Afreximbank Delegation Led By Prof. Benedict Oramah To Attend African Energy Week 2022

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) – 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.

With financing African oil and gas projects representing a hot point of debate globally, the African Energy Chamber (AEC) remains resilient in its support for investing in African hydrocarbons, recognizing the role these resources will play in making energy poverty history by 2030. While international institutions are starting to abandon fossil fuels in the name of climate change, African-based organizations such as the Afreximbank have remained committed to African people and African energy. 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.

As a pan-African financial services provider, the Afreximbank has been committed to funding projects across the entire energy sector and value chain, creating opportunities for partnerships and driving multi-sector 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 has remained supportive, proactive and resilient, financing both small- and large-scale projects across the African energy sector. 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.”

Joining other high-level delegates in Cape Town, the Afreximbank delegation will be participating in panel discussions, investor forums and one-on-one meetings, laying the foundation for a robust energy future that is established through 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.