JOHANNESBURG, South Africa, February 27, 2025/ — Ghana is positioning itself as a major hub for energy investment, with the Ministry of Energy and Green Transition pledging to attract key players from the oil, gas and renewable energy sectors. On the sidelines of International Energy Week in London, Ghana’s Minister of Energy and Green Transition John Abdulai Jinapor and the African Energy Chamber (AEC) (https://EnergyChamber.org/) – the voice of Africa’s energy sector – emphasized Ghana’s readiness to welcome investment and create a favorable business environment for foreign and regional firms. During the…
Category: Energy
Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation
PARIS, France, February 17, 2025/ — Africa’s energy sector is seeing growing interest from Islamic financial institutions, as demonstrated by the recent $400 million Murabaha financing secured by Africa Finance Corporation (AFC). This transaction not only underscores the growing role of Islamic finance in Africa’s infrastructure development, but also highlights significant opportunities for deeper financial cooperation between Arab and African nations in the energy sector. The strong demand for AFC’s facility, which attracted 11 Islamic financial institutions – including Abu Dhabi Islamic Bank, Al Rajhi Bank and Emirates Islamic Bank…
Mission 300: African leaders pledge to advance clean cooking solutions for Africa at milestone Energy Summit
DAR ES SALAAM, Tanzania, February 1, 2025/ — African countries have taken bold commitments to implement clean cooking energy solutions to offset the devastating effects of open fire cooking which kills roughly 600,000 women and children annually across the continent. In energy compacts (apo-opa.co/40Fdx4z) signed during the Mission 300 Africa Energy Summit, held in Tanzania 27-28 January, 12 African countries signalled their intent to accelerate the pace of access to electricity and clean cooking solutions on the world’s fastest-growing continent, in line with the United Nations’ Sustainable Development Goal 7 and…
Africa – Mission 300: Significant new donor pledges in support of the Sustainable Energy Fund for Africa announced on margins of the Africa Energy Summit
DAR ES SALAAM, Tanzania, January 31, 2025/ — Denmark, the United Kingdom, Spain and France have unveiled new or additional contributions to the Sustainable Energy Fund for Africa, demonstrating strong support for the African Development Bank (www.AfDB.org)-managed fund as it expands energy access across Africa, including through the Mission 300 partnership. Another new donor – Japan –joined in December 2024 with a $5 million contribution under AGIA (https://apo-opa.co/3Eju6LT). SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. It…
Oando Publishes N4.1 Trillion Revenue and N65.5 Billion Profit-After-Tax in Full Year (FY) 2024 Results
LAGOS, Nigeria, February 1, 2025/ — Oando PLC (www.OandoPLC.com), Africa’s leading integrated energy company listed on both the Nigerian Exchange Grpup (NGX) and Johannesburg Stock Exchange (JSE), announced a strong financial performance for the Full Year (FY) 2024 with a 45% growth in revenue to N4.1 Trillion compared to N2.9 Trillion in FY 2023 results. The company’s 2024 performance showcases a consistent upward trajectory following its announcement of N65.5 billion in profit after tax. Speaking on the results, Group Chief Executive, Oando PLC, Wale Tinubu CON, commented, “2024 was a…
Africa: The Sahel Can Revolutionize Renewable Energy Access and Affordability Up to the Last Mile (By Reshmi Theckethil)
DAKAR, Senegal, January 31, 2025/ — By Reshmi Theckethil, Lead Portfolio, Climate Action, Disaster Risk Reduction, Energy, and Resilience | Sahel Resilience Project Manager, UNDP Sub-Regional Hub for West and Central Africa (www.UNDP.org). Imagine a Sahel region where every household, school, and hospital has access to clean, affordable energy—where renewable power not only serves homes but also drives economic transformation. Given the region’s rich solar, wind, and hydro resources, this vision is achievable. With one of the highest potential for solar energy production globally, at 13.9 billion kWh/year compared to the…
Africa Energy Summit, leaders commit to energy transformation with more than $50billion backing from global partners
DAR ES SALAAM, Tanzania, January 29, 2025/ — Thirty African Heads of State and government today committed to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity to power economic growth, improve quality of life, and drive job creation across the continent. The leaders pledged their commitment in a declaration during the two-day Mission 300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Mission 300 partners pledged more than $50 billion in support of increasing energy access across Africa. The Dar es Salaam Energy Declaration represents…
African Energy Ministers, National Oil Companies (NOCs) and Regulators Stand Out Among African Energy Chamber’s (AEC) 2025 Movers and Shakers
JOHANNESBURG, South Africa, January 28, 2025/ — Key African energy ministers, national oil companies (NOCs) and regulators have been recognized for their contributions to advancing hydrocarbon exploration, LNG megaprojects and policy reforms in the African Energy Chamber’s (www.EnergyChamber.org) Top 40 Movers and Shakers to Watch in 2025 list. Namibia’s Tom Alweendo, Minister of Mines and Energy, is at the forefront of the country’s emerging oil industry. With first oil expected by 2029 and a pioneering local content policy in place, Minister Alweendo is focused on translating Orange Basin discoveries into tangible development,…
15th IRENA Assembly to Set Energy Transition Narrative for 2025
Abu Dhabi, United Arab Emirates, 12 January 2025 – The 15th Session of the International Renewable Energy Agency (IRENA) Assembly convenes today, January 12, 2025, in Abu Dhabi, marking the first international energy meeting of the year. Under the theme ‘Accelerating the Renewable Energy Transition – The Way Forward,’ the two-day meetings will bring together ministers and high-level delegates from IRENA’s 170 Member States, academia, development banks, CEOs and youth to enhance wider, cross-sectoral collaboration on the energy transition. Key discussions will focus on tripling renewable energy capacity by 2030, enhancing ambition in Nationally Determined Contributions (NDC…
Namibia’s Cabinet Approves Upstream Local Content Policy, Marking a Turning Point for the Industry
JOHANNESBURG, South Africa, December 4, 2024/ — In a strategic move for the industry, Namibia’s cabinet has approved the National Upstream Local Content Policy. The progressive policy is set to play a crucial role in reducing the nation’s dependency on foreign expertise by focusing on the development of local capacity. Aimed at strengthening economic sovereignty and empowering Namibians within the country’s oil and gas industry, the policy marks a turning point for the country as it targets first oil production by 2029. The African Energy Chamber (AEC) – serving as…