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The African Energy Chamber (AEC) Visits China to Tap into Private Investment for African Energy and Infrastructure

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African Energy Chamber

The African Energy Chamber’s working visit to China aims to unlock new areas of collaborative project development and financing – primarily across the oil and gas industry

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

Chinese foreign direct investment in Africa has increased significantly in recent years as Beijing strengthens its global trade and credit lines. Programs such as the Belt and Road Initiative – a China-led global infrastructure initiative – have seen up to $21.7 billion invested in Africa in 2023 alone while together, state-owned China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation and China Petroleum & Chemical Corporation represent the fourth-largest energy investors on the continent. As new opportunities in upstream hydrocarbon development, regional infrastructure and downstream processing unfold, China’s project portfolio in Africa is expected to substantially grow.

Given emerging opportunities for Chinese investors in Africa, the African Energy Chamber (AEC) – serving as the voice of the African energy sector – will conduct a working visit to China under efforts to promote new investment and global partnerships. A delegation led by AEC Executive Chairman NJ Ayuk will hold bilateral meetings with Chinese government officials and the private sector, with discussions centering around investment opportunities, bankable projects and China’s emerging role in Africa’s upstream, midstream and downstream sectors.

China’s Growing Energy Presence in Africa

As Africa’s pipeline of bankable oil and gas projects grows, Chinese investors are bound to play an even greater role in supporting development across the industry

Already boasting a strong presence in Africa’s mineral and renewable energy sectors, Chinese state-owned and private companies are turning their attention to developing African oil and gas resources. Wing Wah, a Chinese oil and gas company, is pioneering a comprehensive project in the Republic of Congo, designed to optimize resource monetization and promote the use of natural gas. The Bango Kayo project features a innovative development model for the Bango Kayo oilfield, extending production beyond the initial block lifecycles and harnessing previously flared gas. Through three phases, Wing Wah will incrementally enhance gas processing and valorization capabilities to produce LNG, butane, and propane. The primary focus is on meeting domestic demand, with surplus gas exported globally, positioning the project as a key contributor to the country’s energy landscape.

In Angola, China has invested just shy of $14 billion in the past decade, the majority of which in energy. At present, Chinese companies are advancing the development of refining projects while seeking new opportunities in upstream oil and gas. Earlier this year, a group of executives from CNOOC travelled to Angola to discuss investment opportunities in oil exploration. CNOOC is assessing an investment in Angola’s Block 24, a deepwater concession with promising potential. Construction firm China National Chemical Engineering also signed an MoU with Angola’s national oil company Sonangol in 2023 for the development of the 200,000 barrel per day Lobito Refinery – poised to be the country’s biggest.

In East Africa, CNOOC is developing the East African Crude Oil Pipeline in partnership with energy major TotalEnergies and the respective national oil companies of Uganda and Tanzania. Designed to transport crude from the Kingfisher and Tilenga oilfields in Uganda to Tanzania’s Port of Tanga, the 1,443-km pipeline is estimated to cost $5 billion. Of this, the project partners have already raised $2 billion and the Ugandan and Tanzanian governments are seeking an additional $3 billion in debt financing – primarily from Chinese lenders such as the Export-Import Bank of China and the China Export & Credit Insurance Corporation. Meanwhile, CNOOC is partnering with the Tanzania Petroleum Development Corporation to explore deep-sea Blocks 4/1B and 4/1C while holding talks with South Sudan to boost output at Blocks 3 and 7 in the Paloch fields. In West Africa, the company launched wildcat drilling in Gabon’s Blocks BC-9 and BCD-10 in 2023 and renewed its production sharing contract with the Nigerian National Petroleum Corporation and TotalEnergies for OML 130.

“As Africa’s pipeline of bankable oil and gas projects grows, Chinese investors are bound to play an even greater role in supporting development across the industry. Leveraging strong multilateral ties established under programs such as the Belt and Road Initiatives, Chinese companies are gradually emerging as the partners of choice for upcoming oil and gas projects in Africa. From upstream exploration to downstream infrastructure to power and manufacturing industries, Chinese companies can catalyze development as Africa aims to make energy poverty history by 2030,” states Ayuk.

The AEC’s working visit to China comes ahead of the African Energy Week (AEW): Invest in African Energy conference – Africa’s largest energy event, taking place November 4 – 8 in Cape Town. Amid China’s growing investment portfolio in Africa, AEW: Invest in African Energy serves to connect Chinese investors and project developers with African opportunities, fostering a new era of partnerships that drive projects forward. During the event, presentations, panel discussions and investor forums focus on bankable projects across the energy value chain in Africa, providing the information needed to advance investments.

Distributed by APO Group on behalf of African Energy Chamber.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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