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Zambia’s Finance Minister Joins African Energy Week (AEW) 2024 Amid Calls for Foreign Investment in Untapped Energy Opportunities

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2 years ago

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African Energy Week

During the upcoming African Energy Week: Invest in African Energy, Situmbeko Musokotwane will engage with a suite of global investors as the country moves to unlock the full potential of its energy industry

CAPE TOWN, South Africa, June 19, 2024/APO Group/ — 

Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane will speak at the upcoming African Energy Week (AEW): Invest in African Energy conference – Africa’s premier energy event, scheduled for November 4-8 in Cape Town. Through his participation, Minister Musokotwane will provide strategic insights into investment opportunities across Zambia’s energy sector – a market ripe with opportunity.

Zambia is exploring various financing mechanisms to enhance investment flows within the energy sector for improved energy security. In April 2024, the Zambian government introduced the Demand Stimulation Incentive, a financial mechanism aimed at attracting investments in mini-grids. The incentive will support Zambia’s 1,000 Mini-Grid Initiative, designed to accelerate energy access through mini-grid deployment. Innovative finance mechanisms designed to boost energy investments in Zambia will be unpacked during AEW: Invest in African Energy.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Zambia is strengthening its cooperation with global financial institutions to accelerate energy mix diversification, address an 810 MW energy demand-supply gap, and achieve its goal of universal energy access by 2030. Currently, 31% of the population is connected to the grid. In April 2024, Zambia secured funding from the World Bank to implement the National Energy Advancement and Transformation Program. The $700 million project aims to attract private sector investment to improve electricity infrastructure and enhance the financial sustainability of state utility Zesco.

Additionally, Zambia is collaborating with the African Development Bank to raise funds for multiple power projects, including the Itezhi-Tezhi (ITT) Transmission Line project and the Wind Energy Promotion Project. During the event, Minister Musokotwane will discuss the role of public-private partnerships in advancing Zambia’s energy sector growth, unpacking how the country is working with private players to advance power projects.

In the oil and gas industry, Zambia is prioritizing cooperation with regional counterparts – including Angola, Namibia and Tanzania – to fund infrastructure projects and secure petroleum supplies. The country’s total petroleum requirements are met through imports due to the lack of commercial oil and gas discoveries. As such, cross-border projects have been given priority status as the government aims to secure trade partnerships.

Zambian company Tazama Pipelines plans to invest $2.5 billion towards the expansion of the existing Tanzania-Zambia Crude Oil Pipeline. The pipeline will enable Zambia to capitalize on oil and gas from upcoming projects across the East African region, including the Kingfisher and Tilenga developments in Uganda and the Tanzania LNG project. In 2023, Zambia and Tanzania agreed to enhance financial and security contributions to protect and maintain the pipeline.

Additionally, in January 2023, Zambia signed an agreement with Angola to increase oil and gas imports, following a 2022 deal where Zambia acquired a stake in Angola’s planned 200,000 barrels per day Lobito Refinery project. Zambia and Angola are also working on a $5 billion pipeline project to transport petroleum products from Angola to Zambia. Furthermore, in 2022, Zambia signed a deal with Namibia to develop an oil pipeline from the Namibian port of Walvis Bay. The pipeline will enable Zambia to tap into Namibia’s growing oil and gas potential from the country’s recent discoveries.

In-country, private and public entities are adopting new financing mechanisms to support infrastructure growth. Swiss petroleum business company Puma Energy partnered with Zambian bank Zanaco to launch the Micro-Financing LPG project in 2023. The project will provide funding to consumers and LPG businesses to accelerate the adoption of LPG for clean cooking in Zambia. AEW: Invest in African Energy represents the best platform for Minister Musokotwane to discuss incentives and policies aimed at attracting investment across Zambia’s oil and gas value chain.

“Zambia has made notable progress in integrating its energy sector with regional counterparts to strengthen its grid and energy supply. Zambia’s investment climate is positive, presenting an opportunity for the country to secure new partners for energy sector growth,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy, Minister Musokotwane will engage in high-level panel discussions and exclusive networking sessions, highlighting lucrative investment prospects in Zambia’s energy industry.

Distributed by APO Group on behalf of African Energy Chamber.

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Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

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2 days ago

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July 24, 2026

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Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

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Energy

Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

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3 days ago

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July 24, 2026

By

African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

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

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Business

Africa Trade Gateway Delivers US$5.3-Million Cross-Border Transaction in First Energy Sector Trade in Southern Africa

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3 days ago

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July 24, 2026

By

Afreximbank

The transaction represents an important milestone for both the participating institu-tions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transac-tion in Southern Africa

HARARE, Zimbabwe, July 23, 2026/APO Group/ –A US$5.3-million cross-border fuel (gasoil) trade transaction has been successfully completed with support of the Africa Trade Gateway (ATG), African Export-Import Bank’s (Afreximbank’s) (www.Afreximbank.com) flagship digital trade ecosystem, demonstrating the value and efficacy of the Gateway in powering African trade.

The transaction, which saw Zimbabwean fuel importer Witeva Trading source a gasoil shipment from a leading commodity trader and supplier in Switzerland, with Innbucks Microbank Ltd. participating as the local issuing financial institution and Afreximbank providing confirmation support under agreed trade finance structure, demonstrates how African businesses can leverage one connected ecosystem to identify opportunities, access finance and complete international trade more efficiently.

The ATG made it possible for the commercial opportunity to be connected to the right ecosystem participants, bringing together the buyer, supplier and participating financial institutions to support a successful execution of the transaction.

The transaction represents an important milestone for both the participating institutions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transaction in Southern Africa.

This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem

It also demonstrates how African Businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, access trade-finance support and execute cross-border transactions more efficiently.

Peter Olowononi, Director, Regional Operations, Southern Africa, at Afreximbank, said:

“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”

Emeka Onyia, Director, Digital Business, at Afreximbank, added:

“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”

“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.

Distributed by APO Group on behalf of Afreximbank.

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