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  • Stears Announced as Lead Sponsor of AFSIC – Investing in Africa 2023

    Empowering Africa-Focused Investments with Data-Driven Insights

    LONDON,United Kingdom,July 25,2023–Stears, one of the world’s leading providers of African data and insights, has been announced as the Lead Sponsor of AFSIC – Investing in Africa 2023. AFSIC 2023, Africa’s Investment Event, which will be held in London on the 9th and 10th October 2023, is the meeting place for focused networking, discussions and executing African investment deals. It has for the past ten years delivered year on year growth as well as success for African companies seeking funding and companies wanting to grow globally.

    Stears’ sponsorship of AFSIC – Investing in Africa 2023 reflects its commitment to promoting investment opportunities in Africa, driving capital inflows and increasing the ease of doing business for investors. The conference allows attendees to discover new investment opportunities, forge valuable business partnerships, and exchange critical insights on the African market.

    “We are thrilled to be the lead sponsor of AFSIC – Investing in Africa 2023”, stated Preston Ideh, CEO of Stears. “Stears is committed to fostering an environment where African investors can thrive. Our sponsorship of AFSIC aligns perfectly with our mission to provide reliable and actionable intelligence to global decision-makers interested in Africa. Through this partnership, we aim to enable more quick, accurate decisions for both financial and operational opportunities on the continent.”

    Stears’ deep expertise with African data and AFSIC’s prestigious platform will create an environment where Africa-focused conversations and connections can flourish. The conference will provide a unique opportunity for investors to learn about the latest trends in the African market and network with leading industry figures.

    Stears join a growing group of prestigious sponsors who are supporting AFSIC 2023 as they celebrate their tenth anniversary and the commitment of so many underlines the importance of AFSIC’s continued focus on driving investment into Africa.  Country-focused investment summits, high level networking, investor meetings and industry relevant content are just some of the sessions that AFSIC 2023 will deliver, once again supported by many of Africa’s most important investors, Prosper Africa, a wide range of Development Finance Institutions, and leading African corporate executives.

    For more information visit our website www.afsic.net.

    About Stears:

    For global organisations investing in African markets, Stears is the data and insights provider that enables quick, accurate decisions for financial and operational opportunities. Stears customers access raw data from various sources, trend data for a wide range of data sets, and constantly updated analysis by researchers. Unlike other providers, Stears goes beyond just data to provide insights and context based on knowledge of local markets and delivers it all in an easy-to-use interface usable by anyone.

    About AFSIC – Investing in Africa:

    AFSIC – Investing in Africa has become perhaps Africa’s most important annual investment event. The event is owned by Africa Events Limited. AFSIC is wholly focused on accelerating Africa’s economic emergence by matching investment opportunities in Africa transforming Africa’s business, trade and investment environment, growing Africa’s economy, reducing poverty, and increasing African incomes in all business sectors at a continental scale across all 54 countries in Africa.

    African Investments Limited (www.africaninvestments.co), a sister company to Africa Events Limited, operates two multi award-winning digital platforms, the AFSIC African Investments Dashboard which matches investment opportunities to our global network of institutional investors and the Africa Business Opportunities Dashboard, which matches business, trade and investment opportunities across Africa covering all business products, sectors, countries in Africa and multiple business objectives. The digital platforms won the global 2022 Salesforce Partner Innovation Award for Financial Services.

    Resources:

    www.afsic.net

    www.africaninvestments.co

  • Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

    Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

    Speaking during the Invest in African Energy Reception in London, Afreximbank’s Global Head of Client Relations, Rene Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda
    LONDON, United Kingdom, January 27, 2023/ — The Invest in African Energy Reception (https://AECWeek.com/news/) kicked off in London with opening remarks by African Energy Chamber Executive Chairman, NJ Ayuk, and Rystad Energy Co-Founder and Chief Analyst, Per Magnus Nysveen, followed by an opening address delivered by Rene Awambeng, Global Head of Client Relations at the African Export-Import Bank – a partner of the event. During his address, Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda.

    Firstly, Awambeng emphasized that Africa only accounts for less than 3% of global emissions, and therefore should be recognized as not the cause of excessive carbon, but rather, the victims of climate change. At the same time, considering the many oil-dependent economies in Africa, with GDP measuring as high as 25% for some, the continent should be able to establish a sensible plan for a just and fair transition.

    “We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing. The transition to green energy must be sensible, pragmatic and rational. It must recognize the enormity of the continent’s unmet economic development aspirations, the necessity to take urgent actions to address its ever-widening development gap and the continent’s vulnerability to climate change,” Awambeng stated.

    As such, Awambeng detailed a strategy towards a just and inclusive transition. Key aspects include supporting the implementation of the African Continental Free Trade Agreement (AfCFTA) to reduce emissions associated with shipping, moving away from exporting raw minerals that support the green economy and scaling up domestic value chains; enhancing foreign capital to finance the just transition and establishing African-based financing mechanisms to support industry growth.

    “We must give ourselves a breather to use the natural resources at our disposal to urgently deliver our development needs and simultaneously deploy these to promote investments in green energy. We must proactively and collectively intensify our efforts to implement the AfCFTA, as it is a clear path to mitigating carbon emissions while sustaining lives and livelihoods. We must all support the creation of the Africa Energy Transition Bank so that the continent can take control of its own future. We must back the African Energy Chamber (https://EnergyChamber.org/) so that it can intensify its thought leadership on this subject and ensure that Africa’s voice is heard as loudly as possible on issues that matter to us regarding energy.”

    Meanwhile, Awambeng emphasized the need to take urgent action to address the development gap in Africa and the continent’s vulnerability to climate change. In addition to energy investment, focus needs to be placed on climate investment, with the continent requiring up to $277 billion per annum to combat climate change. With Africa currently receiving less than $28 billion of the required funds, Awambeng urged the developed world to honor its commitments to climate financing and incentivized African stakeholders to create their own mechanisms and instruments to honor such commitments.

    “Afreximbank is supporting the promotion of a number of such innovative instruments and programs that can catalyze global finance and help close the funding gap for the necessary climate action while not sacrificing the development priorities of the continent. The Liquidity and Sustainability Facility represents one such innovative instrument…Initially launched by UNECA at COP26 in Glasgow, we expect to conclude the first deal in the course of this conference, to be fully funded by the Afreximbank.”

    In closing, Awambeng reiterated the need for a just transition in Africa, one that prioritizes carbon emission reduction and economic growth, simultaneously.

    “While decarbonization is at the center of the global climate agenda, it is evident that Africa, which has hardly carbonized, cannot contribute much to decarbonization. Africa’s priority is to find the money to fight poverty and fund mitigation and adaptation investments.”

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber

    Distributed by :APO Group

  • Nigeria’s Petroleum Minister Timipre Sylva to Engage investors at Invest in African Energy Reception in London

    Nigeria’s Petroleum Minister Timipre Sylva to Engage investors at Invest in African Energy Reception in London

    Timipre Sylva, the Minister of State for Petroleum Resources of Nigeria, will be attending the African Energy Chamber-organized Invest in African Energy Reception in London on January 26.

    The African Energy Chamber (AEC) is proud to announce that Timipre Sylva, Minister of State for Petroleum Resources of Nigeria, will lead investment-focused dialogue during the Invest in African Energy Reception set to take place in London on January 26. With the Nigerian energy market on the precipice of another transformation on the back of diversification and market-driven policy implementation, the participation of Minister Sylva is key for securing new capital for Nigeria’s rapidly growing market, while enabling new players and financiers to expand their footprint in one of Africa’s biggest oil producing countries.

    Nigeria has emerged as one of the most attractive destinations for foreign investment owing largely to the signing into law of the Petroleum Industry Act in 2021. With the Act having overhauled the country’s regulation and governance, addressing key growth inhibitors by prioritizing transparency, procedural clarity and attractive fiscal terms for regional and international players, the Nigerian energy market is more enabling for business than ever, and the Minister will showcase opportunities in the sector during the Invest in African Energy Reception in London.

    The Act itself has already unlocked tangible benefits, with the country positioning itself as the biggest oil producer in Africa in 2023, despite a year of production declines owing to challenges associated with oil theft and reduced exploration. With the state-owned company, the Nigerian National Petroleum Corporation identifying and shutting down an illegal pipeline responsible for the loss of up to 600,000 barrels per day (bpd) of crude oil, production has rapidly increased to approximately 1.2 million bpd in December 2022, setting the country up for an exciting year in 2023. The country is more ambitious than ever when it comes to expanding the oil and gas market even further, with the government incentivizing E&P activity in a bid to boost production levels further. As such, opportunities for upstream players have opened up and Minister Sylva will be making a strong case for hydrocarbon exploration during the reception in London.

    Opportunities in the oil industry, over 200 trillion cubic feet (tcf) of proven natural gas reserves – and opportunities to increase this figure to 600 tcf with advancements in exploration – have positioned the country as the destination of choice for financiers and project developers from across the natural gas landscape. At a time when global markets are urgently seeking alternative gas supplies in light of ongoing supply constraints, Nigerian gas has emerged as a top solution, and investors are encouraged to capitalize on the opportunities present across this rapidly growing market.

    However, Nigeria’s oil and gas market opportunities transcend exports, with the country well-positioned to feed into regional supply chains. Having signed a deal with Equatorial Guinea that would see Nigerian gas being processed at the country’s Punta Europa facilities while making steady progress to complete the Trans-Saharan Gas Pipeline and breaking ground of new project developments, Nigeria is opening new opportunities for electrification and industrialization in Africa on the back of intra-African gas trade, made possible through initiatives such as the African Continental Free Trade Agreement and the progressing Central African Pipeline System.

    “Through his participation at the Invest in African Energy Reception in London – taking place in partnership with the African Export-Import Bank and Rystad Energy – Minister Sylva has made clear his commitment to securing new capital for a suite of large-scale projects across the entire energy value chain in Nigeria. During the event, the Minister will be driving market-focused dialogue on why investing in Nigeria is so critical, both for the African economy and for the global energy market at large. The London event provides financiers and energy players with the unique opportunity to directly engage and connect with a leading government representative from the biggest oil producer in Africa, and the AEC is encouraging all of those interested in expanding their footprint in Africa to join us at this high-level event,” states NJ Ayuk, Executive Chairman of the AEC.

    Source; Africa Energy  Chamber 
    Editor’s Note(Published unedited)