Category: MIL-OSI

Source: APO

Angolan National Oil Company Sonangol is advancing plans for an initial public offering (IPO) while expanding its upstream portfolio and investing in Angola’s domestic refining capacity, as the national oil company charts its next phase of growth following its 50th anniversary in 2026. Speaking at the opening ceremony of African Energy Week (AEW) 2026, Executive Board Member Osvaldo Inácio reaffirmed the company’s commitment to privatization, alongside efforts to increase production, progress new developments and translate Angola’s oil and gas resources into broader economic growth.

“We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares. We are doing the internal work required to make sure that when we get to that point, it’s a successful story,” he said.

Sonangol’s 50th anniversary comes as Angola’s NOC develops opportunities across exploration, producing assets and domestic processing. Its next investment phase requires capital and technical partners to turn appraisal results into developments while delivering refinery infrastructure and expanding the value retained from Angola’s oil and gas production.

“We are thinking about what the next 50 years will be like, focusing on producing to transform. We are not only looking at managing resources but how we translate those resources into overall development in the country,” he said.

Sonangol’s September account of its Katambi-2 work in Block 24 described a completed formation test in a non-associated gas reservoir, providing further evidence for assessment of the field’s development potential. In its producing portfolio, the company and its partners also reported approximately 100 meters of net oil pay at PAC 416 in Block 3/05, as part of a program intended to increase operated production. The results give Sonangol a technical basis for future investment, while appraisal, development design and commercial arrangements remain necessary steps.

“If you look at our portfolio, we have both operated and non-operated assets. The focus is on making sure we are doing everything we can to make sure those assets are still producing at the highest rate possible. New developments such as Block 3/05 are advancing. We are also part of Kaminho with TotalEnergies,” Inácio shared.

Downstream, Angola’s government reported in September that the Lobito refinery was approximately 26% physically complete, with around $1.6 billion invested and completion envisaged for 2029. A potential petrochemical complex was under study. Alongside Cabinda’s initial 30,000-bpd refining phase, Lobito gives Sonangol’s diversification program a concrete industrial focus, with financing, construction progress and product marketing central to the next stage.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

The African Energy Chamber (AEC) (https://EnergyChamber.org/) and S&P Global Energy have signed a memorandum of understanding renewing their official partnership for the African Energy Week (AEW) conference and exhibition for five years, through the 2031 edition, establishing a long-term relationship around the continent’s energy investment platform.

The agreement was signed during the opening ceremony of AEW 2026 in Cape Town by Christian Nilsson, Chief Commercial Officer of S&P Global Energy, and NJ Ayuk, Executive Chairman of the AEC. It formalizes a partnership between one of the world’s leading market intelligence and research firms and Africa’s biggest energy conference, laying the foundation for long-term engagement and collaboration. The partnership is also set to produce a new State of Energy in Africa report, with findings to be shared at the conclusion of AEW 2026.

S&P Global Energy provides market intelligence, data and analysis across energy and commodities. Its work supports commercial decisions on supply, demand, pricing and investment, which are areas relevant to African companies seeking capital and international investors assessing opportunities across the continent.

The partnership comes as African energy markets seek investment across upstream development, gas infrastructure, electricity generation, refining and industrial processing. Access to market information helps investors assess project economics, compare opportunities and understand the conditions influencing long-term returns.

“Africa competes for capital against every other region in the world, and the countries that win will be the ones that can show investors the numbers,” said Ayuk. “S&P Global Energy brings analytical rigor to AEW. Locking in this partnership through 2031 means the governments and companies that come to Cape Town will keep getting world-class data insights alongside the deals being signed on our stages.”

Considered Africa’s premier energy marketplace, AEW brings project owners and prospective partners together through investment forums, country spotlights, technical discussions, an exhibition and commercial meetings. The event program spans oil and gas, power, energy finance and emerging technologies, connecting policy discussions with the requirements of companies developing and funding projects.

The five-year agreement establishes a sustained relationship between the AEC and S&P Global Energy as AEW continues to connect African energy opportunities with global capital and expertise.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Ghana’s offshore sector is shifting from license negotiations to new drilling and long-term development, with Minister of Energy and Green Transition John Abdulai Jinapor announcing at African Energy Week (AEW) 2026 that national crude oil production has increased by 30%. The milestone reverses five years of sustained decline and follows a $2 billion memorandum of understanding signed with Jubilee partner Kosmos Energy in 2025.

The Jubilee and TEN agreement – covering license extensions to 2040 – kickstarted a development campaign targeting incremental investment and higher volumes of affordable gas for domestic power generation, with an amended Jubilee development plan covering up to 20 additional wells.

“Since then, we have started work and have transformed that into a tangible agreement. We have approved the plan of development, with real work commencing. All this is measured in terms of volumes in oil output. We have seen a continued systematic decline in oil output over the past five years. But this year, I am happy to announce that oil production has increased by about 30%,” Minister Jinapor said in the AEW 2026 opening fireside chat.

Kosmos’s August results reported that the Jubilee partnership was seeking a rig for a 2027–2028 campaign of up to ten wells, expected to start in mid-2027. Jubilee averaged approximately 72,000 barrels per day gross in the second quarter, with J76 and J77 coming online in June and July, respectively. The company also retained a $350 million group capital expenditure budget for 2026, placing Ghana’s next drilling phase within a wider effort to increase output, control costs and reduce debt.

Beyond crude output, the 2025 agreement connects a longer investment horizon with national supply priorities, specifically strengthening gas supply for domestic markets. Speaking alongside Minister Jinapor, Andy Inglis, CEO, Kosmos Energy, explained that the agreement “aligned the needs of the country with what we can bring as an investors. Extending the license gave us the confidence to invest, particularly in technology.”

Inglis added that it also enabled Kosmos to focus on gas supplies. “As we deal with energy security, it also comes down to energy affordability. We agreed to supply low-cost gas to the country.”

Frameworks such as this provide a benchmark for other operators as Ghana seeks to attract new investment across its upstream sector. Minister Jinapor said “we are trying to make the sector more attractive and mutually beneficial. We are working together and building trust. We already have agreements with Chevron and are working with Shell and CNOOC. We are confident that we will see an uptick [in investments].”

These discussions are in advanced stages. Minister Jinapor said: “We are reforming our fiscal regime, making it more competitive and friendly. I have approved my portion and the minister of finance has approved his. Next week are going to cabinet and then we will go to parliament. We will sign the agreement with Chevron once we have received parliamentary approval. We have had a good meeting with Petrobras and are looking at closing a deal.”

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

The finals of the 2026 ExxonMobil Foundation STEM Africa Challenge we’re held on during African Energy Week 2026 in Cape Town on Monday where finalists from Angola, Mozambique, Namibia and Nigeria pitched their science, technology, engineering and mathematics-driven projects and prototypes to a panel of judges.

The 16 finalists were selected from an initial pool of approximately 10,000 African high school students, competing in online STEM quizzes, in-person Zonal Competitions and National STEM Innovation Camps, where the students were challenged to think creatively and develop solutions to solve real-world challenges being faced across the continent.

ExxonMobil and the ExxonMobil Foundation have collectively spent $1.6 billion since 2000 in support of education in the areas in which ExxonMobil operates throughout the world, helping to refill the pipeline of engineers and scientists through STEM education for the next generation.

“We cannot do this work without really strong implementing partners in each of our countries,” Alvin Abraham, President of the ExxonMobil Foundation said, thanking each of the partners for their commitment to increasing STEM education in their respective countries, as well as ExxonMobil volunteers and employees who helped the students with their projects.

2026 solutions

Team Ixietu from Angola tackled an issue central to food security and developed an AI-powered soil analysis system to help farmers collect data on their soil fertility, with the aim of improving soil quality and improving agricultural productivity.

The solution addresses the challenges of low soil fertility and limited soil analysis. By placing a sampling stake into the soil, soil data is collected that is then fed into an AI powered soil analysis app that generates customised technical soil correction and remedial recommendations for farmers. This solution is aimed at enhancing food security, introduce precision agriculture, increase agricultural productivity.

Team Nexora Nexus from Nigeria addressed one of Africa’s most pressing development challenges – access to reliable electricity. The team’s Solar Hydro Smart Grid is a renewable energy solution designed to provide reliable, uninterrupted and affordable energy to under-served communities in Nigeria.

The solution uses solar power to store solar energy as pumped water, as well as store excess solar power in a battery. A solar powered pump, pumps water from a lower level storage tank to an elevated storage tank. When power is needed, water is released from the elevated tank and flows through a turbine, which drives a generator to produce electricity. The system is integrated with AI and a smart meter to determine when grid power switches off and power is needed. This provides clean power with less money spent on fuel.

Team Mentes Brilhantes from Mozambique presented its Eco Carteiras solutions aimed promoting a circular economy by overcoming with two challenges, namely Mozambique’s high volume of uncollected plastic waste and a significant shortage of school furniture.

The Eco Carteiras solutions aims at using collected high-density polyethylene and polypropylene plastic waste, together with discarded sawdust to manufacture eco-friendly school desks and chairs that is resistant to water and termites. The two plastic were chosen as they do not release toxic gasses when heated while the use of discarded sawdust does not require the use of new wood.

Meanwhile, the team from Namibia presented the AquaVolt water harvesting and purification technology to address the challenge of water scarcity in communities in Namibia facing a flood/drought paradox.

AquaVolt aims to provide water during times when it is scarce by harvesting floodwater during the rainy season. Once the floodwater is harvested using gravity fed channels, it undergoes primary treatment before being stored in smart tanks fitted with sensors and a smart monitoring system. The water then undergoes secondary treatment if needed to meet water quality standards before being distributed to communal water taps during the dry season.

The winner will be announced at the African Energy Week Gala Dinner on 13 October, 2026.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Angola’s Etu Energias has signed a Master Agreement with Chariot and BW Energy covering technical and financial collaboration. The agreement aims to support Etu Energias’ growth strategy in Angola and reflects a shared ambition between the parties to build a long-term and growing relationship for the benefit of all stakeholders.

The agreement was signed during the opening ceremony of African Energy Week 2026 by Edson Dos Santos, CEO of Etu Energias; Duncan Wallace, CTO and Board Member of Chariot; and Ali Athar, Senior Vice President of Finance and Accounting at BW Energy. It demonstrates continued confidence in Angola’s upstream sector as well as the capacity of the country’s indigenous companies. Etu Energias, Angola’s first private oil and gas exploration company, has grown production to 25,000 bpd within five years and is targeting 100,000 bpd by 2030. The agreement aims to improve access to commercial solutions and capital with the goal of supporting long-term sector development.

The signing follows a framework agreement announced by Chariot on September 1 between Etu Energias, BW Energy and Chariot to support Etu’s acquisition of Chevron’s additional 31% interest in Angola’s Block 14 and 15.5% interest in Block 14K. The partnership established a basis for technical and operational support as Etu seeks to assume operatorship of Block 14, with Shell Western Supply and Trading providing the acquisition debt funding.

For Etu Energias, the transaction supports its ambition to expand production and operating capacity in Angola. Already a stakeholder in the licenses, the company brings knowledge of the assets, while BW Energy and Chariot contribute complementary technical expertise.

For BW Energy, the framework marks a strategic entry into Angola and an extension of its West African growth strategy. An August company announcement identified opportunities to develop nearby reservoirs through connections to existing infrastructure, optimize production and reduce operating costs. BW Energy’s support gives it economic exposure to future cash flows corresponding to approximately 8,000 bpd, subject to completion and applicable approvals.

For Chariot, the September agreement adds economic exposure equivalent to approximately 4,000 bpd in return for services and support. Shell Western Supply and Trading’s role centers on acquisition financing. The company will provide all acquisition debt funding required at completion of the Chevron transaction.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Verdant Capital (www.Verdant-Cap.com) is pleased to announce the opening of its new office in Nairobi, Kenya, marking an important step in the continued expansion of the firm’s presence and capabilities across East Africa.

The Nairobi office strengthens Verdant’s ability to work closely with businesses, investors and financial institutions across the region, bringing the firm’s Pan-African corporate finance and investment expertise closer to an increasingly dynamic East African market. The expansion is accompanied by the appointment of Sajan Shah, CFA, as Director for East Africa. Sajan joins Verdant IMAP with approximately a decade of experience in investment banking, having built and led deal advisory teams, most recently at BDO East Africa and gained experience on both sides of the capital spectrum, including as a private credit investor, at Cygnum. Sajan adds to Verdant’s already extensive experience in the region and relations on the ground.

Verdant already has an impressable track record in the investment banking in the East Africa region with league table positions as per DealMakers East Africa in the top three, consistently in the last five years.  Verdant has current mandates in East Africa across multiple sectors:  financial services, technology, mining, logistics, renewable energy and real estate, cutting across all the different solutions Verdant provides clients, including sell-side M&A, debt restructuring, equity raising, debt raising, streaming and offtakes.  Verdant Capital Hybrid Fund is also active in region with four investment located in or operating in the region.  Verdant have current mandates in six countries in the region. 

The establishment of the Nairobi office reflects Verdant’s broader Pan-African approach; combining international transaction expertise with strong local market knowledge and relationships. The firm operates across multiple African markets and specialises in private credit, private equity and corporate finance, including mergers and acquisitions, capital raising and strategic advisory. The Nairobi office will further support Verdant IMAP’s ability to connect regional businesses with local and international sources of capital, while providing clients with access to the firm’s broader Pan-African and international network.

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries:
Verdant IMAP:
Orient Mahonisi
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com

About Verdant IMAP: 
Verdant IMAP is a leading pan-African investment bank specialising in mergers and acquisitions (M&A) and private capital markets. Combining international investment banking experience with a deep understanding of local markets, Verdant IMAP helps clients access global capital and strategic partnerships to drive growth and transformation across the continent. Verdant IMAP has extensive experience in the Metals & Mining sector in Africa.  Verdant IMAP is the IMAP partner firm for its region. IMAP, established in 1973, is a global M&A partnership with over 600 professionals across 51 countries and completing around 300 transactions per year is consistently ranked among the top 5 advisors worldwide for mid-market transactions. www.Verdant-Cap.com

Source: APO

Education in emergencies is a right, not an option. This was the message from Mr. Nelson Sifuna, Education Secretary, Directorate of Field Coordination and Co-Curricular Activities, as he welcomed delegates to the first Inter-Agency Network for Education in Emergencies (INEE) Conference held in Africa. The Ministry of Education co-hosted the conference with the University of Nairobi and INEE.

Speaking on behalf of the State Department for Basic Education, Mr. Sifuna called for stronger local leadership, predictable long-term financing, inclusion of refugee and displaced learners in national systems, better support for teachers and greater accountability among partners.

Success, he said, must be measured by children who are safe, in school and learning, not by the number of programmes or meetings. He urged stakeholders to move from commitments to measurable action so that no child’s future is decided by the crisis into which they are born.

Distributed by APO Group on behalf of Ministry of Education, Kenya.

Source: APO

The Principal Secretary, State Department for Basic Education, John Ololtuaa, CBS, today led education leaders in the Ministry of Education during the Public Sector Hearing on the FY 2027/28 and Medium-Term Expenditure Framework (MTEF) Budget at the Kenyatta International Convention Centre (KICC), Nairobi.

As Chair of the Education Sector Working Group, PS Ololtuaa joined the representatives of TSC Chief Executive Officer and the Principal Secretaries for Higher Education; Technical, Vocational Education and Training; and Science, Research and Innovation in presenting the sector’s budget proposals for the coming financial year and the medium term.

Organised by the National Treasury under Article 201(a) of the Constitution, the hearings give Sector Working Groups an opportunity to present their budget proposals and receive feedback from stakeholders and members of the public, which supports openness, accountability and public participation in public finance. PS noted that the education sector budget making process is an open one and all geared to ensure that the resources are rationalized to optimize the positive learning outcomes for the Kenyan child. 

The PS was accompanied by heads of directorates and departments of the State Department for Basic Education.

Distributed by APO Group on behalf of Ministry of Education, Kenya.