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Vantage Capital invests €30m in Promamec

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Vantage Capital

The funds invested by Vantage Capital facilitated the exit of the private equity fund AfricInvest and will also serve to part-fund Promamec’s next phase of development

CASABLANCA, Morocco, July 27, 2023/APO Group/ — 

Vantage Capital (http://www.VantageCapital.co.za), Africa’s largest mezzanine fund manager, announced today that it closed a €30 million equity investment for the acquisition of a significant minority stake in Promamec, a Moroccan medical distribution business. The funds invested by Vantage Capital facilitated the exit of the private equity fund AfricInvest and will also serve to part-fund Promamec’s next phase of development.

Promamec was founded in the early 1980s by the Lahlou family. The company is one of the leading medical consumables and equipment distributors in Morocco and is also among the few players engaged in local production of medical consumables – an activity that the company aims to sizably develop over the next few years.

This investment will enable Promamec to finance its development plan that involves building a new production plant, broadening its portfolio by launching new product categories, and strengthening its positioning in sub-Saharan Africa.

This deal marks our second investment in Morocco’s buoyant healthcare sector, which is undergoing massive development thanks to both public and private investments

Mr. Naoufal Lahlou, CEO of Promamec, commented “We are delighted to welcome into our shareholding Vantage Capital, a leading pan-African investment firm. With Vantage Capital’s support, we aim to execute our ambitious growth plan, which consists of diversifying our current product range, increasing our production capacity and, above all, expanding our geographical presence in sub-Saharan Africa. Since our very first discussions, Vantage Capital has demonstrated its total alignment with our vision.”

Mr. Luc Albinski, Executive Chairman at Vantage Capital, added, “We are proud to have concluded our third Moroccan deal. This deal also marks our second investment in Morocco’s buoyant healthcare sector, which is undergoing massive development thanks to both public and private investments. We are very enthusiastic about accompanying Promamec in achieving its ambitions and contributing to the improvement of healthcare in the Kingdom.”

Mr. Driss Benabdeslam, Associate Partner at Vantage Capital, concluded, “We are very happy about this investment in one the Kingdom’s main medical suppliers. It is great to know that our funds and strategic support will be dedicated to a company operating in such a key sector. We are also pleased to partner with a highly seasoned and committed team, with whom we look forward to taking Promamec to the next level. We would like to thank the Lahlou family for their trust and willingness to welcome us as new shareholders.”

This transaction represents Vantage Capital’s 35th investment across four generations of mezzanine debt funds with its portfolio of investments spread across eleven African countries. Promamec also marks Vantage Capital’s third investment in Morocco, thus reinforcing its presence in one of its key target markets.

Vantage Capital was advised by Derenia Capital who acted as buy-side advisor for the transaction, and by Clifford Chance (in Morocco) who acted as its legal counsel. PwC (in Morocco) and Webber Wentzel (in South Africa) provided tax advice, PwC & Deloitte (in Morocco) were the financial advisors, Strategy& (part of the PwC network in Morocco) provided commercial advice, and Ibis Consulting (in Morocco) reviewed the environmental impact.

Promamec and AfricInvest were advised by Allen & Overy (in Morocco) and Cabinet Atlassi who acted as their legal counsel and by Smyle Finance who acted as sell-side advisor. A&B Associés acted as legal counsel to the Lahlou family.

Distributed by APO Group on behalf of Vantage Capital Group.

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Unlocking Africa’s Hydrocarbon Potential: Key Exploration Projects to Watch in 2025

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Hydrocarbon

The African Energy Week: Invest in African Energies 2025 conference will showcase the high-impact exploration drilling campaigns shaping the continent’s energy future

CAPE TOWN, South Africa, February 5, 2025/APO Group/ — 

Africa’s oil and gas industry continues to attract investment as new discoveries and frontier basins drive exploration activity across the continent. In 2025, several high-impact projects will shape the sector, offering opportunities for resource development and economic growth. As the continent’s premier oil and gas event, African Energy Week (AEW): Invest in African Energies 2025 will provide critical insights into ongoing and upcoming exploration activities, including high-impact drilling campaigns in Namibia, Angola, Libya and more. With discussions centered on investment, infrastructure and regulatory frameworks, the conference will highlight how these projects can drive economic growth and energy security.

TotalEnergies’ Venus Appraisal – Namibia

Following the massive Venus-1 discovery in 2022, TotalEnergies is intensifying its appraisal efforts in Namibia’s Block 2913B. The Venus prospect is believed to contain one of the largest oil accumulations ever found in sub-Saharan Africa. In 2025, additional drilling and well testing will help confirm reserve estimates and guide development planning. If commercial viability is established, Venus could be a game-changer for Namibia, attracting significant investment in infrastructure and production facilities.

Azule Energy’s Exploration Wells – Angola

Azule Energy, a joint venture between bp and Eni, is ramping up exploration efforts in Angola as the country seeks to sustain and expand its oil production. In 2025, the company plans to drill multiple offshore wells across its deepwater blocks, focusing on high-potential prospects in the Lower Congo and Kwanza Basins. With Angola aiming to attract new investment and maintain output amid maturing fields, Azule Energy’s drilling campaign is expected to play a crucial role in identifying new reserves and extending the country’s production horizon. Success in these wells could reinforce Angola’s position as a leading oil producer in Africa while driving further exploration interest in its offshore acreage.

Africa Oil Corp.’s Deepwater Activity – Nigeria 

The African Energy Chamber (AEC) will continue working with governments and the oil companies to attract foreign investment

In 2025, Nigeria’s offshore drilling activity will include continued development in key deepwater fields. Africa Oil Corp. is advancing drilling plans at the Akpo and Egina fields, following a successful infill production well at Akpo. Meanwhile, a new seismic acquisition at the Agbami field, completed in late 2024, is being processed ahead of a scheduled drilling campaign in 2026. These efforts aim to enhance production and optimize resource recovery in Nigeria’s offshore sector.

ReconAfrica’s Onshore Drilling – Namibia

While offshore exploration dominates headlines, onshore activity in Namibia’s Kavango Basin is also drawing attention. Canadian company ReconAfrica is continuing its drilling program in 2025, aiming to prove the existence of a working petroleum system in this frontier basin. Early results have been inconclusive, but new wells could provide the breakthrough needed to confirm hydrocarbon potential. Success here would open up a vast new exploration play, adding to Africa’s onshore energy resources.

Eni’s Sirte Basin Program – Libya

Eni remains committed to expanding its upstream operations in Libya. In 2025, the Italian major plans to drill new offshore wells in the Mediterranean, focusing on previously identified prospects with high hydrocarbon potential. The company has confirmed shallow, deepwater and ultra-deep offshore plays and currently has four exploration wells in its 2025 pipeline, including an offshore drilling campaign in the Sirte Basin by the end of the year.

“Oil and gas is the lifeblood of our civilization, therefore exploration is the arteries and veins. We need to continue promoting policies that can fast-track exploration. The African Energy Chamber (AEC) will continue working with governments and the oil companies to attract foreign investment, streamline project implementation, and reduce bureaucratic bottlenecks. We will see results at AEW: Invest in African Energies in Cape Town South with G20 leaders participating for the first time,” stated NJ Ayuk, Executive Chairman, AEC. 

Distributed by APO Group on behalf of African Energy Chamber.

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Namibia International Energy Conference 2025: Leading the Way to Becoming an Energy Hub with In-Country Value

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International Energy Conference

The Namibia International Energy Conference 2025, held in Windhoek, will gather together key stakeholders to drive industry growth, investment and strategic dialogue

WINDHOEK, Namibia, February 5, 2025/APO Group/ — 

With less than three months to go, momentum is building for the Namibia International Energy Conference 2025 (NIEC), set to take place from 23 – 25 April 2025 at the Windhoek Country Club Resort, under the theme “Leading the Way: Becoming an Energy Hub with In-Country Value”. Now in its 7th edition, NIEC is Namibia’s most established and influential energy platform, bringing together key stakeholders to drive industry growth, investment, and strategic discussions. 

NIEC2025 will convene government officials, industry leaders, investors, and the broader business community to discuss and shape Namibia’s growing role as an energy hub. The conference serves as a strategic platform for investment facilitation, technical insights, and high-level policy discussions, ensuring that Namibia remains at the forefront of Africa’s energy transformation. 

A Proven Platform for Energy Investment & Industry Partnerships

Founded by RichAfrica Consultancy, NIEC has grown into the premier platform where leading companies announce partnerships, provide exploration updates, and drive new investments in Namibia’s energy sector. Having welcomed over 2,200 attendees from 46 countries in previous editions, the conference remains Namibia’s premier platform for industry engagement.

Endorsed by the Ministry of Mines and Energy and supported by the African Energy Chamber, NIEC continues to contribute to Namibia’s energy transformation, attracting major industry players. Chevron has joined as an exclusive Diamond Sponsor, while Shell and RMB Namibia have reaffirmed their commitment as Sapphire Sponsors. Other confirmed sponsors include Total Energies, Woodside Energy, SONILS and SBM Offshore, reinforcing Namibia’s growing role in the global energy landscape. 

Strategic Industry Intelligence & Technical Sessions 

NIEC 2025 will focus on advancing Namibia’s energy ambitions through investment, sustainability and local content. With Namibia’s Upstream Local Content Policy now in effect, discussions will explore its potential impact on industry growth, workforce development, and supply chain integration. 

The conference will feature strategic industry intelligence sessions and technical presentations covering natural gas monetization, the role of critical metals in the energy transition, renewable energy expansion, energy infrastructure & logistics as well as financing Namibia’s energy future.

A High-Level Platform for Business & International Collaboration

With growing interest from international investors, local industry leaders and service companies, NIEC 2025 will welcome energy leaders from across the globe. Beyond discussions, the event will feature an exhibition showcasing innovations in energy technology and infrastructure, B2B networking sessions, and investment roundtables designed to facilitate deal-making and business growth. 

In addition to high-level discussions, NIEC 2025 will host initiatives aimed at industry engagement, including the Future Energy Leaders Initiative, which provides mentorship and networking for young professionals in the energy sector. 

Secure Your Spot at Namibia’s Leading Energy Conference

With demand for participation growing each year, early registration is highly recommended to secure a seat at this high-impact event. Energy professionals, investors, and policymakers looking to be part of Namibia’s energy transformation should not miss this exclusive opportunity.  For more information on the conference, visit www.NIEConference.com. Stay updated by following #NIEC2025 on social media. 

Join the leaders shaping the future of Namibia’s energy sector.

Distributed by APO Group on behalf of African Energy Chamber.

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Petrobras, Namibia Energy Corporation (NEC), the Brazilian Institute of Petroleum (IBP) and African Energy Chamber Strengthen Africa-Brazil Oil and Gas Investments in Rio

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The Investment Forum supported Brazil-Africa energy relations by providing a platform for partnerships and engagement

RIO DE JANEIRO, Brazil, February 5, 2025/APO Group/ — 

The African Energy Chamber (AEC) (www.EnergyChamber.org) – the voice of Africa’s energy sector – hosted an Invest in African Energies Investment Forum in Rio de Janeiro, Brazil, on 30 January 2025. Attended by key Brazilian energy stakeholders, including representatives from Petrobras, the Brazilian Petroleum Association and the Brazilian Association of Petroleum Geologists, alongside African stakeholders such as RichAfrica Consultancy, the event showcased investment opportunities in Africa’s energy sector, providing a platform for enhanced multilateral partnerships.

The event served to promote collaboration by exploring strategic investment avenues, highlight challenges to development while facilitating greater engagement between Brazilian and African energy players. During the event, the AEC’s Executive Chairman NJ Ayuk was also honored with the prestigious Best Brazil-Africa Integration in Petroleum Geology and Energy Award, which included a special book documenting key courses, events, conferences and workshops organized by the Brazilian Association of Petroleum Geologists since 2022.

In his remarks, Ayuk highlighted Africa’s lucrative oil and gas opportunities and urged global investors, including Brazilian firms, to tap into markets such as Namibia, Angola, the Republic of Congo and many more. He strongly defended Africa’s right to develop its hydrocarbon resources to lift 600 million people out of energy poverty and drive continent-wide industrialization.

“We will not stop developing and producing our oil and gas. Every drop must be utilized to fuel our economies, just as Western nations have done, to drive industrialization and economic growth,” Ayuk stated.

He urged Brazil to maximize its oil and gas production and stand with Africa against Western pressures discouraging fossil fuel development in the name of the energy transition.

“Brazil accounts for less than 1% of global greenhouse gas emissions and Africa as a whole contributes less than 3%. Yet, we are told to stop developing our resources. A kettle in the UK consumes more electricity than seven African families combined. Heathrow Airport alone uses more power than the entire nation of Sierra Leone. We want to use our gas to produce fertilizers so we don’t have to beg for food from Ukraine,” Ayuk emphasized.

As one of the world’s final frontiers for oil and gas exploration, Africa offers a wealth of opportunities for foreign investors. Countries like Namibia – which recently emerged as a global exploration hotspot due to a slate of offshore discoveries in the Orange Basin – offer growth opportunities for Brazilian companies. Brazil’s Petrobras is currently assessing investment opportunities in Namibia, highlighting the potential for collaboration between the two nations.

If Brazil was not a producer and had to import 2 million barrels of oil daily to meet demand, our economy would struggle

“Almost every major oil company such as Chevron, Shell, TotalEnergies, Galp and more have made discoveries in Namibia. That speaks volumes about the country’s geological potential,” Ayuk noted.

He also commended Ndapwilapo Selma Shimutwikeni, Managing Director of RichAfrica Consultancy, for her 12 years of dedicated efforts in promoting Namibia’s oil and gas potential, which has led to a surge in global interest.

“Selma stood by Namibia when everyone doubted its potential. People said there was no oil but she never gave up, she championed Namibia’s energy sector with dignity and integrity and promoted Namibia as Africa’s number one investment destination for oil and gas investments,” Ayuk said. He also invited Brazilian firms to explore Namibia’s energy opportunities at the upcoming Namibian International Energy Conference, set for April 23–25 in Windhoek.

Shimutwikeni reinforced Namibia’s commitment to becoming an African energy hub, emphasizing the transformative impact of oil and gas resources on the country’s 3 million people.

“We see Brazilian firms as valuable partners in exploration and development. Brazil’s journey of resilience and transformation is an inspiration to us,” she stated.

Meanwhile, Marcio Rocha Mello, President and Founder of Namibia Energy Corporation, emphasized Brazil’s commitment to partnerships, pledging to invest in upstream exploration and infrastructure in Namibia and across Africa. “Brazil is a nation that shares, builds and grows together with our partners,” he affirmed. The renowned ‘oil man’ is bullish about finding more oil in deep water Namibia.

Sylvia Anjos, Executive Director of Exploration and Production at Petrobras, reaffirmed the company’s commitment to expanding investments in Africa, specifically in Namibia, Nigeria, Angola and South Africa. These investments aim to sustain production and drive new discoveries.

“If Brazil was not a producer and had to import 2 million barrels of oil daily to meet demand, our economy would struggle. We hope Namibia starts producing soon – it will make a huge difference,” Anjos stated.

Further reinforcing Brazil’s interest to invest in African oil and gas, Carla Araujo, President of the Brazilian Association of Petroleum Geologists, highlighted the country’s readiness to support Brazilian firms exploring Africa’s energy opportunities, with a focus on workforce development, training and market insights.

Distributed by APO Group on behalf of African Energy Chamber.

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