BRAZZAVILLE, Congo (Republic of), December 2, 2021 / APO Group / –
The CEMAC Entrepreneurial Energy Forum, organized by Pro Meet Up and Learn and ML Consulting, which took place in Congo-Brazzaville from 29 to 30 November, concluded with interactive reflections among energy sector stakeholders in the region of the CEMAC, with a focus on developing member countries. ‘resources in a sustainable and mutually beneficial way.
As the exclusive meeting platform for the Central African Economic and Monetary Community (CEMAC) subregion, which comprises six African countries, including Gabon, Cameroon, the Central African Republic, Chad, the Republic of the Congo and Equatorial Guinea, the Forum addressed the topic issues related to the implementation of the African Continental Free Trade Area (AfCFTA), the imperative of developing the regional energy industry and the establishment of public-private relations.
The Forum was attended by HE Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of the Congo; HE Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea; HE Denis Christel Sassou Mguesso, Minister for International Cooperation and Promotion of Public-Private Partnerships of Congo-Brazzaville; HE Oumar Torbo Djarma, Minister of Oil and Energy of Chad; Fortunato-Ofa Mbo Nchama, President of the Development Bank of Central African States; NJ Ayuk, Executive Chairman of the African Energy Chamber and CEO of Centurion Law Group; and Dr. Omar Farouk Ibrahim, Secretary General of the African Organization of Petroleum Partners (APPO).
As one of the most influential oil and gas organizations in Africa, APPO has demonstrated its dedication as a partner by pursuing accelerated growth in all of its member countries, including CEMAC participants. The Forum demonstrated APPO’s commitment to the region and the organization’s dedication to addressing energy development and fostering the creation of leading regional and multinational energy companies to benefit and support other member countries.
Serving as a platform through which African energy stakeholders can come together and drive industry growth and development while promoting the continent as the premier destination for Africa-focused events, the ministerial representatives of the CEMAC sub-region and APPO pledged to support African Energy Week 2022, an interactive Expo and networking event to be held in Cape Town, South Africa, next year.
The CEMAC Entrepreneurial Energy Forum, for its part, featured three discussion panels focused on investment between countries, the future of CEMAC and the main future projects.
The first panel discussion focused on the topic of South-South cooperation and the promotion of synergies and investment between countries, with a key conclusion that Central African states must take their time to achieve the goals of the energy transition. global. The panellists agreed that gas production remains the appropriate solution to address climate change, provided that actions are carried out in synergy within the subregion. As the most viable method to facilitate the transition to renewable energy, it was noted that natural gas remains an intermediate and abundant resource within the subregion and can serve to promote the development of future resources in a sustainable way.
The second panel discussion theme addressed the future of CEMAC from the perspective of major financial institutions, and panelists discussed the role of small and medium-sized enterprises (SMEs) and their ability to serve as a driving force for wealth creation. within the sub-region. It was noted that strengthening the free movement of people and goods in the region would facilitate economic and energy growth by making companies more competitive due to free market principles and lowering barriers to entry. The key objectives assumed by the Forum participants include the creation of a sub-regional energy terminal to address and alleviate the energy deficit in the CEMAC countries, while maintaining exchanges between oil and gas ministries for project feasibility studies. regional, as well as the creation of a network of SMEs and inventories managed by suppliers within the subregion for the sustainable growth of their economies.
Representing one of the richest regions in Africa in terms of its natural resources, the theme of the third panel discussion involved major future projects in liquefied petroleum gas, liquefied natural gas, and other potential opportunities in the CEMAC region.
The panelists discussed the pooling of resources and the development and integration of the region’s efforts to boost its economies, as well as how reducing tariff and fiscal barriers within the CEMAC region can serve to create a more environmentally friendly environment. investment friendly. It was noted that the regulation of exchange rates between companies will result in a reduction in financial risks, while improving the security issue within the subregion. A key point of the round table was the promotion of cooperation in the effective implementation of the continental free trade area and the improvement of exchange regulations in the subregion.
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