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The Way of a Legend; An Italian Champion of African Energy: Eni Chief Executive Officer (CEO) Claudio Descalzi (By NJ Ayuk)

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Energy

As a longtime promoter of African energy potential, Descalzi has overseen major hydrocarbon projects in countries from Congo to Libya to Nigeria — both oil and natural gas

JOHANNESBURG, South Africa, September 23, 2025/APO Group/ —By NJ Ayuk, Executive Chairman, African Energy Chamber (https://EnergyChamber.org/).

Eni CEO Claudio Descalzi has never stopped making Africa his and Eni’s first choice for investment.

I know Mr. Descalzi as a shrewd negotiator, a disciplined CEO, and a strong advocate of natural gas development on our continent. As he champions African energy independence and sovereignty, natural gas has been and remains key to his work in Africa.

Even during difficult times, he has persisted in furthering his company’s investments in Africa, as he did following the Russian invasion of Ukraine. At that critical time, he encouraged the EU to consider imports from Africa to replace Russian petroleum, including the 20 billion cubic meters (bcm) of Russian gas Italy was importing annually.

As a longtime promoter of African energy potential, Descalzi has overseen major hydrocarbon projects in countries from Congo to Libya to Nigeria — both oil and natural gas. Under his leadership, Eni has launched some of the continent’s fastest-moving liquefied natural gas (LNG) projects while prioritizing low carbon output.

Along with the business side of his role, the CEO has encouraged the company’s country managers and executives to take on many social responsibility efforts in Africa.

On a more personal note, when you talk to many African President’s, Ministers and business leaders, he is always a source of wise counsel — something I see as the mark of a true legend. He is always willing to work with others and share his experiences and knowledge about doing business in other markets.

The Man and the Company

A native of Milan and a 1979 physics graduate of the city’s namesake university, Descalzi has a deep history with Eni, having started in 1981 as a field petroleum engineer. His broad understanding of the industry and the company has been forged within many roles of increasing responsibility — in Africa, the Middle East, China, and — from 2010 to 2014 —as Chairman of Eni UK.

In May of 2014, he took on the role of CEO for Eni.

Among the founding CEOs of the 2014 Oil and Gas Climate Initiative, Descalzi is also a member of the European Round Table for Industry and co-chair of the Oil and Gas Governors Community of the World Economic Forum.

A Visiting Fellow at The University of Oxford, he has received many significant industry awards, among them the esteemed Charles F. Rand Memorial Gold Medal award from the Society of Petroleum Engineers and the American Institute of Mining Engineers.

To its great credit, Eni has been working in Africa since the 1950s to develop the continent’s resources and form partnerships that secure a supply of natural gas and advance the world’s energy transition.

Those efforts, employing a mix of traditional, renewable, and bio energy, are making progress toward the 2050 Net Zero target in 13 African countries. It’s also important to note that the company employs thousands in Africa, and that 80% of the gas it produces there goes to local markets.

Eni Activity in Africa Under Descalzi’s Leadership

Egypt, Algeria, and Libya have been cornerstones of Eni’s African presence. Eni’s history in Libya began in 1959 with the acquisition of its first concession. After a 10-year hiatus in onshore drilling in Libya, caused primarily by the country’s civil war, Descalzi made sure that Eni was one of the first companies to re-enter the country in 2024.

Eni’s activities in Algeria date back to the early 1980s, and Algeria remains one of the company’s largest suppliers of gas to Europe.

Egypt, meanwhile, gained global attention in 2015 with Eni’s Zohr discovery, one of the largest gas finds ever in the Mediterranean.

Internal demand in these countries — because of demographic growth — is increasing at about 7 to 8% every year, this means they need gas … they need investment

Eni now plans to invest close to USD9 billion each in Algeria and Egypt, as well as Libya, over the next four years. Descalzi has stated (https://apo-opa.co/46MtAlb), “Internal demand in these countries — because of demographic growth — is increasing at about 7 to 8% every year, this means they need gas … they need investment.”

In Angola, I was lucky to have been with Mr. Descalzi when his efforts alongside BP to launch the Agogo floating production, storage, and offloading (FPSO) vessel and to form the first major international oil company (IOC) joint venture in Africa, Azule Energy.  During a recent meeting with Angolan President Lourenco in Luanda, the two leaders talked about Azule’s exploration and delivery achievements. They noted that the Agogo, planned to become the first carbon-neutral FPSO in Angola, began production 10 months ahead of the original plan.

As the biggest independent equity oil and gas producer in Angola, Azule Energy holds 18 licenses, 11 of which are operating and producing a total of 210,000 barrels per day (bpd).

Congo:  In 2023, Descalzi was instrumental in launching the Congo LNG project, encompassing the installation of two floating LNG (FLNG) plants to process gas from the country’s current and future fields, helping foster European energy security, while providing sufficient gas for Africa. Tango FLNG, with a 0.6 million tons per annum (MTPA) capacity, began production in December 2023. Nguya FLNG is set to begin production (2.4 MTPA) by the end of this year, boosting the total capacity of the project to 3 MTPA.

In Côte d’Ivoireunder Descalzi’s leadership, Eni has been working since 2015, and is currently working in 10 deepwater blocks.

Eni’s Baleine field offshore project is the first net-zero upstream project in the world for Scope 1 and 2 emissions. After Eni fast-tracked the building project, it went from discovery to first oil in less than 19 months.

Baleine Phase 1 began production in 2023, and Phase 2 started producing in December 2024. Phase 2 is expected to meet local energy needs by connecting with pipeline constructed during Phase 1 and solidifying Côte d’Ivoire’s status as a producer.

Elsewhere on the continent:  In Mozambique, while many companies evacuated due to escalating violence and terror attacks in Cabo Delgado province since 2017, the CEO chose to proceed with Eni’s Coral South and Coral Norte FLNG projects, achieving a final investment decision (FID) for Coral South in 2017 and advancing Coral Norte to pre-FID stage, despite serious security concerns. In Namibia, Descalzi is looking toward more exploration. And, as a legacy producer in Nigeria, Eni, under his leadership, plans to continue working on deepwater and LNG projects, while expanding into the agri-feedstock sector as per the company’s 2023-2026 plan (https://apo-opa.co/3IakaGU).

Social Responsibility Efforts

Eni’s social responsibility initiatives include something very dear to Descalzi’s heart — facilitating clean cooking in sub-Saharan Africa.

Currently, approximately 1 billion Africans lack access to clean cooking. The African Energy Chamber is heartened to see Descalzi’s efforts on this front, including Angola’s Clean Cooking Program, begun in 2024, which already benefits over 500,000 residents in seven of the country’s provinces. He is pushing to get 2 million people in the country access to clean cooking technology very quickly.

On the employment front, Descalzi is ensuring the training and development of Africans — and that they are hired at the highest levels. He is also empowering African women by providing jobs throughout the company. Countless African women can tell stories of him giving them opportunities in the industry.

I would compare Mr. Descalzi to Patrick Pouyanné, the CEO of TotalEnergies, in his engagement with African presidents. He personally goes to each country Eni operates in, unlike most CEOs. He builds personal relationships with presidents and ministers, showing a humility that has made him one of the most favorite CEOs among the IOCs in Africa.

This was illustrated in his September 2025 meetings with Angola’s President Lourenco, where the two talked about Azule’s continuing work on the health, education, and economic diversification fronts. This work includes support for Luanda’s Cardiopulmonary Hospital Complex, business training and financial education programs, and construction and rehabilitation of 14 facilities to help educate over 17,000 children.

His style is not to stop with getting to know the well-knowns, either. He sits with young Africans and jokes with them, motivates and encourages them.

We Applaud Descalzi

It is fitting that we applaud a man who has made a global energy giant a truly African company. Eni’s expertise is evident in all it does in Africa, with its great exploration teams and the projects it completes in a timely, technically savvy way.

In his own quiet way, without international fanfare, Descalzi has worked to the benefit of Africa and Africans.

Descalzi’s care for Africa shows; although he oversees operations across Europe, Asia, the Middle East, and the Americas, he engages the most with Africa, making Africa the largest part of his work.

In short, Africa is part of his family.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Africa’s Lithium Pipeline Gains Momentum as Global Supply Deficits Loom

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Energy Capital

The upcoming African Mining Week 2026 – taking place from October 14-16 in Cape Town – will connect global investors with prospects within the lithium industry amidst an anticipated resource supply deficit by 2028

CAPE TOWN, South Africa, April 9, 2026/APO Group/ –Rising demand for lithium is positioning Africa to attract foreign investment, accelerate local beneficiation and strengthen its role in securing the global battery supply chain. A recent forecast by Wood Mackenzie projects that global lithium demand could exceed 13 million tons by 2050 under an accelerated energy transition scenario. This surge is expected to place significant pressure on supply, with deficits emerging as early as 2028. Without substantial new investments, existing lithium projects will struggle to meet demand beyond the mid-2030s.

 

Against this backdrop, Africa’s growing pipeline of greenfield and development-stage lithium projects positions the continent as an increasingly important contributor to global supply security. In 2025, Africa ranked as the largest source of new lithium supply globally, with new output from the region exceeding that of the rest of the world combined. This milestone underscores the continent’s potential to scale production and strengthen its role in the global battery minerals market.

Emerging Lithium Producers Strengthen Africa’s Supply Pipeline

Even under a slower energy transition scenario, Wood Mackenzie projects that lithium markets will remain adequately supplied until 2037, before entering deficit. This outlook reinforces Africa’s strategic role as new projects across Mali, Zimbabwe, Ghana and Namibia advance toward production.

In the Democratic Republic of the Congo (DRC), Zijin Mining, AVZ Minerals and KoBold Metals are expected to begin operations at the Manono lithium project in mid-to-late 2026, marking the country’s first lithium output. Ranked among the world’s largest hard-rock lithium deposits, Manono is expected to begin exports shortly after commissioning, diversifying DRC’s mineral output while strengthening the continent`s contribution to the global electric vehicles and battery supply chain.

Mali Emerges as a Regional Lithium Hub

Mali is also rapidly positioning itself as a key lithium producer. The Bougouni Lithium Project, commissioned in 2025, currently produces approximately 125,000 tons per annum of concentrate, with Phase Two expansion plans underway that could nearly double production capacity.

Meanwhile, the Goulamina Lithium Project, one of the largest spodumene deposits globally, is producing around 506,000 tons of spodumene concentrate annually, with expansion plans targeting one million tons per year. Together, these projects are expected to significantly strengthen Mali and Africa’s position within the global lithium market.

Ghana and Zimbabwe Expand Lithium Production and Value Addition

In Ghana, the Ewoyaa Lithium Project, developed by Atlantic Lithium, is set to become the country’s first lithium-producing mine, with production targeted for late 2027. The project is expected to produce 3.58 million tons of spodumene concentrate grading 6% and 5.5%, alongside approximately 4.7 million tons of secondary product, further strengthening Africa’s contribution to global lithium supply.

Meanwhile, Zimbabwe – currently Africa’s largest lithium producer – is accelerating efforts to move up the value chain. Government policies restricting the export of raw lithium are encouraging investment in local processing and beneficiation facilities, supporting the production of higher-value lithium products and positioning the country as a key supplier to the global battery materials market.

Investment Momentum Builds Ahead of African Mining Week

With an estimated $276 billion in new investment required to avoid the forecast supply deficits beginning in 2028, Africa’s lithium-rich countries are well positioned to attract the capital needed to expand production and downstream processing.

In this context, African Mining Week 2026 – scheduled for October 14–16 in Cape Town – will serve as a key platform for global investors, project developers and policymakers to engage on opportunities within Africa’s lithium sector. As the continent’s premier mining investment event, the conference will feature high-level discussions, project showcases and strategic networking sessions aimed at accelerating partnerships across the lithium value chain.

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

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Business

Afreximbank delivers strong FY2025 results; with a total assets and contingencies base of US$48.5 billion

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Afreximbank

Total assets and contingencies rose by 21% to US$48.5 billion, up from US$40.1 billion as at 31 December 2024, underscoring the Bank’s consistent growth trajectory

The Group’s balance sheet is at its strongest level ever, with liquidity levels and capitalisation well above target and good asset quality

CAIRO, Egypt, April 9, 2026/APO Group/ –African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) has announced strong results for the year ended 31 December 2025, underscoring sustained financial resilience, increased market confidence and strategic execution.

 

Total assets and contingencies rose by 21% to US$48.5 billion, up from US$40.1 billion as at 31 December 2024, underscoring the Bank’s consistent growth trajectory.

Net loans and advances for the Group closed the year at US$33.5 billion (FY’2024: US$29.0 billion), an increase of 16%, supported by continued disbursements across the continent and the Caribbean through various product offerings. The Group funded strategic priorities areas such as manufacturing, infrastructure, food security and climate adaptation.

The Group’s non-performing loan (NPL) ratio remained stable at 2.43% (FY’2024: 2.33%), demonstrating consistent portfolio quality.

The Group’s liquidity position remained robust, with cash and cash equivalents at US$6.0 billion (FY’2024: US$4.6 billion). Liquid assets accounted for 14% of total assets, above the Bank’s strategic minimum level of 10%. Shareholders’ funds grew by 17% to US$8.4 billion as at 31 December 2025, driven by net income of US$1.2 billion, and new equity inflows of US$299.4 million raised under the General Capital Increase II.

Gross Income increased by 6.06% reaching US$3.5 billion in FY’2025 from US$3.3 billion achieved in FY’2024.

Operating expenses increased to US$459.2 million (FY’2024: US$367.7 million), reflecting strategic staff expansion, and inflationary pressures with the Group maintained strong cost efficiency resulting in a cost-to-income ratio of 21% (FY’2024: 18%) well below the strategic ceiling of 30%.

Contrary to concerns raised by some rating agencies during the year, the Bank accessed international bond markets by successfully raising over US$800 million from Japan and China, courtesy of the Samurai and Panda bonds in 2025. This demonstrated the Group’s fund-raising capabilities and the solid nature of the Bank’s DNA as a pan-African multilateral financial institution committed to ensuring that Africa’s full and sustainable self-reliance remain firm.

Net income increased by 19% to US$1.2 billion in 2025, up from US$973.5 million in the prior year. These results were achieved through the expanded delivery of tailored financial and advisory solutions that supported trade, fostered industrialisation and enhanced economic self-reliance.

Highlights of the results for Afreximbank Group are shown below:

Financial Performance Metrics

FY’2025

FY’2024

Gross Income (US$ billion)

3.5

3.3

Net Income (US$ million)

1,156.8

973.5

Return on average equity (ROAE)

15%

15%

Return on average assets (ROAA)

3.04%

2.96%

Cost-to-income ratio

21%

18%

 

Financial Position Metrics

FY’2025

9M’2024

Total Assets (US$ billion)

42.3

35.3

Total Liabilities (US$ billion)

33.9

28.1

Shareholders’ Funds (US$ billion)

8.4

7.2

Non-performing loans ratio (NPL)

  2.43%

2.33%

Cash/Total assets

14%

13%

Capital Adequacy ratio (Basel II)                                                                         23%

24%

 

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

 

“Despite continuing global geopolitical challenges and disruptions caused by some rating actions, the Group delivered excellent financial performance in 2025, a fitting tribute to a decade of consequential leadership under Professor Oramah, with total assets and contingencies reaching $49 billion. Pleasingly, the Group is way ahead on most of it targets in delivery on its 6th Strategic plan that ends on 31 December 2026. With recently established subsidiaries such as FEDA and AfrexInsure becoming profitable, Net income grew by 19% to stand at US$1.2 billion, underpinned by a strong capital base of US$8.4 billion. The Group’s balance sheet is at its strongest level ever, with liquidity levels and capitalisation well above target and good asset quality. These results are a testament to the unwavering execution by the Group’s hard working human capital. We entered 2026 financial year with significant momentum, ready to scale the Group’s impact, accelerate trade integration and value addition across Global Africa, and deliver greater value to our shareholders.”

Distributed by APO Group on behalf of Afreximbank.

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Events

Chinese Mainland’s Largest Conference on Chest Pain Centres Goes Global in Hong Kong

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Hong Kong

With robust lineup of medical conventions in 2026

HONG KONG SAR – Media OutReach Newswire – 9 April 2026 – Marking yet another milestone as the World’s Meeting Place, Hong Kong became the first city outside Chinese Mainland to host the nation’s largest conference on chest pain centres – the 15th China Chest Pain Centers Congress (CCPCC 2026), thanks to the effort of Hong Kong Convention Ambassador (HKCA) appointed by the Hong Kong Tourism Board (HKTB).
Together with two other high-profile and hugely successful medical congresses – the 41st Asia Pacific Academy of Ophthalmology Congress in February and the 17th Asian Congress of Oral & Maxillofacial Surgery in March, Hong Kong’s medical science events space was off to a strong start in 2026.

Ms Marilyn Tham, General Manager of Mega Events, MICE & Cruise of the HKTB said, “Hong Kong’s leading edge in medical sciences coupled with the city’s world-class venues and destination appeal have enabled notable success for internationally significant medical events. CCPCC 2026 is one of the large-scale medical conventions confirmed for 2026. Such robust lineup reflects event organisers’ confidence in Hong Kong as a premier hub for advancing global exchanges on medical sciences.”

Over 10 medical conventions have secured a spot in Hong Kong this year, spanning diverse disciplines, from cytology to oncology, antimicrobial resistance and more (see full list below). The breadth and depth of the events reflects Hong Kong’s growing appeal as the premier convention hub where global medical minds meet.

Globalising Chest Pain Leadership from Hong Kong

Held on 3-4 April 2026 at the Hong Kong Convention and Exhibition Centre with a concurrent venue in Shenzhen, CCPCC 2026 converged 3,000 healthcare leaders, physicians, nurses, researchers, policymakers and industry experts from Hong Kong, Chinese Mainland, the Belt and Road countries and beyond. The rich topics explored across two days encompassed cutting-edge healthcare innovations, AI-assisted clinical decision-making, intelligent emergency response systems and international accreditation standards.

Co-organised by Hospital Authority (HA) of Hong Kong, the National Clinical Research Center for Interventional Medicine, the Guangdong Chest Pain Centers Association, the Chinese Cardiovascular Association (CCA) and Oriental Huaxia Cardiovascular Health Research Institute (OHCHRI), Suzhou Industrial Park, CCPCC 2026 showcased conducive partnership.

Mr. Wenming Zeng, Secretary-General of OHCHRI, remarked, “The global influence of CCPCC has been growing over the years. Thanks to Hong Kong’s strategic location, leading medical standing and its unique role bridging Chinese Mainland and the world, this year’s congress has drawn even wider global participation, giving the event greater international significance. Hong Kong has helped showcase our event to the world, taking cardiovascular emergency intervention to a new height globally.”

A Launchpad for Mainland-spearheaded International Standards

Capitalising on Hong Kong’s strengths as a super-connector for fostering globalisation, CCPCC 2026 released for the first time the “International Standards on Chest Pain Center Construction and Accreditation”, marking Mainland’s global leadership in cutting-edge cardiovascular emergency intervention. Leveraging Hong Kong’s internationalisation, the efforts to foster global policy support and implementation of the standards will contribute to fair, accessible and timely intervention for cardiovascular emergencies around the world.

Another Significant Win for HKCA Programme on its 5th Anniversary

As a HKTB-appointed HKCA, Prof Lu Shi-Juan, who is a Member of Hainan Medical Association Cardiovascular Professional Committee, played an instrumental role in bringing CCPCC 2026 to Hong Kong. This marked the latest success story of the HKCA programme, as HKTB celebrated the programme’s milestone 5th anniversary with a HKCA Networking Cocktail Event on 31 March, 2026.

Prof Lu noted, “As a Hong Kong International Convention Ambassador, I have worked closely with the HKTB to bring CCPCC to Hong Kong, which is a gateway to the global stage. Hosting the conference here showcases how Hong Kong can elevate Mainland conferences internationally, foster cross‑border knowledge exchange and help shape the future development of the broader medical and professional community.”
The HKCA programme bands together over 170 local and mainland sector leaders of 13 industries and academics to champion Hong Kong as the World’s Meeting Place. Their initiative and connections have helped Hong Kong secure 50 convention wins that have brought in nearly 100,000 high-value overnight MICE visitors.

Strong Medical Events Lineup in 2026

Over 10 medical conventions will be held in 2026 across various disciplines, including ophthalmology, oncology, antimicrobial resistance and cytology.

Event

(*first-ever in Hong Kong)

Date / Venue Highlights
The 41st Asia-Pacific Academy of Ophthalmology Congress 2026 5-8 Feb,

HKCEC

The largest and most authoritative ophthalmology congress in APAC, returning to HK for the fifth time, with record-breakingattendance of 11,000+ participants from 111 countries and regions.
The 17th Asian Congress on Oral and Maxillofacial Surgery 2026 27-29 Mar,

HKCEC

Held in Hong Kong for the second time, bringing together internationally acclaimed speakers, globally renowned experts and young surgeons to foster academic exchange and professional development.
The 15th China Chest Pain Centers Congress 3-4 Apr,

HKCEC

Chinese Mainland’s largest conference on chest pain centres, hosted for the first time outside Chinese Mainland.
*Asian Federation of Cytology Societies Conference 2026 8-10 May,

Postgraduate Education Centre, Prince of Wales Hospital

First edition in Hong Kong, bringing together regional and international cytology experts for academic exchange and collaboration.
International Symposium on Antimicrobial Agents and Resistance 2026 12-14 Jun,

HKCEC

A key international platform for academic exchange on infectious diseases and antimicrobial resistance.
European Society of Medical Oncology Targeted Anticancer Therapies Asia 2026 12-14 Jun,

Kerry Hotel

A key Asia-Pacific platform for showcasing the latest advances in early-phase oncology drug development, targeted therapies and precision oncology.
Federation of Asian and Oceanian Biochemists and Molecular Biologists Conference 2026 10-13 Aug,

Cheung Kung Hai Conference Centre, The University of Hong Kong

A major regional scientific meeting in biochemistry and molecular biology, bringing together researchers, educators and professionals from across Asia and Oceania for academic exchange and collaboration.
* 2026 World Cancer Congress 24-26 Sep,

HKCEC

A leading global forum advancing cancer control and research.
2026 Asia-Pacific Longevity Medicine International Summit 1-4 Oct,

TBC

A leading international platform and regional collaborative hub dedicated to longevity medicine and innovation, attracting top longevity scientists, medical experts, cross-industry entrepreneurs and investors from over 50 countries.
10th Asia Cornea Society Scientific Meeting 2026 11-13 Dec,

TBC

A key regional forum for cornea specialists to exchange the latest clinical insights, diagnostics and treatments, and to strengthen collaboration across the Asia-Pacific ophthalmology community.
Association of Pacific Rim Universities (APRU) Global Health Conference 2026 7-9 Dec,

Henry Cheng International Conference Centre, CUHK

Third time in Hong Kong, convening leading academics, policymakers and practitioners to address critical global health challenges through interdisciplinary collaboration and innovation.

 

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