Category: English

Source: APO

Venezuela will host its largest-ever international energy investment summit on 26–29 October 2026 in Caracas, bringing together U.S., Venezuelan and international oil companies, investors, financiers and technical service providers to advance near-term investment opportunities across the country’s reopening energy sector.

Officially supported by the Ministry of Hydrocarbons and national oil company PDVSA, Venezuela Energy Week 2026 is designed to accelerate capital deployment across one of the world’s largest hydrocarbon resource bases.

Venezuela holds over 300 billion barrels of proven oil reserves – the largest globally – alongside more than 195 trillion cubic feet of natural gas. With current production at approximately 1–1.1 million barrels per day, the government has set a strategic target to restore output toward 3 million barrels per day through phased investment, field rehabilitation and expanded private sector participation.

Recent 2026 hydrocarbons reforms are materially reshaping the commercial framework. These include reduced fiscal burdens, expanded production-sharing mechanisms, strengthened arbitration protections and increased operational control for foreign partners. For international investors, these changes signal a shift toward more internationally aligned contract structures and improved capital recovery visibility.

The investment case is underpinned by scale, speed-to-market potential and significant brownfield upside. Venezuela’s producing basins – particularly the Orinoco Oil Belt, Maracaibo Basin and Eastern Venezuela Basin – offer a combination of undeveloped mega-projects and mature assets primed for enhanced recovery. Priority opportunities include large-scale developments across the Orinoco Belt, including Junín, Carabobo and Ayacucho; brownfield rehabilitation in the Maracaibo Basin; reactivation of shut-in wells through new drilling programs; and heavy crude upgrading and blending infrastructure to support export growth.  

In parallel, underutilized refining capacity and constrained midstream infrastructure are opening near-term investment opportunities across rehabilitation, logistics and export systems. Refining capacity of nearly 1.3 million barrels per day is currently operating at roughly 35% utilization, creating immediate opportunities in refinery rehabilitation, midstream logistics, storage and export terminal expansion.

Gas monetization is emerging as a key growth segment, with offshore developments such as the Dragon and Cocuina-Manakin fields positioning Venezuela as a future supplier to regional and global LNG markets. Associated gas capture, processing and transport infrastructure remain underdeveloped, offering additional entry points for technical and financial partners.

Overall sector rehabilitation is estimated to require up to $100 billion in investment, with approximately $10 billion annually needed over the next decade to restore production capacity, modernize infrastructure and scale exports.

Venezuela Energy Week 2026 will feature dedicated investment tracks focused on upstream technical opportunities, commercial structuring, infrastructure integration and digital optimization, including AI-driven field management and energy systems modernization. The program will also include discussions on workforce development and local participation across the evolving oil and gas sector, supported by dedicated Youth in Energy sessions. This track will spotlight emerging talent, early-career professionals and next-generation leadership across the energy value chain, with a focus on skills development, innovation and cross-generational knowledge transfer.

With participation from leading industry bodies, the event will align technical expertise with capital deployment strategies, reinforcing its position as a gateway for U.S. and international investors evaluating market re-entry.

The program will conclude on 29 October with curated site visits to key upstream and downstream assets, offering investors direct exposure to operational conditions and project readiness across Venezuela’s core producing regions.

As global energy markets recalibrate and supply security remains a strategic priority, Venezuela’s reopening presents a high-impact, large-scale opportunity for investors navigating a complex but increasingly investable environment.

The summit is organized by Energy Capital & Power. For participation opportunities:

• General inquiries: Info@venezuelaenergyweek.com
• Speaking opportunities: Speaker@venezuelaenergyweek.com
• Sponsorship and partnerships: Sponsor@venezuelaenergyweek.com
• Delegate registration: Registration@venezuelaenergyweek.com

For more information, visit www.VenezuelaEnergyWeek.com.

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

Source: APO

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Preparations are well underway for the 6th Canada–Africa Business Conference, taking place in Lagos, Nigeria, on June 24–25, 2026, with dozens of Canadian companies already anticipated to participate.

The Honourable Randeep Sarai, Secretary of State (International Development), recently concluded a visit to Nigeria, from May 21 to 22, 2026, where he highlighted the 6th Canada–Africa Business Conference (https://apo-opa.co/3RzYGYi), taking place later this month in Lagos. This flagship conference, led by the Canada-Africa Chamber of Business, will convene senior decision-makers from across Canada and Nigeria to unlock new opportunities in trade, investment and large-scale project delivery across the continent. 

Garreth Bloor, President of The Canada–Africa Chamber of Business, said the Secretary of State’s recognition (https://apo-opa.co/4uWl5xq) of the conference, during his recent visit to Nigeria, reinforces the role of key private-sector partners.

“I wish to thank Zenith Bank Plc for taking the lead in accelerating Canada–Africa trade and investment as a financial institution of choice for Canadian companies across the continent, as we build the Canada–Africa growth story together in this important next chapter of global growth,” said Bloor.

The 6th Canada–Africa Business Conference will bring together business leaders, investors, institutional partners, and senior representatives of governments to advance practical opportunities including – but not limited to – trade, investment, financing, infrastructure, retail expansion, technology and energy.

The Chamber said the conference forms part of its broader work to strengthen private-sector-led economic ties between Canada and Africa, supporting trade diversification and deeper commercial engagement with one of the world’s fastest-growing regions.

“Nigeria is Canada’s second-largest merchandise trading partner in Africa and represents an important market as we look to double our non-U.S. exports by 2035. I’m pleased to see so many Canadian businesses take part in the upcoming Canada-Africa Business Conference in Lagos, Nigeria. By fostering increased Canada-Nigeria partnerships in the financial services, infrastructure, energy, mining, agriculture, and clean technologies sectors, we are supporting trade diversification, creating well-paying jobs, and driving sustainable economic growth in Canada and across the African continent.” – Honourable Maninder Sidhu, Minister of International Trade, Canada.

“We look forward to bringing Canadian companies to the conference and engaging with Nigeria’s private and public sectors. Canada’s engagement in Nigeria reflects a broader vision for our relationship with Africa, one grounded in the understanding that the next chapter of global growth is being shaped as much in Lagos, Nairobi, and Accra as in London, New York, and Toronto. The centre of gravity of the global economy is shifting, and Canada is ready to help shape that future together.” – Secretary of State for International Development, Honourable Randeep Sarai, Canada.

 “Zenith Bank Plc is proud to serve as headline sponsor of the 6th Canada–Africa Business Conference in Lagos, an important platform for deepening trade and investment between Canada and Nigeria. As one of Africa’s leading financial institutions, we are committed to supporting Canadian companies seeking to engage with Nigeria and the broader continent, while advancing practical partnerships that contribute to shared growth, innovation, and sustainable prosperity. – Dame Dr. Adaora Umeoji, OON – Group Managing Director/CEO, Zenith Bank Plc.

“With over a decade of on-the-ground operations in Nigeria, GardaWorld Security – Africa is delighted to support the 6th Canada-Africa Business Conference in Lagos. This event provides a valuable forum to showcase our experience as a business with Canadian roots while highlighting the strong opportunities presented by Nigeria’s dynamic economy.

Backed by established operations and infrastructure in 13 African countries, GardaWorld Security – Africa is a global champion in sophisticated, tailored security services and technology solutions. We remain firmly committed in supporting businesses and other organizations to thrive in Nigeria and across the continent.” – Mike Gibson, Managing Director – Angola, DRC, Mozambique & Nigeria, GardaWorld Security – Africa.

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

About the Canada–Africa Chamber of Business:
The Canada–Africa Chamber of Business is a leading private-sector platform accelerating trade and investment between Canada and African markets. Through major conferences, sector-focused programs, and high-level business engagement, the Chamber convenes companies, investors, institutions, and government leaders to advance practical partnerships and long-term economic growth.

Source: APO

Parliament has completed the vetting of Cabinet and state ministers who were recently appointed by the President Yoweri Museveni.

The two-day exercise was carried out by the Appointments Committee chaired by Speaker Jacob Marksons Oboth.

High on the agenda of some of the newly appointed ministers is combating corruption.

The State Minister for Local Government, Hon. Justine Nameere said action will be taken on errant officers in local governments noting that several whistleblowers have already reported incidents of corruption.

“The revenues at cities, districts and the divisions are being under declared. A city is collecting Shs1.7 billion, but an errant town clerk will tell you they are collecting Shs20 million. That is a huge leakage. We must ensure government programmes are alive and also buttress the supervisory role,” Nameere said.

The State Minister for National Guidance, Hon. Alioni Yorke Odria proposed digital measures to curb graft.

“Through the ministry, we are going to introduce software that we shall use to fight corruption, be it through phone calls or bank systems. We shall work with other ministries to ensure that this fight is done across the board,” Odria said.

Realignment of public service positions and transparency in recruitment for jobs is top on Hon. Lydia Wanyoto’s priorities as she commences her role as State Minister for Public Service.

“I have heard severally that there are many people in acting capacity, that there are challenges of promotions. There are reports of public service boards asking for bribes to give jobs. We shall ensure that Ugandans who qualify go through due recruitment processes and that no Ugandan pays for a public service job,” Wanyoto emphasised.

Ugandans were urged to remain calm and follow standard health operating procedures in light of the recent Ebola cases, with new State Minister for Primary Health Care, Hon. Charles Ayume noting that a lockdown is not necessary.

“We are guided by scientific evidence so we should not panic. A lockdown is usually the last measure but right now, the Ministry [Health] is doing whatever it takes through surveillance, creating awareness and early warning systems,” Ayume said.

Hon. Phyllis Chemutai, the State Minister for Primary Education pledged to work towards improving the standing of UPE schools in the country, especially through improving infrastructure.

“There is also a problem of poor feeding of primary pupils and many parents cannot afford the feeding policy. This causes children to perform poorly and dropout of school. I will advocate that children are given food to sustain them in school,” Chemutai pledged.

Amb. Adonia Ayebare, the Minister for Foreign Affairs said he will work towards bringing all Ministries, Departments and Agencies as stakeholders in Uganda’s foreign policy.

“This will ensure that we are all well-coordinated in delivering effective implementation of our foreign policy which is based on patriotism, regional integration and pan-Africanism,” Amb. Ayebare said.

The role of the Appointments Committee is provided for in Rule 173 of the Rules of Procedure of Parliament, which states that, the committee shall be responsible for approving, on behalf of Parliament, the appointment of persons nominated for appointment by the President.

The Speaker will now write to the President as provided for in Rule 177. 

“The Speaker shall communicate to the President in writing, within three working days after the decision of the Committee on Appointments, on any person nominated by the President for appointment,” the rule states. 

Distributed by APO Group on behalf of Parliament of the Republic of Uganda.

Source: APO

The Fund for Export Development in Africa (FEDA), the equity investment arm of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), has announced the appointment of Mr. Emmanuel Assiak as its Chief Executive Officer, effective 15 December 2025.

The appointment comes at a pivotal stage in FEDA’s growth, as it continues to scale its investment activities to support Africa’s export development and industrialization agenda, especially amid severe capital flight. Strong leadership will be key to advancing FEDA’s mandate to mobilize and deploy capital into export-oriented sectors aligned with Afreximbank’s strategic priorities.

Mr. Assiak brings over 30 years’ experience in financial services, including about 20 years in private equity. He has a strong track record of leading and supporting large-scale investments across African markets, with deep expertise in transaction structuring, capital deployment, and value creation. He has led investments across multiple sectors in Africa, served on several corporate boards, and successfully executed complex transactions and investor exits. His experience spans leadership, strategic partnerships, institution-building, and driving transformational investments across the continent.

He has been closely involved in FEDA’s development since inception, having served as Pioneer Director and Managing Director/Chief Investment Officer for over six years, and most recently as the interim Chief Executive Officer since November 2025.

During his tenure as Chief Investment Officer, he played a key role in establishing FEDA’s investment platforms and building its portfolio, contributing significantly to the growth and institutional development.

Prior to joining FEDA in 2019, Mr. Assiak served as Vice President and Principal at African Capital Alliance -a pan-African investment group-, and held senior roles in the Nigerian banking sector, including at Zenith Bank Plc. and Continental Trust Bank (now part of United Bank for Africa (UBA) Group).

Mr. Assiak holds a Master of Business Administration (MBA) from Manchester Business School, a Master of Science in Economics from the University of Lagos and a Bachelor of Science in Economics from the University of Cross River State (now University of Uyo). He is a Fellow of the Institute of Chartered Accountants of Nigeria and holds an executive certification in Private Equity at the Coller Institute, London Business School.

Dr. George Elombi, President and Chairman of both the Board of Directors of Afreximbank and FEDA, commented: “Mr. Assiak’s leadership, deep institutional knowledge, and understanding of Africa’s private equity market are critical to strengthening Africa’s private sector, a key driver of Africa’s intra-African trade and economic transformation. Given his track record, we expect FEDA to continue to mobilize and deploy strategic investments aimed at accelerating industrialization, value addition, and boosting export development across the continent.”

Commenting on his appointment, Mr. Emmanuel Assiak, Chief Executive Officer, FEDA said: “I extend my sincere appreciation to the Board of Directors of FEDA and Afreximbank for their continued trust and confidence. FEDA is contributing significantly to mobilizing long-term capital for Africa’s export and industrial sectors, and we will build on the established strong foundation. Together with our partners, FEDA will deepen its impact by scaling investments that unlock value, strengthen intra-African trade, and support the continent’s industrialization agenda.”

Mr. Assiak will be based in Kigali, Rwanda.

Distributed by APO Group on behalf of Afreximbank.

Media Contact: 
Vincent Musumba 
Communications and Events Manager (Media Relations) 
Email: press@afreximbank.com 

Social Media: 
FEDA
LinkedIn: https://apo-opa.co/4fmBGFT

Afreximbank
X: https://apo-opa.co/49wJph4
Facebook: https://apo-opa.co/3RFsD9m
LinkedIn: https://apo-opa.co/4uNQDFW
Instagram: https://apo-opa.co/4o4mdg4

About FEDA:
The Fund for Export Development in Africa (“FEDA”) is the impact investment subsidiary of Afreximbank (www.afreximbank.com), set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa. FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks.  To date, FEDA has invested more than US$1.3 billion in companies and projects across its various fund initiatives, in sectors such as manufacturing, agro-processing, financial services, healthcare and pharmaceuticals, amongst others.

For more information, visit: www.FEDAgroup.org  

About Afreximbank: 
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank’s total assets and contingencies stood at over US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), and. Moody’s (Baa2). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt. 

For more information, visit: www.Afreximbank.com

Source: APO – Report:

Ecobank Group (www.Ecobank.com) has launched the world’s first ICMA commercial bank-issued Nature Bond on the London Stock Exchange, creating a new route for international and African capital to protect Africa’s biodiversity. Moody’s awarded the transaction its highest possible sustainability quality score, SQS1 Excellent. The bond will support African farmers, sustainable agriculture businesses and water systems, protecting some of the planet’s most important ecosystems.

Impact on the ground in Africa

Africa is home to some of the world’s most important natural capital, including arable land, tropical forests, freshwater systems and biodiversity across hundreds of millions of hectares. But, until now, private nature capital has not flowed to Africa at the scale the continent’s ecological significance warrants in global ecological resilience. Despite hosting 25% of global biodiversity, Africa receives less than 3% of nature finance      

Ecobank’s Nature Bond is a direct response to this gap. It will support smallholder farmers adopting sustainable agricultural practices, agri-processors with verified deforestation-free supply chains, and water infrastructure protecting freshwater ecosystems relied upon by millions of people. Unlike many conservation-focused financing vehicles, Ecobank’s Nature Bond channels capital directly through Africa’s real economy — financing businesses and communities whose day-to-day activities shape environmental outcomes at scale.

The investments will be made in 24 markets, with significant deployment in biodiversity-priority countries such as Côte d’Ivoire, Burkina Faso and Ghana. Importantly, 81% of the eligible lending pool is allocated to countries where agricultural land-use change is the primary driver of biodiversity loss, helping direct capital to the areas where it can have the greatest environmental impact.

The framework also incorporates independent monitoring and verification mechanisms, including deforestation screening and supply chain traceability requirements, helping ensure that financed activities deliver measurable nature-positive outcomes. Every eligible loan carries seven independently verified sustainability conditions.

The launch of this bond also comes as governments and investors worldwide face mounting pressure to mobilise private capital for biodiversity protection and sustainable land use.

What is a Nature Bond?

A Nature Bond, under the ICMA secondary designation, requires proceeds to actively contribute to nature-positive outcomes, including transforming economic activities to reduce the drivers of nature loss at scale.

The Nature Bond was designed to reach those that conservation-focused instruments were not designed to serve – farmers, agri-processors and water operators whose daily activities collectively determine ecosystem outcomes.

While green bonds typically finance a broad range of environmental objectives, the Nature Bond designation focuses the use of proceeds specifically on nature-related outcomes, including biodiversity, sustainable agriculture, land use and water infrastructure.

The transaction

The USD 450 million bond was priced following strong investor demand with the final orderbook exceeding USD 1.36 billion – 3.9x the original target size. The strength of demand enabled Ecobank to increase the transaction by USD 100 million and tighten pricing by 50 basis points.

The transaction attracted support from both international and African investors, demonstrating Ecobank’s unique ability to mobilise capital across global and African markets.

For the first time, international and African capital markets have a credible, scalable mechanism for financing the protection of African natural capital through the communities who depend on it.

Jeremy Awori, Group Chief Executive Office, Ecobank Transnational Incorporated, commented:

“This transaction is a defining moment for African sustainable finance. Investors did not just support this bond. They demanded more of it, allowing us to increase the size and tighten pricing.

We are not a bank that simply labels bonds. We have spent four years building the systems, governance and accountability needed to make nature finance credible and scalable in Africa.

This bond is ultimately about the farmers, cooperatives and communities whose livelihoods depend on healthy ecosystems.”

Rachael Antwi, Group Head of Sustainability and ESRM, Ecobank Transnational Incorporated, added:

“Nature finance will only scale in Africa if it is practical, measurable and connected to the real economy. This bond is designed to do that by linking international capital to eligible lending for sustainable agriculture and water infrastructure across 24 countries. It reflects the systems and standards Ecobank has built to ensure nature finance supports both environmental resilience and the communities whose livelihoods depend on healthy ecosystems.”

– on behalf of Ecobank Transnational Incorporated.

Media Contact:
Christiane Mbimbe Bossom
Group Communications
Ecobank Transnational Incorporated
Email: groupcorporatecomms@ecobank.com

Hudson Sandler
ecobank@hudsonsandler.com

About Ecobank Group (or ‘Ecobank Transnational Incorporated’ or ‘ETI’):
Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 34 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 14,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 30 million customers. For further information, please visit www.Ecobank.com.