The AI mania that’s transforming business, government and society globally is also igniting waves of innovation across Africa, with the shape-shifting tech’s existential prospects powering a cross-continental investment surge at the AI Everything Expo by GITEX AFRICA (www.GITEXAfrica.com) in Morocco next month.

Africa’s epic AI opportunity is already disrupting digital advancements in diverse sectors from finance and agriculture, to healthcare and mobility, all fuelling a booming AI market that, according to analysts Statista, will grow 30 percent annually over the next six years to value US$17 billion by 2030. 

This massive AI rush combined with a rapidly growing population of 1.5 billion people – of which 70 percent are under the age of 30 – creates a potent recipe of AI acceleration, but highlights gaps in talent development, venture allocation, policy and infrastructure. 

These crucial challenges and opportunities will be addressed when the world’s AI cognoscenti and pivotal power players of its widespread deployment unite to fast-track the continent’s next big tech shift at the AI Everything Expo by GITEX AFRICA, the year’s largest and most progressive platform for AI exploration and deep tech innovation.

Taking place from 29-31 May 2024 in Marrakech, Africa’s powerhouse tech showcase will feature the world’s tech titans spearheading the AI gold rush, including Microsoft, IBM, Huawei, Nvidia, and Google, along with hundreds of AI ambitious start-ups from across the globe with grand visions to change Africa via AI-infused products and services. 

An AI continent ‘brimming with investment opportunity’

Microsoft, the world’s most valuable company, and GITEX AFRICA’s official AI Partner, is leading the way in the AI investment race, having forged partnerships with the world’s hottest makers of AI models, including the UAE’s G42, a global leader in visionary AI.

Microsoft’s recent US$1.5 billion strategic investment in G42 to accelerate AI development in growing economies such as Africa will be welcomed by big tech executives, government leaders, investors and tech entrepreneurs alike at GITEX AFRICA 2024, which will also feature Presight, G42’s big data analytics company powered by generative AI.

Lillian Barnard, President of Microsoft Africa, said AI can unlock a continent “brimming with investment opportunity.” “Africa has long been recognised for its formidable growth prospects and AI is the long-awaited key to help unlock that potential,” said Barnard, who will also be a headline speaker at GITEX AFRICA’s power-packed conference programme. 

“The AI-powered innovation we’re seeing today is poised to reinvent every aspect of society from healthcare to financial services, manufacturing and beyond. If Africa is to benefit from the paradigm shift currently sweeping the globe, we must make the promise of AI real for people and organisations across the continent – and do so responsibly. GITEX provides us with a platform to come together and work towards fulfilling that commitment.”

Dr. Adel Alsharji, the COO of Presight, added that Africa is the second-fastest growing region globally in AI adoption. “Africa’s AI journey is gaining momentum, and this progress highlights the continent’s readiness to explore and harness the potential of AI for driving economic growth and addressing local challenges,” said Alsharji, adding that demand for AI-related jobs will increase two-fold over the next three years. “AI could add US$13 trillion to the global economy by 2030, while the number of AI-related jobs in Africa alone is expected to grow by 200 percent by 2025.”

A formidable African force in a world-changing AI revolution  

The AI Everything Expo will gather the brightest minds and most innovative thinkers in the field of AI at the AI Everything Conference, one of 10 powerful conference stages at GITEX AFRICA, the continent’s largest tech and start-up show. 

Headline speakers leading the AI phenomenon include Dragoș Tudorache, Vice-President of the Renew Europe Group; Mactar Seck, Chief of Technology and Innovation at the United Nations Economic Commission for Africa (UNECA); and Jepson Taylor, Former Chief AI Strategist, Dataiku.

AI and it’s far-reaching multisectoral impact will be evident on the exhibition floor, with exhibitors showcasing how the AI boom is turbocharging waves of innovation across industries, from education and agriculture, to transport, retail, energy, or logistics.

Clinify, a Nigerian start-up epitomises this movement in the healthcare sector, and is one of hundreds of global change-makers at GITEX AFRICA’s North Star Africa start-up showcase. Clinify (www.MyClinify.com), an electronic medical record (EMR) platform seeks to digitise patients’ medical records in Africa, where 90 percent of such information is still paper based.

Founded in 2020, the AI-powered model will increase access to healthcare across Africa, where, according to CEO and Founder Michael Omidele, there’s an urgent need for centralised and digitised medical records. “Africa’s healthcare sector faces several challenges; there’s only one doctor available for every 10,000 patients whereas the average in developed countries is one doctor for every 250 people,” said Omidele.

“Clinify is a one of a kind African solution offering a digitally centralised and standardised interoperable aggregator of healthcare systems, a telemedicine platform, and an EMR solution giving patients access to their medical records. Our goal is to network with healthcare providers, to expand this innovation from Nigeria and export it across Africa.”

Under the High Patronage of His Majesty King Mohammed VI of the Kingdom of Morocco, GITEX AFRICA is held under the authority of the Moroccan Ministry of Digital Transition and Administration Reform, in partnership with Morocco’s Digital Development Agency. The 2nd blockbuster edition, organised by KAOUN International, follows its pioneering debut in 2023.

More information is available at www.GITEXAfrica.com.

Distributed by APO Group on behalf of GITEX Africa.

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About KAOUN International:
KAOUN International is the independent events company and wholly owned subsidiary of Dubai World Trade Centre (DWTC) established to organize and manage events internationally. Derived from the Arabic word ‘universe’, KAOUN International’s mission is to ‘Create Limitless Connections’ for the industries and markets in which it operates. Created to leverage the 40-year legacy of DWTC’s events management business and drive future MICE sector opportunity in the MENASA region. KAOUN International delivers game-changing live experiences that build robust business connections, create opportunity, and stimulate economic growth, building on DWTC’s extensive portfolio of business and consumer events spanning multiple sectors, including technology, food and hospitality, sustainability, broadcast and satellite, automotive, talent development and leisure marine.

CEO of Merck Foundation (www.Merck-Foundation.com), Senator, Dr. Rasha Kelej and Scientific Committee announced and recognized the winners of Merck Foundation Africa Research Summit – MARS Awards 2023 winners, 6 Researchers from 6 different African Countries awarded in two categories – Best African Women Researchers and Best African young Researchers; MARS Awards Ceremony was attended by African Ministers of Health, Technology, Information&Technology, Social Affairs, Women Rights&Gender, Community Development and Social Welfare; Merck Foundation Africa Research Summit – MARS 2023 Awards was in partnership with African Union Scientific Technical Research Commission, International Federation of Fertility Societies -IFFS, Africa Reproductive Care Society – ARCS, and Manipal University, India.

Merck Foundation also announced the Call for Applications for new edition of Merck Foundation Africa Research Summit – MARS Awards 2024 to empower Women and Youth in STEM in Africa with special focus on ‘The Role of Scientific Research in Women Health and Reproductive&Fertility Care’; Watch the Livestream of the MARS 2023 Awards Ceremony: https://apo-opa.co/3RIbzM3.

Merck Foundation, the philanthropic arm of Merck Germany announced and celebrated the winners of Merck Foundation Africa Research Summit (MARS) Awards 2023 announced in partnership with International Federation of Fertility Societies -IFFS, Africa Reproductive Care Society – ARCS, Manipal University and African Union Scientific Technical Research Commission to recognize African Researchers for their valuable research work and contribution to empowering women and youth in STEM in Africa with special focus on ‘The Role of Scientific Research in Women Health and Reproductive&Fertility Care’.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation and Chairperson of Merck Foundation Africa Research Summit -MARS expressed, “Like every year since 2016, I am extremely proud of our 6 Winners of MARS Awards this year who have been recognized under the two categories of ‘Best African Women Researchers Awards’ and ‘Best African Young Researcher Awards’ for their valuable contribution in research, especially by African Female Researchers who are under presented in this field, as we all know. Through Merck Foundation African Research Summit – MARS Awards, we aim to empower African young researchers and of course to empower and encourage African women researchers through advancing their research capacity and promote their contribution to STEM (Science, Technology, Engineering and Mathematics).”

The winners of ‘Best African women Researchers Awards’ and ‘Best African Young Researcher Awards’ will be enrolled into research training at a premier institute in India.

“And I am also very happy to share with you all that as promised, we provided an opportunity to one of first winner of each category, however, only Ms. Stella Irungu from Kenya was able to attend the 4-day long International Federation of Fertility Societies – The IFFS World Congress 2023, held recently in Athens, Greece”, shared Senator Rasha Kelej.

Merck Foundation is committed to improving the lives of people and has been transforming the Patient care landscape and making history together with its partners in Africa, Asia, and beyond, by providing 1740 Scholarships for doctors from 50 Countries in 42 critical and underserved medical specialties.

“Out of our 1740 scholarships, we have provided more than 535 scholarships for clinical and practical training for Fertility&Embryology, PG Diploma&Master Degree in Sexual and Reproductive Medicine, Clinical Psychiatry, Women’s Health, Biotechnology of Human Assisted Reproduction&Embryology, Urology, Laparoscopic Surgical skills to doctors from 39 countries across Africa and Asia. We are proud of this achievement”, added Dr. Rasha Kelej.

The award ceremony was attended by Prof. Oladapo Ashiru, OFR, President of African Reproductive Care Society (ARCS), President of The Academy of Medicine Specialties of Nigeria&Secretary General of International Federation of Fertility Societies (IFFS), Nigeria and Prof. Dr. Satish Kumar Adiga, Head, Department of Reproductive Science and Coordinator at Fertility Preservation Centre, Kasturba Medical College, Manipal, India.

Prof. Oladapo Ashiru, OFR shared, “I extend my congratulations to all the deserving recipients of the MARS Awards 2023. The received entries demonstrated exceptional quality of research. This platform holds significant value for African women and young researchers dedicated to health research.”

The ceremony was also attended by the below African Ministers:

Hon. Dr. BARADAHANA Lydwine, Minister of Public Health and Fighting Against AIDS, Republic of Burundi
Hon. Dr. Ahmadou Lamin Samateh, Minister of Health, The Gambia
Hon. Mrs Imelde SABUSHIMIKE Minister of National Solidarity, Social Affairs, Human Rights and Gender, Republic of Burundi (Represented by Donatienne GIRUKWISHAKA, General Director for the Promotion of Women and Gender Equality)
Hon. Jean Sendeza, Minister of Gender, Community Development and Social Welfare, Republic of Malawi
Madam Leocadie NDACAYISABA, Minister of Communication, Information Technologies and Media, Republic of Burundi (Represented by Mr. MANIRAKIZA Ferdinand, Permanent Secretary, Minister of Communication, Information Technologies and Media)

The MARS 2023 Award Winners are:

Winners of “MARS Best Women African Researchers Awards” 2023

Stella Irungu, KENYA

TOPIC: Identifying Biomarkers For The Non-Invasive Diagnosis Of Endometriosis

Motshedisi Sebitloane, SOUTH AFRICA

TOPIC: Women Living With HIV Treatment Are At Increased Risk Of Premature Menopause

Oyeyemi Ifeoluwa, NIGERIA

TOPIC: Anticancer Effect Of A Copper(Ii) Complex With Vanillin 3-Ethyl-Thiosemicarbazone Ligand In Triple Negative Breast Cancer

Winners of “MARS Best Young African Researchers Awards” 2023

Afework Tadele Mekonnen, ETHIOPIA

TOPIC: Social Determinants Of Maternal Health In Developing Countries: A Systematic Review And Meta-Analysis

Stephene Shadrack Meena, TANZANIA

TOPIC: Targeting Tumor-Promoting Inflammation To Control The Growth And Metastasis Of Breast Cancer

Theogene UWIZEYIMANA, RWANDA

TOPIC: Prevalence And Risk Factors Of Maternal Near-Miss At Kirehe District Hospital In Rwanda: Implications For Improving Women’s Health In Africa

Senator, Dr. Rasha Kelej  further shared, “I am also excited to announce the Call for Applications for our prestigious Merck Foundation Africa Research Summit (MARS) Awards 2024. ‘The Role of Scientific Research in Women Health and Infertility&Reproductive Care’ will be the key focus this year too. Eventually, through these awards, Merck Foundation aims to empower Women Researchers and young African Researchers to strengthen the important role research plays towards contributing to public health thus improving healthcare capacity with special focus on women health, infertility and reproductive health in Africa.”

MARS 2024 will have scientific support from African Union Scientific-Technical and Research Commission (AU-STRC); African Reproductive Care Society (ARCS), International Federation of Fertility Societies (IFFS); and Manipal Academy of Higher Education (MAHE), India.

Details for MARS AWARDS 2024

– Abstracts are invited from final year PhD students, young investigators involved in research and Medical Doctors in Postgraduate Medical Fellowship program related to either of the following topics:

1) Women Health

2) Infertility and Reproductive Care

Applicants should be primarily based at African Research Institutes and Universities, although collaboration within Africa as well as outside is also welcome.

Last Date of Submission:

Applications can be submitted till 30th June 2024

How to apply:

Apply online here: https://apo-opa.co/3vmV54I

Alternatively, Applications and abstracts can be submitted via email to mars@merck-foundation.com

along with CV (including Name, Gender, Country, University/Hospital Name, Email address, Mobile Number) and the abstract document as an attachment.

Entries are invited under the below categories:

Best African Women Researchers
Best African Young Researcher

The Winners receive a 3-month Research Training scholarship in India.

Winners will be invited to attend the Merck Foundation Africa Asia Luminary 2024.

Distributed by APO Group on behalf of Merck Foundation.

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About Merck Foundation:
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality&equitable healthcare solutions in underserved communities, building healthcare and scientific research capacity and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.Merck-Foundation.com to read more. To know more, reach out to our social media: Merck Foundation (Merck-Foundation.com); Facebook (https://apo-opa.info/3Ykd3hH), Twitter (https://apo-opa.info/3Yo3y11), Instagram (https://apo-opa.info/3lsqM7q), YouTube (https://apo-opa.info/3CNFGLa), and Flickr (https://apo-opa.info/3JT8BSC).

Representing 13% of global reserves, Africa’s gas resources are able to fulfill continent-wide electrification objectives, while accelerating the energy transition and creating diversified downstream industries. The continent currently exports just over 40 million tonnes of LNG per annum, with additional capacity set to come online this year. In a flagship panel at the Invest in African Energy (IAE) forum – taking place in Paris in May 2024 – Africa’s deepwater gas, LNG and FLNG investment opportunities will be further unpacked, as global investors prioritize natural gas as a less carbon-intensive solution still able to deliver energy reliably and to scale.

Under the theme, “Future Proofing Africa’s Gas and LNG Industry,” a dedicated panel will outline Africa’s long-term gas demand growth – among the highest in the world – as well as opportunities to develop, supply and service gas exploration, processing, transport and storage projects. The panel will be moderated by Amena Bakr, Senior Research Analyst, Energy Intelligence and panelists will include Per Magnus Nysveen, Senior Partner&Head of Analysis, Rystad Energy; Armel Simondin, Chief Executive Officer, Perenco and Cobie Loper, Senior Vice President – Operators and Geographical Sales of Energy Equipment, NOV

Organized by Energy Capital&Power, IAE 2024 (https://apo-opa.co/3UMOOtQ)  is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

In terms of emerging exporters, countries like Senegal, Mauritania, Tanzania and Mozambique are bringing new capacity online through projects led by bp, Equinor, TotalEnergies and ExxonMobil, while mature markets like Nigeria, Angola and Republic of the Congo are seeking to pivot from crude oil to associated gas production. The panel will explore Africa’s current LNG market outlook, along with the key investment trends shaping global supply-demand dynamics and long-term contract prices.

While the sector is undergoing an $800-billion, 20-year upstream capital expenditure program resulting in several world-class LNG facilities, African gas projects still face a lack of investment, owing in part to high capital requirements, long lead times and above-ground risks. As a result, the panel will explore strategies for governments and regulators to support gas development and stimulate investment through gas-specific legislation. It will also look at how new large-scale gas infrastructure projects can employ innovative solutions, including regional and multilateral financing mechanisms, to secure capital.

Technology will play a key role in discussions, with a focus on enhancing the efficiency, safety and sustainability of LNG operations across the continent. From small-scale LNG that delivers power to off-grid users, to FLNG vessels converted from existing LNG carriers, Africa is home to some of the leading innovations in the sector. Given that LNG is being positioned as a key enabler of the energy transition – emitting 50-60% fewer carbon emissions than oil or coal – the forum targets technology and service providers that can advance the discourse around decarbonization, energy efficiency and environmental stewardship. 

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

By Labi Ogunbiyi. 

The African continent stands at a pivotal juncture in the global energy sector, with abundant oil and gas reserves offering immense potential for economic growth. However, while the continent holds significant promise, navigating the upstream oil and gas sector in Africa comes with a plethora of risks and potential setbacks that demand careful consideration and strategic planning. This is against a backdrop of cutbacks in international capital for carbon-intensive oil and gas developments and increasing competition for the same sources of capital. Innovative financing solutions are thus required to fill the void, but can only be truly successful if tailored to specific needs and adopted and respected by all stakeholders.

Nigeria, Africa’s largest oil producer, epitomizes the complexities and opportunities within the continent’s energy sector. Over the past decade, the Nigerian oil and gas industry has grappled with insecurity, asset vandalism, and community unrest, leading to a decline in investment. This coupled with the need for the sanctity of contracts and a properly structured fiscal framework has seen investment in the sector decline to about US$5 billion per annum from highs of about US$22 billion per annum in 2012.

Nigeria has an abundance of unexploited discovered natural gas (as well as significant prospective gas resources), now heralded as a “clean” transition fuel amidst global energy shifts. Nigeria should seek to attract significant investment during this transition era (which has also seen crude oil prices rebound) to take full advantage of this, thus retaining the value of crude oil and gas resources to enable it to position itself for its energy transition (towards net zero) agenda. A just energy transition, the paradigm that gained impetus at the December 2023 COP28 Conference, is intended to decelerate financing fossil fuel developments while supporting those most vulnerable to the impacts of climate change when facilitating the transition to clean energy. This is not simply a tweak to existing systems; it is a fundamental transformation towards a cleaner, more sustainable future. This shift is driven by environmental concerns, the changing balance of power on the global stage, and awareness that the energy-producing nations in the Global South (which produce only a fraction of global emissions) should be given a chance to “catch up” industrially, technological advancement as consumer demands. It is estimated that the country needs about US$25 billion of annual investment in the next 10 years to achieve crude oil output of three to four million barrels per day and 3 bcf per day of gas production for domestic consumption (an ambition). A lack of available infrastructure, whether because of existing compromised infrastructure through age or sabotage or simply a lack of new investment, and competition for capital regionally, poses challenges that will need to be overcome to achieve this. Inadequate infrastructure impedes the development and operation of oil and gas projects in Africa, increases project costs, delays timelines, and heightens operational risks.

The new Government has declared that it is “open for business” and will take urgent steps towards solving the fiscal, regulatory, security, and other issues discouraging investment and operations in the nation’s petroleum sector – something that is urgently required to help to push its oil and gas production to the ambitious levels being targeted. The mechanisms are in place – the Petroleum Industry Act (PIA) has done a lot to bring an enabling framework to the industry, including by allowing the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries to raise capital on their own balance sheets, whether by divestitures or development partnerships on their blocks (including risk service contracts, financial and technical service agreements and the likes), crude forward sales, debt or equity capital raisings, etc. Still, there is a need to focus more on implementing the PIA in a manner that restores investors’ confidence and boosts oil and gas production, ultimately increasing jobs, the country’s earnings, and prosperity. Whilst international commodity traders have increased their activity and funding of oil production in Nigeria, they rarely support the development of appraisal and near-production assets. Access to innovative capital structures for such capital-intensive projects, involving a more risk-reward approach will be key to developing such assets, as will the deepening of regional capital markets to bolster the capital available from institutions such as the African Export-Import Bank and planned new initiatives such as the African Energy Bank. Effectively, more “home-grown” solutions will be required.

As international oil companies shift focus to deep offshore and gas-rich assets, indigenous companies and smaller operators are stepping in to fill the void. However, accessing capital remains challenging. Innovative financing models, such as the contractor risk service  model, offer a promising solution. This model, which involves contractors taking financial risks and receiving payment from production, incentivizes efficient asset development while mitigating risk for owners and operators.

The contractor taking such risk, is effectively a co-financier of, and investor in, the development of the oil block – ensuring a service that would otherwise require immediate payment, to benefit from payment from oil and gas production (therein lies the contractor risk).

The success of such models hinges on the support of all stakeholders, including operators, joint venture partners, financiers, regulatory authorities, and local communities. By aligning incentives and sharing risks, these partnerships can drive sustainable development and enhance investor returns. The recent completion of the FSO ELI Akaso infrastructure project by the Century Group (CG) (part of an alternative crude oil evacuation system (ACOES)), facilitated by the contractor risk service model, exemplifies the potential for collaboration to unlock value and foster growth. The ACOES is being developed as a result of the need to enhance production and supply security from oil blocks in the Eastern Niger Delta due to infractions and prolonged outages of the Nembe Creek Trunkline (historically one of Nigeria’s major oil transportation arteries evacuating up to 150,000 bopd of crude from the Niger Delta to the Atlantic coast for export). The CG model is “Made-in-Nigeria-for-Nigeria” but can be rolled out regionally (and globally too), in countries where access to capital for oil and gas developments is tough. Contractors work in a vacuum: the aim of which is to optimise oil production to ensure that their clients thrive so that they do too. However, they rarely take financial and production risk executing a “pay-as-you-go” model (often including mobilisation and other hefty prepayment-type fees), which can leave operators hanging where assets under-perform. They also get the job done without involving themselves in the issues that may affect joint venture partner relationships.

Local and international investors, including UK-listed San Leon Energy plc, World Carrier Corporation, and GT Bank plc have invested heavily in Energy Link Infrastructure Limited (ELI), the sponsor of the ACOES and owner of the FSO ELI Akaso and relevant pipeline infrastructure to develop the ACOES. With the advent of COVID and a lack of production available from anchor clients, ELI needed to look for alternative sources of capital to ensure that the FSO ELI Akaso is ready for operations. Without CG’s involvement in a contractor risk service model, the FSO would not be operationally ready and now established as a terminal for oil export. As the Akaso starts to take on barrels from various oil producers, the business should thrive. CG, as an investor by the application of its contractor risk service model, should also be rewarded and feted for having stood by the business at a time when access to alternative capital was proving difficult. With the success of this approach, CG is ensuring that the contractor risk service model should be considered by the industry as an alternative, proactive, and additional funding source for the development of energy projects.

Looking ahead, achieving sustainable development in Africa’s oil and gas sector demands collaborative action from all stakeholders. Local investors, operators, and contractors play a crucial role in de-risking opportunities and crafting an appealing investment narrative that attracts capital. By leveraging local expertise and fostering partnerships, these stakeholders can unlock the sector’s full potential while mitigating risks. Regulatory frameworks also play a pivotal role in shaping the investment landscape. It is imperative that these frameworks prioritize ease of doing business and uphold contract sanctity to instil confidence among investors. Additionally, addressing bottlenecks to investment and exits is critical for maintaining investor interest and sustaining growth momentum. Addressing the need to resolve the long-standing saga and delay in the consummation of the $1.3 billion ExxonMobil sale of its 40% stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Nigeria Plc, the Nigerian Minister of State for Petroleum Resources, Heineken Lokpobiri said on 16th April 2024: “Now that the whole world is campaigning against investment in fossil fuel, if we close this transaction and Seplat expands their investments, Bonga North, which is predicated on that resolution, comes on board, and the whole world will know that Nigeria has become a new investment destination and that is the objective of this government.”

In charting the course for Africa’s upstream oil and gas industry, daring innovations and strategic partnerships will be indispensable. By embracing risk and seizing opportunities, the continent can harness its energy potential to drive economic prosperity and sustainable development for generations to come. More local investors, operators and contractors (like Century Group) will need to step up to help to de-risk opportunities and ensure the investment narrative is attractive, properly articulated and understood. With traditional international financing techniques becoming more difficult to secure for oil and gas projects, the contractor risk service model is an invaluable additional tool to ensure the continuing development of energy projects.

Distributed by APO Group on behalf of Century Energy Services.

About the Author:
Constantine ‘Labi Ogunbiyi has been involved in the energy (including renewables), fintech, and logistics sectors as an investor, Strategic Advisor, and/or Director on several boards. He has more than twenty-five years of experience in international capital markets, private equity, acquisition, structured, trade and project finance, and public and private partnerships in the African energy, technology, and infrastructure sectors, in particular. Labi,  was a founder and Executive Director of Afren plc responsible for business development, strategy, and growth, leading Afren’s negotiating team in Nigerian acquisitions and equity and debt financings (capital raising of more than $1.7 billion) between 2005 and 2009. In 2009, he founded First Hydrocarbon Nigeria Limited (FHN), a leading indigenous upstream oil and gas exploration and production company in Nigeria, and functioned as its Chief Executive Officer, selling the business in 2013.

Presently, he runs his family office, Phoenix Generation Limited, a direct investment and strategic investment advisory service company. He holds Legal Qualifications from the Universities of London (King’s College), Passau (Germany), and the Oxford Institute of Legal Practice.