Afreximbank Delegation Led by Prof. Benedict Oramah will Attend African Energy Week 2022 to Sign Deals and Forge Partnerships – African Business

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In pursuit of consolidating Africa’s own narrative around oil, gas and financing large-scale project developments, the African Export-Import Bank (Afreximbank) has confirmed that a strong delegation will attend the continent’s premier energy event, African Energy Week (AEW) (www.AECWeek.com) – taking place from October 18-21, 2022, in Cape Town – to sign deals and forge partnerships while driving Africa-centric dialogue around the future of African energy.

The financing of African oil and gas projects is a hot topic worldwide. The African Energy Chamber (AEC), however, remains resilient in its support for African hydrocarbons. It recognizes the importance these resources will play in ending energy poverty by 2030. While international institutions are beginning to abandon fossil fuels for the sake of climate change mitigation, African-based organizations like the Afreximbank are committed to African peoples’ energy and their needs. Through the organization’s partnership with the continent’s premier event for the oil and gas industry, and the confirmation of a high-level delegation coming to AEW 2022 in Cape Town, the Afreximbank’s support for Africa’s energy future remains unwavering.

Afreximbank, a pan-African bank, has been committed funding projects in the entire energy sector and value-chain, creating partnerships, and driving multi-sectoral growth in Africa. Deals including the $500 million investment to assist South Sudan’s power transmission, infrastructure and agriculture sectors; the $250 million credit to Trans Niger Oil and Gas to help facilitate the acquisition of a 45% stake in the OML 17 onshore field; the $200 million loan facility agreement signed with the Egyptian General Petroleum Company to enhance power generation and distribution; and $400 million in loans and guarantees to support Mozambique’s liquefied natural gas project demonstrate the institution’s commitment to expanding Africa’s energy sector.

“Lack of international investment in Africa’s energy sector is preventing any progress on making energy poverty history and our fight against climate change. Afreximbank is supportive, proactive, resilient and has funded both small-scale and large-scale projects throughout the African energy industry. In 2022, where 600 million people are still without access to electricity and 900 million people without access to clean cooking, support from pan-African financial providers such as Afreximbank is of uttermost importance,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “We are excited to host such a high-level delegation from one of Africa’s leading financial institutions. The Afreximbank represents a key partner for African projects, and we look forward to a range of deals being signed and new partnerships forge that will put the continent on the right track to make energy poverty history by 2030.”

Afreximbank will be joining other high-level delegate in Cape Town to take part in panel discussions and investor forums. They also plan to meet one-on-1 with investors and lay the foundation for an energy future that is based upon oil and gas. Led by Prof Oramah, the Afreximbank delegation will be coming to AEW 2022 to hold a real discussion on Africa’s energy future, a discussion centered around Africa’s needs, targets and commitments. 

Distributed by APO Group in support of African Energy Week.

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About African Energy Week:
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 brings together African energy stakeholders and investors to promote Africa as a destination for energy investment. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.

APO issued this Press Release. APO has issued this Press Release. The content has not been reviewed by African Business’ editorial team. This announcement is solely the responsibility of the issuer.

Source: african.business

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