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Category: AFRICA

  • Afreximbank announces $1-billion African Film Fund

    Afreximbank announces $1-billion African Film Fund

    CAIRO, Egypt, November 10, 2023/ — The African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is working on the establishment of a $1-billion African Film Fund to be launched in 2024 to support the continent’s film industry, Kanayo Awani, Executive Vice President, Intra-African Trade Bank, at Afreximbank, announced in Cairo today.

    Addressing the opening of the 2023 CANEX Summit held as part of the third Intra-African Trade Fair (IATF2023), Mrs. Awani said that the fund would oversee film financing, co-finance with large studios, finance African filmmakers and finance producers and directors of film projects across the continent.

    She noted that during CANEX WKND 2022, the Bank had increased the financing it was making available to the creative sector from US$500 million to US$1 billion and that the Bank currently had a pipeline of over US$600 million in film, music, visual arts, fashion, and sports deal.

    “The very first film we financed recently premiered at the Toronto Film Festival,” Mrs. Awani said, adding, “The Bank has several in the pipeline from Nigeria, South Africa, and Kenya, which should be on streaming platforms in 2024.”

    Acknowledging that the film and audiovisual industries in Africa accounted for US$5 billion of the continent’s GDP and employed an estimated five million people, with the potential to create over 20 million jobs and generate US$20 billion in revenues annually, Mrs. Awani noted that the sector faced several challenges, including limited access to financing and copyright infringement due to weak copyright laws, enforcement mechanisms and a lack of awareness.

    The sector was also confronted with infrastructure and technology gaps, lack of capacity and shortage of skilled professionals and limited market access and international exposure, as a result of which African creative and cultural products often struggle to gain exposure and access to international markets.

    Earlier, Boris Kodjoe, a celebrity actor of Ghanaian descent, highlighted how the creativity of Africans had influenced various aspects of modern life, including music, fashion, art, design, social consciousness, business, sports, film and TV. He said that the exploitation of black creativity by the West had had lasting effects and that, despite admiration of black excellence, Africa still faced branding challenges due to external perception fuelled by the traditional media’s depiction of poverty, famine, civil wars and migration on the continent.

    Mr. Kodjoe said that the world craved culturally specific global content and that Africa was a key player in meeting that demand. With the continent’s young population and high connectivity, studios, networks, promoters and brands were investing in solutions to reach diverse audiences. Films and TV shows with diversity performed better than others by 30 per cent and Afrobeats was taking over global airwaves. By 2030, Africa was projected to produce up to 10 per cent of global creative goods export worth roughly $200 billion or four per cent of Africa’s GDP.

    Also speaking, H.E. Albert M. Muchanga, Commissioner for Trade and Industry of the African Union Commission, said that the creative sector in Africa was rapidly growing and making a significant contribution to the inclusive growth and sustainable development of African economies.

    “I reaffirm my belief that the African creative industry has huge potential to be a source of employment and revenue to create the Africa we want – revenue from intra-African trade as well as revenue from the rest of the world.”

    Ambassador Muchanga urged African nations to convert their vast potential into plans and projects that yield tangible results, stressing the need to also invest in protecting international property rights.

    CANEX is an Afreximbank initiative to support Africa and the African Diaspora’s creative and cultural industries by providing financing and non-financing instruments to boost growth. The seven-day CANEX Summit is intended to further develop conversations and provide additional business-to-business and business-to-government opportunities. It includes a fashion show featuring a range of bold and exciting designs from across Africa and the Diaspora and a CANEX Music Factory, hosted by renowned South African producer Oskido, which will provide songwriters and beat makers with the opportunity to record their work.

    Creative Africa Nexus (CANEX) programme set up by Afreximbank seeks to facilitate the development and growth of the creative and cultural industries in Africa and the diaspora. The programme provides a range of financing and non-financing instruments and interventions aimed at supporting trade and investment in Africa’s creative sector.
    IATF2023, Africa’s largest trade and investment fair opened on 9th November and will run till 15th November 2023.

    Distributed by APO Group on behalf of Afreximbank.
    Media contact:
    Deborah Ross
    Senior PR Account Director
    BrandComms
    +44 (0) 759 3602 128
    ​deborah.ross@brandcommsgroup.com
  • President Ramkalawan addresses the First Saudi- African Summit

    President Ramkalawan addresses the First Saudi- African Summit

    10 November 2023 | Foreign Affairs

    Riyadh, Friday 10th November: Seychelles alongside other African nations participated in the first Saudi- African Summit being held in Riyad, Saudi Arabia.
    President Wavel Ramkalawan who is currently leading the Seychelles delegation at the summit, addressed the summit during the African Heads of State speech segment.
    Delivering his statement President Ramkalawan commended His Majesty the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince of the Kingdom of Saudi Arabia for organising the First Saudi-African Summit.
    “This summit, under the theme of “Productive Partnership”, signifies a pivotal shift in the Africa-Saudi partnership. Hence, as leaders, let us embrace this opportunity, engage in meaningful dialogue, and address specific issues to reinforce the vital connections between our nations.  This is a mission that we should pursue together, as equal partners.
    The Kingdom of Saudi Arabia is a strong and trusted partner on which African countries can rely on the shaping of our respective national industries and in enhancing the investment climate by exploring together various areas of cooperation.”
    He highlighted the African Continental Free Trade Agreement, Business-to-business engagements in core sectors and the Investment and Empowerment of Women and the Youth as some of the most promising avenues for the Saudi-Africa partnership.
    “Seychelles appreciates the unfailing support of Saudi Arabia in various sectors, especially through the Saudi Fund for Development. As the Chairperson of the African Island States Climate Commission, I wish to highlight, once again, the negative effects of the climate crisis on Seychelles and other African coastal nations, which extends to food security and socio-economic challenges across the entire continent and beyond.
    The President further emphasized the need to act together as partners and to take bolder actions to address these critical matters, including the adoption of a Multidimensional Vulnerability Index (MVI), which will take into consideration the vulnerabilities of Small Island Developing States and not solely GDP per Capita as a measurement for the level of development.
    “We look to Saudi Arabia to play a broader role in smaller African countries like Seychelles, in building more resilient and productive food systems that will support food security. Furthermore, Seychelles is keen to engage with Saudi Arabia and other African States in sharing experience and know-how on the effective management of our Exclusive Economic Zone of 1.3 million square kilometres, through maritime security, research and development, and innovative policies to combat Illegal Unreported Unregulated fishing, along with addressing illicit drug trafficking.
    President Ramkalwam also spoke about the ongoing crisis in Gaza and Israel as a grave tragedy and a matter of utmost concern for all.
    “Seychelles firmly condemns all attacks on civilians in Palestine as in Israel. We call for an end to those indiscriminate attacks, an immediate cessation of hostilities, and a return to the negotiating table. We also reaffirm our support for a two-state solution, which is the only way forward to lasting peace in the region.”
    In concluding, the President called on fellow African Heads of State and Government and partners present to use the outcome of this very first Summit to maximise own capacities for a healthier and long-term productive partnership between Saudi Arabia and Africa.
    On the margins of the summit, Seychelles and Saudi Arabia also signed the General Cooperation Agreement. The signing of the General Cooperation Agreement between the Governments of Seychelles and the Kingdom of Saudi Arabia marks a significant step towards greater cooperation and connectivity between the two peoples. This agreement also acts as an umbrella agreement that will permit for an enhancement of bilateral cooperation across a diverse range of areas and sectors.
    Other members of the Seychelles delegation attending the summit included the Minister for Tourism and Foreign Affairs, Mr Sylvestre Radegonde, the Ambassador of the Embassy of Seychelles in Abu Dhabi, Amb. Gervais Moumou and Third Secretary Bilateral Affairs Division, Mr James Carpin.
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  • PHOTO NEWS RELEASE: Africa Investment Forum: Rugby Africa President Calls for Investment in the Excellence of Africa

    PHOTO NEWS RELEASE: Africa Investment Forum: Rugby Africa President Calls for Investment in the Excellence of Africa

    MARRAKECH, Morocco, November 10, 2023/APO Group/ –Herbert Mensah, the newly elected President of Rugby Africa (www.RugbyAfrique.com), the continental governing body for rugby in Africa, participated in a one-to-one fireside chat at the 2023 Africa Investment Forum (AIF) on Thursday, November 10 in Marrakech, Morocco. Championed by the African Development Bank and seven other founding partners (Africa50, Africa Finance Corporation, Afreximbank, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and Trade and Development Bank), the Africa Investment Forum is Africa’s investment marketplace to accelerate transactions to close Africa’s investment gaps.

    In the discussion, Rugby Africa President encouraged the investment of sport across Africa, emphasizing the importance of investment opportunities emerging from the continent itself.

    Read the full press release: https://apo-opa.co/3FV6pXA

    Read more information about the Africa Investment Forum: www.AfricaInvestmentForum.com

    Distributed by APO Group on behalf of Rugby Africa.

    Media contact:
    Nicole Vervelde
    Communications Advisor to the President of Rugby Africa
    rugby@apo-opa.com

  • Powerlist Awards of Black Personality Excellence in the UK

    Powerlist Awards of Black Personality Excellence in the UK

    By: Mohammed A. Abu

    Joshua Siaw MBE who is of Ghanaian and British nationality and also a partner to White & Chase, UK, has been recognized by Powerlist 2024 as the sixth most influential Black person in the UK and the most influential in law.

    This is the ninth consecutive year that he has been named to the Powerful Media’s publication which honors the 100 most influential Black people in Britain from a variety of industries, including law, business, academia, technology, sports and the arts.

    Siaw, the youngest person on the Powerlist 2024 Top 10, joins other influential public leaders such as Editor-in-Chief of British Vogue Edward Enninful OBE, Bank of England CFO Afua Kyei and politician and activist Baron Woolley of Woodford..

    From 2016 to present, Josh was named among Britain’s 100 most influential Black people by the Powerlist.

    This year’s winners were selected for their “ability to positively alter events and change lives as demonstrated over a reasonable period of time” by an independent panel of judges.

    “It is a privilege to have been highly ranked by the Powerlist. I am proud to be recognized alongside other influential role models whose leadership, achievements and community impact are an inspiration to people in the UK and abroad,” said Siaw.

    Siaw as a Partner in White & Case’s Global Debt Finance Practice and director of the Firm’s Africa practice, Josh advises corporates, governments, banks and other financial institutions on some of the most ground breaking transaction across the region and makes him one of the most powerful commercial lawyers on the continent.

    Additionally, he has begun his term as Co-Chair of the African Investors Group to which he was appointed in January, 2023.This group is responsible for steering and increasing the GBP15 billion worth of trade between the continent and the UK.

    As a member of the Advisory Board of the African Investment Summit, Joshua is overseeing the UK Prime Minister’s upcoming Africa Investment Summit which will take place in London in 2024.

    The Summit will bring together heads of States from 24 African countries with British and African business leaders, creating a platform to further boost trade and investments between the UK and Africa

    Joshua has not always rubbed  shoulders with Africa’s elite of Ghanaian descent, he grew up in one of South London’s most deprived areas and went to an inner-city state school. “It was quite challenging and my secondary school, at that time we had one of the worst records in the UK”, he said.

    Therefore, launching the Siaw Foundation which provide academic scholarships and mentoring to disadvantaged students across the UK and Africa from Secondary through to university, holds a deep personal a deep personal significance”, Joshua intimated.

    He is also an Ambassador for Mothers2Mothers(M2M), an NGO that employs women living with HIV in Africa as community health workers. Joshua as appointed MBE in 2020.

    Honours from Non-Powerlist Sources

    Marquis

    He has also been listed in Marquis Who’s Who in the World 2016, 2017, 2018, 2019 and 2020 which features the most accomplished men and women from around the globe.

    Euromoney

    Joshua has been identified by Euromoney as “one of Africa’s Rising Stars,” the publication’s list of individuals and power brokers who are transforming the financial, investment and business landscape in Africa.

    Forbes

    Joshua has been named by Forbes as “one of Africa’s most influential young business leaders.”

    African Union

    Joshua has also been named a “Young Business Leader of the Year” by the African Union, and leading Africa-focused business publication

    Africa Report

    The Africa Report has recognized Joshua as “one of three individuals shaping Africa’s economic future.”

    Major Honourable Engagements Track Record

    He was selected in 2018 as the only lawyer to join Prime Minister Theresa May on her trade mission to Africa.

    In 2019, he was appointed a Member of the Most Excellent Order of the British Empire by Her Majesty Queen Elizabeth II in recognition of his services to the law, UK legal services and his contribution to UK trade and investment in Africa.

    He is a member of the Global Britain Sub-Group of the UK Board of Trade and the UK government’s Africa Green Growth Advisory Council.

    In 2018,he  was selected as the only lawyer to join Prime Minister Theresa May on her trade mission to Africa.

    In November 2018, Joshua was appointed as a member of the UK-Africa FinTech Investment Group, following the UK Prime Minister’s announcement of the formation of the UK-Africa FinTech Partnership.

    In June 2019, Joshua was appointed to the Global Britain Sub Group of the UK Board of Trade, promoting the UK’s global trade and investment agenda with a focus on Africa.

    In June 2019, Josh was appointed a member of the Most Excellent Order of the British Empire (MBE) by Her Majesty The Queen in the Queen’s Birthday Honours 2019. He was recognized for his services to the law, UK legal services, and for his contribution to UK trade and investment in Africa.

    In January 2020, following the announcement by Prime Minister Boris Johnson of the formation of the UK Africa Investors Group (“AIG”), he was appointed as a member of the AIG chaired by Her Majesty’s trade commissioner for Africa.

    In April 2021, he was appointed to the U.K. Government’s Africa Green Growth Advisory Council which promotes sustainable economic development between the U.K. and Africa.

    In 2021, Joshua was also appointed to the Advisory Council of the Queen’s Green Canopy Initiative which was recently established by His Royal Highness, The Prince of Wales (as Patron) to mark Her Majesty’s Platinum Jubilee in 2022.

    The Powerlist is an annual publication that was first published in 2007 in a bid to provide professional role models for young people of African and Caribbean heritage.

    Since then it has brought a number of people to prominence who were hitherto unknown and has created a network for influencers many of whom now have commercial relationship with one another and some of whom have become friends. The publication is rebranding Black Britain in many ways..

  • Appointment of the Board of Seychelles Communications Regulatory Authority

    Appointment of the Board of Seychelles Communications Regulatory Authority

    08 November 2023 | Information Communications Technology

    The Office of the President has today announced the appointment of the Board of the Seychelles Communications Regulatory Authority, this is in accordance with Section 148 (1) and Section 148 (5) of the Communications Act, 2023.

    The Authority is responsible for the implementation and enforcement of the Communications Act 2023 and assumes the regulatory function carried out thus far by the Department of ICT (DICT) in the telecommunications & broadcasting sectors. DICT retains the policy portfolio responsibility for telecommunications and broadcasting.

    Mr Joyvani Chetty has been appointed as the Chairperson and Mr James Jean as the Vice-Chairperson

    The other Board Members are:

    Mrs Natalie Edmond                               Member

    Mr Brian Hoareau                                   Member

    Mr Lawrence Kamugisha                       Member

    Ms Beryl Payet                                       Member

    Ms Franca Sicobo                                  Member

    The Board Members have been appointed for a for a 3-year period effective from the 1st November, 2023

    SOURCE

    State Hows News

     

     

  • TTH-Pace4life Join Hands for Historic Pacemaker Insertion Surgery in Northern Ghana

    TTH-Pace4life Join Hands for Historic Pacemaker Insertion Surgery in Northern Ghana

    A team of cardiologists from Columbus, Ohio. in the United States of America and their Ghanaian counterparts at the  Teaching  (TTH),in Ghana’s Northern region, have performed three successful  at the hospital.

    A pacemaker insertion is the implantation of a small electronic device that is usually placed in the chest – just below the collarbone – to help regulate slow electrical problems with the heart.

    The historic surgery is a partnership between the  and Pace4life

    The team comprised of Cardiologists, Anaesthestics, Radiology technicians and scrub .

    Leader of the team from Columbus Ohio, Dr. Kamel Addo told 3news.com that the procedure was to implant the pacemaker device and also provide a platform to share knowledge with the TTH team.

    “This is also to provide a training, teaching and transfer of knowledge to the hardworking staff of the hospital here in northern Ghana and that I think is very important,” Dr Addo sai

    “This is the first of its kind and I know once we are successful in this, we will look at its sustainability with the hospital to save more of the lives here.”

    Head of Cardiology at the Tamale Teaching Hospital, Dr. Abdul-Subulr Yakubu expressed gratitude to Pace4life and the team from the  for the sponsorship and surgeries.

    “Before this surgery, we lost four patients recently, because they could not afford the surgeries and so this intervention is life saving.

    “The poverty levels here is serious and so interventions like these are highly recommended. This is why the hospital and the Cardiology Unit and our patients will forever be grateful to Pace4Life and the team led by Dr Addo.”

    In all, three patients including a 94-year-old woman successfully went through the procedure.

    SOURCE

    3News.com

     

     

  • Africa Day for Food and Nutrition Security: Zambian Vice President underscores role of grey matter infrastructure development

    Africa Day for Food and Nutrition Security: Zambian Vice President underscores role of grey matter infrastructure development

    LUSAKA, Zambia, November 7, 2023/ — African Leaders for Nutrition (ALN), a platform for high-level political engagement to advance nutrition in Africa, has joined two crucial forums for advancing policy dialogue on agriculture and nutrition in Africa.

    ALN representatives attended the commemoration the 14th Africa Day for Food and Nutrition Security (ADFNS) and 19th Comprehensive Africa Agriculture Development Programme (CAADP) Partnership Platform (PP).

    These platforms are crucial forums for advancing policy dialogue on agriculture and nutrition in Africa. The African Union Commission and its economic development agency AUDA-NEPAD jointly convened the 19th CAADP event to emphasize the interconnectedness of agriculture, nutrition, and trade.

    Hosted by the government of Zambia from the 30th of October to the 2nd of November 2023 in Lusaka Zambia, the two events were held under the theme: “Accelerating the implementation of the African Continental Free Trade Area Agreement in the context of CAADP Commitments for Safer and Healthier Diets”. This builds on the African Union’s 2023 Year Theme – “Accelerating the implementation of the African Continental Free Trade Area (AfCFTA)”.

    In her keynote remarks during the opening, Zambian Vice-President Mutale Nalumango called for urgent action to address hunger and malnutrition in Africa to help advance the continent’s socio-economic transformation.

    “Human Capital investment starts with good nutrition,” Vice President Nalumango said.

    The AU’s Commissioner of Agriculture, Josepha SACKO, highlighted the prevalence of hunger on the continent, saying around 280 million people, or one out of five people, face hunger on the continent.

    She advocated for a non-conventional approach to address inefficiencies in the food system to provide access to nutritious and safe food for all. Noting that food businesses account for 75% of inter-Africa trade, she said adopting a single market under the African Continental Free Trade Area will boost trade, alleviate poverty, and improve nutritious food supplies.

    Further reiterating the nexus between trade and nutrition, Ambassador Minata Samate Cessouma, African Union Commissioner for Health, Humanitarian Affairs and Social Development, said: “The African Continental Free Trade Area agreement is a game-changer for the continent, offering the opportunity to promote economic growth, boost intra-African trade, and improve food security and nutrition.”

    Similar sentiments were shared by the African Union Special Envoy on Food Systems, Dr Ibrahim Mayaki. He advocated for farmers producing about 80% of the food in Africa to be at the centre of an ‘agriculture revolution’ to reduce the continent’s current food import bill of about 60 billion dollars annually.

    He stressed: “We need to re-think our approach to long-term planning. To plan for the long-term, we need to plan in the short-term; that is why the short-term goal of regional integration is crucial – many of our long-term goals depend highly on that”.

    African Leaders for Nutrition co-hosted one of the sub-themes on financing agri-food and nutrition on the 1st of November to explore the role of the private sector in financing and advancing agri-food and nutrition initiatives in Africa. This aligns with the African Development Bank’s drive to make private sector development one of its key priorities for reducing poverty and supporting sustainable growth on the continent through improved investment.

    In his opening remarks at the side event, African Leaders for Nutrition Coordinator George Ouma said, “We need a paradigm shift that opens space and opportunities for actors within the food and nutrition security ecosystem. We need the private sector to drive that change through innovations, investment, and strategic partnerships.”

    More than 300 participants from African Union member states, regional economic communities, continental bodies, United Nations agencies, development partners, academic and think tanks, civil society, and the private sector, attended the four-day session.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media contact:
    Natalie Nkembuh
    Communication and External Relations
    |media@afdb.org

    SOURCE
    African Development Bank Group (AfDB)
  • Climate Justice and Just Societal Transition to Green Economy gets Major Boost

    Climate Justice and Just Societal Transition to Green Economy gets Major Boost

    Prof. Chukwumerije Okereke has been elected Fellow of The World Academy of Sciences for the advancement of science in developing countries (UNESCO-TWAS) in recognition of his outstanding contribution to science and its promotion in the developing world.

    The Nigeria born Okereke is a Professor in Global Governance and Public Policy in the School for Policy Studies, Bristol University, UK, and Director for the Centre for Climate Change and Development, Alex Ekwueme Federal University Ndufu-Alike, Nigeria.

    He is a globally recognised leading scholar on global climate governance and international development with specialism on the justice dimensions of the international climate regime and just societal transitions to the green economy.

    Okereke has a strong track record of cutting-edge and high-impact research focused on understanding and addressing systemic barriers to economic and social inclusion in the context of climate policy and green economy transitions,

    He has made significant contributions to scholarship on several areas such as: (i) understanding how different conceptions of justice influence global climate governance and the implications for climate-resilient sustainable development in developing countries; (ii) advancing the theory of theory of climate governance through his various works that focus on the activities of non-nation state actors in climate governance; and (iii) advancing knowledge and practice of climate governance and green growth transitions in Africa where his work has had a far-reaching impact on public policy and practice across the continent.

    He also worked with a diverse array of stakeholders to mobilise research to shape climate governance in Africa including drafting a climate change law in Nigeria, modelling Nigeria’s long-term low-carbon development strategy, designing African Unions’ Adaptation Initiative, and drafting the first ever national green growth plan in Africa, for the Government of Rwanda.

    Professor Okereke’s academic merit and international research leadership status is affirmed through his leadership roles in multiple high-profile global Scientist Assessment Projects and networks including as Coordinating Lead Author, of the United Nations Intergovernmental Panel on Climate Change (IPCC) Working Group III Sixth Assessment Report.

    He is a visiting professor at London School of Economics and Senior Academic Visitor at the University of Oxford.

    He is also a leading member of the Global Earth Commission’s Safe and Just Transformation Working Group and Coordinator of African Forum Climate Change, Energy and Development (AFCEED) the leading African Network of scholars, policy makers and practitioners working on climate change and sustainability transitions in Africa.

    Commenting on the award, Okereke said: “I am delighted to have been elected Fellow of The World Academy of Sciences for the advancement of science in developing countries (UNESCO-TWAS).

    “It means a lot to me because I have always been driven by a desire to highlight the challenges faced by developing countries in addressing climate change while also pursuing economic growth as well as the opportunities to leverage climate action to build resilience and achieve economic growth.

    “Developing countries face multiple challenges related to colonial legacy and unjust international economic order which work to the advantage of advanced countries. I believe that approaching climate governance from the framework of justice enables us to tackle, not just the issue of climate pollution, but also the more fundamental question of global equity and fairness needed to ensure that everyone can lead a decent life regardless of where they are born.

    “I grew up in a very rural village in Old Eastern Nigeria. I played naked under the rain, swam and drank water from the brownish local river, went to school for the most time barefooted, studied under the big akparata tree in the local school, hunted rats and rabbits with my age-mates and sang with other children under the moonlight.

    “I experienced the joy of growing up in the natural environment and am passionate to see that economic development for all the good things it brings does not impose existential risk on our environment and the lives of people on the planet.

    “This recognition encourages me to continue to work as there is still quite a long way to go to achieve climate justice for the vulnerable countries of the world.”

    Okereke is among 47 Fellows elected by the Academy.

    SOURCE

    Centre for Climate Change & Development

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  • Africa Investment Forum welcomes Rugby Africa President to discuss the business of sport

    Africa Investment Forum welcomes Rugby Africa President to discuss the business of sport

    MARRAKECH, Morocco, November 6, 2023/ — The newly elected President of Rugby Africa (www.RugbyAfrique.com), the continental governing body for rugby in Africa, Mr Herbert Mensah, will discuss the business of sport in a one-to-one fireside chat at the 2023 Africa Investment Forum (AIF) (www.AfricaInvestmentForum.com) on Thursday, November 9 in Marrakech, Morocco.

    Championed by the African Development Bank and seven other founding partners (Africa50, Africa Finance Corporation, Afreximbank, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and Trade and Development Bank), the Africa Investment Forum is Africa’s investment marketplace to accelerate transactions to close Africa’s investment gaps.

    Founded in 2018, the Africa Investment Forum has mobilized nearly $143 billion in investment interest. The event brings together heads of state, business leaders, decision makers and investors to advance critical investment transactions to closure. Previous attendees include H.E Paul Kagame, President of the Republic of Rwanda, H.E Cyril Ramaphosa, President of the Republic of South Africa, and H.E Nana Akufo-Addo, President of the Republic of Ghana.

    The sports industry in Africa is experiencing rapid growth, with the potential to generate jobs, improve public health, foster social inclusion and drive economic growth. According to PricewaterhouseCoopers (PwC), the industry was valued at $7 billion in 2018 with an expected growth of $12 billion in 2027. Despite the potential, investment across Africa remains limited, with only 1% of startup financing directed towards the sport sector.

    Rugby Africa President, Herbert Mensah, continues to emphasize the business potential of rugby across Africa. Since his election, President Mensah has called for a change of mindset from African governments and international organizations to increase investment in rugby across Africa. In June, President Mensah delivered a keynote speech on treating rugby as a lucrative business venture at the Bloomberg New Economy Gateway Africa 2023 event in Marrakech, Morocco.

    Watch the video on the Bloomberg Website: https://apo-opa.info/466rOcr

    The annual three-day Africa Investment Forum Market Days event will commence on Wednesday November 8 to Friday November 10 under the theme “Unlocking Africa’s Value Chain” in Marrakech, Morocco.

    Read more information about the Africa Investment Forum: https://www.AfricaInvestmentForum.com/en

    Distributed by APO Group on behalf of Rugby Africa.

    Media contact:
    Nicole Vervelde
    Communications Advisor to the President of Rugby Africa
    rugby@apo-opa.com

  • Seismic Development Integral to Africa’s Energy Future, African Energy Chamber (AEC) Underscores during Houston Working Visit

    Seismic Development Integral to Africa’s Energy Future, African Energy Chamber (AEC) Underscores during Houston Working Visit

    JOHANNESBURG, South Africa, November 2, 2023/ — Accurate and up-to-date seismic data is the cornerstone of a thriving oil and gas industry. In Africa, geoscience companies take on a pivotal role, driving the success and efficiency of oil and gas projects by equipping countries and corporations with the precise tools needed to locate hydrocarbon deposits. Without the vital contributions of geoscience firms, Africa would be unable to fully unleash the vast potential of its oil and gas resources.

    The African Energy Chamber’s (AEC) working visit to Houston – currently underway – led by Executive Chairman NJ Ayuk, is promoting this very role, engaging with a suite of oil, gas and geoscience companies on the impact they have in Africa’s energy sector. Underpinning the visit is the belief that partnerships between geoscience companies and African governments are quintessential for the success of the burgeoning industry, and that opportunities for geoscience companies in Africa are just unfolding.

    During the visit, the AEC will meet with EnerGeo Alliance, a global trade association for the geoscience industry operating under the motto that, ‘Energy Starts Here.’ EnerGeo Alliance has long-been an important partner for Africa’s oil and gas sector, demonstrating time and time again a commitment to the continent’s hydrocarbon future. The meeting will unpack how geoscience companies, with the support of EnerGeo Alliance, can contribute to the success of Africa’s oil and gas sector. In addition, the meeting will focus on seismic development, and how African governments can support the activities of geoscience companies in untapped acreage.

    Holding up to 125 billion barrels of proven crude oil reserves and 620 trillion cubic feet (tcf) of natural gas, Africa is just beginning to understand the full scope of its oil and gas resources. Countries such as Nigeria, for example, with 200 tcf of proven gas resources, likely hold as much as 600 tcf. At the same time, countries such as Ivory Coast, the Democratic Republic of the Congo, Zimbabwe, Kenya and many more are yet to reveal their oil and gas reserves. Geoscience companies are the key for advancing exploration efforts, providing comprehensive understanding of Africa’s onshore and offshore hydrocarbon plays, and partnerships are what will underpin the very success of African oil and gas.

    Despite the central role geoscience companies have and continue to play in Africa, companies continue to face challenges, with environmental groups blocking both onshore and offshore operations. In South Africa, for example, energy companies continue to experience disruptions, with lobbyist organizations preventing the exploration of the Orange Basin – an area in which sizeable finds have been made on the Namibian side. At the same time, South Africa is in the midst of an energy crisis, and domestic oil and gas would prove a lifeline to the economy. As such, the geoscience community needs to be given the full support of Government, or untapped oil and gas resources will remain in the ground.

    The same can be said continent-wide, and the AEC working visit will underscore the need for stronger collaboration. Topics of discussion will include issues faced by the geoscience community such as strong partnerships; streamlined license approvals; and clear regulation. Additionally, with capacity building representing the very essence of energy and economic development, the meeting will highlight the imperative for training and skills development programs between government and National Oil Companies, as well as how scholarships, programs and mentorship can strengthen the geoscience industry.

    “The geoscience community will have a catalyzing role to play in Africa for many years to come. Africa’s oil and gas potential is only starting to be understood. Through seismic surveys, we can not only understand what lies beneath the continent’s ground and waters, but we can fast-track decision making to monetize resources. We see the seismic community continue to grow, with mergers such as between Norway’s TGS and Petroleum Geo-Services. This sends the right kind of message that the seismic community is committed to growth, and Africa should stand ready to welcome partners,” states Ayuk.

    During this year’s edition of the African Energy Week (AEW) conference in Cape Town, the role geoscience companies play in growing the African oil and gas market was a prominent point of discussion. Various panel discussions, technical presentations and forums drew attention to the need for further collaboration between geoscience players and African governments. The event also featured the inaugural African Farmout Forum, a platform created for striking deals through in-depth understanding of Africa’s upstream plays. However, there is still a lot more to be done, and both AEW and the AEC stand ready to support the growth and contribution of the global geoscience community.

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber