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Energy Capital & Power to Deliver a Series of Successful Events in 2022 – African Business

Energy Capital & Power
Energy Capital & Power

Despite the economic downturn brought about by the onset of the COVID-19 pandemic, Africa’s leading investment platform for the energy sector, Energy Capital & Power (ECP) (, hosted a successful lineup of large-scale energy events across the continent in 2021, whereby $2.5 billion worth of deals were signed by event delegates. Against this backdrop, and with an exciting 2022 event lineup, ECP is poised to exceed this impressive figure, ushering in a new era of investment and development across Africa’s energy sector.

A Successful 2021

With the easing of COVID-19 restrictions across the continent paving the way for Africa’s event industry to kick off after a two-year hiatus due to the COVID-19 pandemic, ECP served as an events organizer pioneer in 2021, organizing five large-scale energy events in five different countries across Africa as well as a successful conference that was held in Houston, Texas. With over 5,000 event attendees and an online audience of over 100,000, ECP’s world-class, investment-focused 2021 events were considered pivotal, providing a platform for regional and international stakeholders to connect with African energy leaders.

ECP kicked off its event calendar year with the fourth edition of South Sudan Oil & Power (SSOP), representing the company’s first post-COVID-19 event. During the conference, presentations and Ministerial keynote addresses made a strong case for investment in the east African nation, providing insight into sector-specific investment opportunities including solar, oil and gas exploration and infrastructure. Meanwhile, ECP also held two investment-centered events in Angola and Senegal. Firstly, an exclusive invite-only event in Angola, which connected the country’s public and private sector elite for a gala dinner and two-day conference, represented the official meeting place for the country’s oil industry and set the stage for sizable deals and partnerships for 2022. Following this event, ECP hosted the first-ever MSGBC Oil, Gas & Power conference and exhibition, representing the entire region from Mauritania to Guinea. Through case study analyses, comprehensive presentations and exclusive networking events, the event detailed regional investment opportunities with the aim of kickstarting energy growth in the MSGBC region.

Meanwhile, in north Africa, ECP organized Libya’s first international energy event in over a decade. The Libya Energy & Economic Summit 2021 invited regional and international delegations to participate in the reopening of the Libyan economy, while providing a platform for industry-advancing deals to be signed. The most noteworthy of these includes the multiple agreements signed by French oil major, TotalEnergies, which included two agreements with Libya’s Government of National Unity and the General Electric Company of Libya (GECOL), for the development of 500 MW of solar photovoltaic power in the north African country. In April 2022, TotalEnergies and GECOL representatives met to discuss the next steps regarding project commencement.

What’s more, with the aim of introducing American companies to African opportunities, ECP organized the U.S.-Africa Energy Forum, promoting greater investment in African energy and advancing U.S.-Africa partnerships and cooperation. The event followed an online seminar and networking event organized by ECP in July 2021 which centered around exploring diverse investment and export opportunities across Africa.

Towards a Strong 2022 Event Calendar

In 2022, ECP’s event lineup will be no different, with the strong lineup of industry-advancing events expected to bring in millions of dollars’ worth of investment deals for Africa’s energy sector. This year, ECP will be organizing three large-scale events: SSOP ( returns for its fifth edition in September (13-14) following MSGBC Oil, Gas & Power 2022 (1-2) (, with Angola Oil & Gas 2022 ( taking place from November 29 and 30 to December 1. As global economies undergo a dramatic shift and investment in African energy reopens, these events will be instrumental in securing the capital needed to drive Africa’s energy expansion. All three conferences have wide-spread government support, are sponsored by some of the world’s leading energy and finance companies, and have confirmed an array of energy experts, industry executives and global investors as speakers. This year’s events are even more concentrated around increasing investment in Africa and comprise the necessary panel discussions, engagement sessions and investor summits to do just that. In this regard, ECP is well positioned to meet its target of exceeding $2.5 billion in deals for 2022.

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

For more information on ECP’s 2022 event calendar, please visit Interested in connecting and learning more about how you can secure investment for your project? Contact our sales team at [email protected] and let us kick-start your journey. 

This Press Release has been issued by APO. The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. The issuer is solely responsible for the content of this announcement.

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Are events overtaking the long-delayed Eco in West Africa? – African Business

Are events overtaking the long-delayed Eco in West Africa? - African Business

With the latest 2020 launch deadline postponed because of the onset of the Covid-19 pandemic, and no new timetable in place, there are concerns about whether the eco continues to be a viable proposition.

This is despite the many advantages a common currency offers the 15 members of the Ecowas trading bloc.

Removing trade and monetary barriers and meeting these targets across the region would have significant benefits for the countries involved.

Meeting the convergence requirements would instil greater fiscal discipline in the region and provide a mechanism for unlocking improved transactional efficiencies and ensuring more predictable monetary policy and inflation management as well as reduced risk.  

Having a common currency would remove trade and monetary barriers, boosting economic activity and economic upliftment in this region of approximately 385 million people. This, in turn, would be a catalyst for new investment in the region.  

But with no new date set for the launch, there are concerns the project may be drifting.  

Of the 15 countries in the region, eight use the CFA Franc with seven using other currencies, which are not freely convertible.  

Meeting the criteria for convergence in the region has proved to be a major challenge for big and small countries. The primary criteria include single-digit inflation at the end of each year; a fiscal deficit of no more than 4% of GDP; central bank deficit financing of no more than 10% of the previous year’s tax; and sufficient gross external reserves to give import cover for a minimum of three months. 

The six secondary criteria include tax revenue greater than 20% of GDP, wage bill-to-tax equal to or less than 35%, public investment-to-tax revenue equal to or greater than 20%, a stable real exchange rate and a positive real interest rate.

The disruption caused by the pandemic has led some countries to look at new monetary strategies.  

The two English-speaking heavyweights have already shown little appetite for the Eco project. This is important, given their size and heft in the region, particularly Nigeria, which accounts for 65% of the regional GDP and about half of the population. 

The economic giant fears losing its fiscal sovereignty and having to fall in line with regional policy. in addition, it is one of just two oil producers in the region, which it may need to employ monetary policy responses to terms of trade shocks that would not be favourable for other members of Ecowas. 

The introduction of digital currencies by the central banks of Nigeria and Ghana have raised concerns that they are already leaving the Eco project behind.  

The launch of the African Continental Free Trade Area in 2021 has also led to concerted efforts by key stakeholders to find ways to improve the ease of trading across borders in the absence of a common currency. 

One such initiative is Afreximbank’s Pan African Payment and Settlement System (PAPS), which will enable instant, cross-border payments in local currencies between African markets. This may not replace the benefits of a common currency, but could lessen the appetite for it, given the other challenges of the project.

Many of the challenges plaguing the Eco are economic, but there are also political considerations. 

Both the French president and that of Cote d’ivoire have said the Eco will maintain a peg to the Euro and guarantees provided by the French Treasury to maintain its stability even though French officials will not longer be represented on its governing bodies and a requirement that Eco member states keep half their foreign reserves in France will be rescinded. 

However, non-Francophone countries have objected strongly to the new currency having any official links to a former colonial power. 

It has now been more than two decades since the proposal for a common currency was first mooted, with the launch postponed four times, including in 2014. 

There have been efforts to streamline the plan. The original plan to stagger the adoption of the currency in two phases was changed in 2014 to have all member states make the change at the same time. 

But almost all countries still fail to meet the convergence criteria, with Togo being, to date, the only one of the 15 members to do so.  Despite this, the supporting regional infrastructure is in place, including institutions such as the Central Bank of West African States. 

There are many other complex issues that need to be finalised such as addressing exchange rate mechanisms, policy harmonisation measures to control reserves and finding an exit strategy for those using different currencies. 

The West African Monetary Institute and West African Monetary Agency have been created to drive the common currency project and the longer the delays, the cost of maintaining them will also increase.   

Ecowas leaders suggesting that the launch was unlikely to happen before 2025 because of the pandemic’s likely economic impact on an already fragile region.

But on the current trajectory, another postponement may be in the pipeline. Something needs to change. Perhaps the convergence criteria need to be less stringent to get the project off the ground and all objections and concerns voiced and addressed. 

Shifting launch dates will not address the many other problem plaguing this project. And all the while, the benefits of such a monetary union are being cast to the wind.    

Lamin Manjang is the Cluster CEO, West Africa & Chief Executive Officer of Standard Chartered Bank Nigeria Limited

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South African Swing, the results of six events

South African Swing, the results of six events

The 2022 Road to Mallorca kick-started with six co-sanctioned events between the European Challenge Tour and Sunshine Tour in South Africa.

Dimension Data Pro-Am

A strong field entered the season opening Dimension Data Pro-Am at Fancourt Golf Estate, including two-time U.S.

Open Champion Retief Goosen. The South African won the U.S. Open in 2001 and 2004 and has also won the DP World Tour Order of Merit on two occasions. Germany’s Alexander Knappe secured his first win for over five years by posting four bogey-free rounds at the Dimension Data Pro-Am.

The three-time Challenge Tour winner birdied the 72nd hole to finish one-stroke victory ahead of two-time DP World Tour winner Dean Burmester on 23 under par. Bain’s Whisky Cape Town Open JC Ritchie successfully defended his Bain’s Whisky Cape Town Open title after holing a 25-foot birdie putt on the final hole for a one-shot victory at Royal Cape Golf Club.

The South African posted a final day four under par round of 68 to reach 18 under par, one clear of Belgium’s Christopher Mivis, who raced through the field on the final day to set the target at 17 under par. Jonsson Workwear Open Ritchie made it back-to-back wins on the Challenge Tour after he secured a wire-to-wire six-shot victory at the Jonsson Workwear Open and subsequently moved to Number One on the Road to Mallorca Rankings.

The ten-time Sunshine Tour winner got off to a special start in Durban after he carded a course-record nine under par opening round of 61 on his 28th Birthday, which included a hole in one at the par three second hole. Mangaung Open Oliver Hundebøll secured a dramatic maiden Challenge Tour victory at the Mangaung Open after he carded a six under par final round 66 to reach 21 under par.

The Dane entered round four five shots off the pace but carded seven birdies and just one bogey to record a one-shot victory in Bloemfontein. Jbe Kruger carded a course record 61 in round three at Bloemfontein Golf Club, his local course, and the South African eventually finished in a tie for sixth place.

SDC Open Clément Sordet secured his fifth Challenge Tour title at the SDC Open after defeating South African Ruan Conradie in a play-off. Sordet birdied the first extra hole to defeat home favourite Conradie, who could only make par, and secure his first victory since the 2017 NBO Golf Classic Grand Final, a year in which he finished second on the Challenge Tour Rankings behind Finland’s Tapio Pulkkanen.

Limpopo Championship Mateusz Gradecki claimed a maiden Challenge Tour victory in dramatic style at the Limpopo Championship, becoming only the second Challenge Tour winner to hail from Poland after Adrian Meronk. The 27-year-old entered the final round five-strokes behind Hundebøll but carded a brilliant bogey-free six under par round of 66 at Euphoria Golf Club to reach a 19 under par total and finish three shots ahead of South African Hennie du Plessis.

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Cornwall-based African Caribbean group holds Black History Month event

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A series of virtual events celebrating Black History Month and being presented by the African Caribbean and International Association of Eastern Ontario is underway.

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An opening ceremony and welcome words of participants in their languages was held early on Tuesday evening, the first of five days of events.

“The big day is Saturday,” said Calixte Yepseu, the ACIAEO president. “There’ll be quite a few activities.”

Following the opening Tuesday, cooking workshops were held, and the virtual events on Zoom will continue on Wednesday.

The ACIAEO, based in Cornwall, lists as one of its purposes and objectives implementing programs designed to create and maintain a sense of cultural pride among its members. The organization looks to develop and implement cultural exchange programs and activities within the community, and provide a supportive and safe forum assisting  in members’ integration efforts – culturally, socially, economically, professionally, and academically.

Yepseu said the ACIAEO was founded in 2015, and it’s had Black History Month activities each year, but of course has had to pivot in format.

“For the last two years our events have been (virtual),” Yepseu said.

Speakers during the week will include Cornwall Mayor Glen Grant, Yepseu, ACIAEO founder Kemi Micho, MP Eric Duncan, ACIAEO vice-president Jacinta Gwanyama, and CMHA-Champlain East mental health promoter Angele D’Alessio.

Wednesday’s programming is from 6-7 p.m. and will be a presentation focusing on mental health and COVID-19. On Thursday, from 6:10 to 6:40 p.m., there’s an ACIAEO presentation in French, and on Friday (6:25 to 7:55 p.m.) there’ll be an ACIAEO English presentation.

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The series wraps up on Saturday, beginning at 4 p.m. and concluding with closing remarks at 5:45 p.m. Grant and Duncan will both speak on Saturday, and there will be various presentations, including on the Black History Month theme, African culture and African dance.

The ACIAEO on its information page says “we’ve all immigrated to Canada to discover the Canadian culture and make the country our new home. We are all African descendants including the Caribbeans through birth or marriage. All of us are hard-working, very creative, highly intelligent and have a good education background. We are very sociable, we share in the joy and suffering of anyone and everyone around us. We enjoy living together, we are proud and happy to be Canadians.”

The ACIAEO says it is an apolitical organization, one providing a forum for members to share information about current events in their various heritage, but not promoting nor bashing the agenda of a political organization.

The Black History Month events can be accessed by the Zoom link, or by phone at 613-808-8090 (password 300333).

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56 African heritage sites threatened by extreme coastal events: Study

Around 56 heritage sites in Africa are vulnerable to extreme coastal events and erosion, according to a new study. They are at the risk of being damaged by these factors and the number of exposed sites may more than triple by 2050, the report added.

These include the iconic ruins of Tipasa in Algeria and the North Sinai archaeological sites zone in Egypt, the global team of climate risks and heritage experts said. 

North Africa has the largest number of exposed sites (23), according to the report published in the journal Nature Climate Change. 

West Africa has 18 exposed sites, Southern Africa has seven, East Africa and Small Island Developing States (SIDS) each have four each. 

Morocco and Senegal have seven exposed sites each and Egypt has four. No central African sites are currently exposed, the study found.

The researchers created a database of 284 coastal African heritage sites, combining 213 natural and 71 cultural African heritage sites to assess exposure to coastal flooding and erosion under moderate (representative concentration pathway 4.5) and high (RCP 8.5) greenhouse gas emission scenarios.

At least 151 natural and 40 cultural sites will be exposed to rising sea levels from 2050. Countries which are projected to have all their coastal heritage sites exposed by the end of the century are Cameroon, Republic of the Congo, Djibouti, Western Sahara, Libya, Mozambique, Mauritania and Namibia. 

“We modelled climate risks for sites that are supported by the World Heritage Centre or the Ramsar Convention, but there are hundreds of sites that are not supported,” said Joanne Clarke, climate and heritage researcher with the University of East Anglia and author of the report. He added:

Many [unrecognised sites] are incredibly fragile and important to local communities. Really pressing are indigenous sites, which may not have global recognition but are highly valued to local people.

Sea levels around Africa rose at a faster rate than the global average over the past three decades, according to the Intergovernmental Panel on Climate Change.

The findings of this study highlight the urgent need for increased climate change adaptation for heritage sites in Africa, including governance and management approaches, site-specific vulnerability assessments, exposure monitoring and protection strategies.