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The Way of an African Legend: A Tribute to Benoît de la Fouchardière of Perenco (By NJ Ayuk)

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Benoît de la Fouchardière

As the managing director of Perenco, he has driven the company’s successful expansion into new territory and has kept it on course to become one of the biggest investors and taxpayers in Central Africa

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JOHANNESBURG, South Africa, April 3, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org).

On Feb. 6, 2024, the Anglo-French oil and gas company Perenco announced that it had appointed a new CEO to replace the incumbent Benoît de la Fouchardière, who has served in this capacity for the last eight years. In a press release, London-headquartered Perenco noted that de la Fouchardière would be replaced by Armel Simondin, the general manager of the company’s Cameroonian division, effective March 15.

At first glance, this press release reads like an unremarkable notice of corporate personnel turnover. It hails the achievements of de la Fouchardière, who is now slated to take the helm at Dixstone, an affiliate of Perenco. It also includes an upbeat statement from chairman François Perrodo about the company’s prospects under Simondin, a long-time employee of Perenco as well as an industry veteran.

In other words, it reads like a short statement about an ordinary example of change in leadership.

In my perspective, however, it’s an overly modest tribute to an extraordinary person. It doesn’t say enough about the contributions de la Fouchardière has made to Perenco’s operational and socioeconomic successes in Central Africa, which is home to about half of the company’s assets.

And those contributions are substantial.

Operational Successes

On the upstream front, de la Fouchardière has led the company in expanding its portfolio through Central Africa while also lifting production. Between 2017 and 2020, for example, he guided Perenco through the acquisition of most of TotalEnergies’ Gabonese assets. Then in mid-2022, he steered Perenco’s acquisition of Glencore’s upstream portfolio in Chad, thereby adding the large and untapped Badila and Mangara fields to its list of assets.

Later in 2022, de la Fouchardière also oversaw the company’s announcement of a large new oil discovery at the Pointe Noire Grand Fond Sud licence located off the coast of the Republic of Congo. And in 2023, he led Perenco through the signing of a contract for Rio del Rey (RDR), a concession in Cameroon that accounts for about 70% of the country’s total crude production.

De la Fouchardière has also championed Perenco’s efforts to develop its natural gas value chain by moving beyond production. During his term, the company began the process of transforming Gabon into a gas hub. It has, for example, agreed to work with Gabon’s Ministry of Oil and Gas to develop plans for the construction of a thermal power plant (TPP) that will use locally produced gas as feedstock for electricity production. This project is expected to help alleviate energy poverty within Gabon, thereby ensuring that the country gains direct benefits from its own natural resources.

The company has also made a final investment decision (FID) on a plan to build a facility capable of turning out 0.7 million tonnes per year (tpy) of liquefied natural gas (LNG). This facility, located in Cap Lopez, will also be able to manufacture liquid petroleum gas (LPG). As such, it will be able to process gas to produce LNG for export as well as LPG for domestic and regional use.

From the beginning, Perenco has been engaged with the Republic of Cameroon to have a positive impact at local, regional, and national levels

This is important, as LNG exports can generate revenue for Perenco — and also for the government of Gabon, which is entitled to a share of profit production. But the benefits don’t end there. The LNG project also helps supply Gabon and other Central African states with LPG, a clean-burning fuel for cooking, heating, and lighting that can replace traditional biomass-based fuels such as wood and charcoal and dirtier-burning petroleum products such as kerosene.

Environmental and Social Initiatives

That brings me to another point — namely, what Perenco has accomplished on the environmental and social fronts.

De la Fouchardière outlined some of his company’s achievements in an interview with The Africa Report in February. He noted that Perenco had worked to develop new technologies and procedures to minimize environmental risk and asserted that it had gone further in this direction than other international oil companies (IOCs).

“With our subsidiary Petrodec, we are the only ones to have launched a complete dismantling of oil wells that have ceased production and [taken] ad hoc environmental measures. Today Petrodec is working on two rigs in the UK, in the North Sea, but tomorrow its services could be called upon anywhere – for example, in Africa – to ensure the definitive closure of extractive sites,” he explained.

He also pointed out that the company was working with local government bodies to mitigate pollution and environmental damage wherever it occurred. “Despite everything, accidents can still happen and this is true for Perenco as it is for most oil groups,” he told The Africa Report. “In this case, we are doing everything we can to contain and treat the pollution, as we have just done in Gabon, in close collaboration with the relevant authorities.”

Additionally, de la Fouchardière stressed the company’s commitment to cooperation and good relationships with host communities. Perenco has launched multiple social and economic development initiatives to support the residents of the places where it operates and will continue to do so, he said.

“As for relations with local communities, we have a very specific corporate social responsibility (CSR) policy,” he stated. “Unlike other companies, we have not delegated it to external service providers but have internalised it because it is a question of responding to the real needs of the populations we meet on the ground. In Muanda [Democratic Republic of Congo], for example, our teams live among the population, including expatriate engineers. In consultation with local stakeholders, we have launched projects to improve access to electricity, education, and agroforestry as well as search for solutions to better preserve fish to be sold in Kinshasa.”

Virtuous Circles

These statements hardly come as a surprise to me and my colleagues at the African Energy Chamber (AEC). After all, de la Fouchardière spoke to us in April 2023 about similar steps Perenco has taken in Central Africa and beyond.

“From the beginning, Perenco has been engaged with the Republic of Cameroon to have a positive impact at local, regional, and national levels. At the national level, through revenues generated by our activity, employment, and training of young Cameroonians from all regions and all disciplines. Locally, we are working with IECD [Institut Européen de Coopération et de Développement], a non-governmental organization partner, to develop micro-entrepreneurial initiatives, teaching people to learn how to manage funds and reinvest effectively,” he said.

He continued: “[From] a global standpoint, we are engaged in a global initiative to remove plastic waste from the countries where we operate: Plastic Free. We are developing a pyrolysis machine at a small scale and another at an industrial scale (to be installed in Cap Lopez in Gabon). It will clean the plastic from the country and use it to produce diesel in a virtuous circle, also reducing the need for diesel imports.”

What’s more, this isn’t the only virtuous circle Perenco has set in motion. Under de la Fouchardière’s leadership, the company has maintained a policy of hiring a majority-African workforce for all of its operations — and it has increased the number of women working in the oil and gas industry. It has worked to maximize local content across its African portfolio, and it has sponsored football competitions in Cameroon and organized annual marathons in Gabon.

These are just some of the reasons why I believe de la Fouchardière deserves a round of applause. As the managing director of Perenco, he has driven the company’s successful expansion into new territory and has kept it on course to become one of the biggest investors and taxpayers in Central Africa. At the same time, he’s worked to uphold Africans and African interests. We at the African Energy Chamber are fortunate to have worked with him, and we wish him well in his future endeavors.

Distributed by APO Group on behalf of African Energy Chamber.

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Verdant Capital Hybrid Fund completes an additional investment of USD 4.5 million in LOLC Africa

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LOLC

The investment will support LOLC’s global expansion strategy in Africa, by financing MSMEs, thereby fostering financial inclusion, employment creation, income generation, and economic growth

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed an additional investment of USD 4.5 million in LOLC Africa Singapore Limited (“LOLC Africa”). This investment brings the total investment in LOLC Africa to USD 13.5 million. This follows the initial investment of USD 9 million in LOLC Africa, completed in June 2023. Both investments are structured as holding company loans, and they are being directed towards LOLC Africa’s operating lending subsidiaries in Zambia, Rwanda, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo.

Founded in 1980 in Sri Lanka, LOLC entered the African continent in 2018. Verdant Capital Hybrid Fund is the first external investor in LOLC Africa’s operations, reflecting the Fund’s catalytic investment approach. These investments are driving the expansion of LOLC Africa’s micro, small and medium enterprises (MSMEs) financing footprint across the continent. Additionally, the Fund’s Technical Assistance Facility (TAF), has offered financial support for LOLC Africa’s Social Ratings and Client Protection Pre-Certifications for its subsidiaries in Zambia and Egypt, with further Technical Assistance initiatives in the pipeline.

LOLC is recognised as one of the top-performing global microfinance groups, and the Fund’s investment aligns with its strategy of picking the top performers in each theme or category. LOLC’s business model focuses on the “bottom of the pyramid”, increasing access to MSME financing and customer deposits, thereby advancing it financial inclusion objectives.

The Fund’s investment will provide LOLC Africa with more funding to support and expand the lending activities of its existing subsidiaries in Africa, primarily targeting MSMEs. Furthermore, the investment will strengthen the capital bases of the existing and potentially new subsidiaries in Africa. LOLC’s expansion of the MSME lending model is not only about pursuing its commercial ambition but is also a commitment to sustainable and socially responsible growth. By extending tangible benefits to those communities at the bottom-of-the-pyramid, LOLC Africa promotes financial inclusion, job creation, income generation, and overall economic growth.

This investment represents a diversified exposure to multiple African markets as LOLC continues to scale its operations. The Fund’s investment is also yielding a return aligned with the Fund’s return target, reinforcing the value of supporting high-impact financial inclusion initiatives in emerging markets.

Suits & Advisors (“S&A”) acted as an advisor to LOLC on this transaction.

Distributed by APO Group on behalf of Verdant Capital

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Ghana’s Downstream Regulator Joins Accra Investor Briefing to Advance Value Chain

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The Accra Investor

The Accra Investor Briefing will share insights into Ghana’s petroleum industry ahead of the African Energy Week: Invest in African Energies conference this September

ACCRA, Ghana, April 7, 2025/APO Group/ –With a goal to increase the share of liquefied petroleum gas (LPG) to 50% of the market by 2030, Ghana’s downstream regulator the National Petroleum Authority (NPA) is promoting private-led investment across the petroleum value chain. Strengthened policies and technology-driven strategies are already bolstering downstream productivity, but the NPA is seeking greater investment to strengthen fuel security and distribution across West Africa.

During the Invest in African Energies: Accra Investor Briefing on April 14, 2025, taking place at the Kempinski Hotel, the NPA’s CEO Godwin Kudzo Tameklo will outline strategies being implemented by the authority to strengthen the downstream value chain in Ghana. Tameklo is expected to highlight ongoing efforts to attract investment in downstream projects, while sharing an update on the country’s developments such as the Integrated Petroleum Hub, LPG expansion and broader infrastructure advancements.

As the downstream regulator, the NPA manages the importation and refining of crude in Ghana as well as the sale, marketing and distribution of refined petroleum products across the country. The NPA works to position the downstream sector as both a major contributor to domestic product growth and catalyst for long-term economic growth in Ghana. By leveraging technology and growth-centered policy, the NPA has led the growth of Ghana’s downstream industry.

With increased investment, Ghana stands to play a major part in enhancing fuel security across the broader West African region

In April 2024, the country witnessed a 15.4% growth in petroleum consumption, reaching 1,641 kilotons compared to 2023, as well as a 9% rise in gasoline consumption, reaching 588.5 kilotons. In 2024, LPG consumption also witnessed a surge, rising 7.25% throughout the year to reach 340 million liters. An increase in the adoption of LPG was largely attributed to the promotion of the Cylinder Recirculation Model by the NPA – a distribution system implemented in 2023 that allows residents and commercial consumers to utilize LPG through cylinder exchange. LPG adoption rose from 28.9% in 2010 to 60% in 2023, with LPG usage increasing from 18.2% in 2010 to 44.1% in 2023. Strategic LPG projects include the Puma Energy-owned LPG bottling plant in Tema – a $6 million facility with the capacity to deliver 1,200 cylinders per hour. A second plant is being developed by the Ghana Cylinder Manufacturing Company, with a capacity of 150 million cubic feet per day.

To further strengthen distribution, the NPA is leveraging innovative technology and policies that enhance efficiency and profitability across the downstream sector. These include the introduction of a new transparent automatic price adjustment formular, transitioning from an annual regulated pricing model; a zero-tolerance policy for toxic fuel and an increase in low sulphur fuels; as well as technology-based mechanisms such as the petroleum marking scheme, bilk road vehicle tracking project, electronic cargo tracking system and enterprise relational database management software. These mechanisms support efficient monitoring and ensure optimized quality and quantity of petroleum products in Ghana.

Beyond domestic petroleum distribution, Ghana is strengthening regional exports. In 2024, the NPA signed an agreement with Senegal and The Gambia to enhance petroleum product exports. Ghana already exports petroleum to regional neighboring, including Mali, Niger, Burkina Faso, Ivory Coast and Togo. According to the NPA, the volume of petroleum exports to regional countries from Ghana amounted to 385,154,100 liters. Over 5,000 service providers are registered in Ghana, delivering over four million metric tons of petroleum products annually.

“Ghana is a strong example of the role natural gas and associated LPG production plays in Africa. Through targeted policies, technology-driven mechanisms and a commitment to low-cost, reliable fuels, the NPA is leading the charge towards a more sustainable future in West Africa. With increased investment, Ghana stands to play a major part in enhancing fuel security across the broader West African region,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber

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APO Group Revolutionises Press Release Distribution by Integrating Telegram, Boosting Mobile Accessibility Across Africa

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APO Group

APO Group is committed to ensuring that Africa’s stories are shared even more widely and in a manner that is convenient to the continent’s growing mobile population of journalists and news consumer

JOHANNESBURG, South Africa, April 7, 2025/APO Group/ –APO Group (www.APO-opa.com), the award-winning pan-African communications consultancy and press release distribution service, is pleased to announce the integration of Telegram, the popular mobile instant messaging service, into its press release distribution channels. This exciting new development, which sees the company’s press releases available on the mobile app, further cements APO Group’s position as Africa’s premier digital PR and communications firm, with unmatched reach and engagement in the online space.

With an annual dissemination rate of over 10,000 press releases to more than 250 news websites and 450,000 journalists and bloggers across the continent and globally, APO Group is committed to ensuring that Africa’s stories are shared even more widely and in a manner that is convenient to the continent’s growing mobile population of journalists and news consumers.

Telegram gives these users direct access to the press releases published on APO Group’s www.Africa-Newsroom.com platform, enabling them to instantly share relevant real-time updates and exclusive content with their target audiences. Like the web platform, Telegram subscribers can choose their preferred language channel – English, Arabic, French, or Portuguese – providing bespoke, tailored access to APO Group’s press releases in mobile format.

With close to 53 million downloads (https://apo-opa.co/3FWfLWh) in Europe, the Middle East, and Africa in 2024, Telegram has rapidly gained traction amongst the region’s users, fundamentally transforming how news is consumed. Incorporating Telegram into its already comprehensive press release distribution channels supports APO Group’s vision of delivering state-of-the-art communications solutions for Africa and the world.

“At APO Group, we’re not only committed to sharing positive and compelling narratives about the African continent; we also want to make it as easy as possible for journalists to republish our content, enhancing exposure for our clients through a channel that is widely accessible and easy to use, with an unlimited audience size. Tailored functionality ensures that information is relevant, topical, and presented in a user-friendly manner,” explained APO Group CEO Bas Wijne.

Innovation and digitalisation are key focus areas for us at APO Group when it comes to enhancing our press release distribution services

“Innovation and digitalisation are key focus areas for us at APO Group when it comes to enhancing our press release distribution services. Telegram presents us with a unique opportunity to further enrich our advanced distribution service, offering journalists a wider range of options to access and share Africa’s stories. This aligns with how the market is evolving, how users are evolving, and how the mobile market is growing.”

In addition to its comprehensive online Africa Newsroom press release distribution platform and the newly launched Telegram mobile news-sharing channel, APO Group is working to provide additional innovative mobile solutions to its clients and the African media in the near future, broadening distribution options even further.

Subscribe to APO Group’s Africa Newsroom Telegram channels using the following links:

English: https://t.me/Africa_Newsroom

French: https://t.me/Africa_Newsroom_FR

Arabic: https://t.me/Africa_Newsroom_AR

Portuguese: https://t.me/Africa_Newsroom_PT

Distributed by APO Group on behalf of APO Group

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