Topics:
Continue Reading
Advertisement

Business

Africa Launches the First Pan-African Pact for Insurance Inclusion

Published

18 hours ago

on

June 23, 2026

By

Africa

400 decision-makers gathered in Cotonou to accelerate access to insurance and contribute to doubling insurance penetration by 2040

DAKAR, Senegal, June 23, 2026/APO Group/ –Faced with a major paradox representing nearly 19% of the world’s population while accounting for less than 1% of global insurance premiums African insurance stakeholders are mobilizing.

 

From July 6 to 8, 2026, the Federation of African National Insurance Companies (FANAF) will organize the General Assembly on Insurance for All at the Sofitel Hotel in Cotonou, Benin, a major pan-African gathering dedicated to inclusive insurance.

The event will bring together nearly 400 African decision-makers from governments, regulatory and supervisory authorities, insurance and reinsurance companies, financial institutions, development banks, technical and financial partners, as well as professional organizations from across the continent.

The ambition is clear: to foster a shared vision and concrete commitments aimed at accelerating access to insurance for African populations while strengthening the sector’s contribution to the continent’s economic and social development priorities.

The discussions will culminate in the adoption of the Pan-African Pact for Insurance Inclusion and a 2026–2030 Strategic Action Plan, designed to structure collective action around an ambitious objective: contributing to the doubling of insurance penetration across the FANAF region by 2040.

An Economic, Social and Development Imperative

Within the CIMA zone, insurance penetration remains below 1% of GDP, compared to more than 6% globally.

As a result, millions of households, farmers, entrepreneurs, SMEs and informal sector actors remain deprived of essential protection mechanisms against health, climate, economic and social risks.

For FANAF, this reality now constitutes a major development challenge.

Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments

“Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments. The Cotonou General Assembly must mark the starting point of a new continental ambition for African insurance and its role in the continent’s economic transformation,” said Mamadou Koné, President of FANAF.

Beyond Insurance: A Driver of Continental Transformation

For FANAF, insurance is no longer merely a risk coverage mechanism. It is also a strategic lever for economic resilience, savings mobilization, investment security, SME financing, support for climate transitions and the strengthening of financial inclusion.

Through this General Assembly, FANAF seeks to reposition insurance as a key stakeholder in Africa’s economic, social and financial transformation.

A Pact to Accelerate Action

The conclusions of the General Assembly will lead to the adoption of the Pan-African Pact for Insurance Inclusion, a reference framework intended to mobilize governments, regulators, market players, financial institutions and development partners around shared objectives.

The Pact will be accompanied by a 2026–2030 Strategic Action Plan defining priority intervention areas, coordination mechanisms and monitoring arrangements for the commitments undertaken.

A broad mobilization of public, private and financial partners will support its implementation in order to translate commitments into tangible results for African populations and economies.

Cotonou 2026: Building a Shared Vision

Beyond the insurance sector, the General Assembly aims to create an unprecedented platform for dialogue between governments, regulators, investors, financial institutions, technical partners and market actors in order to identify the levers needed to accelerate insurance inclusion across the continent.

Holding this event in Benin reflects the country’s broader economic and financial transformation momentum and illustrates the collective determination of African stakeholders to develop solutions tailored to the continent’s realities.

Through this initiative, FANAF intends to make Cotonou 2026 a defining moment for the future of African insurance and the starting point of a lasting continental mobilization in favor of insurance inclusion.

Distributed by APO Group on behalf of Fédération des Sociétés d’Assurances de Droit National Africaines (FANAF).

 

Continue Reading

Business

Flat6Labs and International Finance Corporation (IFC) Launch StartAlgeria, a Capacity-Building Program Designed to Empower the Organizations Progressing Algeria’s Startup Ecosystem

Published

18 hours ago

on

June 23, 2026

By

Flat6Labs

StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices

ALGIERS, Algeria, June 23, 2026/APO Group/ –Flat6Labs (www.Flat6Labs.com) and IFC in collaboration with the Ministry of Knowledge Economy, Startups and Micro-Enterprises are launching StartAlgeria, a capacity-building program that puts Entrepreneur Support Organizations (ESOs) at the forefront of Algeria’s ecosystem future. The program is designed to equip Algerian ESOs reinforcing pre-seed and seed-stage startups with the expertise, frameworks, and networks needed to contribute to a stronger, more competitive entrepreneurship ecosystem in Algeria and expand into global markets.

 

StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices adapted to each organization’s needs, a community-driven approach that focuses on peer learning, and facilitating connections with investors, policymakers, and key stakeholders.

Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale

StartAlgeria will pilot a first cohort focusing on incubators in the capital, Algiers. Following a call for application, the selected ESOs will go through a structured program comprising workshops and masterclasses covering key areas such as startup selection, program design and delivery, and investment readiness. In addition to the core program, participating ESOs will benefit from 6months of post-program mentorship, focusing on areas such as fundraising strategy, partnership development, financial sustainability, and program improvement. This sustained engagement’s goal is to provide a lasting impact in how Algerian ESOs operate and what they’re able to offer the startups they champion.

Yehia Houry, CEO of Flat6Labs, shares “Algeria’s startup ecosystem is demonstrating remarkable potential and a rapidly growing level of maturity, driven by an ambitious new generation of founders, increasing institutional support, and a strong national commitment to innovation and entrepreneurship. The opportunity today lies in further empowering entrepreneurship support organizations to match this momentum by strengthening their ability to identify and nurture high-potential startups, deliver impactful and results-driven programs, and create stronger connections between entrepreneurs and sources of capital. With the right support structures in place, Algeria is well positioned to become one of the leading innovation hubs in the region.”

“Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale. Through StartAlgeria, we are committed to ensuring that the organizations standing behind founders are equipped with the tools, frameworks, and expertise to take them from early ideas to investment-ready ventures. This program is a direct expression of IFC’s long-term confidence in Algeria’s private sector and in the ecosystem’s capacity to produce the next generation of high-impact companies.” underscored Cemile Hacibeyoglu Ceren, WBG Resident Representative in Algeria.

“The launch of StartAlgeria marks an important step in reinforcing Algeria’s startup support ecosystem. By strengthening the capabilities of Entrepreneur Support Organizations, we are investing in the long-term growth, resilience, and international competitiveness of Algerian startups. This initiative reflects our shared ambition to build a dynamic innovation-driven economy and create new opportunities for entrepreneurs across the country,” said H.E Mr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro-Enterprises.

This IFC program is implemented in partnership with the Government of the Netherlands.

Distributed by APO Group on behalf of Flat6Labs.

Continue Reading

Business

Hong Kong unlocks new opportunities with Central Asia

Published

19 hours ago

on

June 23, 2026

By

Hong Kong

HONG KONG SAR – Media OutReach Newswire – 23 June 2026 – Led by Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, a high-level delegation visit to Kazakhstan and Uzbekistan (May 31 – June 5) is already paying dividends, forging fresh opportunities to deepen ties between Central Asia, Hong Kong and the Chinese Mainland.

The business delegation comprised over 70 representatives from Hong Kong and Mainland enterprises of various sectors.

During the visit, 96 bilateral memoranda of understanding and agreements were reached, including a total of 15 co-operation documents at the government level between Kazakhstan and Uzbekistan respectively.

“The examples of agreements and co-operation are just so abundant that they range from the service sector to heavy industries such as mining and infrastructure development,” Mr Lee said. “I think the sky is the limit.”

The multiple outcomes achieved during the trip demonstrate Hong Kong’s role as a functional platform for the Belt and Road (B&R) Initiative, as the city actively plays its roles as a “super connector” and “super value-adder” to promote broader and deeper co-operation between the two places and establish a hub-to-hub co-operation model.

“Kazakhstan is an important commercial and logistics hub connecting China and Europe. It is also the place where the Belt and Road Initiative was first proposed, and is Hong Kong’s largest trading partner in Central Asia. There are broad prospects for further co-operation,” Mr Lee said, adding that a lot of B&R projects are also being pursued in Uzbekistan.

“For example, Uzbekistan sits in the heart of the corridor of Asia and Europe, so logistical development, railway development, and also how we can complement and supplement each other in cargo handling will be an area for a very wide range of co-operation.”

The Chief Executive also encouraged companies in Central Asia to leverage Hong Kong’s advantages under the “one country, two systems” principle.

“Under this unique principle, Hong Kong has its own economic, social, legal, legislative and judicial systems. We are the only common law jurisdiction in China. We have our own currency, with no capital or foreign exchange controls. We are, as well, a separate customs territory,” Mr Lee said.

Building on the positive outcomes from the delegation’s mission to Central Asia, Mr Lee welcomed the Deputy Prime Minister of Kazakhstan, Kanat Bozumbayev, to Hong Kong (June 10) and they both attended the Alatau City Investment Round Table (June 11).

Speaking at the event, Mr Lee said Hong Kong could contribute to the future success of Kazakhstan’s innovative, high-tech Alatau City in three concrete ways: as a gateway to global capital; a gateway to the Chinese Mainland and the Greater Bay Area; and as a partner in talent and technology.

“We share a development vision with Alatau City and Kazakhstan,” Mr Lee said, “Today, right here, right now, is a golden opportunity to bring our two economies closer together.”

He looked forward to Hong Kong and Kazakhstan achieving complementary advantages and co-ordinated development across different sectors and welcomed enterprises in Kazakhstan to make good use of Hong Kong’s premier financial and innovation and technology platforms, as well as its world-leading professional services, to explore more business opportunities.

 

 

Continue Reading

Trending