African Energy Chamber Investment Committee commits to facilitate multi-billion USD investments in 2021 for African energy projects



Members of the AEC Investment Committee (www.EnergyChamber.org) bring a wealth of finance and energy industry experience and creative thinking that is essential to address the enormous funding gap facing the energy sector is facing in Africa.

  • African Energy Chamber to focus on new ways to bring investors directly to opportunities in Africa
  • Members of the investment committee bring over 100 years of combined industry experience across Africa.
  • Committee members present were: Rolake Akinkugbe-Filani, Commercial Director – Mixta Africa; Folarin Lajumoke, vice-president – Africa, LOI; Nosizwe Nokwe-Macamo, Executive Chairman and Founder – Raise Africa Investments; Gontse Moseneke, CEO – Infrastructure Mahube and Robert Erlich, Partner and Executive Director – Upstream, Cayo Energy LP
  • Join the conversation on social media using #ChamberNews #ChamberBoard

The Investment Committee of the African Energy Chamber (the Chamber) has met for the second time since its appointment in mid-last year, to set an agenda that will facilitate the mobilization of capital for energy projects in Africa. The committee recognized the increased difficulty of raising capital for energy projects in a post-Covid era. However, the committee unanimously agreed that African energy projects remain extremely profitable, when approached with the right investment structure. According to the World Economic Forum, “Africa’s urban population is expected to nearly triple by 2050, to 1.34 billion”. Therefore, there is a strong need for energy investments to meet their needs, to facilitate the development of industry and the creation of much-needed income and jobs.

The discussion focused on solutions to the current lack of investment. “The traditional way of investing is changing.” Said Nosizwe Nokwe-Macamo, Executive Chairman and Founder of Raise Africa Investments. “The African Energy Chamber must seek to tap into non-traditional funding streams and look beyond the usual geographic hot spots for investments.” She added.

Likewise, Rolake Akinkugbe-Filani, Commercial Director of Mixta Africa, stressed that “To begin with, we need to be able to clearly articulate the energy need in the various African countries and what the different opportunities are. Where possible and appropriate, we should tap into local funding sources as well as other largely unexplored sources of funding, such as pension funds. There is an appetite for African infrastructure projects, but we must think about encouraging innovation to meet multiple objectives. Develop infrastructure and traditional energy sources, while promoting the transition to renewable energies. The Chamber, its partners, its members and its wider network must link opportunities to funding opportunities. “

Gontse Moseneke, CEO of Mahube Infrastructure, said: “We need to use this current situation to find out where new opportunities arise. Our natural resources must be translated into permanent capital, and bodies like the House are needed that are bold enough to facilitate the provision of the energy necessary for this purpose. On the energy transition, he said it was an opportunity for Africans to restructure, knowing that localization is essential.

Finally, Folarin Lajumoke, vice president for Africa at ION stressed that “governments have a critical role to play in finding much-needed capital to finance oil and gas projects. Recent events create a very competitive landscape on a global scale. In order to push investors to Africa, tax conditions should be reviewed taking into account the return on investment of a potential investor or explorer. Many tax terms are no longer suited to their purpose given the emerging trend of energy transition. The financing of hydrocarbons in Africa will compete not only with similar opportunities on other continents, but also with other sectors such as agriculture, technology and renewable energy. In a bearish market, the fiscal conditions and policies in place could tip an explorer / investor from one geological basin to another. Another major challenge is the uncompromising exploration bureaucracy. Exploration helps reduce geological risk, thus attracting investment. Unattractive fiscal conditions, coupled with bureaucratic excesses towards exploration, are toxic to capital raising. In addition, African NOCs have an important role to play in becoming full cycle energy companies that seek opportunities outside their own country. A diversified NOC such as Qatar Petroleum or Petronas is better placed to raise capital for growth / expansion than another. It is also politically strategic for the essential growth of intra-African trade. “

It is with this in mind that the African Energy Chamber will appeal to interested investors and project leaders to approach the chamber and benefit from its network of partners and members to facilitate the implementation of the project. “We will continue to partner with the private sector and governments around the world to attract critical funding for energy projects,” said Samantha Raoult, director of international relations at the chamber.

As a first step, it is imperative to identify the energy needs in different African countries and directly approach a range of potential investors across the continent and around the world to meet the market needs. The Chamber is the voice of the sector and will continue to build bridges that bring together governments and businesses in the African energy industry to find common ground.

The coming year is important, with flagship projects from Senegal to Mozambique, via Equatorial Guinea. If there is a global need for low-carbon energy projects, it is important to put into context that, combined, African countries account for just over 3% of global greenhouse gas emissions, then that they are home to 14% of the population. Our main mission in the House is to continue to fight energy poverty and encourage the development of African resources to improve the livelihoods of Africans. Collaboration, adaptation to the changing environment and leveraging local resources will be essential to achieve this goal.

Short Link: https://wp.me/pcj2iU-3y6d


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Air Peace pilots, cabin crew and more receive COVID-19 vaccine Ellen Sirleaf entrusts the President of ECOWAS to champion the cause of women Film industry contributes 2.3% to Nigeria’s GDP – Gbajabiamila College bans students from driving and riding on campus Rehabilitation: Minister instructs contractor to complete Abuja stadium by June Extremely horrific Niamey fire – Buhari NGX market capitalization increases by 124 billion naira NAN Honors 3 Editorial Members for Outstanding Performances Akpabio calls for better funding for NDDC We have a precise record of crude production – DPR The representatives committee ensures the support of the FRSC JUSUN sets April 19 as peaceful nationwide protest FG’s flagship freight services from Warri to Itakpe JAMB Registrar prohibits parents from accessing UTME sites Coronavirus – Gambia: COVID-19 update (April 15, 2021) Turkey bans payments with cryptocurrencies Coronavirus – Eritrea: Announcement from the Ministry of Health (April 15, 2021) Coronavirus – Zambia: COVID-19 update (April 15, 2021) Coronavirus – Nigeria: COVID-19 update (April 15, 2021) Rugby sevens match officials revealed for Tokyo Olympics 100 days to go Coronavirus – Ethiopia: COVID-19 update (April 15, 2021) The Qhubeka ASSOS team drawn for the Amstel Gold Race Avian flu: the association urges the government. increase surveillance Coronavirus – Kenya: COVID-19 update (April 15, 2021) Take advantage of police recruitment, commissioner urges Southeast youth Rugby Africa in discussion with Mariama Diallo, captain of the Senegalese women’s national team at 15 Kano Pillars FC unveil Super Eagles Cpt Ahmed Musa States, FCT generates N1.31trn as IGR in 2020 – NBS Coronavirus – South Africa: COVID-19 update (April 15, 2021) Group invests $ 500 million in cassava processing Sugar War: NGO urges FG to resolve dispute amicably EU-Africa green talks in Madrid: a green future for Africa COVID-19: FG reaffirms commitment to release eligible Nigerians Shun hate, division – Lalong to religious leaders Coronavirus – Rwanda: COVID-19 update (April 15, 2021) President Buhari revitalized – APC Pakistan blocks social media amid anti-France protests COVID-19: NCDC announces 80 new cases, now total 164,080 Banditry: Matawalle suspends his district chief Viral video: I’m not behind the rice distribution – Tinubu Executive Order 5: NACETEM creates a database of scientists and engineers – DG Lightning-fast and responsive – first details revealed of EOS R3, Canon’s latest professional mirrorless camera for sports and news Spanish La Liga / NPFL U15 football tournament begins in Enugu Amendment to electoral law: CSOs threaten to occupy NASS Police arrest doctor and 7 others for banditry in Zamfara FG identifies the causes of failure in the delivery of public services Ramadan: 8 people arrested in Kano for not having fasted Govt of Lagos. modernizes 56 roads, others on the island COVID-19: Nigeria vaccinates more than a million people, according to NPHCDA Nigeria reaffirms commitment to transition to net zero emissions