By Boris Esono Nwenfor, Pan African Visions
In a vote of thanks following the profitable group of the Put money into African Vitality occasion on 26 January 2023 on the Waldorf Lodge in London, NJ Ayuk, Govt Chairman of the Africa Vitality Chamber, AEC, says extra sturdy and technical dealmaking is predicted on the 2023 version of the African Vitality Week, AEW.
Attended by over 500 folks the high-powered occasion allowed stakeholders to have interaction in non-public conferences with a number of high-level authorities and firm representatives from the African power market.
“British hospitality was evident throughout the event, with unprecedented commitments to invest in Africa’s burgeoning energy sector. We thank you for the advice and insights you have shared with us on how to accelerate Africa’s transformational energy developments,” mentioned NJ Ayuk, Govt Chairman of the Africa Vitality Chamber, AEC.
“We believe that for Africa to make energy poverty history among its population by 2030 – while contributing to global energy security and a just and inclusive energy transition, on the back of optimal development and exploitation of vast energy resources including oil, gas, hydrogen and renewables – we need to do it together. We have listened and we are committed to growing together.”
NJ Ayuk added: “Investing in African Energy and driving free enterprise is not something the AEC can do alone. We need every person who believes in the free enterprise values of individual initiative, hard work and freedom of choice to stand with us. We need you to spread the word in your communities and remind people that free enterprise and oil and gas — even with their flaws — have done more to improve our condition than any other economic and energy system.”
Based on Rystad Vitality – “Energy Addition for Africa” – Sub-Saharan Africa holds 140 billion barrels of oil equal, of which solely one-third is developed and two-thirds of undeveloped assets are pure fuel. New funding in oil and fuel exploration and manufacturing is important, not solely to maximise current discoveries alongside Africa’s 40,000-km shoreline but in addition to satisfy rising power demand globally and stabilize value hikes.
“Africans want to partner with UK businesses and financial institutions. Why? They want to partner because the UK has demonstrated its commitment to democracy, the rule of law and strong government institutions. 2022 was a difficult year for many Africans, but I remain optimistic that better days lie ahead, if only we return to the free enterprise principles that have served us so well,” NJ Ayuk added.
“While the energy crisis across Europe is threatening jobs and economic developments – and energy poverty in Africa, especially in South Africa where blackouts have become the norm and the downfall of Africa’s manufacturing powerhouse, disrupting the continent’s socioeconomic developments – now more than ever is the time for UK investors and energy companies to maximize energy partnerships with Africa.”
The Chamber believes that now’s the time to optimize and make sure the sustainable improvement and exploitation of Africa’s oil and fuel assets. The Chamber is dedicated to persevering with its partnership with African policymakers and UK buyers and companions to create an enabling setting and facilitate Africa’s power sector enlargement.
The third version of African Vitality Week is billed for October 16-20
Following a profitable 2022 version the place $2.5 billion value of offers to reinforce Africa’s power panorama had been signed, AEW 2023 might be greater and higher, in keeping with the Govt Chairman of the Africa Vitality Chamber.
The 2023 version of the African Vitality Week convention and exhibition – Africa’s premier occasion for the power sector, might be held from October 16 – 20 in Cape City because the AEC continues to be a number one voice in shaping and accelerating African power developments.
“The AEC will continue to campaign for increased investments and private sector participation, and drive market liberalization of Africa’s energy sector by hosting many Invest in African Energy dialogues and deal signings with UK and African policymakers, private sector partners, energy stakeholders and investors,” mentioned NJ Ayuk.
“We would like you to continue to engage with our team throughout this year, as we promise more robust and technical dealmaking at AEW 2023. With the Invest in African Energy event in London a success, our road to Cape Town – where vast investment and partnership opportunities across Africa’s hydrocarbon-rich basins for global energy firms and investors will be showcased – started in London.”
The AEC opposes any proposals to silence the voice of those that consider in free markets, restricted authorities, and our proper to drill for pure fuel whereas quickly growing renewables.
Hyperlink to authentic article: http://bit.ly/3wSDw9W
Distributed by APO Group on behalf of Pan African Visions.
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