Members of the Association of Tourism Service Provision Institutions, along with the Orotta National Referral Hospital, have voluntarily donated a total of 190 units of blood to support the National Blood Transfusion Service.

From 16 to 21 September, in celebration of World Tourism Day on 27 September, members of the Association of Tourism Service Provision Institutions contributed 120 units of blood. Mr. Solomon Girmay, Chairman of the Association, highlighted that this is the third time the members have participated in such an initiative, praising their strong commitment to the cause.

Additionally, on 21 September, staff members of the Orotta National Referral Hospital donated 70 units of blood as part of a program themed “Donating Blood to Save Lives with Renewable Blood.”

Mr. Negasi Yitbarek, program coordinator, noted that the hospital’s staff has pledged to donate blood twice annually.

Mr. Tewolde Yohannes, Manager of the Orotta National Referral Hospital, commended the staff for their life-saving efforts, which complement their professional contributions.

In related news, the National Blood Transfusion Service reported that on 20 September, members of Immigration and Nationality donated 37 units of blood, further enhancing the country’s blood supply.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

As the world convenes in New York this week for the United Nations General Assembly (UNGA 79), Africa’s 1.2 billion people will be counting on their participating leaders and pan-African institutions like the African Development Bank Group (www.AfDB.org) to lead the charge on matters critical to the continent’s sustainable development and prosperity.

Issues of climate change, the reform of the global financial architecture, peace, food and health security, access to clean energy and connectivity, among others, are captured in the Bank’s High 5s (http://apo-opa.co/3BnAsrS), are advanced in the new Ten-Year Strategy (http://apo-opa.co/3ZG5u8q) and are aligned with the African Union’s Agenda 2063, ‘the Africa we want’.

The High-Level Segment of the 79th Session of UNGA, bringing together member states, international organizations, intergovernmental bodies, and other key stakeholders, will be held from 22-30 September 2024 under the theme “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations.”

The 2024 meetings take place against a backdrop of growing concern about the ability to meet critical targets outlined in the Sustainable Development Goals (SDGs) agenda.

The SDGS outline seventeen “goals” collectively described as “a shared blueprint for peace and prosperity for people and the planet, now and into the future” and with a deadline of 2030.  They were first unveiled at UNGA 70 in 2015 which saw Dr. Akinwunmi A. Adesina’s debut appearance as the African Development Bank Group President.

Over the last decade, the African Development Bank has ramped up efforts and investments aimed to accelerate the attainment of the SDGs, in synergy with its own High-5s agenda of Light Up and Power Africa; Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa. By focusing on these High 5s, the African Development Bank has said, Africa stands the chance of accomplishing 90 percent of its Sustainable Development Goals for Africa.

Accompanied to New York by a high-level delegation of Bank Group executives, Adesina will helm a major push to strengthen partnerships and generate more support and commitment from key stakeholders for the continent’s development priorities.

Adesina’s packed UNGA itinerary will kick off on Sunday, 22 September, at this year’s  ‘The Summit of the Future’ (http://apo-opa.co/3MTW2qA), scheduled for 22-23 September 2024. At the summit, Adesina will join world leaders to deliver a statement and adopt an action-oriented document to be known as “A Pact for the Future.”

He will also take part in a closed-door meeting with UN Secretary General António Guterres to discuss the critical issues of mobilizing greater private sector participation in Africa’s development, and the reform of multilateral development banks (MDBs).

Adesina will also speak at an event entitled “The World is at a Crossroads”, which will result in a new global blueprint designed to ensure humankind embraces rapid advances in technology and science to deliver on the promise of a better, more peaceful and prosperous future for people and the planet.

A major issue for the Bank is presenting the case for additional funds for the African Development Fund (ADF) , the Bank’s concessional lending arm, which since 2001 has been at the forefront of the Bank’s drive to advance the fragility agenda in Africa. The Bank, one of the first multilateral institutions to embed the concept of fragility and resilience into all its operations, is seeking to secure an ambitious replenishment of $25 billion for the ADF.

A fireside chat, hosted by the broadcaster CNN, will present a platform for Adesina to highlight the Bank’s ground-breaking Desert to Power programme across the continent’s Sahel region, which aims to create the largest solar energy zone in the world and connect 250 million people to electricity by 2030.

The bank president will also address a steering committee meeting of the Access to the Digital Economy (MADE Alliance-Africa) (http://apo-opa.co/4dibTdt) – an organization of which he is a co-chair which aims to provide digital access to 100 million people in Africa. Dr Adesina will stress how he believes the work of MADE is critical to address the ambitious and promising goal of reaching 100 million African farmers in 10 years.

He will be joined by the Bank’s vice-presidents for Regional Development, Integration, and Business Delivery, Finance, Agriculture, Human, and Social Development, Private Sector, Infrastructure&Industrialization and Power, Energy, Climate and Green Growth and the Chief Economist.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Tolu Ogunlesi
Communication and External Relations Department
email: media@afdb.org

With a new bid round in preparation, Angola is gearing up to attract investment to its greenfield projects, while simultaneously maximizing production from mature fields. At the African Energy Week (AEW): Invest in African Energy 2024 conference, the Energy Finance Summit will feature a dedicated session on “Financing Angolan Energies,” exploring how Angola can secure the investment it needs to expand its energy sector and leverage its vast oil and gas resources for local industry and global export. 

The Angola-focused session will explore the impact of competitive fiscal terms on unlocking new finance, strategies for attracting upstream investors amid climate change concerns and the role of oil and gas projects in supporting broader investments across the energy value chain. With Justin Cochrane, Africa Technical Research Head of S&P Global Commodity Insights serving as the moderator and speakers from investment firm Gemcorp and Angolan oil company Etu Energias, the session will shed insight into how Angola can secure the necessary financial backing to accelerate energy sector growth and transition.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

Angola’s energy sector is characterized by substantial proven reserves – approximately 9 billion barrels of oil and 11 trillion cubic feet of gas. As part of its strategy to boost production, Angola has introduced new incentives for marginal field development and deployed a six-year licensing round strategy through 2025. Currently, there are 29 blocks on offer. These include five marginal fields, including those in Block 4, Block 14, Block 15 and Block 18; four onshore block opportunities (as part of the 2023 round); 11 block opportunities for permanent offer; and nine offshore opportunities (as part of the 2025 round). These efforts align with the country’s goal of maximizing mature field production, while unlocking the potential untapped reserves and positioning itself as a favorable destination for upstream investment.

Securing investment for large-scale projects like TotalEnergies’ $6-billion Cameia and Golfinho field development in Block 20/11 has been pivotal to driving Angola’s offshore expansion. TotalEnergies and its partners, Malaysian multinational Petronas and Angolan national oil company Sonangol, reached FID for the project earlier this year through a combination of equity investments, strategic partnerships and long-term offtake agreements, which helped de-risk the project and ensure its viability. TotalEnergies is also rolling out its Begonia oil field development in Block 17/06, which reached FID in 2022 and is set to produce 30,000 barrels per day (bpd) by late-2024.

Meanwhile, Angola’s downstream sector is advancing rapidly, underpinned by diverse investment strategies that are fueling the development of several refining projects. The construction of the 200,000-bpd Lobito Refinery, 30,000-bpd Cabinda Refinery and 100,000-bpd Soyo Refinery – all scheduled for completion by 2025 – relies on a mix of international capital, public-private partnerships and innovative finance mechanisms. Financing for the Cabinda Refinery has been underpinned by the Fund for Export Development in Africa, an impact investment subsidiary of the African Export-Import Bank, and included a $335-million project facility secured in 2023. The modular refinery will increase Angola’s refining capacity by a total 60,000 bpd and contribute to Angola’s self-sufficiency in petroleum products. Furthermore, Angola’s bio-refinery initiative at the Luanda Refinery Complex reflects growing demand for cleaner petroleum by-products and could stimulate green finance packages from sustainability-focused banks and lending institutions. By utilizing diverse financing tools and integrating sustainable energy practices into traditional refining projects, Angola can accelerate its downstream sector expansion.

https://apo-opa.co/3BfyEBr

AEW: Invest in African Energy 2024 provides a critical platform for industry players, financiers and policymakers to discuss how to further capitalize on Angola’s energy resources and sophisticated production infrastructure. Moreover, the success of Angola in attracting new investment will serve as a model for financing energy projects across the continent.

Distributed by APO Group on behalf of African Energy Chamber.

The key to the successful, long-term development of a country’s natural energy resources can be a government that is willing to partner with energy companies to share risks as well as benefits, and to devise compliance approaches for effective social and environmental transformation.

So says Equinor Angola managing director Ane Aubert, of the company’s decades-long investment in Angola.

Government effort

Equinor is an international energy company headquartered in Norway, but over the years since the company entered the Angolan market in 1991, Angola has become one of the largest contributors to Equinor’s energy production outside Norway.

“The Angolan energy sector has made significant progress over the years” says Aubert. “We recognize the government´s effort to improve the business environment and remain attractive for investors.”

Among these efforts, Aubert notes the recent Presidential decree on incremental production. “It’s a great development,” says Aubert. “It introduces better terms for all oil and gas licenses, including incentives for mature fields and cost recovery for dry exploration wells.”

The Angolan government has also taken steps to enhance transparency and governance in the sector, by joining the Extractive Industries Transparency Initiative (EITI).

“Equinor has been a longstanding supporter of the EITI, and this was a significant move towards greater accountability and public awareness about Angola’s natural resources,” she says.

CO2 reduction

Aubert says the Angolan government’s commitment to enabling sustainable development is expected to stimulate more activity and investment.

“A key element of maintaining and enhancing Angola’s competitiveness is the continuous focus on CO2 reduction measures,” she says. “This is essential, not only for the environment but also for attracting investment in a global market increasingly focused on low-carbon initiatives.”

For its part, Equinor is poised to continue its investment. It is set to drill two promising exploration opportunities in its blocks 1/14, and 47 offshore assets, and has plans for new infill and near-field exploration (ILX) wells in its legacy assets over the next five years.

The company made its first Angolan discovery in 1995. Its portfolio today is partner operated and delivers around 110 000 barrels of oil per day – around 10% of Angola’s total oil production.

Significant player

Despite the recent emergence of new frontier discoveries, Aubert is confident that Angola will remain a significant energy player on the continent long into the future. 

“While Namibia is gaining attention as a potential new world-class exploration frontier, Angola continues to hold a strong position in Africa thanks to its established infrastructure, skilled workforce, and still substantial reserves potential,” says Aubert. “This combination, together with the government’s proactive approach, and increased focus on compliance, provides a stable and attractive environment for investors“.

Aubert says unlocking that attractive investment potential must go hand-in-hand with real ESG commitments. Equinor is itself part of several initiatives to boost efficiency and sustainability.

Through CO2 reduction roadmaps with partners and operators, process optimization, energy efficiency, and technology upgrades, the company reduced its CO2 emissions in Angola by 40% from 2018 to 2023.

It has also committed, alongside Sonangol and its operators, to the Oil and Gas Decarbonization Charter to end routine flaring by 2030 and achieve net-zero targets by 2050. It is also part of the Satellite Monitoring Campaign to detect methane leaks across assets.

“We believe it’s possible to lead in the energy transition while continuing our oil and gas activities, by optimizing our operations and focusing on efficient hydrocarbon development,” says Aubert.

Community projects

The company also has numerous community projects aimed at achieving social as well as economic progress.

A project in the southern Huila province aims to support 5 000 people in 10 rural communities affected by droughts and climate change through access to water and clean energy, as well as sustainable agricultural practices.

A biodiversity project supports a national inventory of mangrove ecosystems, which could hopefully lead to the recognition of Angolan mangroves as wetlands of international importance under the Ramsar Convention.

“Energy development in Africa must mean investing in the local workforce, promoting human rights, and being a constructive, proactive partner with authorities,” concludes Aubert. “Continued commitment, innovation, and collaboration across the Angolan industry is crucial to further reducing carbon emissions and achieving a sustainable energy future for all Angolans.”

Ane Aubert will be a featured speaker at AOW: Investing in African Energy, to be held in Cape Town at the CTICC2 from October 7 – 10. AOW is the meeting place for the global community of African energy stakeholders committed to enabling a prosperous energy outlook for Africa.
Distributed by APO Group on behalf of AOW: Investing in African Energy.