Local content will be one of the central pillars of the upcoming Namibia International Energy Conference (NIEC) (https://apo-opa.co/3wlRmF1) 2024 – taking place in Windhoek on April 23-25 – which unites Namibian stakeholders with international investors and creates a platform for local companies to showcase services and attract investment. Leveraging innovative strategies and a high-caliber network to unlock value within Namibia’s extractive sectors, NIEC 2024 will feature a dedicated panel under the theme, Promoting Local Content: Maximizing Opportunities in the Energy Value Chain.

Namibia’s Ministry of Mines and Energy has placed local content at the heart of the country’s oil and gas agenda and is currently formulating a local content policy (LCP) to ensure the participation and inclusion of Namibians ahead of future production. A draft policy was published by the Ministry last November, while a cumulative process to develop a comprehensive policy for the upstream petroleum industry has been initiated with stakeholders within the sector. Meanwhile, Namibia’s Green Hydrogen and Derivatives Strategy Report – published in November 2022 – showcases the potential of the country’s emerging green hydrogen industry to create up to 80,000 jobs, while contributing up to $6 billion to GDP.

Energy Capital&Power is a strategic partner of the Namibia International Energy Conference (NIEC) – taking place in Windhoek on April 23-25, 2024. The 6th annual conference unites industry leaders, business executives and policymakers to engage in dialogue, exchange ideas, create new partnerships and identify strategies to foster a prosperous energy industry in Namibia and beyond. For more information, please visit https://www.NIEConference.com/. 

Panelists include Maggy Shino, Petroleum Commissioner of Namibia’s Ministry of Mines and Energy; Nillian Mulemi, CEO of the Petroleum Training and Education Fund; Nosizwe Nokwe-Macamo, African Energy Chamber Advisory Board Member and former CEO of PetroSA; Anabela Marcos, General Manager of SONILS – Sonangol Integrated Logistics Services; and Engr. Simbi Kesiye Wabote, former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB). 

Local Content Development on the Back of Major Discoveries

A series of commercial discoveries in the offshore Orange Basin has positioned Namibia as one of the most sought-after exploration markets globally. Last month, French supermajor TotalEnergies intersected hydrocarbon-bearing intervals at its Mangetti-1X exploration well, while Portuguese energy company Galp announced two consecutive oil discoveries at the Mapone complex in the first months of this year. This follows four commercial discoveries by supermajor Shell in 2022 and 2023, as well as the Venus-1X discovery by TotalEnergies in 2022.

These discoveries have the potential to create thousands of jobs and contribute billions to the country’s GDP, with some estimating that Namibia’s economy could double by 2040. As a result, regulatory bodies, such as the Namibian Competition Commission, are advocating for mandatory investment in local content development as a condition for license awards and acquisition approvals. Effective LCPs serve as a key catalyst for growing the role of national companies and service providers across the sector, with nascent energy sectors like Namibia’s standing to gain valuable insight from existing African producers. 

Namibia is also prioritizing local capacity building ahead of first production, with the soon-to-be-launched Namibia Offshore Training Center offering comprehensive training in exploration, petroleum engineering and geoscience and representing the first facility of its kind in the country. Meanwhile, a cooperation agreement signed between national oil company NAMCOR and QatarEnergy in March 2022 provides a framework for the training and development of NAMCOR employees in industry skills. 

As Namibia continues to foster partnerships and promote capacity building programs, NIEC 2024 serves as a valuable platform to share best practices when it comes to local content development, as Namibia works to establish its own LCP. 

“Having worked in our country’s energy sector for years, local content is important for Namibia and for the in-country value creation that will give our young people and entrepreneurs jobs, business opportunities and much-needed capacity building. The government’s pragmatic and common sense approach works for both citizens and industry, which continues to create a win-win platform,” says Selma Shimutwikeni, CEO of RichAfrica Consultancy, organizers of NIEC 2024. 

“The active participation and development of Namibian labor and suppliers before first oil is key. The benefits coming from the huge capital expenditures in appraisal and development activities on labor, goods and services will benefit Namibia’s industry, economy and wider society, and this panel speaks to that interplay.” 

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

Engr. Simbi Kesiye Wabote, former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), will speak at the upcoming Namibia International Energy Conference (NIEC) 2024, unlocking newfound collaboration between the two countries on local content policy development and implementation. 

Since his appointment in 2016, Wabote has been a fierce advocate of local beneficiation for both Nigerians and Africans across the sector, steering strategic national programs to build local capacity, calling for enhanced transparency in contracting processes and boosting local manufacturing capabilities. The NCDMB serves to review Nigerian content plans developed by operators, set guidelines and minimum content levels for project-related activities across the oil and gas value chain and engage in targeted capacity building interventions, among other key responsibilities, with a view to achieving 70% local content by 2027. 

Energy Capital&Power is a strategic partner of the Namibia International Energy Conference (NIEC) – taking place in Windhoek on April 23-25, 2024. The 6th annual conference unites industry leaders, business executives and policymakers to engage in dialogue, exchange ideas, create new partnerships and identify strategies to foster a prosperous energy industry in Namibia and beyond. For more information, please visit https://www.nieconference.com/

Having spent 26 years at Shell Petroleum Development Company Nigeria, Wabote offers a unique private sector perspective on local content development and compliance, with roles spanning business management to government relations to local content strategy. During his tenure at the NCDMB, Wabote established a series of impactful initiatives including the $350-million Nigerian Content Intervention Fund, which provides affordable credit for Nigerian oil and gas service companies and local contractors, as well as the $40-million Women in Oil and Gas Intervention Fund, created in partnership with the Nigerian Export-Import Bank. 

These policy interventions, pioneered by the NCDMB under Wabote’s leadership, could serve as a blueprint for other African countries seeking to directly translate oil and gas revenues into local content development. Namibia, for its part, is in the process of drafting its own National Upstream Petroleum Local Content Policy, following a series of high-profile offshore discoveries since 2022. The southern African country is seeking to establish an effective policy that enables training and skill development, job creation and the participation of national companies and service providers across the sector, with a view to generating and retaining local value. 

As Namibia’s Ministry of Mines and Energy continues to consult with stakeholders on its draft policy, NIEC 2024 represents a valuable platform to exchange local content best practices, as well as catalyze new investment in infrastructure, capacity building and technology. The NCDMB is one of the key features that sets Nigeria’s local content policy apart in that it oversees and implements the Nigerian Oil and Gas Industry Content Development Act, while forming strategic partnerships with leading industry players and educational institutions. 

“As an emerging producer, Namibia can learn from mature markets like Nigeria when it comes to establishing a comprehensive local content framework with specific guidelines. Engr. Simbi Kesiye Wabote has been a long-time champion of accelerating indigenous participation in oil and gas contracts and ensuring that policy interventions support national local content targets. A well-formulated local content policy is critical to creating both backward and forward linkages across Namibia’s value chain that ensure oil and gas resources are leveraged for inclusive growth,” says Selma Shimutwikeni, CEO of RichAfrica Consultancy, organizers of NIEC 2024. 

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

On Friday, March 15, 2024, the annual Dealmakers Africa Award Gala took place in Lagos, Nigeria. DealMakers is the pre-eminent league table agency for Africa.

At the awards, it was announced that Verdant Capital was ranked joint 2nd by deal flow in 2023 in the prestigious DealMakers Africa M&A leagues tables for the East Africa region overall. This is the fourth successive year that Verdant Capital has been placed in the top three in East Africa.

Verdant Capital also won joint 2nd place overall in the pan-Africa (ex-South Africa) region. Verdant Capital has been placed in the top five in the Pan-Africa region for three consecutive years. Verdant Capital has maintained its high league table ranking consistently in the African region over a period of heightened volatility in global and regional capital markets and over a time of significant macro-economic stress in specific countries. The consistency of Verdant Capital’s performance is a testament to the quality of the support it provides its clients and its tenacity in completing transactions in difficult markets.

In 2023, Verdant Capital completed M&A and private capital transactions in East, West, Central and Southern Africa. Verdant Capital’s landmark transactions completed in 2023 included the sale of Unguka Bank in Rwanda and advising on an acquisition in South Africa for Saint Gobain, the Paris-headquartered group ranking in the top 100 industrial companies in the World. Verdant Capital also advised five clients on debt and equity capital raisings.

Verdant Capital has been successful in bridging the African and global capital markets and structuring cross-border M&A in part because of its position as the IMAP member firm for its region. IMAP is a global M&A partnership founded in 1973, with members in over 40 countries and completing over 200 M&A transactions every year.

Overall, in recognition of the firm’s successes advising private equity firms on exits and facilitating new investments, Verdant Capital received accolades from the prestigious Africa Global Funds awards. The firm won Best Independent Advisory Firm – pan-Africa and Best Advisory Firm to Private Equity.

Distributed by APO Group on behalf of Verdant Capital.

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About Verdant Capital:
Verdant Capital is a leading investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis. www.Verdant-Cap.com.

One of the much-awaited global events for this year is undoubtedly the Summit of the Future (SOTF) scheduled in September 2024. SOTF is a once-in-a-generation opportunity to enhance cooperation on critical challenges and address gaps in global governance, reaffirm existing commitments including to the Sustainable Development Goals and the United Nations Charter, and move towards a reinvigorated multilateral system that is better positioned to positively impact people’s lives.

To ensure that diverse civil society perspectives are engaged in the preparatory process of SOTF 24 and the preceding 2023 SOTF Ministerial Forum to strengthen and revitalize multilateralism, the Global Futures Forum (GFF) led by the Coalition for the UN We Need (C4UN) in partnership with the African Union’s Economic Social and Cultural Council (ECOSOCC) took place in March 2023, in New York. As an Advisory Organ of the African Union, ECOSOCC undertook a number of civil society consultations to provide feedback and inputs on the ‘Pact of the Future’ including the virtual Town-Hall event (June 2023) culminating in the Continental Dialogue on the Summit of the Future which took place on 28th March 2024.

The Continental Dialogue drew the participation of a panel of experts, the ECOSOCC leadership and diverse African CSOs; it was organized with the aim of sharing information and raising awareness on the Summit of the Future to be held in New York in September and the Civil Society Conference that will be held in Nairobi in May, 2024.

The Summit of the Future is intended to advance ideas for governance arrangements in areas of international concern, and potentially others where arrangements are emerging or require updating.

UN member states will be asked to endorse a ‘Pact for the Future,’ a blueprint for international cooperation in the twenty-first century.

In his opening remarks, ECOSOCC’s Presiding Officer, Khalid Boudali emphasized the importance of CSOs in the consultative process on SOTF24.

 “ECOSOCC’s mandate promotes inclusive dialogue with a range of non-state actors in issues that push for good governance. Let us use the moment to bring Afrocentric insights in today’s dialogue. I extend gratitude for your unwavering commitment towards efforts that pursue peace and security on the continent and the world over,” he said.

Ms. Carole Agengo, Co-Chair of the United Nations’ Civil Society Conference in Support of the Summit of the Future, echoed Mr. Boudali’s sentiments on the role of CSOs in shaping the future.

“Since 1947, 68 UN-supported civil society conferences have resulted in successful outcomes. As a result of previous interactions with civil society organizations, we look forward to the 2024 UN Civil Society Conference to be held in Nairobi in May 2024, in support of the Summit of the Future,” she said.

Ms Agengo also expressed her delight at the Summit of the Future happening in the same year that ECOSOCC is celebrating its 20th Anniversary.

A panel of experts during the webinar disussed and gave insights from their technical expertise working in relevant sectors feeding into the Summit of the Future.

Ms. Juliet Okeke Chinemelu, a Member of ECOSOCC’s 4th Permanent General Assembly presented on the topic, ‘The Struggle for Women’s Rights; A Call for Stiffer Intervention.’

“Only 22.6% of women globally participate in the workforce, compared to 77.4% of men and women earn approximately 63% of what men earn for similar work. Women continue to face disparities in education, employment, political representation, and access to healthcare. 52% of women in Africa who experience intimate partner violence seek help or report it. There is a need to get stiffer interventions that accord women all the rights that statistics has shown that they are losing out on currently,” she stated.

Dr. Mariama Williams, Senior Adviser at the Global Afro Descendant Climate Justice Collaborative presented on the topic, ‘Reflection on Climate Justice for Africa on the Pact for the Future.’

“The use of natural resources must protect the people around it. Climate change is Africa’s biggest existential threat.  The way wars and conflicts keep creating emissions on the continent and the world, is concerning. We need to hold our governance structures accountable in this regard. It has also been observed that climate change has also compelled migration across the world,” she explained.

Dr. June Soomer, Chair Designate of the United Nations’ Permanent Forum on People of African Descent tackled the topic, ‘Towards a Global Financial System that Works for Africa.’

“The summit of the future must look to the past. Let’s create financial sustainability within the continent. We must also have more global financing to deal with climate changes. We should marry Agenda 2063 with the African Financial System but let us not forget the 6th region (diaspora) in this drive towards building financial resilience and climate justice,” she said.

Mr. Desire Assogbavi, Francophone Africa Director at ONE Campaign made a presentation on the Role of Africa in the Pact for the Future.

“Africa brings demography and human resource. The global community benefits a lot from collaborating with African innovators. Africa is rich with a lot of resources that with proper management will enrich the continent greatly. As a suggestion, we might need a robust accountability mechanism on what needs to be done and which particular entity would do it in this regard,” he emphasized.

In closing, ECOSOCC’s Head of Secretariat, William Carew said, “ECOSOCC has engaged in raising awareness about the Summit of the Future and is also carrying out consultations to consolidate African voices to ensure that African proposals and insights are reflected in the ongoing negotiations leading to the Summit and in the Pact for the Future.”

He promised that ECOSOCC would continue to share more information on the Summit of the Future, the UN Civil Society Conference and all the activities around ECOSOCC’s 20th Year Anniversary commemoration.

During the online event, participants had a chance to engage the panel of experts in a question and answer session. The Continental Dialogue also gave a chance to participants to ask questions on financing, climate justice and the Pact of the Future.

Distributed by APO Group on behalf of African Union (AU).