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The 8th Tokyo International Conference on African Development to Shore Up Japanese-Africa Economic Cooperation

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African Development Bank

Running from 27 to 28 August, TICAD8 will bring together delegates from across the continent, including the African Development Bank Group

ABIDJAN, Ivory Coast, August 25, 2022/APO Group/ — 

The African Development Bank Group (www.AfDB.org) will play a key role in the eighth edition of the Tokyo International Conference on African Development (TICAD) taking place in the Tunisian capital, Tunis, this year as Japan—a long-time development partner of Africa—continues to lend its economic weight to the continent’s progress.

Running from 27 to 28 August, TICAD8 will bring together delegates from across the continent, including the African Development Bank Group.

Japan is expected to offer further support to strengthen the development of communication infrastructure on the continent and to help address food security. Through continued cooperation with Japan, the African Development Bank Group continues to promote strong, inclusive, and sustainable growth in Africa.

The event is co-organized by the Japanese government, the United Nations Office of the Special Adviser on Africa, the United Nations Development Programme, the African Union Commission, and the World Bank.

Japan and the African Development Bank spearheaded the Enhanced Private Sector Assistance for Africa initiative

The African Development Bank Group is co-organizing several official side events during TICAD8, some of which will be virtual. All main TICAD8 events will be in-person gatherings.

African Development Bank Group President Akinwumi Adesina will deliver a keynote statement during TICAD8 plenary on Economy. Adesina will also deliver keynote remarks at TICAD8 Business Forum.

Dr. Adesina will meet with senior Japanese government officials, African leaders, and business participants. Discussions will cover partnership opportunities to increase support for Africa’s transformation as the continent builds back better from the Covid-19 pandemic.

The Japanese government and the African Development Bank Group enjoy a privileged relationship. Japan is one of the largest contributors to the institution. It recently participated in the 15th replenishment of the African Development Fund, the Bank Group’s concessional lending arm, and in the African Development Bank’s 7th General Capital Increase.

Japan and the African Development Bank spearheaded the Enhanced Private Sector Assistance for Africa initiative. It is the largest and longest-standing bilateral partnership that the African Development Bank Group has with any of its member countries. The four components of this assistance are: accelerated co-financing; non-sovereign loans; the Fund for African Private Sector Assistance, and the Private Sector Investment Finance scheme. These four components support the implementation of the African Development Bank’s private sector development strategy.

The Enhanced Private Sector Assistance for Africa initiative has been successfully implemented over three phases from 2007. Over the years, the African Development Bank Group and Japan—through the Japan International Cooperation Agency—have contributed approximately $5.2 billion to investments in sovereign operations and non-sovereign operations. They have also invested $86.9 million in technical assistance and capacity building. The fifth phase of EPSA is being negotiated and will be announced during TICAD8.

The African Development Bank Group promotes development agendas aligned with the Japanese government to facilitate food security, climate change, health, digitalization and debt management across Africa.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Golar Liquefied Natural Gas (LNG),Chief Commercial Officer (CCO) Joins Invest in African Energy (IAE) 2025 Speaker Lineup

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Liquefied Natural Gas

Federico Petersen, Chief Commercial Officer of Golar LNG, will share his expertise on the future of LNG in Africa and the role of floating LNG solutions in driving the continent’s energy transformation at the Invest in African Energy Forum in Paris next month

PARIS, France, April 25, 2025/APO Group/ –Federico Petersen, Chief Commercial Officer (CCO) of Golar LNG, will join the upcoming Invest in African Energy (IAE) 2025 Forum in Paris to discuss scaling LNG in Africa, overcoming infrastructure challenges and attracting investment. With Africa rapidly expanding its gas infrastructure, Petersen’s insights are expected to showcase how innovative LNG solutions can support sustainable energy growth across the continent.

As a global leader in floating LNG (FLNG) solutions, Golar LNG is advancing gas monetization across Africa. The company is actively involved in several key projects, including the Hilli Episeyo FLNG facility off the coast of Cameroon, operational since 2018, which plays a crucial role in unlocking regional gas resources with cost-effective, scalable LNG production. Golar LNG is also a key player in the Greater Tortue Ahmeyim project offshore Senegal and Mauritania, where it owns and operates the Gimi FLNG, which received its first feed gas in January 2025, marking a major milestone in LNG export operations.

IAE 2025 (https://apo-opa.co/3ECl25bis an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Additionally, Golar LNG is exploring further opportunities across the continent, including ventures in the Republic of Congo and Nigeria. In June 2024, the company signed an agreement with the Nigerian National Petroleum Corporation to deploy an FLNG vessel in the Niger Delta, utilizing 500 million cubic feet of gas per day to generate LNG, propane and condensate, with a final investment decision expected later this year.

The growth of LNG in Africa is set to accelerate in the coming years as key markets seek to tap into their vast natural gas reserves. As such, Petersen’s participation at IAE 2025 is poised to showcase the pivotal role of FLNG in enhancing energy security, driving economic growth and fostering regional cooperation.

As the global energy landscape shifts toward cleaner, more sustainable sources, LNG will remain crucial in powering Africa’s future, offering a reliable transition fuel to support the continent’s ambitious energy goals. With IAE 2025 as a platform for high-level dialogue and partnerships, the forum will provide an invaluable opportunity for stakeholders to explore the latest LNG developments, deepen collaboration and drive investments that will shape the future of African energy.

Distributed by APO Group on behalf of Energy Capital & Power

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VFD Group Plc Reports Remarkable Growth in Audited Financial Statement for 2024 Financial Year

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VFD Group Plc

Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023

LAGOS, Nigeria, April 25, 2025/APO Group/ –In a stunning turnaround, VFD Group Plc (https://VFDGroup.com), a proprietary Investment firm, has announced its audited financial results for the year ended December 31, 2024, showcasing exceptional growth. The journey to this milestone was paved with strategic initiatives and a relentless pursuit of innovation.

Just a year ago, businesses globally struggled with macroeconomic headwinds, and VFD Group, not an exception, reported a pre-tax loss of N1 billion in 2023. However, the team’s dedication and forward-thinking approach yielded impressive results. The Group reported a pre-tax profit of N11.2 billion, representing a 1202% year-on-year growth.

Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023. Net revenue increased by 90% to N71.0 billion, while operating profit grew by an impressive 104% to N48.8 billion.

The company’s financial performance was nothing short of remarkable, with notable achievements including:

– Investment and similar income: N74.6 billion, up 98% YoY

– Net investment income: N59.0 billion, up 95% YoY

– Net revenue: N71.0 billion, up 90% YoY

– Operating profit: N48.8 billion, up 104% YoY

– Pre-tax profit: N11.2 billion, a significant turnaround from a N1 billion loss in 2023

As of April 22, 2025, VFD Group’s market capitalisation surged by 116% to hit N121.6 billion from N56.2 billion year to date.

These outstanding results reflect the success of our team’s efforts. As VFD Group looks to the future, it remains committed to delivering exceptional value to its customers and stakeholders.

Distributed by APO Group on behalf of VFD Group Plc.

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African Energy Chamber (AEC) Champions Smart Policy, Strategic Partnerships to Advance Namibia’s Oil & Gas Discoveries

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African Energy Chamber

The African Energy Chamber is a strategic partner of the Namibia International Energy Conference, which kicked off today in Windhoek

WINDHOEK, Namibia, April 24, 2025/APO Group/ –As a strategic partner of the Namibia International Energy Conference (NIEC), the African Energy Chamber (AEC) (www.EnergyChamber.org) is calling for a deliberate and accelerated approach to moving Namibia’s recent oil and gas discoveries into production – emphasizing the importance of speed, investor confidence and strategic collaboration.

Speaking during a high-level panel at NIEC 2025, AEC Executive Chairman NJ Ayuk urged Namibia to seize the momentum of its frontier discoveries, while avoiding the pitfalls that have stalled progress in other hydrocarbon-rich African nations. He emphasized that Namibia’s path to becoming a regional energy hub hinges on its ability to learn from international case studies and execute deals that ensure long-term national benefit.

“Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries,” Ayuk stated. He pointed to Guyana as a prime example, noting how the South American country developed a robust strategy focused on national benefit and successfully attracted billions in investments to fast-track its energy projects.

Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries

In contrast, Ayuk cautioned against the delays experienced by countries like Mozambique, Tanzania, Uganda and South Africa, where production was significantly postponed, leading to rising project costs and lost opportunities. “There is a growing movement trying to discourage Africa – and Namibia – from producing its oil and gas. We must resist that,” he added.

Reinforcing the need for investor-friendly terms, Justin Cochrane, Africa Upstream Regional Research Director at S&P Global Commodity Insights, highlighted the necessity of contract stability, transparent data-sharing and a balanced approach to fiscal negotiations. “It’s natural that Namibia wants to maximize its benefits, but pushing too hard on IOCs can result in getting 100% of nothing… The first milestone must be achieving first oil,” said Cochrane.

Representing Namibia’s national oil company, Victoria Sibeya, Interim Managing Director of NAMCOR, stressed that the company is actively engaged in every phase of the industry, from data acquisition and exploration to shaping the downstream and midstream vision. “We are not just bystanders,” said Sibeya. “NAMCOR is deeply involved in data acquisition, exploration and the exchange of knowledge and technology with our partners. We are also preparing to invest in downstream and midstream sectors to ensure that we can add value once production begins.”

Echoing the call for local development, Adriano Bastos, Head of Upstream at Galp, underscored the need for early and continuous skills development – proposing that Namibians be trained abroad in specialized areas like FPSO operations to ensure they are prepared to lead once production begins at home. “Namibia has capabilities that are rare in the region, but more collaboration with international partners is essential to build the local skills base,” he said.

Bastos noted that Namibians make up 25% of Galp’s workforce in the country, including its first female offshore base manager. “We are proud of the strides we have made. Our nationalization plans are aggressive, and we work closely with [the Namibian Ports Authority] and other local entities to implement meaningful capacity-building projects.”

As Namibia stands on the cusp of transforming exploration success into production, the message from industry leaders is clear: time, trust and talent will determine the country’s trajectory. Through cross-border collaboration, pragmatic deal-making and a strong national vision, Namibia can emerge not just as an oil producer – but as a continental model for inclusive, forward-thinking energy development.

Distributed by APO Group on behalf of African Energy Chamber

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