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Uganda National Oil Company (UNOC) Joins African Energy Week (AEW) 2024 as Uganda Gears up for East African Crude Oil Pipeline (EACOP) Start

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UNOC

The East African Crude Oil Pipeline represents the single largest investment in Uganda and Tanzania

CAPE TOWN, South Africa, October 10, 2024/APO Group/ — 

The Uganda National Oil Company (UNOC) – the country’s state-owned oil corporation – has joined the African Energy Week (AEW): Invest in African Energy conference as a Gold Sponsor. Taking place November 4-8 in Cape Town, the event serves as the largest event of its kind on the continent, uniting global financiers and technology providers with African projects. UNOC’s sponsorship reflects the company’s commitment to attracting investment as major projects prepare for construction.   

In collaboration with project partners TotalEnergies, CNOOC and the Tanzania Petroleum Development Corporation, UNOC is spearheading the development of the East African Crude Oil Pipeline (EACOP). A 1,443km infrastructure project linking Uganda’s Tilenga and Kingfisher oilfields to Tanzania’s Port of Tanga, the project represents the single-largest investment in both Uganda and Tanzania. UNOC’s participation at AEW: Invest in African Energy 2024 paves the way for greater dialogue and engagement with regards to Ugandan oil and gas projects. 

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.  

One of the biggest challenges African oil and gas projects face today is the lack of financing

EACOP aims to start exporting crude by the end of 2025. Currently, the development of civil works such as pumping stations, pipe yards and storage facilities are progressing rapidly, with Uganda receiving the first shipment of coated line pipes for the project this October. The project – estimated to cost $5 billion – features a 296-km section in Uganda and a 1,147-km section in Tanzania. With a capacity to transport 246,000 barrels per day (BPD), the project directly connects Uganda’s oilfields with international markets, providing a new source of revenue for the country. In addition to transporting Uganda crude, the project serves as a vital route for regional neighbors such as the Democratic Republic of the Congo (DRC). Uganda is currently engaged in discussions with the DRC to transport crude from oilfields in the Albertine Graben basin following the start of production.  

EACOP has already raised $2 billion in equity funding from its developers and is seeking an additional $3 billion in debt financing. Chinese financiers have shared their interest in supporting the project, with Uganda’s Ministry of Energy and Mineral Development travelling to Beijing in April 2024 to discuss investment options. In June 2024, UNOC invested an additional $35 million to help bridge the gap between equity and debt financing in a testament to getting the project off the ground. The topic of financing African oil and gas projects will be top of the agenda at AEW: Invest in African Energy 2024, with UNOC’s participation  

Beyond the Tilenga and Kingfisher fields, Uganda is promoting exploration in various other regions of the country. Preliminary petroleum exploration studies are currently being conducted in the Moroto-Kadam and Kyoga basins, targeting play-opening discoveries. The studies aim to diversify the country’s oil production by bringing new fields online. To support exploration, the country increased its annual budget for the oil and gas sector from $120 million to $246 million for the 2024/2025 period. However, significant opportunities remain, with Uganda representing one of the final frontiers for oil and gas exploration worldwide.  

“One of the biggest challenges African oil and gas projects face today is the lack of financing. In the current energy transition climate, global capital expenditure has become increasingly more competitive, with pressures mounting to reduce funding for fossil fuel projects. Despite this, projects such as EACOP are proving resilient, and it is all due to the efforts by the state-owned UNOC,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.  

UNOC’s support for and participation at AEW: Invest in African Energy 2024 reflects its dedication to driving Ugandan oil and gas projects forward. Throughout the event, UNOC is expected to engage with African policymakers, global investors and projects developers, promoting upcoming investments and strategic opportunities.  

Distributed by APO Group on behalf of African Energy Chamber.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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