Connect with us

Business

The Gambia and the African Development Bank Group to boost rice output and uplift youth and women entrepreneurs

Published

on

African Development Bank

The African Development Bank Group is supporting the country’s efforts to produce 200,000 additional tons of paddy rice by 2028, reducing imports to zero

BANJUL, Gambia, October 3, 2023/APO Group/ — 

Gambian President Adama Barrow and African Development Bank Group (www.AfDB.org) head Dr Akinwumi Adesina pledged on Monday to work together to boost rice production and invest in the country’s vibrant youth and women entrepreneurs.

“The Russian-Ukrainian war presents an opportunity for us to solve the problem of food security. There’s no reason why Africans shouldn’t feed themselves,” President Barrow said, on the first day of Adesina’s two-day official visit to The Gambia. “We should commercialise our rice production to produce enough rice for our people.”

Local production currently meets less than 20% of the demand for rice, which is The Gambia’s staple food (https://apo-opa.info/3PGgDzN). The African Development Bank Group is supporting the country’s efforts to produce 200,000 additional tons of paddy rice by 2028, reducing imports to zero.

In addition to support for women and youth entrepreneurship in a country where around 65% of the population is under the age of 25, Barrow also identified infrastructure, particularly road construction, as a critical area for the African Development Bank’s support.

“We are grateful for the African Development Bank’s support. The African Development Bank is our bank. We are doing a lot as a government, but we need the support of the bank to expand our work,” President Barrow said.

On the first official visit by an African Development Bank Group president for more than 20 years, Adesina described The Gambia as an important shareholder since it joined the institution in 1974.

Since we have been supporting The Gambia, we have provided about $540 million in support

“Since we have been supporting The Gambia, we have provided about $540 million in support,” Adesina said. He added: “Currently, our support is quite significant. It is about $282 million, which covers energy, inequality, agriculture, governance, water and sanitation, and support for youth and women.”

Adesina highlighted the importance of the Senegambia Bridge to cross-border trade. The bridge opened in 2019. He said: “I told President Barrow how pleased I am with the Senegambia Bridge, which the African Development Bank financed at the cost of about $104 million. It is a landmark piece of infrastructure. A beautiful bridge that has improved trade between Senegal and The Gambia and the rest of the West African region.”

The African Development Bank Group is helping to cushion The Gambia from some of the impacts of Russia’s war in Ukraine, including rising food insecurity and commodity prices. It has provided about $19 million to help the country produce more food, with the objective of achieving self-sufficiency in rice production.

Support for electricity in The Gambia will bring power to about 1.3 million people. The Bank Group’s Board has approved a new $21 million project that will increase rural access to electricity, as well as several other projects.

Adesina said: “I am excited by the president’s determination to support the youth of The Gambia, and I told him that the African Development Bank is ready and willing to support and finance the creation of what we call Youth Entrepreneurship Investment Banks. These will be new financial institutions that will support young Gambian entrepreneurs to thrive. And the president was very receptive to this… He wants to see a lot of work done to support women in The Gambia.”

The African Development Bank is also supporting the establishment of its Affirmative Finance Action for Women in Africa (AFAWA) initiative in The Gambia. It will provide funding for financial institutions to lend money to women entrepreneurs at affordable rates.

“I commended the President’s efforts on infrastructure,” Adesina said. He added: “As he told me, there is no development without infrastructure, and I agree with him. He said the first, second, and third priorities for him are one and the same: infrastructure.”

The African Development Bank Group is uniquely positioned to continue providing long-term concessional financing and advisory services to The Gambia to accelerate structural transformation and address the drivers of fragility. This makes it one of the country’s preferred development partners.

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

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

Published

on

The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

Continue Reading

Business

Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

Published

on

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Business

Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

Published

on

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Trending

Exit mobile version