In addition, Switzerland-based downstream expert Philippe Cohen has joined the advisory board of the African Energy Chamber (www.EnergyChamber.org). Philippe will oversee and support the work of the African Energy Chamber by leading the new downstream committee.
“Our continent has been engaged in the commodity trade for decades, and we need to ensure that we market African commodities like crude oil and LNG in Africa for our own industrialization and growth. Business houses and governments need to start seeing Africa as a market, not just a farm to supply other continents, ”said NJ Ayuk, Executive Chairman of the African Energy Chamber.
The African Energy Chamber believes that the downstream and intermediary activities of our African energy sector are key drivers of change across the industry. Philippe is an accomplished, results-oriented gentleman who understands the most pressing issues facing the downstream industry today, from origination to financing and organic growth to expansion to mergers and acquisitions. .
Local content and African participation must be an integral part of the downstream sector, especially with downstream energy trading companies. We need to change the face of trading companies when it comes to financing and commodity trading in Africa, as well as the jobs of operators and in the executive suite. It is not correct that many commodity trading companies that make billions of dollars in Africa with African resources do not have Africans at the helm. This must change.
Our downstream committee is responsible for advocating for regulations and policies that promote growth and investment in Africa’s downstream sector. This will help boost many African economies, create needed jobs, work with governments on energy and maritime security, and push Africa to remain competitive in the global economy.
Advancing Africa towards our carbon neutrality obligations is essential for energy marketing and trading. The African Energy Chamber aims to be proactive in pushing Africa’s downstream sector to make the necessary changes, especially given the technology available, rather than waiting for instructions from bureaucrats or Western groups.
“With the AfCFTA Agreement, we urgently need to implement provisions that open up and enable market access for downstream African actors, which must be respected and encouraged to develop in Africa by the government reducing paperwork for them. We are honored to welcome Mr. Cohen to our board. Mr. Ayuk added.
Members of our committee, working with various African governments and national energy companies to communicate regularly on policies that work, and those that could be improved will only benefit African families and businesses.
Africa has been home to some of the most entrepreneurial commodity trading companies like Vitol, Puma, Vivo, Glencore, Trafigura, Litasco, Sahara Energy, Oando, Oryx Energies and Mocoh, to name a few. We must encourage them and also open doors to new actors, including local African businesses.
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