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African Finance Corporation to discuss access to finance at African Energy Week 2022

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  The African Energy Chamber AEC is proud to host a delegation from the pan African multilateral development finance institution the Africa Finance Corporation AFC during the African Energy Week AEW conference and exhibition www AECWeek com Africa s premier event for the oil and gas sector taking place from 18 21 October this year in Cape Town Representing one of Africa s leading financial institutions driving socio economic growth through better access to finance for the entire energy value chain the AFC will be a key player and driver in all discussions on the Financing Africa s energy future Since the organization s establishment in 2007 the AFC has played a critical role in maximizing energy development in Africa by providing project development technical advisory services corporate finance and financial advisory services supporting the continent s diverse energy sector through alliances with 34 countries the private sector and international partners As a result 35 billion worth of projects were implemented in some 35 countries and more than 2 GW of power generation capacity were added all thanks to AFC funding Given that Africa urgently needs to improve investment across the energy sector specifically with regard to exploration production and deployment of oil and gas infrastructure as goals to lift more than 600 million people out of energy poverty and providing access to a clean kitchen to some 900 million the role of national and innovative solutions provided by institutions such as the AFC has been established as key In the context of 2022 improving access to finance is even more prevalent particularly as global investment in African oil and gas continues to decline due in large part to energy transition trends As such the AFC continues to be instrumental in the fight to make energy poverty history across the continent by 2030 with the group spearheading some of Africa s major oil and gas projects through the provision of capital In July 2022 the AFC committed to investing up to one billion dollars in the commodity railway and energy sectors in the continent s largest oil producer Angola after injecting 100 million for the construction of the Cabinda refinery to boost domestic production Additionally in partnership with the Swiss energy company Brahms Oil Refineries the AFC is also financing the development of an oil and gas refinery and storage terminal in Guinea Meanwhile in the renewable energy sector as Africa seeks to accelerate the diversification of its energy mix for energy security while remaining a climate champion having added 16 new member countries in the last four years the AFC remains a reliable partner for African projects In July 2022 the institution embarked on the largest renewable energy deal in Africa acquiring a 100 stake in independent power producer Lekela Power thereby taking on its massive 2 8 GW portfolio in partnership with Egyptian energy company Infinity Group With AFC aiming to double Lekela Power s operating assets in the next four years the group is making significant progress in electrifying the continent Furthermore in 2020 the AFC also committed 45 million for the construction of Angola s first photovoltaic solar power plant Electrifying the continent ensuring energy security and accelerating industrialization will require significant capital as well as collaboration between all energy players in Africa For years the continent has relied on foreign investment to drive energy developments however in 2022 African financial institutions will play an increasingly important role As such AEW 2022 is committed to enhancing investment across Africa s energy sector and value chain thus ushering in a new era of development that will enable the continent to make energy poverty history by 2030 With the help of institutions such as With the AFC Africa will be well equipped to become energy independent and resilient said NJ Ayuk CEO of the AEC adding We are proud to host an AFC delegation at AEW 2022 and look forward to a productive and market driven dialogue run by the institution itself At AEW 2022 AFC representatives will participate in various investor forums and summits shaping discussions on how to improve access to finance driving an Africa tailored just energy transition dialogue and making a strong case for financing of oil and gas in 2022 and beyond Bringing together energy leaders global financiers and public and private sector executives for four days of networking AEW 2022 represents the perfect platform to sign deals form partnerships and jump start new project developments thanks to funding and insight from AFC
African Finance Corporation to discuss access to finance at African Energy Week 2022

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African Energy Chamber

The African Energy Chamber (AEC) is proud to host a delegation from the pan-African multilateral development finance institution, the Africa Finance Corporation (AFC), during the African Energy Week (AEW) conference and exhibition (www.

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AECWeek.com), Africa’s premier event for the oil and gas sector taking place from 18-21 October this year in Cape Town. Representing one of Africa’s leading financial institutions driving socio-economic growth through better access to finance for the entire energy value chain, the AFC will be a key player and driver in all discussions on the Financing Africa’s energy future.

nigerian news today headlines

Since the organization’s establishment in 2007, the AFC has played a critical role in maximizing energy development in Africa by providing project development, technical advisory services, corporate finance and financial advisory services, supporting the continent’s diverse energy sector.

through alliances with 34 countries, the private sector and international partners.

As a result, $35 billion worth of projects were implemented in some 35 countries and more than 2 GW of power generation capacity were added, all thanks to AFC funding.

Given that Africa urgently needs to improve investment across the energy sector, specifically with regard to exploration, production and deployment of oil and gas infrastructure as goals to lift more than 600 million people out of energy poverty and providing access to a clean kitchen to some 900 million, the role of national and innovative solutions provided by institutions such as the AFC has been established as key.

In the context of 2022, improving access to finance is even more prevalent, particularly as global investment in African oil and gas continues to decline due in large part to energy transition trends.

As such, the AFC continues to be instrumental in the fight to make energy poverty history across the continent by 2030, with the group spearheading some of Africa’s major oil and gas projects through the provision of capital .

In July 2022, the AFC committed to investing up to one billion dollars in the commodity, railway and energy sectors in the continent’s largest oil producer, Angola, after injecting $100 million for the construction of the Cabinda refinery.

to boost domestic production.

Additionally, in partnership with the Swiss energy company, Brahms Oil Refineries, the AFC is also financing the development of an oil and gas refinery and storage terminal in Guinea.

Meanwhile, in the renewable energy sector, as Africa seeks to accelerate the diversification of its energy mix for energy security while remaining a climate champion, having added 16 new member countries in the last four years, the AFC remains a reliable partner for African projects.

In July 2022, the institution embarked on the largest renewable energy deal in Africa, acquiring a 100% stake in independent power producer, Lekela Power, thereby taking on its massive 2.8 GW portfolio, in partnership with Egyptian energy company Infinity Group.

With AFC aiming to double Lekela Power’s operating assets in the next four years, the group is making significant progress in electrifying the continent.

Furthermore, in 2020, the AFC also committed $45 million for the construction of Angola’s first photovoltaic solar power plant.

“Electrifying the continent, ensuring energy security and accelerating industrialization will require significant capital as well as collaboration between all energy players in Africa.

For years, the continent has relied on foreign investment to drive energy developments; however, in 2022, African financial institutions will play an increasingly important role.

As such, AEW 2022 is committed to enhancing investment across Africa’s energy sector and value chain, thus ushering in a new era of development that will enable the continent to make energy poverty history by 2030.

With the help of institutions such as With the AFC, Africa will be well equipped to become energy independent and resilient,” said NJ Ayuk, CEO of the AEC, adding, “We are proud to host an AFC delegation at AEW 2022 and look forward to a productive and market-driven dialogue.

run by the institution itself.

At AEW 2022, AFC representatives will participate in various investor forums and summits, shaping discussions on how to improve access to finance, driving an Africa-tailored just energy transition dialogue, and making a strong case for financing of oil and gas in 2022 and beyond.

Bringing together energy leaders, global financiers, and public and private sector executives for four days of networking, AEW 2022 represents the perfect platform to sign deals, form partnerships, and jump-start new project developments thanks to funding and insight from AFC.

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