Category: English

Source: APO

Angola’s national oil company (NOC) Sonangol has joined the Angola Oil & Gas (AOG) conference as a Diamond Sponsor. The company’s participation comes as it implements a bold development drive in Angola, targeting new exploration opportunities, increased production and 445,000 barrels per day (bpd) in refining capacity. Sonangol’s sponsorship reflects a broader commitment to using oil and gas as a catalyst for development in Angola and is expected to unlock new pathways for global collaboration.

Producing upwards of 200,000 bpd in oil and gas and supplying the market with 5.4 million metric tons of refined products, Sonangol is an instrumental part of Angola’s oil and gas market. The company has stakes in 35 concessions, of which nine are operated, and has positioned itself as the partner of choice for upstream players. Sonangol is in the process of transforming itself from an NOC into a competitive upstream player. The company reaffirmed its plan to launch an Initial Public Offering, with 30% of the company’s shares set to become available. The partial privatization is not only expected to generate capital to support exploration and production projects, but strengthen Sonangol’s role as a major upstream operator in Angola.

The anticipated IPO comes as Sonangol advances a series of major oil and gas projects in collaboration with international partners. These include the Agogo Integrated West Hub Development, on track for production by late-2025 and adding 120,000 bpd to the market, as well as the Kaminho deepwater development. Kaminho achieved a final investment decision in 2024 and will start operations in 2028. With the country striving to sustain oil production above one million bpd, Sonangol is also pursuing new development opportunities in Angola, working closely with international operators to unlock new resources. Notably, the company signed a memorandum of understanding with Brazilian state-owned multinational corporation Petrobras in May 2025, covering research and development activities. The agreement follows another deal signed in March 2025 between the companies, outlining the joint study of offshore acreage in Angola. 

Meanwhile, in pursuit of enhanced fuel security, Sonangol plans to increase refining capacity to 445,000 bpd through the development of three new facilities – set to complement the operational 65,000 bpd Luanda refinery. The first of these – the first phase of the 60,000 bpd Cabinda refinery – is coming online in 2025, while Sonangol is currently seeking $4.8 billion to address the funding shortfall for the Lobito refinery – a 200,000 bpd facility under construction. A 100,000-bpd facility is also planned in Soyo. The Cabinda facility alone is anticipated to reduce Angola’s derivative imports by 14% by 2026.

Beyond these projects, Sonangol has committed to strengthening skills development across the Angolan oil and gas sector. The company signed two agreements with Massachusetts Institute of Technology (MIT) in the United States (US) in June 2025, aimed at supporting the development of Angola’s natural and mineral resources by leveraging US research, innovation and technology. The first agreement was signed with MIT Industrial Liaison Program, enabling Sonangol to directly interact with MIT research areas to support projects across the energy, mining, engineering, construction and infrastructure industries. The second agreement, MIT Africa, will facilitate knowledge-exchange, staff training, joint research and academic mentoring. MIT Africa features two programs – Global Classroom and Global Teaching Labs – which allow Angolan educational institutions to collaborate with MIT. 

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

Source: APO

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The U.S. International Development Finance Corporation (DFC) approved two new investments for critical minerals projects in sub-Saharan Africa this month. The funding aims to accelerate economic development across the region while reinforcing US supply chains for minerals essential to the country’s defense, energy, security and advanced technology sectors. The investments will also drive infrastructure expansion, boost employment and increase export revenues for the African markets.

The announcement comes ahead of the upcoming African Mining Week (AMW) conference – Africa’s premier gathering for mining stakeholders. The event will showcase the role being played by U.S. institutions such as the DFC in enhancing US-Africa ties in mining and investment. AMW will feature a dedicated US-Africa Roundtable, connecting U.S. policymakers and institutional investors with African governments, project developers and stakeholders for partnership formation, deal signing and policy alignment.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

In the last two years, the DFC has been advancing US–Africa mining collaboration through a growing portfolio of investments, loans and technical assistance grants. Among these is the DFC’s $5 million funding package for Blencowe Resources, aimed at developing the Orom-Cross graphite project in Uganda. In July 2025, Blencowe received a $750,000 tranche as part of this commitment, following an earlier $500,000 disbursement in May. The final $250,000 payment will support the project’s definitive feasibility study. With a JORC Indicated and Inferred Resource of 24.5 million tons at 6.0% total graphite content, Orom-Cross is expected to operate for 21 years, contributing to Uganda’s economic transformation and in meeting growing global demand for battery-grade graphite.

Other recent DFC commitments include a $553 million loan for the Lobito Corridor, a project aimed at improving mineral transportation for Angola, Zambia and the Democratic Republic of Congo. The DFC also approved a $3.4 million technical assistance grant for the Longonjo Rare Earths Project in Angola, a $50 million equity investment in the Phalaborwa Rare Earths Project in South Africa and a $3.2 million grant for Chillerton’s green copper mining project in Kakosa, Zambia. In Tanzania, the DFC is also backing Kabanga Nickel Limited with a loan to support the development of one of Africa’s most significant nickel sulphide deposits.

With this growing investment footprint, the DFC continues to position itself as a key partner in unlocking Africa’s mineral potential while advancing US strategic interests. AMW 2025 will serve as a powerful platform to build on this momentum, facilitating collaboration, catalyzing new investments and reinforcing US-Africa partnerships in mineral development.

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

Source: APO

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has secured an inaugural Sustainability-Linked Term Loan Facility, marking a significant milestone in the Corporation’s innovative funding strategy and deepening its financial ties with the UAE.

The AED 937.50 million (US$255 million) facility reflects AFC’s commitment to use financial innovation tools to optimise funding for transformative infrastructure. Along with further expanding AFC’s geographical funding base, the transaction aligns future borrowing costs with measurable environmental outcomes through predefined Sustainability Performance Targets (SPTs). The structure allows AFC to benefit from reduced loan costs upon achieving key sustainability targets, signaling to investors and stakeholders the importance of environmental responsibility to its infrastructure investment mandate.

The loan facility was anchored by a syndicate of prominent UAE-based financial institutions. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Mashreqbank PSC, and the National Bank of Ras Al Khaimah (P.S.C.) acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs). Mashreqbank PSC additionally served as Global Coordinator and Documentation Agent, while First Abu Dhabi Bank PJSC acted as Sustainability Coordinator and Emirates NBD Bank (P.J.S.C.) acted as the Facility Agent.

“This facility represents a key milestone in AFC’s journey,” said Banji Fehintola, Executive Board Member & Head, Financial Services, AFC. “By tapping the UAE Dirham market and embedding sustainability performance into our funding terms, we are not only diversifying our funding sources but also aligning our financing strategy with our mission to catalyse infrastructure-driven economic growth and industrial development across Africa. This transaction is a testament to the strength of our partnerships in the UAE and our continued commitment to sustainable infrastructure development across Africa.”

This facility builds on AFC’s strong momentum in diversified and sustainable capital raising. Following a record US$1.16 billion syndicated loan in 2024, AFC debuted a US$500 million hybrid capital issuance and a US$400 million Murabaha facility in 2025. The Corporation also expanded its climate finance instruments – having issued a CHF150 million Green Bond in 2020, and in 2024, pioneering Green Shares with a US$30 million equity investment from the African Development Bank. These efforts complement AFC’s strategic stake in Lekela Power, through Infinity, forming Africa’s largest renewable energy platform with over 1 GW of clean power capacity, reaching 1.2 million homes and avoiding 7.9 million tonnes of CO₂ emissions annually.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

www.AfricaFC.org

Source: APO

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H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, received Ms. Reem Alabali-Radovan, Federal Minister for Economic Cooperation and Development of Germany, at the Government Headquarters in New Alamein City during her visit to the Arab Republic of Egypt, within the framework of strengthening bilateral economic cooperation between the two countries. The meeting comes as a follow-up to the fruitful discussions held during the 4th International Conference on Financing for Development (Ff4D) in Seville, Spain.

At the beginning of the meeting, H.E. Dr. Rania Al-Mashat welcomed the German Minister on her first visit to Egypt and wished her success in her mission in the new German government, emphasizing the Arab Republic of Egypt’s appreciation for for the Egyptian-German economic relations, which represent a strategic partnership that reflects the keenness to advancing mutual interests and promoting development efforts, whether through bilateral governmental partnership, German investments in Egypt, and development cooperation efforts, adding that this visit marks a milestone in the process of cooperation between the two countries and reflects the depth of bilateral relations and common vision towards achieving sustainable development and economic growth.

The two ministers discussed recent developments in Egyptian-German economic and investment relations, joint development projects, and explored new mechanisms for innovative financing, especially in light of the outcomes of the 4th International Conference on Financing for Development held in Seville, Spain, and the need for the international community to contribute more to financing development in developing countries and emerging economies. They also discussed the implementation of the European Investment Guarantee Mechanism (EFSD+), which comes in light of the Egypt-EU strategic partnership and contributes to increasing foreign direct investments to the local and foreign private sector in Egypt, in addition to the preparations for the convening of the 2025 Egyptian-German governmental negotiations.

The two sides also discussed the outcomes of the 4th International Conference on Financing for Development, noting the importance of implementing recommendations of the UN expert group report on addressing debt challenges in Global South countries, which included 11 outcomes, such as redirecting and replenishing existing resources from multilateral development banks and the IMF to enhance liquidity, adopting policies to extend maturities, financing debt buybacks, reducing debt servicing during crises, reforming the G20 Common Framework to include all middle-income countries, and updating IMF and World Bank debt sustainability analysis (DSA) to better reflect the situation of low- and middle-income countries, among other measures.

The Minister of Planning, Economic Development and International Cooperation also reviewed the key features of Egypt’s national narrative for economic development, which aims to achieve a structural transformation in the Egyptian economy towards tradable and exportable sectors by strengthening macroeconomic policies, encouraging foreign direct investment, promoting industrial development, and supporting labor market and employment policies, noting that Egyptian-German relations are reflected in achieving these objectives.

In this context, H.E. Dr. Al-Mashat praised the success of the Egyptian-German Debt Swap Program, where the Egyptian government succeeded in signing debt swap agreements with a total value of €340 million to finance various development projects across multiple sectors, including the new tranche of the debt swap program worth €100 million for the period 2024–2026, explaining that the program contributed  to using the local currency equivalents of debt repayments to implement development projects in various sectors, including education and technical education, social protection, health, improving renewable energy supply. Ongoing coordination is underway to allocate €50 million from the program to support the energy pillar of the “NWFE” program, financing part of the local component for connecting ACWA Power (1) and (2) wind farms, with a total capacity of 1,100 MW. She reaffirmed that the Egyptian-German Debt Swap Program is a successful model for promoting financing for development.

The discussion also touched on the Financial Cooperation Agreement between Egypt and Germany, which was signed on May 25, 2025, and includes a €118 million financing package in the form of concessional financing and financial contributions (complementary grants), and includes funding for the following projects: financial support for the Comprehensive Technical Education Initiative and the support for the establishment of 25 Egyptian Centers of Excellence. In the same context, the two sides also discussed the the status of the governmental negotiations to be held between the Egyptian and German sides at the end of this year, expressing their aspiration to enhance economic and development cooperation between the two governments, as well as allocating new financial contributions to finance development projects aimed at driving economic growth.

Furthermore, H.E. Dr. Al-Mashat pointed out that, In light of the success of the country platform for the “NWFE” program and the international community’s expansion of the concept of national platforms to mobilize investments, work is currently underway, in coordination with the Ministry of Industry, the European Bank for Reconstruction and Development, and other development partners, to launch the first national platform to mobilize financing and technical support for the industrial sector. This aligns with the national narrative for economic development to support the state’s efforts in localizing industry and encouraging domestic production, noting that the narrative sets a unified vision for the Egyptian economy to shift towards tradable sectors.

H.E. also highlighted the importance of strengthening South-South cooperation and triangular cooperation through German collaboration to stimulate efforts to transfer Egyptian expertise in the field of development to developing and emerging countries, noting Egypt’s keenness to advance the prospects of joint cooperation in the field of water within the “NWFE” program with the German side.

For her part, the German Minister expressed her aspiration to build on the Egyptian-German strategic relations and the progress achieved in recent years to further advance joint cooperation in light of regional and global challenges.

In the same context, the two sides addressed the Egyptian-German economic cooperation portfolio, which currently amounts to approximately €1.6 billion, aiming to implement various development projects across priority sectors that contribute to sustainable economic development including energy, climate, water supply, sanitation, irrigation, migration, solid waste management, and enhancing the competitiveness of the private sector, which are funded through multiple mechanisms, such as the Egyptian-German Debt Swap Program, concessional financing, financial contributions, and technical cooperation grants.

Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

Source: APO

Angolan logistics and supply chain management company Cabship has joined the African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 in Cape Town – as a Silver Partner. As the largest event of its kind on the continent, AEW: Invest in African Energies unites the entire African energy sector and its value chain, from upstream operators to technology and service providers to infrastructure developers and logistics firms. Cabship’s participation reflects a broader commitment to supporting African oil and gas projects through enhanced logistics and infrastructure development.

Celebrating 16 years of operations in 2025, Cabship has emerged as a strong logistics partner for oil and gas companies in Angola – sub-Saharan Africa’s second largest oil producer. The company is committed to enhancing the Angolan logistics value chain through infrastructure developments, modernized solutions and strong ties with international energy companies. With digitalization and diversification at the fore, the company works closely with operators in Angola as they strive to enhance crude production, diversify the energy industry through non-associated gas developments and scale-up energy exports and regional distribution.

Recent projects spearheaded by Cabship reflect this commitment. Notably, the company has bolstered its infrastructure in recent years under efforts to streamline oil and gas trade and storage. The company is looking at acquiring 50,000 m² construction yard near Malongo in Cabinda, which will enhance fabrication and logistics capabilities in both Cabinda and Soyo in Angola. Cabship is also in the process of establishing a diving and offshore marine support company in the Cabinda Special Economic Zone in partnership with maritime services provider Octomar. An agreement was signed between the companies in 2023. As of late-2024, the partners were finalizing key infrastructure plans and advancing discussions to acquire the requisite assets for marine and diving operations. The newly established marine company will play a strategic part in supporting offshore oil and gas operations, particularly as Angola plans to award new offshore concessions in the planned 2025 licensing round. 

Cabship has a strong track record of working with a range of international operators in Angola. The company has provided a range of support services for upstream operators, including energy major Chevron and international energy company Azule Energy – some of the biggest operators in the country. Services include critical logistics and material management. Additionally, Cabship conducted comprehensive inventory audits for Etu Energies – Angola’s largest private oil company. The audit has significantly improved the reliability, availability and efficiency of Etu Energias’ inventory management.

Beyond Angola, Cabship is working at strengthening its global ties. The company has expanded its presence in the global landscape, recently opening an office in Houston in the United States. The Houston division will support the company’s procurement activities in Angola, providing a crucial link between the African nation and Houston – considered the world’s oil and gas hub. Specifically, the office will aid Chevron’s operations across the southern African region, thereby supporting new investments and upstream operations. Stepping into this picture, Cabship’s participation at AEW: Invest in African Energies 2025 will support future collaborations and global partnerships. As the company seeks to expand its presence, taking Angolan expertise worldwide, AEW: Invest in African Energies 2025 will serve as a catalyst for global connections.

“Cabship is a company that is committed to Africa’s oil and gas future. By enhancing its logistics and upstream service offerings, working closely with international operators and leveraging global partnerships to strengthen procurement, the company is positioning Africa as a key destination for oil and gas development. Angolan oil production will be driven by companies across the logistics sector, with Cabship at the fore,” states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. 

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO – Report:

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President John Dramani Mahama was in Agavedzi on Saturday for a groundbreaking ceremony for the second phase of the Blekusu Coastal Protection Project.

The project, a significant initiative that will protect lives and livelihoods in the Ketu South Municipality of the Volta Region, was met with palpable joy and deep gratitude from the chiefs and people of the Some and Aflao Traditional Areas, who gathered to witness the realisation of a long-awaited development.

The ceremony saw an emotional outpouring of appreciation, as community members sang praises and danced, celebrating the President’s commitment to addressing their decades-long struggle against severe tidal erosion.

Upon completion in four years, the project, which will protect an 8-kilometre stretch of coastline, is set to bring immense relief to the communities of Blekusu, Agavedzi, Salakope, Amutsinu, and Adina.

Messrs Amandi Holding Limited is the contractor and will deliver 37 groins, extensive dune restoration, reinforced embankments, and other critical shoreline defence structures.

President Mahama stated that the project is a comprehensive one that will extend beyond mere coastal protection.

“Aside from the coastal protection works, government has incorporated vital development projects to enhance the lives of the people in the affected area,” he noted.

These integrated initiatives include a modern fish market, cold storage and processing facilities for fisherfolk, dedicated spaces for fish drying and smoking, a car park, and a lorry station. Additionally, public sanitation facilities and a comprehensive waste collection system will be provided.

“The sea has taken a lot from this community. It has taken land, it has taken livelihoods, and it has taken our peace of mind. But today, I stand here to say no more will the sea consume our land”, the President said.

“We are here to reclaim what has been lost, to rebuild stronger, to offer our children a future where they are not forced to flee their homes because of rising tidal waves.”

President Mahama added that the Blekusu Coastal Protection Project and other ongoing infrastructure developments reflect his government’s strong dedication to building a better Ghana.

“This is not merely symbolic,” he asserted, “but a clear demonstration of what responsive leadership can do when it listens, when it cares, and when it acts.”

Phase I of the project, covering 4.3 kilometres of coastal defence works, commenced in 2015 under the Presidency of Mahama to mitigate the serious threat of tidal erosion in Ketu South.

While that phase offered significant relief, the President lamented, “Unfortunately, for nearly a decade after this, the second phase of the project stalled. Despite repeated appeals by residents, Members of Parliament, traditional authorities, and civil society, the project did not commence.”

The President specifically referenced the devastating tidal waves that pounded the communities in 2017 and again in 2021, recalling the harrowing images.

I can still picture the videos and photos showing the aftermath of these tidal waves,” he said, highlighting “the pain, the anxiety, the fear that was etched on the faces of our fellow citizens.”

He reaffirmed the pledge he made earlier this year during his visit to the Volta Region, promising swift action.

“And today, I am proud to say that this commitment is being fulfilled. Your cries have not been in vain. Your voices will no longer be ignored. Today is your day – a day of renewal and a day of reassurance.”

President Mahama also announced progress on the West Africa Coastal Areas (WACA) Programme, designed to enhance coastal resilience across the sub-region.

Currently awaiting approval, the WACA project is envisioned to extend coastal protection from where the Blekusu project ends, all the way to Aflao, securing Ghana’s vital 550-kilometre coastline, which supports countless livelihoods through fishing, trade, and tourism.

– on behalf of The Presidency, Republic of Ghana.