Africa’s premier energy event, African Energy Week (AEW), will be held from October 18-21, 2022, in Cape Town, and the African Export-Import Bank (Afreximbank) has confirmed that a strong delegation will attend the event to sign deals and forge partnerships while driving Africa-centric dialogue about the future of African energy.
Although there has been much discussion about how to pay for oil and gas projects in Africa, the African Energy Chamber (AEC) is unwavering in its belief that investing in the continent’s hydrocarbons is necessary to end the continent’s debilitating energy poverty by 2030. African-based organizations like the Afreximbank have remained dedicated to the people of Africa and the energy of Africa, even as international institutions begin to abandon fossil fuels in the name of climate change.
The Afreximbank’s commitment to Africa’s energy future is demonstrated by the bank’s continued partnership with the continent’s preeminent oil and gas industry event and the confirmation of a high-level delegation’s attendance at AEW 2022 in Cape Town.
Afreximbank, a pan-African financial services provider, has made it a priority to fund projects across the entire energy sector and value chain, opening the door to new collaborations and accelerating expansion across multiple industries in Africa.
To name just a few examples: a $500 million investment to aid South Sudan’s power transmission, infrastructure, and agriculture sectors; a $250 million credit to Trans Niger Oil and Gas to aid in the purchase of a 45% stake in the OML 17 onshore field; a $200 million loan facility agreement signed with the Egyptian General Petroleum Company to improve power generation and distribution; and $400 million in loans and guarantees to aid in Mozambique’s liquefied natu.
“Lack of international investment in Africa’s energy sector is preventing any progress on making energy poverty history and our fight against climate change. Afreximbank has remained supportive, proactive and resilient, financing both small- and large-scale projects across the African energy sector. In 2022, where 600 million people are still without access to electricity and 900 million people without access to clean cooking, support from pan-African financial providers such as Afreximbank is of uttermost importance,” states NJ Ayuk, Executive Chairman of the AEC,
He adding : “We are excited to host such a high-level delegation from one of Africa’s leading financial institutions. The Afreximbank represents a key partner for African projects, and we look forward to a range of deals being signed and new partnerships forge that will put the continent on the right track to make energy poverty history by 2030.”
The Afreximbank delegation will join other high-level delegates in Cape Town for panel discussions, investor forums, and one-on-one meetings to lay the groundwork for a sustainable energy future built on oil and gas. The Afreximbank delegation, led by Prof. Oramah, will be attending AEW 2022 to have an honest conversation about Africa’s energy future, one that is focused on Africa’s needs, targets, and commitments.
AEW 2022 is the AEC’s annual conference, exhibition and networking event. To accelerate industry growth and development and to promote Africa as the destination for energy investments, AEW 2022 brings together African energy stakeholders with investors and international partners. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.
