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United States, Zambia, Africa Finance Corporation (AFC) Host Partnership for Global Infrastructure and Investment (PGI) Forum to Strengthen Investment in Lobito Corridor

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PGI

The corridor will integrate the African continent and enhance connections with global markets

LUSAKA, Zambia, February 8, 2024/APO Group/ — 

His Excellency Hakainde Hichilema, President of the Republic of Zambia, Amos Hochstein, Senior Advisor to President Biden, and Samaila Zubairu, President and CEO of the Africa Finance Corporation (AFC) (www.AfricaFC.org) convened the Partnership for Global Infrastructure and Investment (PGI) Lobito Corridor Private Sector Investor Forum in Lusaka today. This is the first PGI Investor Forum outside the United States, bringing together over 250 business and government leaders from Angola, the Democratic Republic of Congo (DRC), the European Union, the United States, and Zambia, as well as international investors and industry leaders to accelerate private sector investment in the Lobito Corridor, which will connect the DRC and Zambia with global markets through Angola. 

The Lobito Corridor is the first strategic PGI economic corridor launched by President Biden at the G7 Summit in Japan in May 2023 under the flagship G7 Partnership for Global Infrastructure and Investment initiative. The corridor will integrate the African continent and enhance connections with global markets by expanding export possibilities, boosting regional trade, and growing key market segments, all while creating decent jobs and improving lives.

PGI’s efforts to upgrade and build new railway will result in the first trans-African rail line, stretching from the Atlantic Ocean to the Indian Ocean. A U.S. Development Finance Corporation (DFC) $250 million investment, currently in due diligence, would support the Lobito Atlantic Railway (LAR) consortium that is upgrading and operating a 1,200 km Benguela rail line across Angola with advisory support from the Africa Finance Corporation (AFC).  The LAR upgrade will dramatically reduce transport time, better connect critical mineral-rich regions in the DRC with the global markets and lower the carbon emissions footprint of goods currently moved by road. By lowering costs for businesses along the corridor, it will also open new markets, including agribusiness. 

The Investor Forum follows the signing of a Memorandum of Understanding (MOU) in October 2023 in which the African Development Bank, the AFC, the governments of Angola, DRC, Zambia and the United States, and the European Commission underscored their shared commitment to developing the Lobito Corridor.  The MOU named AFC as lead developer on the new Zambia-Lobito rail line extending from the Benguela line into northwest Zambia.  In addition to rail, PGI is investing catalytic public funds alongside G7 and African partners in various sectors, demonstrating a new model of holistic private-sector led infrastructure development while maintaining strong labor and environmental standards, and promoting trade and investment on the African continent.

The PGI Forum marks the partners coming together to further mobilize private sector investment across the Lobito Corridor and unlock the enormous potential of this region. During the forum in Lusaka, the U.S. Government and partners announced additional commitments to the corridor:

  • DFC announced that its Board of Directors just approved a new $250 million debt facility to the AFC that would support their efforts to develop high-quality and high-standards infrastructure across the continent. That potential project is now pending congressional review. DFC also marked its commitment to provide a $10 million loan to Seba Foods Zambia, the first U.S. food and agriculture investment along the Lobito Corridor.
  • Additionally, the United States Trade and Development Agency (USTDA) announced a feasibility study grant to REV-UP Solar Ventures Zambia to develop an estimated 200-megawatt solar power plant and battery energy storage system in Solwezi, Zambia.   The project will supply clean, stable electricity to Zambian industry and households and has the potential to provide power for two critical mineral mines in the DRC.
  • This week LAR announced a six-year export shipment term-sheet with Canadian mining company Ivanhoe that will advance the rail line’s ambitions to become the leading rail transport link in sub-Saharan Africa and support clean energy supply chain diversification.
  • Supporting efforts to unlock the potential of the Copperbelt region, AFC has entered into an MOU with Congolese commodity trading and mining company La Générale des Carrières et des Mines (Gécamines) to undertake the development of critical minerals in the DRC. AFC has also signed an expression of interest with Kobaloni Energy to provide $100 million in financing for a cobalt refinery in Chingola, Zambia, with the objective of building the first electric vehicle battery grade cobalt sulphate plant on the African continent.

These announcements build on the more than $1 billion of U.S. government investments made in Angola in the past year. This includes an Export-Import Bank of the United States (EXIM) authorization of a more than $900 million loan supporting construction of two solar energy power plants that will generate over 500 megawatts of renewable energy, and an additional $363 million EXIM loan guarantee to support financing and construction of over 180 bridges connecting rural Angolan communities. Further, two USAID grants are enabling Africell’s recent mobile money launch to reach more underserved populations, and to expand an existing program supporting women farmers to communities around the Lobito Atlantic rail line.

Today’s milestone underlines the importance of the Lobito Corridor initiative. The corridor is a vital logistics hub that connects the region to international markets while demonstrating that strategic public infrastructure investment can mobilize private investment across multiple sectors to promote economic growth that transforms the region.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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TotalEnergies’ Commitment to Local Content: A Key Driver of Economic Growth in Africa

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With dedicated dialogue, impact assessment and socioeconomic development at the heart of its local content strategy, TotalEnergies aims to drive long-term and sustainable growth in Africa

JOHANNESBURG, South Africa, July 4, 2024/APO Group/ — 

With activities in 43 African countries, French major TotalEnergies is a central player in the continent’s oil and gas industry. TotalEnergies’ approach to local content development ensures that its operations in Africa not only harness untapped energy resources, but also contribute to local employment, capacity building and partnership formations. By placing dialogue, impact assessment and socioeconomic development at the forefront of its activities, TotalEnergies remains committed to delivering long-term benefits to the communities in which it operates.

Angola: Driving Local Expertise in Offshore Projects

TotalEnergies – alongside project partners Petronas and national oil company Sonangol – reached FID on the Kaminho deepwater project in Angola in May 2024. The project, situated in Block 20/11 and comprising the Cameia and Golfinho fields, represents the first major deepwater development in the Kwanza Basin and incorporates an FPSO with the capacity to produce 70,000 barrels per day (bpd). Notwithstanding the opportunity to support oil production in Angola by monetizing offshore resources, the project’s strong local content focus has already begun to deliver economic benefits for the country.

The project involves 10 million hours of work to be conducted by local companies, primarily covering offshore operations and the construction of local sites. Additionally, the project prioritizes long-term capacity building and skills development. TotalEnergies and Sonangol signed an MOU in May 2024 to pool their expertise in research and technology, specifically collaborating on the development and operation of a research and development center in the city of Sumbe. The partners will also work towards developing the skills of Sonangol’s research and technology teams, with a focus on the fields of reservoir geology, process electrification and photovoltaics. As such, TotalEnergies aims to drive knowledge transfer and training, supporting Sonangol’s transformation into a competitive national operator.

Nigeria: Generating Local Opportunities in Oilfield Production

Active in Nigeria since 1956, TotalEnergies’ offshore operations have not only increased oil production in the country, but also created new jobs, business opportunities and training initiatives for local communities. TotalEnergies currently employs 1,800 people in the country, with various features of offshore projects constructed in Nigeria and delivered by local subcontractors.

The company reached FID on the development of the Ubeta gas field in June 2024, alongside partner the Nigerian National Petroleum Corporation (NNPC). Situated in OML 58, the field will be developed with a six-well cluster connected to existing production facilities. TotalEnergies is working closely with the NNPC to enhance local content at OML 58, with more than 90% of the man hours for the new development worked locally.

Other projects featuring local employment opportunities include the Ikike field in OML 99. The project started production in 2022, with 95% of the man hours worked locally. The platform and topside modules for the project were entirely built and assembled by local subcontractors, showcasing the scope of business opportunities available for local companies with field development in Nigeria.

Uganda/Tanzania: Delivering Sustainable Infrastructure Solutions

TotalEnergies is leading the development of the East African Crude Oil Pipeline (EACOP) – a 1,443km pipeline linking Uganda’s Tilenga and Kingfisher fields to Tanzania’s Port of Tanga – with local content forming the base of the project. Since 2022, EACOP has accumulated more than 180,000 hours of training with 21,000 people across the two countries. By the end of 2023, the project’s employment was measured at 1,200 people in Uganda and 3,200 people in Tanzania, with local employees working 92% of the project’s hours. TotalEnergies has prioritized the utilization of local goods and services for the project, with $45 million worth of products purchased from local suppliers in Uganda and $172 million purchased from local suppliers in Tanzania. 

In March 2024, TotalEnergies launched a $2.3-million Industry Enhancement Center in Uganda, aimed at improving the capacity of local SMEs across the oil and gas sector. The center provides a range of services, including industry information, customized business advisory, training and capacity building, and market access. Through these initiatives, TotalEnergies aims to create lasting economic benefits in both Uganda and Tanzania, while supporting the development of local market capabilities.

Republic of the Congo: Maximizing Job Opportunities

TotalEnergies’ local content efforts extend to the Republic of Congo (ROC), where the company increased its interests in the Moho license in April 2024. The deep-offshore project produces on average 140,000 bpd and is the largest oil project in the country, accounting for 60% of national output. Through the project’s focus on socioeconomic development and impact, TotalEnergies has stimulated job opportunities, capacity building and local player participation.

Moho Nord features 600 Congolese companies that work on the project, with 1,200 direct and indirect jobs created and 600,000 hours of training provided by TotalEnergies. This has translated into a positive impact on local employment and business, while creating the opportunity for stakeholders and companies to up-skill in line with international industry standards. Impact assessment was another defining feature of the project –  by prioritizing energy efficiency, adopting a zero-flaring approach and utilizing cutting-edge technologies, the project aligns with TotalEnergies’ climate and socioeconomic objectives. 

Distributed by APO Group on behalf of African Energy Chamber.

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Azentio expands its leadership team with 2 new appointments

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Women in leadership takes centre stage as Azentio welcomes Aarthi Ramesh and Emma Foley

SINGAPORE, Singapore, July 4, 2024/APO Group/ — 

Azentio Software (“Azentio“) (https://apo-opa.co/3XVs4JH)- a leading end-to-end software company specializing in the BFSI sector, today announced the appointment of Aarthi Ramesh as Chief Customer Officer and Emma Foley as Chief Marketing Officer.

Ramesh joins Azentio with over two decades of experience in the IT industry, both within the services and SaaS space. Most recently she served as Vice President at Freshworks, managing a large portfolio of strategic accounts across Asia Pacific, Middle East and Africa. During this time, she contributed significantly to the company’s growth, including as Head of GTM Operations, where she played a pivotal role in scaling the operations function and aligning it with the company’s IPO objectives. Prior to Freshworks, Aarthi had a long successful stint with Cognizant as global COO for a large business unit.

At Azentio, Ramesh will primarily be focused on delivering excellence in customer success. In her role, Aarthi will ensure customer satisfaction and retention by overseeing all customer-facing activities. This includes managing customer success teams, support services, and customer experience strategies to ensure seamless onboarding, adoption and ongoing engagement with Azentio products suite.

Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio

Commenting on the announcement, Aarthi said, “I am delighted to join Azentio and lead our efforts towards achieving complete customer centricity. With my extensive background in both product and services and my dedication to driving customer success, I am confident I can significantly benefit both our business and our customers.”

Foley brings with her over 20 years of B2B marketing experience primarily focused on the tech space in the MEA, APAC and European markets. Most recently serving as the Head of Marketing for Europe, Middle East & Africa at Temenos, Foley is immersed in building high performing teams to drive transformative marketing models. Her expertise in leveraging data analytics to enhance marketing efficiency and effectiveness is expected to play a pivotal role in shaping Azentio’s marketing strategies into the future.

Her primary focus will be in ensuring Azentio’s value propositions are clear, compelling, and simple for customers as well as supporting the business in its strategic growth plans throughout the Middle East, Africa and South East Asia, with a significant focus on digital marketing technology as well as data-driven marketing initiatives.

Speaking about her appointment Foley commented, “I am thrilled to join Azentio, a company I have known and regarded highly for its cutting-edge solutions and customer-first approach. I look forward to leveraging my experience to contribute towards the company’s growth, driving marketing strategies that resonate with our customers and set new standards in the industry.”

Sanjay Singh, CEO at Azentio added, “Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio. As our company continues to grow, I am confident that both of these leaders will help us to achieve Azentio’s vision and growth ambitions while championing innovation and a customer first mindset.”

Distributed by APO Group on behalf of Azentio Software Private Limited.

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Siemens and PANA Infrastructure Join Forces in Groundbreaking Initiative to Modernize Nigeria’s Power Sector

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Siemens

By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors

ABUJA, Nigeria, July 3, 2024/APO Group/ — 

Siemens (www.Siemens.com​) and PANA Infrastructure announce a strategic collaboration to tackle Nigeria’s Electrical Infrastructure sector; The initiative aims to enhance power stability and create job opportunities in Nigeria; Combining expertise, they aim to enhance Nigeria’s power sector.

Siemens, a leading global technology company, and PANA Infrastructure, a Nigerian conglomerate with an increasing footprint across Sub-Saharan Africa, have formally announced a strategic partnership aimed at modernizing and upgrading Nigeria’s electric power infrastructure through the provision of grid automation, and smart infrastructure solutions across Nigeria. This collaboration, solidified through a formal agreement signifies a pivotal step towards addressing Nigeria’s pressing electricity challenges while fostering economic growth and technological advancement in the region.

“This collaboration underscores our commitment to fostering sustainable development and advancing technology in Nigeria,” stated Sabine Dall’Omo, CEO of Siemens Sub-Saharan Africa. “By combining Siemens’ expertise in smart grid technologies with PANA Infrastructure’s deep market insights, we aim to ensure a reliable power supply and drive economic progress in the region.”

We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies

According to Mr. Daere Akobo, Chairman of PANA Holdings, “this strategic collaboration with Siemens is a pivotal opportunity to transform Nigeria’s power sector. We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies. This collaboration is in alignment with the transformation agenda in the power sector by the Nigerian government to significantly improve power supply in the country, in a manner that translates to economic progress for all Nigerians.”

The agreement signed between Siemens and PANA Infrastructure, focuses on enhancing grid reliability and stability, deepening electrification rates to meet the rapidly growing demand for electricity in Nigeria.

Simultaneously, recognizing Nigeria’s potential for substantial investments in industrial modernization, the partnership will concentrate on unlocking Nigeria’s potential in the industrial power sector. This initiative aims to revolutionize Nigeria’s industrial landscape by harnessing the power of advanced technologies and solutions to enhance productivity, efficiency, and quality. Through local capacity development, enhancing employees’ skills and capabilities, Siemens and PANA Infrastructure will pave the way for a new era of industrial excellence in Nigeria.

“Siemens reaffirms its commitment to Nigeria, with a focus on identifying and developing strategic business opportunities within the region. By leveraging a go-to-market strategy that includes knowledge platforms, collaborative business strategies, integrated sales and marketing teams, and global support, Siemens strives to bring significant business value to the Nigerian market,” says Sabine Dall’Omo.

Meanwhile, PANA Infrastructure has positioned itself as a key player in understanding and envisioning the needs of industry stakeholders and local communities. By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors.

This strategic collaboration between Siemens and PANA Infrastructure represents the convergence of proven expertise and application know-how, ensuring the highest quality of solution implementation for Nigeria’s industrial power sector. By addressing key challenges in Nigeria’s power and industrial sectors, including electricity losses, rural electrification, capacity building, local production, technology transfer, and quality standards, this partnership aims to drive sustainable growth and development in Nigeria.

Distributed by APO Group on behalf of Siemens AG.

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