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Upstream Momentum Builds in Ghana as Eni Declares Eban-Akoma Commercial and Tullow, Kosmos Extend Licenses

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African Energy Chamber

The African Energy Chamber recognizes Eni’s recent progress on the Eban-Akoma discovery and last month’s long-term license extensions by Tullow Oil and Kosmos Energy as key milestones in Ghana’s drive to boost investor confidence and secure sustainable energy growth

CAPE TOWN, South Africa, July 19, 2025/APO Group/ –Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4. Estimated to hold between 500 and 700 million barrels of oil equivalent, the find marks the country’s largest offshore discovery in years and lies adjacent to Eni’s existing Sankofa production hub, allowing for rapid and cost-efficient development.

 

The African Energy Chamber (AEC), as the voice of Africa’s energy sector, welcomes and strongly supports this development as a significant step forward in Ghana’s upstream revival. Together with other recent industry milestones – including 15-year license extensions granted to Tullow Oil and Kosmos Energy – it signals growing confidence in Ghana’s potential and stands as a testament to the bold measures taken by President John Mahama’s administration to restore momentum and investor trust in the sector.

Ghana Secures Long-Term Energy Commitments  

Last month, Tullow Oil and Kosmos Energy – alongside partners PetroSA, Ghana National Petroleum Company (GNPC) and Explorco – signed a Memorandum of Understanding to secure the extension of petroleum licenses in the Jubilee and TEN fields through 2040. While the Eban-Akoma discovery points to Ghana’s geological upside, the agreement with Tullow and Kosmos underscores the country’s institutional capacity to drive and sustain long-term energy growth.

Ghana is proving that a clear regulatory environment, strong national institutions and consistent political will can unlock real energy growth

At the center of both developments is a renewed focus on production-led investment. Eni is preparing a development plan to bring its new find online, while Tullow and Kosmos have committed up to $2 billion to drill 20 new wells in Jubilee. These aren’t speculative ventures – they’re anchored in existing infrastructure, supported by regulatory clarity and structured to deliver returns for both investors and the Ghanaian state. The resulting uplift in oil and gas production will expand the country’s revenue base through GNPC equity, royalties and taxes – laying the groundwork for greater investment in national development priorities such as healthcare, education and infrastructure. Crucially, Ghana’s ability to secure long-term upstream commitments also sends a strong signal to global markets that the country is stable, serious and investment-ready.

Expanded Output to Power Industry and Jobs  

Energy security is also central to both projects. Eni already supplies a large portion of Ghana’s domestic gas needs, and Eban-Akoma will enhance that capacity. ​​Under the extended production license agreement, Tullow and Kosmos have committed to delivering 130 million standard cubic feet of gas per day from the Jubilee and TEN fields, supported by a restructured pricing and payment model that enhances access for power producers and industrial users. These volumes are vital for stabilizing the power sector, strengthening energy-intensive industries and supporting job creation. With sustained drilling and field optimization, Ghana’s proven and probable reserves will continue to grow, further strengthening its resource base and outlook.

Ghana’s institutional capacity also stands to benefit. Partnerships between Eni, Tullow and Kosmos and national bodies like GNPC and the Petroleum Commission include frameworks for knowledge transfer, technical support and regulatory alignment – all of which strengthen the country’s ability to manage its energy resources. Eni’s ongoing expansion, along with Tullow and Kosmos’ drilling programs, is expected to directly and indirectly support thousands of jobs across engineering, logistics, fabrication and services, while creating new opportunities for Ghanaian companies to play a greater role in the oil and gas value chain.

“Ghana is proving that a clear regulatory environment, strong national institutions and consistent political will can unlock real energy growth,” said NJ Ayuk, Executive Chairman of the AEC. “The Eban-Akoma discovery and the government’s smart approach to extending production at Jubilee and TEN are exactly the kinds of moves that send a message to global investors: Ghana is open for business and serious about long-term energy security.”

As Ghana works to revitalize its upstream sector and accelerate economic growth, these commitments represent crucial milestones that strengthen the country’s reputation as a dependable oil and gas producer while driving energy security, building institutional capacity, creating jobs and fueling sustainable development.

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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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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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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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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