Category: English

Source: APO – Report:

Sosthène Nguema Nguema, Minister of Oil & Gas of Gabon, has joined the African Energy Week (AEW): Invest in African Energies conference to discuss the country’s strategic shift towards deepwater exploration. Taking place September 29 to October 3 in Cape Town, the event represents the largest of its kind on the continent and serves as the platform of choice for global operators, financiers and service providers. Minister Nguema’s participation reflects the country’s drive to work with global partners to unlock greater value from Gabon’s oil and gas sector and is expected to create new opportunities for collaboration and investment.  

With over two billion barrels of proven oil reserves and significant gas potential, Gabon seeks to increase national oil production to upwards of 220,000 barrels per day (bpd) in the short to medium term. To achieve this goal, the country is promoting fresh investment across undeveloped acreage, notably deepwater basins, which offer significant upside potential. Deepwater exploration and production will not only generate significant returns for operators but support the country’s economic growth objectives. To entice deepwater investment, Ministry of Oil & Gas is leveraging policy reform to create a more competitive business environment for foreign operators. Following the implementation of the Hydrocarbon Code in 2019, the new government has sought to strengthen fiscal terms and regulations even further. Upcoming amendments are geared towards foreign capital and will significantly improve Gabon’s business climate.  

AEW: Invest in African Energies 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 http://www.AECWeek.com for more information about this exciting event. 

Beyond new investments, Gabon continues to drive a series of ambitious oil and gas projects. At the forefront of this is independent energy company Perenco’s Cap Lopez LNG terminal – situated at the existing Cap Lopez oil terminal. The $2 billion development will introduce a FLNG vessel to the market, designed to monetize the country’s offshore gas reserves and reduce gas flaring. The FLNG unit features 700,000 tons of LNG and 25,000 tons of LPG, with storage capacity of 137,000 cubic meters. Production is slated for 2026, setting the country up for accelerated energy growth and diversification. Beyond Cap Lopez, Perenco’s Gabonese projects seek to bolster national oil and gas production. The company continues to expand its upstream footprint with the commissioning of the Kombi 2 platform on the Kombi- -Likalala-Libondo II permit. Currently under construction by Dixstone at the Nieuwdorp shipyard in the Netherlands, the platform is scheduled to depart in October and enter into operation offshore Pointe-Noire by early next year.  

In addition to Perenco, other companies are also driving ambitious projects. Notably, BW Energy signed production sharing contracts for exploration blocks Niosi Marin and Guduma Marin in 2024, covering an eight-year exploration period with a two-year extension option. The company – alongside its partner VAALCO Energy – plans to spud a well while carrying out a 3D seismic campaign. BW Energy also has stakes in the Dussafu license, which features 14 producing wells tied back to a FPSO through a 20km pipeline. Meanwhile, China’s CNOOC launched wildcat drilling on Blocks BC-9 and BCD-10 in early-2023 on the back of 1.4 billion barrels of recoverable resource potential. The state-owned Gabon Oil Company (GOC) is also ramping up its investments. The company acquired Tullow Oil’s entire Gabonese portfolio for a sum of $300 million, a transaction that includes 10,000 bpd in production and 36 million barrels of proven reserves. GOC is committed to enhancing oil production through partnerships with international operators and strategic investments in exploration and production.  

Minister Nguema’s participation at AEW: Invest in African Energies 2025 will serve to advance the country’s oil and gas industry goals. During the event, he is expected to share insights into the country’s exploration and production landscape, highlighting upcoming investment opportunities and areas of collaboration. Through his participation, operators will gain first-hand insight into the country’s oil and gas sector.  

“Gabon is implementing a strategic development agenda, aimed at unlocking greater resources from the country’s oil and gas industry. By focusing on deepwater acreage, working closely with international partners and committing to enhanced production flows, the country is creating a wealth of opportunities for both companies and entrepreneurs,” states Verner Ayukegba, Senior Vice Price President, African Energy Chamber.  

– on behalf of African Energy Chamber.

Source: APO

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The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing US$10 million to Telecel Global Services Ltd, through a senior secured amortising loan. The transaction marks a significant milestone in the operationalisation of the Fund.

The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund, established by the AfCFTA Secretariat and African Export-Import Bank (Afreximbank) to provide targeted  transitional support to AfCFTA State Parties  and private sector entities as they adjust to the requirements and opportunities presented by the AfCFTA Agreement.

Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecom operators across Africa and globally. With digital connectivity being at the heart of the trade and economic integration and success of the AfCFTA, this facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through enhanced connectivity and digital inclusion. By investing in digital infrastructure in underserved markets, the Fund is helping reduce trade barriers, foster cross-boarder productivity and accelerate  inclusive industrialisation.

Mr. Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund Corporation, stated: “ The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA. This US$10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact—accelerating digital connectivity, enabling intra-African trade, and supporting private sector-led development in priority sectors. It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.”

H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noted: “This transaction demonstrates how the AfCFTA Adjustment Fund is beginning to serve its intended purpose – supporting State Parties and the private sector as we work to make this Agreement commercially meaningful. By investing in digital infrastructure, we are addressing some of the most critical enablers of trade facilitation, industrialisation, and regional value chain development.”

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, added: “Today, we make another bold statement of our unwavering intent to ensure that Africans reap the benefits of the African Continental Free Trade Agreement. We are proud to have commenced the operationalisation of the Credit Fund. With this Fund, we will provide vital support to African corporates, helping them retool and expand their operations necessary to capitalise on the AfCFTA opportunities. The investment strengthens a critical enabler, the digital economy and regional connectivity, while reinforcing our long-term commitment to transforming the structure of the African economy. .”

Marlene Ngoyi, CEO, FEDA, the Fund Manager of the AfCFTA Adjustment Fund, said: “This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation. We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.”

The Credit Fund will continue to prioritise commercially viable investments that enable trade, support diversification, and promote inclusive growth in line with the broader AfCFTA implementation agenda.

Distributed by APO Group on behalf of Afreximbank.

About the AfCFTA Adjustment Fund:
The AfCFTA Adjustment Fund consists of three sub-Funds namely, the Base Fund, the General Fund, and the Credit Fund. The Base Fund will utilise contributions from AfCFTA State Parties as well as grants and technical assistance to address tariff revenue losses that would result from the implementation of the AfCFTA Agreement. The General Fund will finance the development of trade enabling infrastructure while the Credit Fund will be used to mobilise commercial funding to support both the public and private sectors enabling them to adjust and take advantage of the opportunities created by the AfCFTA.

 About the African Continental Free Trade Area (AfCFTA):
The African Continental Free Trade Area (AfCFTA) is one of the flagship projects of Agenda 2063: “The Africa We Want” and entered into force on 30 May 2019. It is a high ambition trade Agreement, which aims to bring together all 55 Member States of the African Union, covering a market of more than 1.3 billion people, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all services sectors of Africa’s economy, at a potential of 52.3 percent.

About FEDA:
The Fund for Export Development in Africa (“FEDA”) is the impacting investing subsidiary of Afreximbank, 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.

Source: APO

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As Africa moves to fully harness its coal and uranium resources for economic growth, major shifts in the global financing landscape in 2025 are set to unlock new opportunities across the continent. In June, international finance institution The World Bank lifted its ban on financing nuclear projects – marking its re-entry into the nuclear value chain for the first time since 1965. In May, the U.S. export agency the Export-Import Bank of the United States (EXIM) ended its 12-year restriction on funding international coal projects.

Coal, uranium and investment market trends will take center stage at the upcoming African Mining Week (AMW) 2025 – Africa’s premier gathering for mining stakeholders – taking place on October 1 – 3 in Cape Town. The event will feature high-level panel discussions, project showcases and exclusive networking sessions, showcasing how global capital and African leadership are aligning to unlock the potential of coal and uranium value chains for sustainable development.

Africa’s coal sector has seen notable progress in 2025. In March, South Africa’s Seriti Resources launched the R500 million Naudesbank Colliery in Mpumalanga Province, producing one million tons annually in its first phase. The launch reinforces South Africa’s role as the continent’s leading coal producer. Concurrently, mining company Menar is advancing several coal and anthracite projects with a R7 billion investment plan through 2026, including the Bekezela and Sukuma mines in South Africa’s Gauteng province. The initiatives align with South Africa’s decision to classify coal as a critical mineral due to its economic and strategic importance. Ethiopia is also ramping up exploration, with coal reserves now estimated to exceed one billion tons. At AMW, a panel titled Coal’s Indispensable Role: Powering Africa’s Downstream Processing and Manufacturing Boom will showcase policies and incentives being used by African markets to attract investments across the coal value chain.

On the uranium front, the World Bank’s ban reversal offers renewed access to international financing – creating a pathway for expansion in Africa’s uranium-rich countries. Several projects have gained momentum in 2025. Lotus Resources is progressing with its 3-million-pound-per-year Letlhakane Uranium Project in Botswana, as well as the Kayelekera Mine in Malawi. In Tanzania, Moab Minerals secured a $500,000 investment from European Lithium for its Manyoni Uranium Project. Meanwhile, GoviEx Uranium is advancing development of its Muntanga Project in Zambia, with an expected annual output of 2.2 million pounds. Additionally, countries including Namibia, Mali, Ghana, Senegal, the Republic of Congo and Kenya have signed agreements to develop nuclear energy programs, underlining Africa’s growing focus to leverage its vast uranium resources for energy resilience. The continent’s biggest uranium producers Niger and Namibia also have several new and expansion projects underway.

These milestones represent a new era of investment potential across Africa’s coal and uranium industries, with African Mining Week 2025 serving as a key platform for governments, investors and industry stakeholders to collaborate and catalyze long-term growth.

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

About African Mining Week:
African Mining Week 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.

Source: APO

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The parliamentary leadership of Sierra Leone’s two main political parties, the ruling Sierra Leone People’s Party (SLPP) and the opposition All People’s Congress (APC), paid a joint courtesy call on His Excellency President Dr Julius Maada Bio at State House to formally congratulate him on his recent election as Chairman of the ECOWAS Authority of Heads of State and Government.

The visitors were introduced by Chief Minister Dr David Moinina Sengeh, who explained that the Members of Parliament had come to express their appreciation for the President’s efforts in elevating Sierra Leone’s image on the international stage through his new leadership role in the sub-regional body.

Hon. Matthew Sahr Nyuma, Majority Leader and Leader of Government Business in Parliament, thanked President Bio for granting the audience. He disclosed that the joint visit followed internal consultations between SLPP and APC parliamentary leadership, who unanimously agreed to formally congratulate the President on his election.

Hon. Nyuma underscored the collaborative relationship between the Executive and the Legislature and appealed for more regular engagements with the President, not only on constitutional grounds, but also in recognition of the strong working relationship that currently exists between Parliament and the Executive.

Speaking on behalf of the opposition APC, Hon. Abdul Kargbo congratulated President Bio for the international recognition and praised him for entrusting leadership roles to young people. “We are proud as a nation of your achievement. As Members of Parliament, we recognise our roles, but we remain open and committed to the development of Sierra Leone,” he said.

He noted that all government bills that have been tabled in Parliament and were in the national interest have been passed expeditiously. He attributed this to teamwork, political maturity, and shared patriotism, which have contributed to a relatively calm and productive parliamentary environment.

In his response, President Julius Maada Bio thanked the SLPP and APC parliamentary leadership for their gesture, describing it as a demonstration of patriotism, unity, and national solidarity. “Your coming together, across party lines, to congratulate me on my ECOWAS leadership shows maturity and a common commitment to Sierra Leone,” he remarked.

President Bio reiterated that his successes were not personal achievements but national victories. “What we’ve accomplished is not about me, it is about Sierra Leone. These milestones reflect the work we are all doing together,” he said.

He expressed appreciation for the oversight role played by the opposition, acknowledging that constructive criticism helps sharpen governance and reinforces the democratic process. “Your critical voice in Parliament keeps us accountable, especially on national development, peace, and cohesion.”

President Bio encouraged Members of Parliament to continue leveraging their collective strength to advance national development. “We are smart people. With diverse views from different political parties, we can take bold, effective decisions to keep development at the center of our national agenda.”

He called for a readjustment of political ideologies towards cooperation and mutual respect, citing the importance of reducing political tension and promoting development-focused dialogue. The President proposed a national dialogue to define a long-term development agenda that every future administration would prioritize for the country’s benefit.

President Bio concluded by expressing gratitude for the visit and the congratulatory message from the Parliament.

Distributed by APO Group on behalf of State House Sierra Leone.

Source: APO

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President Cyril Ramaphosa has noted the correspondence from President Donald Trump on the unilateral imposition of a 30% trade tariff against South Africa. The President has further noted that South Africa is one of a number of countries to have received this communication on 7 July 2025. 

This 30% tariff is based on a particular interpretation of the balance of trade between South Africa and the United States. This contested interpretation forms part of the issues under consideration by the negotiating teams from South Africa and the United States. Accordingly, South Africa maintains that the 30% reciprocal tariff is not an accurate representation of available trade data. In our interpretation of the available trade data,  the average tariff imported goods entering South Africa stands at 7.6%. Importantly, 56% of goods enter South Africa at 0% most favoured nation tariff, with 77% of US goods entering the South African market under the 0% duty.

South Africa will continue with its diplomatic efforts towards a more balanced and mutually beneficial trade relationship with the United States. We welcome the commitment by the US government, that the 30% tariff is subject to modification at the back of the conclusion of our negotiations with the United States. 

South Africa has continued to engage the United States, most recently at a meeting held on the side-lines of the US-Africa Summit on 23 June 2025 in Luanda. It was at this meeting where South Africa learned of  a template with which the US wishes to engage sub-Saharan Africa on matters of trade. The South African negotiating team still awaits this template, however, President Ramaphosa has instructed the team urgently engage with the US on the basis of the Framework Deal that South Africa submitted to the US on 20 May 2025. This Framework deal addresses the issues initially raised by the US, including South Africa’s supposed trade surplus, unfair trade practices and lack of reciprocity from the US.

The President urges government trade negotiations teams and South African companies to accelerate their diversification efforts in order to promote better resilience in both global supply chains and the South African economy.

Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.