Connect with us
Anglostratits

Business

Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

Published

on

African Energy Reception

Speaking during the Invest in African Energy Reception in London, Afreximbank’s Global Head of Client Relations, Rene Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda

LONDON, United Kingdom, January 27, 2023/APO Group/ — 

The Invest in African Energy Reception (https://AECWeek.com/news/) kicked off in London with opening remarks by African Energy Chamber Executive Chairman, NJ Ayuk, and Rystad Energy Co-Founder and Chief Analyst, Per Magnus Nysveen, followed by an opening address delivered by Rene Awambeng, Global Head of Client Relations at the African Export-Import Bank – a partner of the event. During his address, Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda.

Firstly, Awambeng emphasized that Africa only accounts for less than 3% of global emissions, and therefore should be recognized as not the cause of excessive carbon, but rather, the victims of climate change. At the same time, considering the many oil-dependent economies in Africa, with GDP measuring as high as 25% for some, the continent should be able to establish a sensible plan for a just and fair transition.

“We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing. The transition to green energy must be sensible, pragmatic and rational. It must recognize the enormity of the continent’s unmet economic development aspirations, the necessity to take urgent actions to address its ever-widening development gap and the continent’s vulnerability to climate change,” Awambeng stated. 

We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing

As such, Awambeng detailed a strategy towards a just and inclusive transition. Key aspects include supporting the implementation of the African Continental Free Trade Agreement (AfCFTA) to reduce emissions associated with shipping, moving away from exporting raw minerals that support the green economy and scaling up domestic value chains; enhancing foreign capital to finance the just transition and establishing African-based financing mechanisms to support industry growth.

“We must give ourselves a breather to use the natural resources at our disposal to urgently deliver our development needs and simultaneously deploy these to promote investments in green energy. We must proactively and collectively intensify our efforts to implement the AfCFTA, as it is a clear path to mitigating carbon emissions while sustaining lives and livelihoods. We must all support the creation of the Africa Energy Transition Bank so that the continent can take control of its own future. We must back the African Energy Chamber (https://EnergyChamber.org/) so that it can intensify its thought leadership on this subject and ensure that Africa’s voice is heard as loudly as possible on issues that matter to us regarding energy.”

Meanwhile, Awambeng emphasized the need to take urgent action to address the development gap in Africa and the continent’s vulnerability to climate change. In addition to energy investment, focus needs to be placed on climate investment, with the continent requiring up to $277 billion per annum to combat climate change. With Africa currently receiving less than $28 billion of the required funds, Awambeng urged the developed world to honor its commitments to climate financing and incentivized African stakeholders to create their own mechanisms and instruments to honor such commitments. 

“Afreximbank is supporting the promotion of a number of such innovative instruments and programs that can catalyze global finance and help close the funding gap for the necessary climate action while not sacrificing the development priorities of the continent. The Liquidity and Sustainability Facility represents one such innovative instrument…Initially launched by UNECA at COP26 in Glasgow, we expect to conclude the first deal in the course of this conference, to be fully funded by the Afreximbank.”

In closing, Awambeng reiterated the need for a just transition in Africa, one that prioritizes carbon emission reduction and economic growth, simultaneously. 

“While decarbonization is at the center of the global climate agenda, it is evident that Africa, which has hardly carbonized, cannot contribute much to decarbonization. Africa’s priority is to find the money to fight poverty and fund mitigation and adaptation investments.”

Distributed by APO Group on behalf of African Energy Chamber.

Business

Joint statement welcoming the Republic of Togo’s announcement on Visa facilitation for African nationals

Published

on

Togo

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda

LOMÉ, Togo, May 21, 2026/APO Group/ –The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcome the announcement by the Government of the Republic of Togo, under the leadership of H.E. Faure Essozimna Gnassingbé, President of the Council of the Republic of Togo, regarding measures to facilitate visa-free entry for all nationals of African States holding valid passports, as announced by the Minister of Security on 18 May 2026.

The announcement was made in Lomé on the sidelines of Biashara Afrika 2026, the continent’s premier trade and business platform, which has brought together policymakers, private sector leaders, investors, and stakeholders from across Africa to advance dialogue on intra-African trade, investment, and regional integration.

Throughout the engagements, participants underscored the importance of facilitating the movement of African citizens, entrepreneurs, and investors as an important enabler of intra-African trade and economic cooperation. Against this backdrop, the announcement reflects the growing continental momentum towards strengthening connectivity and deepening African integration.

The AfCFTA Secretariat and Afreximbank, to which Togo is a State Party and a Member State, envision a continent where goods, services, capital, and people move more freely across borders in support of an integrated African market. Measures that facilitate mobility and connectivity continue to contribute towards advancing the broader mandate of both institutions; the attainment of the aspirations of Agenda 2063.

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda.

Distributed by APO Group on behalf of Afreximbank.

Continue Reading

Business

Morocco: African Development Bank commits €200 Million to boost employability and develop future skills

Published

on

Morocco

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms

RABAT, Morocco, May 21, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved €200 million in financing for the implementation of the “Cap Compétences 2030” programme, aimed at improving employment opportunities for young people and women.

 

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms.

 

Cap Compétences 2030 is built around three pillars: skills development and strategic partnerships; inclusive training aligned with business needs; and digital transformation, supported by stronger institutional and operational capacity. The programme will also consolidate existing mechanisms while improving both their efficiency and reach.

 

Through the initiative, the African Development Bank seeks to expand access to diversified training opportunities and enhance the professional integration of beneficiaries into the labour market.

Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women

 

Achraf Tarsim, Country Manager of the African Development Bank Group in Morocco, said Cap Compétences 2030 aligns with the priorities of the country’s National Employment Roadmap 2025–2030 and the Bank’s strategic vision under its Four Cardinal Points (https://apo-opa.co/3PDHMHn). “Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women,” he said.

 

The Bank’s intervention is being implemented in close coordination with technical and financial partners to strengthen coherence and complementarity in support of public policy reforms.

 

This programme reflects the Bank’s long-term engagement in Morocco in the areas of human development, employment, and social inclusion. It also builds on a broader portfolio of results-based operations that contribute to structural reforms of the labour market and vocational training system.

 

Since its establishment, the African Development Bank Group has mobilised more than €15 billion across strategic sectors in Morocco, including education, health, employment, infrastructure, energy, and governance.

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

Continue Reading

Energy

TotalEnergies Expands Angola Offshore Strategy as Martin Deffontaines Returns to Angola Oil & Gas (AOG) 2026

Published

on

TotalEnergies

TotalEnergies is spearheading a diverse investment approach in Angola, targeting frontier opportunities while scaling brownfield production

Martin Deffontaines, Country Manager for Angola at energy major TotalEnergies has been confirmed as a speaker at the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9­­–10 with a pre-conference day on September 8. His participation comes at a pivotal time for the company as it expands its offshore strategy and is expected to provide insight into how one of the industry’s leading operators is positioning itself for Angola’s next phase of offshore growth.

TotalEnergies is driving a multi-faceted exploration and production strategy in Angola, balancing brownfield optimization with frontier exploration and large-scale deepwater developments. As one of the country’s biggest oil producers, the company’s recent investments signal a long-term commitment to the market as well as its broader ambitions to support Angola’s goals of sustaining production above one million barrels per day (bpd).

At the core of this strategy is unlocking additional value from producing assets. Just this month, the company signed a Principles Agreement with the National Oil, Gas & Biofuels Agency (ANPG) to extend its license for Block 32 to 2043. The agreement establishes the general terms for the continuous development of the block, while outlining the possible application of the Incremental Production Decree to bolster production. Block 32 is one of the country’s biggest producing assets, covering six fields and featuring the Kaombo project.

Beyond operational assets, TotalEnergies is pursuing new frontiers in Angola. The company signed an agreement in March 2026 with the ANPG and ExxonMobil for the allocation of four blocks in the Benguela and Namibe Basins – namely 40, 41, 42 and 58. The agreement lays the foundation for the signing of the respective contracts for the blocks. This follows another agreement signed in 2025 between TotalEnergies, ExxonMobil and the ANPG for the study and evaluation of the Free Areas of Blocks 17/06 and 32/21 – two of the country’s longest-producing assets. The agreement aims to identify new leads across the blocks, supporting future production growth.

The company’s ongoing project portfolio further highlights the scale of its ambitions in Angola. Central to this is the Kaminho deepwater project – the first major deepwater development in the Kwanza Basin. Representing a $6 billion investment, the project is expected to produce approximately 70,000 bpd through an FPSO designed with lower-emission technologies. FID was reached in 2024, with production on track for 2028. Kaminho builds on TotalEnergies recent project momentum, which saw two offshore projects start operations in 2025. The Begonia and CLOV Phase 3 developments added 60,000 bpd to the company’s Angolan portfolio, cementing its position as a major operator.

Deffontaines’ participation at AOG 2026 comes as these themes move to the forefront of Angola’s oil and gas agenda. As one of the country’s largest international investors, TotalEnergies continues to shape discussions around production sustainability, exploration strategy and offshore project economics. His presence at the event underscores both the scale of the opportunity and the growing international confidence in Angola’s deepwater market.

 

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

Continue Reading

Trending