In a bid to sustain crude output above 1 million barrels per day beyond 2027, Angola has introduced a series of upstream measures to enhance fiscal terms, attract investment, and accelerate infrastructure development. The move is set to significantly strengthen the country’s upstream market and cement its position as a key player in the global oil industry.

Global data and analytics provider Wood Mackenzie will lead a workshop during the Angola Oil&Gas (AOG) 2024 pre-conference – taking place ahead of the main event on October 1. The workshop will explore Sustaining Angola’s Upstream Investment and Fiscal Attractiveness and will offer insight into financial and regulatory reforms. Led by Wood Mackenzie’s Research Director Dr. Ian Thom, the session will explore investment trends in Angola, therefore laying the foundation for discussion and deals during the main conference. 

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Over the years, Angola has taken a two-pronged approach to attracting investment in upstream oil and gas. On the one hand, the country has prioritized offering regular access to block opportunities so that companies can invest in strategic assets more easily. On the other hand, fiscal reform and review ensures operators have access to competitive terms while the establishment of the National Oil, Gas&Biofuels Agency (ANPG) in 2019 streamlined industry processes and enhanced overall transparency. These measures have incentivized investment in Angola and the country now expects a $60 billion investment pipeline over the next five years.

The launch of a six-year licensing round in 2019 by the ANPG showcased a forward-thinking approach to IOC engagement, and as a result, over 27 blocks were awarded between 2019 and 2023. A 12-block tender – concluding in January 2024 – secured 53 bids, highlighting the level of interest in Angolan assets. Angola’s next licensing round will offer ten blocks in the Kwanza and Benguela basins and will launch in Q1, 2025.

In addition to tenders, the country’s permanent offer program grants access without the need for a traditional licensing structure. Currently, 11 blocks are available on permanent offer, including three in the Lower Congo basin; three in the Kwanza basin; and five in the Namibe and Benguela basins. The country has also opened its first-ever marginal fields for exploration, featuring five blocks.

As Angola strives to mitigate declines in mature oilfields, the Wood Mackenzie workshop during the AOG 2024 pre-conference program will delve into the implications fiscal reform can play in attracting investment in oil and gas projects. The session will address the attractiveness of the Angolan market, covering strategic topics such as upstream fiscal evaluation and benchmarking as well as investment trends and outlook. By examining existing major projects, the session will dive into strategies for enhancing fiscal competitiveness for future developments.

The session will be of benefit to senior level decision-makers within government; regulators; oil and gas companies; as well as financial institutions. Participants will learn about the upstream investment trends – both in Angola and across Africa – and how the country can maintain its attractiveness for foreign capital and IOC participation. Moreover, insight into how the industry can work together towards sustaining oil production will be provided, in line with the AOG 2024 theme of Driving Exploration and Development Towards Increased Production in Angola.  

Don’t miss this opportunity to gain strategic insights from industry expert Dr Thom. To register for the workshop and the AOG conference, visit https://apo-opa.co/3LNM2yF or contact us at sales@energycapitalpower.com. Access the pre-conference technical program here http://apo-opa.co/3LM5qMs.

Distributed by APO Group on behalf of Energy Capital&Power.

The acquisition is a key milestone in ThetaRay’s (www.ThetaRay.com) mission to use AI in the fight against financial crime. As the leading comprehensive, cloud-based financial crime detection platform, ThetaRay enables financial institutions to identify trusted transactions and trusted customers across all banking activities. This recently won ThetaRay an award for Best Use of Data for Human Trafficking and Modern Slavery Detection together with Santander UK.

ThetaRay, the leading provider of AI-powered financial crime detection technology, today announced the acquisition of next-generation European screening company, Screena. The acquisition demonstrates ThetaRay’s continuous investment in proprietary technology and reaffirms its mission of enabling banks, fintechs, and regulators to detect financial crime with state-of-the-art AI solutions.  

Screena helps financial institutions stop wrongdoers without afflicting legitimate parties. It screens individuals, companies, or other entities against numerous lists of sanctioned parties. This ensures compliance with international law and regulations while empowering global trade, protecting reputations, and delivering financial security.  

ThetaRay, deployed in over 40 countries across six continents, is on a journey from being a leader in AI-powered Transaction Monitoring solutions to a cloud-based, end-to-end financial crime detection platform used by over 100 financial institutions including Santander, Payoneer, and Travelex. This strategic acquisition formalizes Screena’s cutting-edge, cloud-based AI-driven screening solution as part of ThetaRay’s product suite, providing financial institutions with an unparalleled, holistic view of transactional and customer screening risks. 

With ThetaRay, clients detect multiple types of financial crimes such as money laundering, terrorist financing, and drug trafficking. Most recently, in a global effort to combat modern slavery, Santander UK teamed up with ThetaRay to deploy advanced technology aimed at detecting human trafficking within financial transactions. This collaborative effort received accolades for “Best Use of Data for Human Trafficking and Modern Slavery Detection” at the Digital Transformation Awards in June 2024.  

ThetaRay’s product suite ensures financial institutions can swiftly and effectively comply with complex regulatory requirements. Furthermore, ThetaRay enables seamless customer onboarding and transaction flows and allows companies to scale rapidly and capitalize on business opportunities while fostering growth across varied business lines.  

“The acquisition of Screena is a significant milestone for ThetaRay as we continue our mission to power the global fight against financial crime by enhancing our offerings with the most advanced AI capabilities. It furthers our commitment to delivering an end-to-end platform that enables banks, fintechs, and regulators to effectively identify financial crime – vital capabilities to grow and operate a financial institution today,” remarked Peter Reynolds, CEO of ThetaRay. “The recent launch of our Customer Risk Assessment (CRA) product this year and the mass adoption of our leading Transaction Monitoring offering demonstrates both a clear need in the market and our proven ability to build pioneering solutions. We are delighted to have closed our first acquisition, bringing key capabilities and further establishing our already rapidly growing presence in Europe.” 

“The need for international, cross-border payments, and business corridors between Europe and Africa, South America and the US, and many locations around the world requires the use of AI and advanced technology to make sure that the transactions are trusted, and that the people behind them are trusted,” said Erel Margalit, Chairman of ThetaRay, and Founder and Chairman of JVP. “ThetaRay’s AI also establishes a highway for the good actors that require an international payment network to do their business. The acquisition of Screena advances the ability to identify bad actors, whether it’s money laundering, drug trafficking, or terrorist financing in a much more pointed way. This move is a testament to ThetaRay’s mission of thwarting financial crime and continuously enhancing capabilities to win this critical fight on our journey to becoming a category leader.” 

Cédric Iggiotti, CEO of Screena, stated, “Integrating with ThetaRay has been a game-changer for us at Screena, revealing the true potential of combining Transaction Monitoring, Screening, and Customer Risk Assessment. For too long, screening was siloed from other critical financial crime detection tools. Our partnership with ThetaRay not only meets stringent regulatory demands but also significantly enhances our crime detection capabilities, as evidenced by our recent successes with major financial institutions. Looking ahead, we are excited to push the boundaries of what’s possible in building a more trustworthy financial ecosystem.” 

Distributed by APO Group on behalf of ThetaRay.

Media Contact: 
pr@thetaray.com

About ThetaRay:
ThetaRay is a pioneer in the field of Anti-Money Laundering with an AI-powered solution that delivers trusted transactions and trusted customers for banks, fintechs, and regulators around the world. ThetaRay’s Transaction Monitoring, Screening, and Customer Risk Assessment product suite enables compliant business growth and helps institutions fight financial crime. With ThetaRay, customers experience significant operational efficiency gains, reduced false positives, and comprehensive risk coverage. The main investors in ThetaRay are JVP, who helped found the company, the Canadian and international Fintech investor, Portage, and other large investors from Israel and Europe. For more information, visit www.ThetaRay.com. 

About Screena:
Screena empowers banks, fintechs, and digital businesses to quickly and easily integrate name screening and entity resolution with any customer onboarding or payment platform. Screena’s innovative technology stops wrongdoers without afflicting legitimate parties, allowing smooth customer registration and fast payment operations. Screena’s AI-driven algorithms surface true positives with unrivalled precision and de-risk financial organizations from regulatory fines, personal liability, and reputational damage.  

The 39th edition of the Luanda International Fair (FILDA) (www.FILDA-Angola.co.ao), held from July 23 to 28 in the Luanda-Bengo Special Economic Zone, concluded yesterday with remarkable success, highlighting the participation of 1,771 companies and a significant focus on “Food Security and International Partnerships.”

Angola’s largest business fair was attended by the Vice-President of the Republic, Esperança da Costa, the Minister of State for the Social Area, Maria do Rosário Bragança, the Prime Minister of Portugal, Luís Montenegro, the Minister of Transport, Ricardo D’Abreu, the Minister of Planning, Victor Hugo Guilherme, the Minister of Industry and Commerce, Rui Minguês, the Minister of Finance, Vera Daves de Sousa, João Baptista Borges, Minister of Energy and Water, the Governor of Luanda, Manuel Homem, among various international delegations, ambassadors, and diplomats, reinforcing international partnerships and Angola’s commitment to economic diversification and sustainable development.

During the opening ceremony, the Minister of State for the Social Area, Maria do Rosário Bragança, representing the President of the Republic, emphasized the importance of FILDA for strengthening local value chains and promoting economic diversification through international partnerships.

According to the event organizer, Bruno Albernaz, CEO of Grupo Arena, this edition of FILDA decided to honor the Lunda-Cokwe culture, recognizing its crucial role in the development of the artisanal industry and the generation of family incomes. The event recorded over 80,000 visitors and attracted more than 1,771 companies from various sectors and countries, consolidating Angola’s position as an attractive center for international business.

International Participation

Italy: With direct support from the Italian Trade Agency (ICE), Italy marked its presence with thirteen companies from sectors such as food, agriculture, oil and gas, industry, equipment, construction, and restoration, standing out for the robustness of their participation. Trade exchanges between the two countries exceeded 840 million euros in the first half of 2024, reflecting Italian investors’ confidence in the Angolan market.
Brazil: Brazil confirmed its position as a strategic partner with the presence of 16 companies in various sectors such as beverages, health, logistics, livestock, civil construction, and security, strengthening the solid relations between Angola and Brazil. With direct support from the Brazilian Export and Investment Promotion Agency (ApexBrasil), Brazilian companies continue to seek opportunities to establish and expand business contacts and market positioning.
Canada: Canada communicated its intention to expand its presence in Angola through substantial investments, specifically US$6 billion in the mining sector, demonstrating its commitment to the growth and stability of the Angolan market and seeking new strategic partnerships.
Portugal: The visit of the Prime Minister of Portugal, Luís Montenegro, was a significant moment. With 22 participating companies, Montenegro participated in the Angola-Portugal/2024 Economic Forum, addressing topics such as the agro-industrial sector in Angola, challenges and opportunities, and the importance of logistics chains and certification. Portuguese companies were represented with direct support from the Portuguese Business Association (AEP).
United States: The 2nd Business Forum between the United States of America and Angola highlighted the expansion of bilateral relations, especially after the recent meeting between Presidents João Lourenço and Joe Biden. The American ambassador to Angola, Tulinabo Mushingi, graced FILDA with his presence and emphasized the growing importance of bilateral trade and investments as drivers for Angola’s economic development.
China: The China and Portuguese-Speaking Countries Business Forum, held on the third day, was a key moment, with China reiterating its commitment to the sustainable development of Lusophone countries. Trade relations between Angola and China reached a significant level, with a business volume of US$30 billion last year, underscoring the importance and dimension of this strategic partnership.
Germany: Germany marked its presence with 12 companies from the energy, renewable energy, and industry sectors.
Belarus: Belarus was represented by 6 companies related to the machinery and agriculture sectors.
Indonesia: Indonesia was represented in its first participation with 6 companies from the trade, cosmetics, and pharmaceutical industry sectors.
South Korea: Making its debut at FILDA, South Korea was represented by 4 companies from the pharmaceutical industry and machinery sectors.

FILDA 2024 served as a platform for critical discussions on logistics, certification, and financial instruments, fundamental for strengthening food security and promoting the quality of Angolan products. Held in the Luanda-Bengo Special Economic Zone, FILDA reflects Angola’s efforts to improve the business environment through significant political, economic, and social reforms. This year, the fair confirmed itself as a crucial event for establishing Angola on the global trade and investment map, attracting international attention and promoting the country’s economic diversification. The Luanda International Fair (FILDA) is one of the most important business events in Angola, functioning as a platform for national and international companies to showcase their innovations, strengthen their business networks, and promote sustainable economic development.

Distributed by APO Group on behalf of Luanda International Fair (FILDA).

KONE (www.KONE.eg), a global leader in the elevator and escalator industry, is thrilled to announce the appointment of Loay Dajani as the Managing Director for KONE Middle East, Turkey, and Africa (KMTA). With over 25 years of extensive experience and a proven track record of success, Dajani joins KONE from ABB, a pioneering technology leader in electrification and automation, where he spent 18 years in various leadership roles.

Dajani brings a wealth of knowledge and expertise to KONE, having held numerous senior positions throughout his career. His leadership is expected to further elevate KONE’s operations and enhance its market presence in the Middle East, Turkey, and Africa region.

“We are delighted to welcome Loay Dajani as the new Managing Director for KONE Middle East, Turkey, and Africa. Loay is a highly esteemed addition to KONE, and his appointment signals our continued commitment to being the premier partner for our customers in the region,” said Samer Halabi Executive Vice President, Asia-Pacific, Middle East and Africa -KONE Corporation.  “The Middle East, Turkey, and Africa are critically important regions for KONE, and we are confident that under Loay’s leadership, we will continue to drive growth and deliver exceptional value to our customers in these dynamic markets.”

“I am honored to join KONE and lead our efforts in the Middle East, Turkey, and Africa,” said Loay Dajani. “Under my leadership, safety remains our utmost priority for our employees, partners, and users. Our aim is clear: we strive to be the number one partner for our customers in every market we operate. This commitment reflects our dedication to delivering exceptional value and service, ensuring that we meet and exceed the expectations of our clients while upholding the highest safety standards. Moreover, we are committed to advancing sustainability and driving modernization efforts across our solutions, aiming to enhance the efficiency and environmental performance of urban infrastructure.”

Dajani expressed his enthusiasm for his new role stating, “I am energized by the values that define KONE: dedication to exceptional service, collaboration, and a positive mindset. Our focus remains steadfast on serving our customers better, building on our successes, and effectively communicating every step of the way. Together, we’re ready to take experiences to new heights.”

Under Dajani’s leadership, KONE is well-positioned to guide its operations in the Middle East, Turkey, and Africa towards continued growth and success. One of Dajani’s primary strategic objectives is to make KONE a great place to work, focusing on attracting top talent and promoting diversity and inclusion within the company.

KONE is confident that Dajani’s appointment will usher in a new era of growth and innovation for the company in the Middle East, Turkey, and Africa. With his strong leadership skills and commitment to excellence, KONE is poised to continue delivering exceptional solutions and services to its customers across the region.

Distributed by APO Group on behalf of KONE.

About KONE:
At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people’s journeys safe, convenient and reliable, in taller, smarter buildings. In 2022, KONE had annual sales of EUR 10.9 billion, and at the end of the year over 63,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.