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TotalEnergies: Driving Economic Development Beyond Oil & Gas

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TotalEnergies

The French multinational is advancing economic development across Africa through its tax contributions, strategic infrastructure investments, energy access initiatives and focus on local empowerment

JOHANNESBURG, South Africa, July 5, 2024/APO Group/ — 

Multinational energy company TotalEnergies acts as a key contributor to economic growth and tax revenues in the markets in which it operates, extending beyond its core oil and gas exploration and production activities. In 2023 alone, the company’s production taxes and current income taxes across all activities amounted to just over $24.7 billion, with an average tax rate of 38.2%. Additionally, its extractive entities paid $28.3 billion in taxes and production fees to the governments of the states and territories where it operates.

In Africa, TotalEnergies has activities in over 40 countries, where it contributes to both economic and social development across its portfolio. In Uganda, TotalEnergies is spearheading the Tilenga and Kingfisher oil field development in the Lake Albert Basin – developed in partnership with China National Offshore Oil Corporation and the state-owned Uganda National Oil Company – which involves substantial investments in local infrastructure and community development.

Last year, TotalEnergies EP Uganda selected 200 Ugandan youths for the Tilenga Massive Open Online Course and Tilenga Academy training program. The objective was to equip local youth with the knowledge and skills needed to work on the TotalEnergies-operated Tilenga project during its production phase, aiming to develop local capacity and encourage youth participation in the sector. Training was conducted at the Uganda Petroleum Institute in Kigumba and other international oil and gas training centers, providing hands-on experience during the installation and completion of the Tilenga project, which comprises nine oil fields, a processing facility, underground pipelines and infrastructure. Moreover, TotalEnergies is leading rural electrification efforts in the East African country, having built the 10 MW Soroti solar power plant that was one of the largest grid-connected, privately-funded solar plants in Africa at its commissioning.

TotalEnergies serves as the largest operator in Angola, with interests in Blocks 17, 32, 0, 14 and 14K. Last May, the company announced FID for the Cameia-Golfinho field development, and anticipates the Quiluma and Maboqueiro gas fields to come online in 2026, which will feed into the country’s Angola LNG plant. The company holds a 41% market share and accounts for just short of 45% of Angola’s production, as well as holds key stakes in Angola LNG and the New Gas Consortium. Its substantial investments in Angola reflect the company’s historic contributions to the national economy through associated infrastructure development and export revenues, in addition to taxes, royalties and other levies.

They are not only investing in the continent’s future but also ensuring that African communities reap the benefits of their natural resources

In neighboring Namibia, TotalEnergies’ light oil discoveries with the Mangetti-1X and Venus-1X wells in the Orange Basin present a major economic boost for the country. Once fully appraised, these discoveries hold the potential to stimulate creation, local procurement and an influx of foreign investments from other international players, thereby enhancing Namibia’s economic growth and development.

In Nigeria, the company’s activities extend beyond oil and gas exploration and production to renewable energy, electricity, green gas and retail activities. The company has over 1,800 employees in the country and 530 service stations. TotalEnergies also carries an interest in the Nigeria LNG plant and is pursuing several carbon-neutral initiatives, including the Zero Routine Flaring by 2030 program. It also operates two lubricant blending plants and several petroleum product depots. Moreover, the company markets its products and services through its service stations and sells decentralized solar solutions to low-income populations. These activities have generated substantial income that flows through the country’s economy, as well as targets underserved communities.

Across the continent, TotalEnergies conducts its operations under various contractual frameworks, typically either concession contracts or production sharing contracts (PSCs). Under concession contracts, the company owns the assets and facilities, receives all production, bears all risks and costs and pays royalties and taxes to the state. Under PSCs, the company finances and executes exploration and production at its own risk, receiving a share of the production to cover costs and profits, with the remainder shared with the state or national company. These agreements demonstrate TotalEnergies’ commitment to long-term business partnerships that profit the company and the host countries equally by sharing revenues and managing resources responsibly.

Beyond its operational footprint, TotalEnergies has made clear its plans to enhance energy accessibility and sustainability. By 2030, the company aims to provide clean cooking access to up to 100 million people in Africa and India. This initiative includes a $400-million investment in the development of LPG and the production of pay-as-you-cook digital technologies to make clean cooking affordable. Access to cleaner energy like LPG can improve health, reduce gender inequalities and decrease CO2 emissions and deforestation. Already a major player in the distribution of LPG in bottles, TotalEnergies stands to benefit over 50 million people in Africa and Asia through this initiative.

Moreover, TotalEnergies actively contributes to socioeconomic development through its wide range of citizenship initiatives. Focused mainly on youth, these programs are funded by the TotalEnergies Foundation and support the company’s broader community engagement efforts. Employees are encouraged to dedicate up to three days of work time annually to community engagement projects, promoting these values globally through the TotalEnergies Foundation program. These initiatives not only uplift and empower local communities, but also position them as vital components of TotalEnergies’ operations.

“TotalEnergies’ contributions beyond oil and gas are transformative for Africa. By driving local capacity building, economic diversification and sustainable development, they are not only investing in the continent’s future but also ensuring that African communities reap the benefits of their natural resources. This strategic approach is essential for fostering long-term growth and prosperity across the region,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

U.S.-Africa Energy & Minerals Forum Expands to Critical Minerals and Supply Chain Security

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Africa

This year’s U.S.-Africa Energy & Minerals Forum in Houston signals a strategic shift toward integrated energy and critical minerals investment, strengthening U.S. partnerships across Africa’s resource and industrial value chains

HOUSTON, United States of America, February 26, 2026/APO Group/ –The U.S.-Africa Energy & Minerals Forum (USAEMF) has relaunched with a dedicated focus on critical minerals, marking an important evolution in its role as a platform for U.S.-Africa commercial engagement. Building on its foundation in energy, power and industrial projects, the forum’s expanded scope positions it at the center of investment conversations shaping the future energy economy.

 

Scheduled for July 21–22, 2026, in Houston, Texas, USAEMF comes at a time of surging global demand for copper, cobalt, lithium, manganese and rare earth elements, driven by electrification, battery storage, AI infrastructure and advanced manufacturing. Africa is increasingly critical to securing these materials, highlighting how energy and minerals are now interconnected pillars of industrial growth, geopolitical stability and decarbonization.

The forum’s minerals mandate deepens engagement with African producers – particularly the Democratic Republic of Congo (DRC), home to some of the world’s largest copper and cobalt reserves. Momentum is building through the U.S.–DRC strategic minerals framework and the U.S.-backed Orion Critical Mineral Consortium, a major investment platform supported by the DFC and private partners. The consortium is pursuing a 40% stake in the Mutanda and Kamoto copper-cobalt operations in a $9 billion transaction, securing long-term supply for allied markets while reinforcing cooperation on infrastructure, security and supply-chain governance.

Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties

U.S. financing is also expanding across the region, with the DFC managing a continental portfolio exceeding $13 billion to support mining, processing and transport infrastructure for critical mineral supply chains. Recent commitments include rare earth, graphite and potash projects in Malawi, Mozambique and Gabon; broader investments in Uganda, Tanzania, Zambia and South Africa; and $553 million linked to the development of the Lobito Corridor. The DFC is also a major backer of TechMet, a U.S.-supported investment firm valued at over $1 billion, which is raising up to $200 million to expand copper, cobalt, lithium and rare earth assets and pursue new opportunities across the DRC and Zambia. Together, these initiatives underscore Washington’s push to diversify battery-mineral supply while positioning Africa as a long-term partner in clean energy and industrial value chains.

Houston’s role as host city reflects the alignment between American industrial capacity and African resource development. Long established as a global energy hub, the city is expanding into energy transition technologies, advanced materials, carbon management and industrial innovation. By convening African governments with U.S. private equity, development finance institutions, exporters, insurers and technical service providers, the forum creates a commercial platform capable of converting mineral potential into bankable projects.

“The evolution from USAEF to USAEMF reflects a broader shift toward integrated energy and mineral development,” states Nadine Levin, Portfolio Director at Energy Capital & Power, forum organizers. “Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties and advances projects that deliver long-term shared value.”

While critical minerals define the forum’s strategic expansion, the U.S.’ longstanding role in Africa’s energy sector remains central to the platform’s value proposition. American energy companies continue to advance exploration and development across key upstream markets, support gas monetization in the Gulf of Guinea and revitalize mature production in North Africa. U.S. export credit and development finance are also helping unlock large-scale LNG capacity in Mozambique while supporting optimization and expansion across existing gas infrastructure in West Africa – demonstrating how American capital, engineering expertise and risk-mitigation tools convert resource potential into delivered energy systems.

USAEMF is the leading platform connecting U.S. capital and technical expertise with Africa’s energy and minerals sectors. For more information or to participate at the upcoming forum, please contact sales@energycapitalpower.com

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

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Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments in Local Currencies in Kenya

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Pesalink

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders

NAIROBI, Kenya, February 26, 2026/APO Group/ —

  • Instant 24/7 bank-to-bank transfers across African borders in local currencies.
  • Simpler cross-border payments for individuals, businesses, and SMEs.
  • 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks.

 

Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration.

 

The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies.

 

Kenyan banks will now be able to offer faster, cheaper cross-border payments

PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform.

 

Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days.

 

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders.

 

Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.”

 

Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

Distributed by APO Group on behalf of Afreximbank.

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Africa Trade Conference Returns to Cape Town with Esteemed Speakers Driving Africa’s Trade Agenda

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Africa

Second edition convenes global policymakers, business leaders, and innovators to accelerate Africa’s integration into global trade

CAPE TOWN, South Africa, February 26, 2026/APO Group/ –Access Bank Plc (www.AccessBankPLC.com) is proud to announce the distinguished line-up of speakers for the second edition of the Africa Trade Conference (ATC 2026), scheduled to take place on March 11, 2026, at the Cape Town International Convention Centre, Cape Town, South Africa. Building on the strong foundation of its inaugural edition, ATC 2026 will convene an exceptional assembly of global and African leaders, policymakers, investors, and business executives committed to shaping the future of trade on the continent.

The Africa Trade Conference has rapidly emerged as a premier platform for advancing dialogue and action around Africa’s evolving role in global commerce. The 2026 edition will feature influential voices from across finance, government, development institutions, and the private sector, who will share insights on unlocking trade opportunities, strengthening intra-African commerce, enabling business expansion, and positioning African enterprises for global competitiveness.

The confirmed speakers represent a powerful cross-section of leaders driving Africa’s economic transformation.

Building on the momentum of its maiden edition, which convened senior decision-makers from 28 countries, the 2026 conference with the theme “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact”, will have the keynote address delivered by Kennedy Mbekeani, Director General, Southern Africa Region, African Development Bank (AfDB), alongside Kwabena Ayirebi, Managing Director, Banking Operations at the African Export-Import Bank. Their joint keynote will address the evolving financing landscape for African trade and the strategic pathways for unlocking continental prosperity.

The welcome address will be delivered by Roosevelt Ogbonna, CEO/GMD, Access Bank Plc, who will set the tone for discussions centered on trade transformation, financial inclusion, and regional competitiveness, while Tolu Oyekan, Managing Director & Partner at Boston Consulting Group, will deliver insights on “Africa Trade Outlook 2026”, examining emerging macroeconomic trends, supply chain shifts, and growth opportunities across key sectors.  The CEO of Pan-African Payment and Settlement System, Mike Ogbalu, will be engaging the conference participants on the topic, “Building a Connected Africa Through Trade, Payments & Technology”, focusing on how payment interoperability and digital infrastructure can accelerate the African Continental Free Trade Area (AfCFTA) agenda.

The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us

The conference will also host a High-Level Ministerial Panel that features Elizabeth Ofosu-Adjare, the Minister for Trade, Agribusiness & Industry, Ghana; Tiroeaone Ntsima, Minister of Trade and Entrepreneurship, Botswana; Mr. Florian Witt, Divisional Head, International & Corporate Banking Oddo-BHF, Ms. Nathalie Louat – Global Director, International Finance Corporation (IFC), Dr Isaiah Rathumba – Head of Department, Limpopo Economic Development, Environment and Tourism and Mr. Alfred Idialu – Chief Rep Officer, Deutsche Bank among other policymakers shaping trade policy across the continent.

Commenting on the announcement, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said:
“The Africa Trade Conference reflects our unwavering commitment to advancing Africa’s economic transformation by creating a platform that brings together the leaders, institutions, and ideas shaping the future of trade. The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us. Africa is not only participating in global trade, it is helping to redefine it. Through this convening, we aim to catalyse partnerships, unlock new opportunities for businesses, and accelerate Africa’s integration into global value chains.”

“At Access Bank, we see ourselves not just as financiers, but as connectors of markets, ideas, and opportunities. Our role is to help African businesses move from ambition to impact, from local relevance to global competitiveness.”

With operations in 24 countries globally, including 16 across Africa, Access Bank’s expansive footprint places it in a unique position to facilitate cross-border trade, unlock regional value chains, and simplify the complexities of doing business across markets.

“Our presence across Africa and key global corridors gives us a front-row seat to the realities of trade. It also gives us the responsibility to design solutions that are inclusive, scalable, and future facing. ATC 2026 is part of that commitment, Ogbonna added.

ATC 2026 is expected to catalyze partnerships, enable policy dialogue, and provide actionable strategies for businesses operating within and beyond the continent.

The Access Bank Chief puts it thus, “Africa will not be a spectator in the remaking of global trade. We will be one of its architects. ATC 2026 is where those blueprints will be drawn.”

For more information and registration, please visit https://apo-opa.co/4sdXWF7

Distributed by APO Group on behalf of Access Bank PLC.

 

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