This facility targets financing for small and medium-sized enterprises (SMEs) in the Distributed Renewable Energy (DRE) sector

DAR ES SALAAM, Tanzania, January 29, 2025/APO Group/ — 

The African Guarantee Fund (AGF) (www.AfricanGuaranteeFund.com) today announced the launch of its Mission 300 Local Currency Guarantee Facility, a groundbreaking initiative to mobilize $5 billion to support energy access projects across Africa. This facility targets financing for small and medium-sized enterprises (SMEs) in the Distributed Renewable Energy (DRE) sector.

The facility forms a critical component of an ambitious initiative led by the African Development Bank Group and the World Bank Group, to provide electricity  to 300 million Africans by 2030.

Africa faces a significant energy access challenge, with approximately 600 million people lacking electricity as of 2023. The continent is estimated to require an annual investment of nearly $25 billion to achieve universal energy access by 2030.

“The Mission 300 Local Currency Guarantee Facility will encourage collaboration with African governments whilst leveraging concessional financing from the African Development Bank, the World Bank Group, and other development partners to scale the involvement of local banks in financing Distributed Renewable Energy solutions,” said Wale Shonibare, Director for Energy Financial Solutions, Policy and Regulations at the African Development Bank. He is also a non-Executive Director with the Africa Guarantee Fund.

The fund has been at the forefront of bridging the financing gap facing green SMEs by steering the implementation of the Green Guarantee Facility, supported by the Nordic Development Fund and the Investment Fund for Developing Countries.

By addressing financing gaps and fostering public-private partnerships, AGF plays a crucial role in driving inclusive energy solutions

The Green Guarantee Facility has mobilized financing for green, clean, and renewable energy projects while positioning AGF as a leader in driving sustainable development in Africa. The Green Guarantee Facility mitigates risks within loan portfolios, lowering the exposure of financial institutions to defaults and enhancing their confidence in lending to distributed renewable energy  SMEs. It has also accelerated electrification efforts, particularly in underserved rural and peri-urban communities.

By addressing systemic barriers such as high collateral requirements, currency mismatches, and the lack of long-term financing, AGF has been able to de-risk SME lending and mobilize significant private sector capital into Africa’s energy transition.

With its proven track record in catalyzing SME financing while leveraging innovative guarantee solutions and capacity-building programs, the AGF is best positioned to advance Africa’s energy transformation.

“AGF’s leadership in driving financial innovation for SMEs aligns seamlessly with the goals of Mission 300. By addressing financing gaps and fostering public-private partnerships, AGF plays a crucial role in driving inclusive energy solutions, accelerating the energy transition, and reducing carbon emissions across the continent,” said Jules Ngankam, AGF Group CEO. “We have successfully implemented the Green Guarantee, which has facilitated progress toward national commitments under the Africa Energy Declaration, the African Union’s Vision 2063, and the global Sustainable Development Goals, fostering inclusive growth and climate resilience.”

A recent example of AGF’s impact in the energy sector is its participation in a credit guarantee syndication for a 40 MW solar plant in Madagascar. This landmark transaction demonstrated the viability of local currency financing for renewable energy projects in the country while enhancing power sector resilience through diversification away from thermal power. The project, which provides improved electricity access to approximately 285,000 people, supports both UN Sustainable Development Goal 7 (affordable and clean energy) and Goal 13 (climate action) by reducing emissions by 34,000 tonnes of CO2 through the displacement of thermal power.

Distributed by APO Group on behalf of African Guarantee Fund.

The African Energy Chamber’s 2025 Movers and Shakers list highlights the dynamic contributions of energy ministers from Namibia, the Republic of Congo and Equatorial Guinea, as well as national oil companies of South Africa, Ivory Coast, Brazil and more

JOHANNESBURG, South Africa, January 28, 2025/APO Group/ — 

Key African energy ministers, national oil companies (NOCs) and regulators have been recognized for their contributions to advancing hydrocarbon exploration, LNG megaprojects and policy reforms in the African Energy Chamber’s (www.EnergyChamber.org) Top 40 Movers and Shakers to Watch in 2025 list. 

Namibia’s Tom Alweendo, Minister of Mines and Energy, is at the forefront of the country’s emerging oil industry. With first oil expected by 2029 and a pioneering local content policy in place, Minister Alweendo is focused on translating Orange Basin discoveries into tangible development, while balancing investor and community needs. In the Republic of Congo, Bruno Jean-Richard Itoua, Minister of Hydrocarbons, has led milestones including the country’s first LNG exports and the Banga Kayo gas project. As Congo prepares for a 2025 licensing round and implements its Gas Master Plan, Minister Itoua’s leadership will be critical in positioning the country as a leading energy hub. Equatorial Guinea’s Antonio Oburu Ondo, Minister of Mines and Hydrocarbons, is driving efforts to reverse declining oil and gas production. Minister Ondo is tasked with securing investment, implementing the Gulf of Guinea gas pipeline project with Nigeria, and advancing the Yoyo-Yolanda gas project to revitalize the country’s energy sector. 

Africa’s leading NOCs and regulators were also recognized for their pivotal role in driving energy sector developments in 2025. Godfrey Moagi, CEO of South Africa’s National Petroleum Company (SANPC), is spearheading efforts to develop the Brulpadda and Luiperd discoveries, while advancing gas-to-power projects at Saldanha Bay, Richards Bay and Coega LNG terminals. Moagi’s leadership will determine SANPC’s ability to establish itself as a key player in the country’s energy transition. In Angola, Sebastião Gaspar Martins, CEO of Sonangol, is driving a sweeping transformation to restore the company’s profitability. With strategic partnerships, operational streamlining and the sale of non-core assets, Sonangol is poised to emerge as a more efficient and competitive entity under his guidance. 

Maxient Raoul Ominga, Managing Director of SNPC, is spearheading initiatives in the Republic of Congo to boost oil production to 500,000 barrels per day. Through the development of key fields and implementation of the Gas Master Plan, Ominga is positioning Congo as a competitive gas player while reducing flaring and diversifying revenue streams. In Ivory Coast, Fatoumata Sanogo, CEO of PETROCI, is driving hydrocarbon development through strategic partnerships with TotalEnergies and Eni. With the Baleine field development on track to significantly boost production by 2025, PETROCI is cementing the country’s position as a regional energy hub. 

Sylvia dos Anjos, Head of E&P at Petrobras, is leading the Brazilian NOC’s ambitious re-entry into Africa, targeting markets in Namibia, South Africa and Angola. Her vision focuses on leveraging untapped reserves to establish Petrobras as a competitive player and strengthen Brazil’s partnership with Africa. In Sierra Leone, Foday Mansaray, Director General of the Petroleum Directorate, is fostering investment in offshore oil and gas exploration. Following the successful conclusion of Sierra Leone’s fifth licensing round, Mansaray is focused on turning interest into tangible exploration and production gains. 

As Africa’s energy future continues to unfold, the AEC remains committed to recognizing and supporting the leaders who are making transformative impacts in the sector. For the full Africa’s Top 40 Movers and Shakers to Watch in 2025 list, visit www.EnergyChamber.org 

Distributed by APO Group on behalf of African Energy Chamber.

Sonils will participate at the inaugural Congo Energy & Investment Forum as a Champion Sponsor

BRAZZAVILLE, Congo (Republic of the), January 28, 2025/APO Group/ — 

Angolan logistics provider Sonils has joined the upcoming Congo Energy & Investment Forum (CEIF) 2025 – taking place in Brazzaville from March 24-26 – as a Champion Sponsor. The inaugural CEIF conference will convene industry leaders, policymakers and stakeholders to explore investment opportunities and advancements within the Republic of Congo’s burgeoning energy sector.

Sonils, which serves as the integrated logistics and services arm of Angola’s state-owned Sonangol, supports the country’s primary onshore oil and gas supply bases. The company provides support to Angola’s oil and gas industry through the provision of facilities and areas allocated for the management of the country’s offshore operations.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

Sonils has a history of supporting regional oil production through services related to cargo handling, engineering and the development of specialized oil and gas facilities. By leveraging its established infrastructure and industry knowledge, the company is well-positioned to play a pivotal role in supporting the Congo’s energy sector growth.

Having exported its first LNG cargo in February 2024 and with aims to double its crude oil production within the next three years, the Congo is well-positioned to leverage Sonils’ expertise in logistics and infrastructure development. The company’s experience in managing large-scale logistics operations can assist the Congo in efficiently handling increased production volumes and expanding its export capabilities.

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