Global oil demand is projected to grow 10% by 2028 and 16% by 2045. For African service providers, this presents an opportunity to support operational excellence across oil and gas projects while promoting low-carbon solutions. Africa’s premier event – African Energy Week (AEW): Invest in African Energy – spoke with Jorge de Morais, General Manager of Angolan-based oilfield services company Kaeso Energy Services, one of Angola’s leading oilfield services’ companies, about its innovative approach to oilfield services.

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 www.AECWeek.com for more information about this exciting event.

How does Kaeso’s experience and innovative approach to oilfield services differentiate the company from others in the industry?

At Kaeso, our leadership team’s combined experience of many decades significantly differentiates us within the oilfield services sector. This deep-rooted expertise informs our strategic approach, which is anchored in five foundational pillars: leveraging local workforce, introducing strong value-added niche products, maintaining robust infrastructure, ensuring competitive pricing and upholding a robust foundation of ethics, safety, quality and trust.

How does Kaeso’s approach to asset management help clients realize value through sustainability and digitalization? How does the company balance operational excellence with decarbonization?

Our partnership with Global Gravity to offer Tubelock technology revolutionizes tubular handling, minimizing physical damage and reducing the associated carbon emissions from transportation and handling. Kaeso Equipment Management System utilizes cutting-edge digital tools to optimize equipment usage and maintenance schedules. Our Metal Structure Repair and Construction services focus on extending the life of metal structures, which is crucial for minimizing environmental impact.

Balancing operational excellence with decarbonization is at the forefront of our business model. We employ a strategic mix of technology and traditional methods to ensure that our operations are not only efficient but also progressively less carbon-intensive.

Does the company have plans to expand its service offerings regionally? What markets stand out as being strategic for Kaeso’s long-term vision?

Expanding our service offerings regionally is a key part of our strategic vision at Kaeso. The positive results from our initial implementation of operations in Namibia have instilled confidence in our ability to replicate this success in other countries as well. Our goal is to enter regions where we can deliver significant value to our clients and make a positive impact on the local communities. Our expansion strategy is guided by thorough market research and client feedback. We prioritize regions where we can leverage our existing expertise while also contributing to local development.

In what ways does Kaeso’s consulting expertise add value to specific projects in the oilfield sector, and what criteria does the company use to match talents with company’s needs?

At Kaeso, our consulting expertise is strategically focused on filling gaps in the market, particularly where there’s a scarcity of local skill sets. A prime example of this is our involvement in a significant project centered on lifting training within the industry. We identified a clear void in market offerings and responded with tailored training modules that elevated the skill levels and safety standards of the workforce.

When it comes to matching talents with our company’s needs, we employ a rigorous criteria based on expertise, cultural fit, and a demonstrated passion for advancing safety and quality standards, particularly in areas like Quality, Health, Safety, and Environment and data analysis.

Please provide insight into Kaeso’s partnership with TUBOSTRANS for the Wellbore Clean Out Alliance. What other partnerships or contracts are in the pipeline?

This collaboration not only enhances our service offerings but also strengthens the local economy by leveraging local expertise and resources. It allows us to deliver services with a greater understanding of the local context, ensuring that our solutions are not only effective but also culturally and environmentally appropriate.

We have several exciting partnerships and contracts in the pipeline that highlight the value of local-based service providers. These collaborations are pivotal as they allow us to tap into local innovations and specialties, which are crucial for the industry’s growth. While we currently rely on foreign technology to deploy our services, our goal is to continue to foster and invest in local capabilities.

How will platforms such as AEW: Invest in African Energy support the company’s regional aspirations?

Platforms like AEW align perfectly with Kaeso’s regional aspirations, mainly due to the convergence of our objectives and values with those of the event. AEW is a prominent forum that emphasizes innovation, sustainable practices, and the development of local capacities within the energy sector across the continent.

Participating in such a platform allows us to showcase our capabilities, network with industry leaders, and forge partnerships that are crucial for our expansion plans. It also provides a vital opportunity to exchange ideas on best practices and emerging trends, helping us to stay at the forefront of technological and operational advancements.

What does the company hope to gain from this year’s event in terms of connections, deals and industry partnerships?

We see this event as a pivotal platform to initiate meaningful conversations that could lead to fruitful collaborations and deals. By showcasing our innovative solutions and demonstrating our commitment to sustainability and local development, we hope to attract partners who share our vision and values.

Additionally, connecting with potential hiring candidates will help us tap into local talent, enriching our team with individuals who can drive our regional operations forward. Engaging with investors at the event is also critical, as their support can accelerate our expansion plans and enhance our capability to deliver high-value projects across the region. Overall, our participation in this year’s event is expected to be a cornerstone for future growth, helping us to establish new partnerships and expand our industry footprint effectively.

Distributed by APO Group on behalf of African Energy Chamber.

Ecobank Transnational Incorporated (“ETI”) (www.Ecobank.com), the parent company of the Ecobank Group, today held its 36th Annual General Meeting in Lomé, Togo, which was followed by an Extraordinary General Meeting. Shareholders applauded the Group’s strong performance in 2023 with its net revenues exceeding US$2 billion mark for the first time in nearly 10 years. They also noted that this performance was achieved in the face of significant macro-economic headwinds such as high inflationary and interest rate environment, local currency depreciation, and geopolitical tensions.

The Group achieved profit before tax of US$581 million, up 8 per cent from US$540 million in 2022. In constant currency (i.e. excluding the adverse effects of translating local currencies into ETI’s reporting currency the US dollar), the increase in profit before tax is 34 per cent. The Group recorded a record low cost-to-income ratio of 54.9 per cent.

Alain Nkontchou, Chairman, Ecobank Group, said: “2023 was an encouraging year for our Group. Our organisation has shown resilience in a rapidly changing operating environment. The Board is proud of what our employees around the continent and in our affiliates in other regions have achieved, collectively and individually.”

Jeremy Awori, Chief Executive Officer, Ecobank Group, commented: “Ecobank delivered a strong performance in 2023, demonstrating the competitive advantages of our resilient, diversified business model and the early results of our new Growth, Transformation and Returns strategy.We demonstrated financial prudence by carefully managing our shareholders’ capital, ensuring customer satisfaction at every touchpoint, and making informed decisions about pricing our assets and liabilities. We are confident that our strategy is paving the way for our continued success and growth.”

The AGM also approved the appointments of Papa Madiaw Ndiaye, Louis Adande and Terence G. Sibiya as Non-Executive Directors succeeding the retiring Directors. Alain Nkontchou, Mfundo Nkuhlu and Hervé Assah stepped down from the Board after completing their terms of office.

Immediately after the General Meetings, the Board of Directors appointed Papa Madiaw Ndiaye as the incoming Chairman of Ecobank Transnational Incorporated. He is taking over from Alain Nkontchou. Papa Ndiaye is the Chief Executive Officer and Founding Partner of AFIG Funds, a leading private equity fund management company focused on Africa. He has a proven track record of leadership and the creation of shareholder value and a deep commitment to Ecobank’s mission and strategic agenda.

Papa Ndiaye, ETI’s new Chairman, said: “I have long admired Ecobank Group’s successful development across Africa, and I am looking forward to working with Jeremy and ETI’s Board to steer the Bank through the next and exciting phase of its journey. With its strong foundation and numerous competitive advantages, I see Ecobank as strongly positioned to accelerate its growth trajectory and play an even greater role in driving the continent’s economic development in this era of rapid technological changes.”

Jeremy added that: “With his strong experience and knowledge, particularly in investing in financial services, Papa Ndiaye’s appointment as ETI’s Chairman is a significant step in reinforcing our position as the leading pan-African banking Group. We are excited about the future under his guidance and look forward to achieving our Growth, Transformation and Returns strategy, while enhancing our service delivery.”

Ecobank has recently implemented its new Growth, Transformation and Returns strategy to create shareholder value and deliver sustainable growth. The strategy’s multiple initiatives and actions include entrenching its leadership position in affiliates in which it has high market shares; transforming its business performance in Nigeria and in subscale markets; solidifying its leadership in Corporate and Investment Banking; growing its Commercial Banking and Consumer Banking businesses; and growing volumes and total value on its payment ecosystem.

The Shareholders approved all the resolutions presented at the AGM, including the Approval of the Accounts, the Appropriation of the Profits, the renewal of mandates of Directors, and the election of Directors.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated.

Media Contact: 
Christiane Mbimbe Bossom, 
Group Corporate Communications Manager 
Email: groupcorporatecomms@ecobank.com 
Tel: +228 22 21 03 03 

About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’): 
Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 15,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit Ecobank.com.

A consortium, including the African Development Bank (www.AfDB.org), has signed an agreement to extend $94 million in senior debt funding to PMD Assetco Limited (PMD) for the construction and operation of a floating dock ship repair facility in Ghana’s western Takoradi port.

Other consortium members are the African Export-Import Bank (Afreximbank), the Eastern and Southern African Trade and Development Bank (TDB), and Petra Pension Schemes.

With this milestone, the project, nicknamed “Shiprite,” has secured the total commitment of all providers for the required $137 million in capital. When completed, the facility will house a new 13,500-ton lift-capacity floating drydock, 30,000 square meters of reclaimed land, a 200-meter jetty, a modern workshop, offices, and heavy marine equipment.

Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, Afreximbank, emphasized the project’s strategic significance: “The strategic location of this facility will provide shipowners whose vessels trade within the Gulf of Guinea with world-class repair and maintenance services. As the Mandated Lead Arranger, we are confident that Shiprite will enhance intra-African trade and foster regional economic growth and integration. By providing services that would have otherwise been lost to foreign shipyard repair facilities, the interventions of Prime Meridian Docks will retain much-needed foreign currency within the continent.”

Mike Salawou, Director for Infrastructure, Cities and Urban Development at the African Development Bank, highlighted the socio-economic benefits. “With over 400 new jobs expected to be created, of which more than 15% will be reserved for youth and women, the socio-economic impact of Project Shiprite is a compelling proposition for the Bank”.

Michael Awori, Chief Executive of TDB, said: “TDB is pleased to co-finance Project Shiprite, a ground-breaking project in West Africa which will enable considerable cost and time savings for shipowners in need of maintenance and repair solutions in proximity and in line with international standards, thereby enhancing the efficiency of their operations. Ship owners with operations in several countries in the region need to travel up to 5,500 km away in some cases to obtain the same services. The project will reduce the carbon footprint of shipowner operations as a result, in addition to generating forex, boosting the local economy, creating jobs, and improving infrastructure and logistics in Ghana, which became a TDB Member State in 2022.”

Chris Hammond, Chairman of the Boards of the Petra Advantage and Petra Opportunity Pension Schemes, said, “The participation of the Petra Pension Schemes in Project Shiprite represents a pioneering move by these pension funds into Project Finance and Infrastructure fund investments. This initiative supports the broader diversification agenda of the schemes and the wider local pensions industry.”

Jobalo Oshikanlu, Deputy CEO of ARM-Harith Infrastructure Fund, PMD’s long-standing development and equity partner, remarked: “We are proud to reach this milestone, having worked through the years with yet another resilient African sponsor in overcoming the bankability challenges in what promises to be a game-changing piece of infrastructure in the region.”

Stanley Raja Korshie Ahorlu, the project’s Lead Sponsor, affirmed, “PMD Assetco is poised to commence the construction of both the civil works and the floating dock and looks forward to entering the market timeously to support shipowners in the region as international shipping works towards reducing greenhouse gas emissions.”

PMD is a Ghanaian ship repair company with Free Zones Service Enterprise status and a 25-year concession from the Ghana Ports and Harbours Authority. The company has benefited from the support of international partners and advisers over the past years.

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

Photos: https://apo-opa.co/3Xc8F6C

Media contact:
Kwasi Kpodo
Communication and External Relations
African Development Bank
media@afdb.org

Technical contact:
Hassen Ben AYED
H.BENAYED@AFDB.ORG

About the African Development Bank Group:
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa’s development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org

The Union Catholique Africaine de la Presse (UCAP), that is the African Catholic Union of the Press, and its Malian section – the Association des Journalistes Catholiques du Mali (AJCM) – in collaboration with the Malian Episcopal Conference, are organising an international seminar called Refresher Program on the theme “Sahel – safety – accountability, what roles for believing journalists?”, from 11 to 17 August 2024, in Bamako, Mali.

The Union Catholique Africaine de la Presse (UCAP) is a continental organisation of media practitioners based in Lomé (Togo). One of UCAP’s main objectives is to contribute to the personal and spiritual growth of media practitioners, particularly journalists and communicators. The organisation serves as a meeting point and coordination centre for apostolic and professional activities relating to evangelisation and human development. UCAP has also actively expanded its network of collaboration with non-Catholic organisations within the scope of its operational activities.

The coming international seminar will take place at the Centre Abbé David located on the banks of the Djoliba river in Sébénikoro, District of Bamako, and aims to explore the significant roles that journalists can play in understanding and resolving security challenges in the Sahel region in particular and in Africa in general. The event will bring together experts, Catholic media professionals and journalists from all over Africa, regardless of religion.

AJCM and UCAP, as the voice of the Church and other stakeholders, are uniquely placed to raise awareness of security concerns on the continent and highlight successful initiatives that inspire others to adopt behaviours and practices conducive to social cohesion, peace, security and development on the continent and globally.

Registration for this seminar is open until 3 July 2024.

For information and registration for this Refresher Program of the Association des Journalistes Catholiques du Mali (AJCM – UCAP Mali), please contact us at the address below. We also invite all individuals and organisations interested in issues of peace, security, accountability, media development and sustainable human development to contact us for any financial, material and/or technical support to ensure the success of this seminar.

Distributed by APO Group on behalf of African Catholic Union of the Press (UCAP).

Contact us:
E-mail: zufodembele@gmail.com  
ucap.official@gmail.com    
Phone: +223 70222998, +228 99802198

Press Contacts:
Father Alexis DEMBELE
President of AJCM (UCAP Mali)
Ecclesiastical Adviser to UCAP
Tel: +223 70 22 29 98
E-mail: zufodembele@gmail.com
Bamako, MALI

Charles AYETAN
President of UCAP
Tel. +228 99 80 21 98
E-mail: ucap.official@gmail.com
Lomé, TOGO

About AJCM :
The Association des Journalistes Catholiques du Mali (AJCM), whose aims are in harmony with those of the Union Catholique Africaine de la Presse (UCAP) in general, is to promote in press circles a Christian conception of information and of the journalistic profession; to defend  journalism and the interests journalistists; to increase, through mutual aid, the quality of the Catholic press and its influence throughout the world; to collaborate with any association or organisation with the same objectives. The AJCM is affiliated to the African Catholic Union of the Press (UCAP).

About UCAP :
The African Catholic Union of the Press (UCAP) is a continental organisation dedicated to the promotion of media and communication within and outside the Catholic Church, with partners who share its vision and goals for a better world. Its mission is to foster spiritual growth, collaboration and responsible journalism. UCAP works tirelessly to spread Gospel and human values, but also to support development initiatives across the African continent.