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The Democratic Republic of the Congo (DRC) Albertine Graben Oil to be Transported via East African Crude Oil Pipeline (EACOP)

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3 years ago

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Crude Oil

The respective Ministries of Uganda and the DRC have taken steps towards an agreement whereby oil produced at the DRC’s Albertine Graben blocks will be transported via the East African Crude Oil Pipeline

JOHANNESBURG, South Africa, May 11, 2023/APO Group/ — 

The respective ministries of Uganda and the Democratic Republic of the Congo (DRC) have taken steps towards establishing a formal agreement which would see oil produced at exploration blocks in the DRC’s Albertine Graben transported via the East African Crude Oil Pipeline (EACOP) – a 1,443km-long heated pipeline connecting Uganda’s Kingfisher and Tilenga oilfields with international markets via the Tanga Port in Tanzania. A bilateral meeting took place in Kampala this week between Uganda’s Minister of Energy and Mineral Development, Hon. Dr. Ruth Nankabirwa Ssentamu and the DRC’s Minister of Hydrocarbons, Hon. Didier Budimbu Ntubuanga, centered on the strengthening of regional relations and advancing access to regional infrastructures. The meeting laid the foundation for a formal memorandum of understanding (MoU) to be signed between the countries – following the preparation of reports by technical teams of both countries – kickstarting a new era of energy security and regional trade on the back of the EACOP.

Serving as the voice of the African energy sector, the African Energy Chamber (AEC) (https://EnergyChamber.org/)  commends the steps taken by both Uganda and the DRC to maximize the development of the EACOP for regional security. As a strong advocate for the development of the pipeline, the AEC recognizes this as a step in the right direction towards monetizing DRC oil, increasing revenue generation through exports, and trigging newfound growth across the East African economy.  

“The bilateral meeting held between the energy and petroleum ministries of Uganda and the DRC represents a crucial step towards lifting East Africa out of energy poverty. At the Chamber, we commend the efforts taken by the countries towards maximizing the EACOP. The pipeline offers critical opportunities, not just for Uganda and Tanzania, but for the East African region as a whole,” stated NJ Ayuk, Executive Chairman of the AEC.

The bilateral meeting held between the energy and petroleum ministries of Uganda and the DRC represents a crucial step towards lifting East Africa out of energy poverty

While the construction of the EACOP continues to be faced with interference by international environmental groups, the bilateral meeting and upcoming MoU are a testament to the role the pipeline will play in East Africa. Representing a future major oil producer, the pipeline will enable Uganda to export oil from oilfields located in the Albertine Rift Basin, located on the country’s western border, shared with the DRC. With an MoU, the pipeline will also enable the DRC to export oil. The Albertine Graben – also known as the Lake Albert Basin – lies on the western border of Uganda and the eastern border of the DRC, and despite its significant potential, much of the rift area remains underexplored. Now, with the DRC opening up 30 oil and gas blocks for exploration in 2022, new discoveries are on the horizon as players move to replicate success seen across the border in Uganda.   

The EACOP steps into this picture, offering a solution to getting high-demand crude to international markets. In addition to benefits created through revenue generation from exports, the pipeline and associated upstream buzz is expected to open opportunities for job creation, infrastructure development, market access and other crucial economic prospects. The pipeline will also enable East African consumers to tap into regional energy supplies, thereby tackling security across the energy-poor region.

Currently, the EACOP is on track to commence production in 2025, with both the governments of Uganda and Tanzania confident that they will be able to secure the funding required. While international lenders have recently pulled out of the development, caving into pressure from environmental activities, China is expected to step in as the primary financier, leveraging the country’s already strong presence in both the region and the pipeline’s development to see the EACOP’s completion. As the construction gains momentum and the DRC begins opening up its oil-rich Albertine Graben prospect, East Africa is on the precipice of widespread economic growth on the back of oil and gas monetization and intra-African infrastructure development.

“The Chamber has and will continue to maintain its unwavering support for the development of the EACOP. The pipeline will bring the economic development opportunities that East Africa so desperately needs. The region has significant quantities of untapped oil and gas, and it would be a crime to leave them in the ground. With over 600 million people currently without access to electricity and over 900 million without access to clean cooking solution, Africa needs its oil and gas to develop, industrialize and grow. The AEC will continue supporting and promoting this critical infrastructure project,” Ayuk said.

Distributed by APO Group on behalf of African Energy Chamber.

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

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2 days ago

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February 6, 2026

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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.

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

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2 days ago

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February 6, 2026

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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.

 

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

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2 days ago

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February 6, 2026

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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).

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