Connect with us

Business

Unlocking Opportunities and Driving Progress: Zimbabwe-Zambia Energy Projects Summit

Published

on

Zimbabwe

Under the official patronage of Zimbabwe’s Ministry of Energy and Power Development for 2024, the summit will unveil energy project plans from both countries

HARARE, Zimbabwe, November 12, 2024/APO Group/ — 

The Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit will take place from November 18-20, 2024, in Victoria Falls, Zimbabwe, and could not be more timely. With the governments of both countries making innovative structural changes to make energy projects more bankable, appetite for investment is high. This is the opportunity to secure a more sustainable energy future for both Zimbabwe and Zambia.

The Zim-Zam Energy Projects Summit will alternate with Zambia bi-annually under the theme, Powering Zimbabwe and Zambia’s Sustainable Energy Future: Unlocking Opportunities in Renewables, Grid Modernization and Energy Access.

Under the official patronage of Zimbabwe’s Ministry of Energy and Power Development for 2024, the summit will unveil energy project plans from both countries. Private sector investment into solar, geothermal and wind is complementing traditional hydro projects against the backdrop of ongoing drought, and the broader vision is to create a much wider door for the global investment community to walk through.

With the Zimbabwe Energy Regulatory Authority (ZERA) as summit sponsor, Edington Mazambani, ZERA’s Chief Executive Officer said: “As we stand on the brink of a transformative era in energy, the Zimbabwe-Zambia Energy Projects Summit embodies our commitment to a sustainable future. Together, we will explore the vast opportunities in renewables, modernise our grids, and ensure energy access for all. Let us unite in our vision to power Zimbabwe and Zambia’s sustainable energy future, unlocking potential for growth, innovation and collaboration.”

Together, we will explore the vast opportunities in renewables, modernise our grids, and ensure energy access for all

The Zambia Environmental Management Agency (ZEMA)’s recent investment of $1.76 billion into the energy sector underlines the urgent need for energy expansion in the region.

Devastating droughts across Eastern and Southern Africa have set a context for why scenario planning is so vital, with the potential of dams regularly running dry. Bilateral and regional infrastructure will be critical to countering the impact, and to reduce dependence on dominant energy sources, The need for urgent grid infrastructure investment is just one of the topics to be discussed. Working collaboratively with the mining sector to support economic growth and its vision for a cleaner energy future is another.

“Having supported the mining sector in DRC for 14 years, we welcome this opportunity for the important conversations that will unlock opportunities in energy and infrastructure across Zimbabwe and Zambia, and power a sustainable future,” said Manoj Patil, Director of Mining Engineering Services, a Vinmart Group Company, and a sponsor of the summit.

Other topics set to drive change this November include creating an attractive energy investment destination and using innovative and profitable renewable solutions to meet universal access targets, benefitting industries and consumers. By bringing key energy players together, in one place, with one goal, the summit is set to drive projects in both countries more quickly to financial close and establish a clear pathway for risk mitigation.  

It will connect Zimbabwe and Zambia’s Ministries, utilities, regulators and energy organisations, with international private sector stakeholders, institutional investors, private financiers, service and technology providers.  DFIs and multinationals attending include the African Development Bank (AfDB), British International Investment (BII), FMO, Trade and Development Bank (TDB), Climate Fund Managers and Standard Bank.

They join the host of public sector leaders and stakeholders set to speak at the summit, most notably the Ministers from Zimbabwe and Zambia, the EU Ambassador to Zimbabwe, and esteemed speakers from ZERA, Zambezi River Authority (ZRA), ZARENA, ZESA Holdings and RAEZ.

Speaking on behalf of Marsh, also a summit sponsor, Mortimer McKechnie, Senior Vice President, Energy & Power Leader, Africa, added: “This is an opportunity to come together, share experiences and think innovatively. Linking capital and mitigating risk can boost development for both countries, and Marsh is very excited to be part of this summit.”

Distributed by APO Group on behalf of EnergyNet Ltd..

Business

Republic of Congo Eyes Accelerated Oil, Gas, Sustainable Projects

Published

on

The country’s Hydrocarbon Minister Bruno Jean-Richard Itoua shared insight into the government’s ongoing efforts to attract new investments in the upstream, downstream and forestry sectors

BRAZZAVILLE, Congo (Republic of the), November 13, 2024/APO Group/ — 

The Republic of Congo (RoC) is preparing to launch a Gas Master Plan and new Gas Code, all while enticing investment in crude exploration and production. Speaking during a press conference at African Energy Week 2024, Bruno Jean-Richard Itoua, the country’s Minister of Hydrocarbons, outlined how these policies will drive oil and gas projects forward, all while spearheading sustainable growth.

Towards Increased Oil Production

Leveraging policy and reform to attract new investments in exploration and production, the RoC expects to launch a new licensing round by Q1, 2025. According to Minister Itoua, “the round will put the RoC on the market.” He noted that significant work has already been done by various companies in the region, setting the stage for a successful bid round.

“We have an attractive legal framework…” Itoua added, underscoring the country’s intent to enhance investor confidence. Currently, the RoC produces an average of 274,000 barrels per day (bpd). The Minister revealed ambitious plans to increase this output to 500,000 bpd within the next three to five years, driven by tangible projects and enhanced industry collaboration. “Our target is clear: we want to significantly ramp up production based on concrete, actionable projects,” he said.

New and existing oil and gas producers in the RoC have committed to supporting this goal and are ramping up investments to boost output. On November 7, energy players Unite Oil & Gas and ARIES Energy formed Bomoko Energy to acquire and develop local hydrocarbon assets. In October 2024, Perenco achieved 80,000 bpd following a $300 million investment, aiming for 100,000 bpd by 2025 with new field developments. Meanwhile, Cogo, the Congolese subsidiary of China Oil Natural Gas Overseas, announced in October 2024 a $150 million investment to enhance production in the Conkouati-Koui and Nanga III fields.

Focus on Downstream Development

In the downstream sector, the RoC aims to boost domestic access. As new developments come online, Minister Itoua emphasized that “first, we give priority to our citizens, then to our companies. Too many people still lack access to reliable energy.” He acknowledged the complications posed by outdated refining infrastructure and emphasized the government’s strategy to upgrade existing facilities.

Seventy percent of the equipment is already produced and we expect the refinery to be operational by next year

Currently, the RoC has one oil refinery in the coastal city of Pointe-Noire, which has a capacity of 1 million tons per year. However, it only processes 600,000 tons annually while the country’s needs are estimated at 1.2 million tons.

To address supply shortfall, the RoC is in the process of commissioning a new refinery. The $600 Atlantic Petrochemical Refinery, to be developed by China’s Beijing Fortune Dingheng Investment, will produce a range of refined petroleum products including automotive and aviation gasoline, LPG, diesel, lubricants, bitumen and kerosene.

“Seventy percent of the equipment is already produced and we expect the refinery to be operational by next year,” Minister Itoua shared. This private project will grant investors the flexibility to decide on the type of crude processed, including the option to import crude oil. “The new refinery will help meet domestic needs first, and only then will we consider export opportunities,” Itoua remarked.

Promoting Environmental Sustainability

Minister Itoua also highlighted the country’s commitment to environmental sustainability, particularly through carbon capture initiatives. The RoC’s focus on sustainable industrial growth is rooted in its history with the timber industry, and the country aims to balance this legacy with modern environmental practices. “We started our development journey through forestry, and now we are working to preserve these forests for future generations,” the Minister said.

Covering 23 million hectares – two-thirds of the country’s territory – the country’s forest acts as a vital carbon sink, absorbing about 130 million tons of carbon annually. Minister Itoua explained that, “We have the largest potential for carbon capture in the Congo Forest. It’s our responsibility to protect this resource while continuing to develop our industries.”

In 2024, the RoC received its first $8 million payment in carbon offsets as part of a World Bank agreement, highlighting projects like TotalEnergies’ Bacasi initiative, which aims to conserve and reforest 93,000 hectares.

With a clear roadmap for increasing production, upgrading infrastructure and committing to environmental protection, the RoC will host the first edition of the Congo Energy & Investment Forum from March 25-26, 2025 in Brazzaville. Organized by Energy Capital and Power – in partnership with the Ministry of Hydrocarbons and with the support of the African Energy Chamber – the event will gather international investors and Congolese stakeholders, setting the tone for the country’s future in the global energy market.

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

Continue Reading

Business

Islamic Corporation for the Development of the Private Sector (ICD) commits EUR 40 million to Kokshetau Hospital Project in Kazakhstan

Published

on

The new hospital will seek to receive a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) green-building certification programme

ASTANA, Kazakhstan, November 13, 2024/APO Group/ —

  • ICD is investing EUR 40 million for the construction and operation of a 630-bed multidisciplinary hospital in the city of Kokshetau, Kazakhstan.
  • The total financing package is Euro 365 mln which is co-financed by the EBRD, AIIB, DEG, Proparco and DBK.
  • The Project will be developed by a Rönesans Holding subsidiary.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) has signed a EUR 40 million a Public Private Partnership (PPP) agreement to co-finance Kokshetau Hospital Project in Kazakhstan. This Project will be ICD’s first financing under PPP scheme in Kazakstan. The project will be also first PPP in the healthcare sector of Kazakhstan and Central Asia with a greenfield development of a 110,000 m2 facility, which will provide services to more than 730,000 people living in the city of Kokshetau and the wider region of Akmola. Under the PPP agreement, the private partner will maintain the facility and operate a 24-hour hospital information management system (HIMS), setting a digital benchmark for Kazakhstan’s healthcare sector. Medical services will be provided by Turar Healthcare, a state-owned, non-profit operator.

The project will be co-financed for the total amount of up to €365 million provided by the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB) (www.AIIB.org), the German Investment Corporation (DEG) (https://apo-opa.co/3O6hLfG), the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org/), Proparco (www.Proparco.fr/en), a subsidiary of Agence Française de Développement and the Development Bank of Kazakhstan (DBK) (www.KDB.kz/en).

The new hospital will seek to receive a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) green-building certification programme, which recognizes best-in-class building strategies and practices. It will also aim to obtain an EDGE (https://apo-opa.co/3O73Tlh) certification for water and energy savings.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Continue Reading

Business

Invest Africa and Premier Invest Announce Strategic Partnership to Catalyse Investment in Africa

Published

on

This partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress

LONDON, United Kingdom, November 13, 2024/APO Group/ — 

Invest Africa (www.InvestAfrica.com), the leading pan-African business platform, is proud to announce a strategic partnership with Premier Invest, a global investment conglomerate, aimed at driving transformative investment into Africa. This collaboration is set to identify and unlock new avenues for growth, innovation, and sustainable development across the continent through a series of targeted engagements, including The Africa Debate in London and the UAE, as well as Invest Africa’s Mining Series, held alongside the annual Mining Indaba conference.

This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets

As Africa stands on the brink of a new era of economic transformation, this partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress and prosperity.

Chantelé Carrington, CEO of Invest Africa, commented on the partnership: ”Africa is entering a pivotal phase of economic transformation, and ensuring that the right investment and expertise are directed to the continent is crucial. Our partnership with Premier Invest is a great step towards this objective. By tapping into our expansive network, strategic communications, and robust events programme, we look forward to working alongside Premier Invest to channel the much-needed investment flows that will drive Africa’s growth.”

Rene Awambeng, Managing Partner of Premier Invest, added: “This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets. Invest Africa’s unrivalled network and market insights will be invaluable as we work together not only to identify and capture high-growth opportunities but also to contribute meaningfully to the economic development of the regions we serve, particularly across Africa.”

This partnership exemplifies the shared commitment of Invest Africa and Premier Invest to harness the full potential of capital in Africa and beyond. By uniting our strengths, we are laying the groundwork for transformative investments that will fuel economic growth and development for years to come.

Distributed by APO Group on behalf of Invest Africa.

Continue Reading

Trending

Exit mobile version