On September 13, 2024 the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Federal Republic of Nigeria, Vyacheslav Bril, met with the Minister of Foreign Affairs of Nigeria, Yusuf Maitama Tuggar. 

During the meeting, the parties discussed the current state of interaction and prospective areas of mutually beneficial cooperation between Belarus and Nigeria in various areas, the development of the legal framework, as well as issues related to the development of possible visits at the highest and high levels.

Distributed by APO Group on behalf of Ministry of Foreign Affairs of the Republic of Belarus.

Lord Collins, the UK Minister for Africa, will visit Ghana on 17th September. This visit, his first to West Africa, will reinforce the enduring partnership between the UK and Ghana.  

During his visit, Lord Collins will meet stakeholders including Government Ministers, leaders in Ghana’s tech and innovation sector and food security agencies.

The Minister will also meet civil society organisations that work on issues of importance to both the UK and Ghana, including democracy and security. 

Lord Collins will announce funding including:

£3.8 million, in partnership with Shell Foundation, to make green energy more accessible to Ghanaians
at least £1 million to support Ghana’s drought response
£500,000 for a food fortification programme in northern Ghana

Ahead of his visit, Lord Collins, the UK Minister for Africa, said:

The UK and Ghana are close friends, and my visit is all about deepening our partnership for closer stronger collaboration across various sectors, from green growth to food security. Working together, we can address shared challenges and unlock new opportunities for both our nations.

British High Commissioner to Ghana, Harriet Thompson, added:

We are thrilled to welcome Lord Collins to Ghana, where he will witness first-hand the breadth and depth of our partnership. The Minister’s choice of Ghana for his first West African visit speaks volumes about the importance of the UK-Ghana relationship to our new Government. The visit will reinforce our shared commitment to a prosperous, sustainable future for both countries.

Distributed by APO Group on behalf of United Kingdom Foreign, Commonwealth and Development Office.

UK support to boost growth, clean energy, food security and women’s empowerment announced as Minister for Africa Lord Collins begins week-long visit to West African regional powers, Ghana and Senegal; In Ghana, UK funds will help small businesses to access clean energy sources and in Senegal, the Minister will lead a delegation of 40 companies to explore opportunities to deepen trade and investment ties; New funding will also improve access to reproductive health services for women and girls in Senegal.

Modern economic partnerships are high on the agenda as UK Minister for Africa, Lord Collins for Highbury, embarks on a week-long visit to Ghana and Senegal to drive mutual growth and prosperity.

In Senegal, Lord Collins will meet Prime Minister Ousmane Sonko. Leading a delegation of 40 companies, he will explore opportunities for increasing trade and investment between the UK and Senegal with a focus on partnerships that deliver mutually beneficial, sustainable growth. 

He will also highlight new UK Export Finance-backed investment in infrastructure worth hundreds of millions of pounds, and commit UK support for Senegal’s new industrial strategy.

Visiting the Port of Dakar, Lord Collins will see first-hand how UK investment will support Senegalese and intra-African growth and trade and create jobs; and ride the UK-funded Dakar Bus Rapid Transit System, the first electric bus network in sub-Saharan Africa.

Approximately £7.24m of UK funding has also been announced to empower women and girls to have greater voice, choice and control over their reproductive health and rights in Senegal, through the new Women’s Integrated Sexual Health (WISH) Dividend programme.

Subject to contract, the programme will be delivered by MSI Senegal, alongside Senegalese and international partners, the programme is expected to prevent almost 400,000 unintended pregnancies, 92,000 unsafe abortions, and over 550 maternal deaths. It is also estimated to save approximately £24.3m in direct healthcare costs that would otherwise be paid for by families or the healthcare system.

Ahead of his visit, Lord Collins of Highbury said:  

The UK is reconnecting with the world. We are deepening our relationships with our African counterparts based on genuine respect, focusing on partnerships that deliver mutually beneficial and sustainable investment and growth.

In Senegal, I’m leading a UK trade mission of 40 companies and announcing support to their flagship connectivity programme and their new industrial strategy. In Ghana, we’re unlocking access to a network of clean, green energy for small businesses through an innovative partnership with the private sector. These are the growth initiatives of the future.

But a country cannot grow sustainably without empowering its women. That’s why I’m also announcing new funding to empower women and adolescents to have more freedom to control their bodies and their future and to contribute economically.

Alain Christian Mbengue, MSI Senegal’s Country Director, said:

I want to thank the UK Government, not only for this important investment, but for their longstanding partnership and support.

Through this funding we and our partners will be able to expand access to lifesaving sexual and reproductive health services that will support the Ministry of Health and Social Action to reach its ambitious targets and give women and girls from the poorest and most vulnerable communities the opportunity to follow their dreams and become our next generation of leaders.

During his time in Ghana, Lord Collins will meet with the President Nana Akufo-Addo and political leaders ahead of the country’s election in December 2024. The Minister will also meet with the World Food Programme (WFP) to understand more about how climate change is contributing to food insecurity, launching a £500,000 food fortification programme, alongside new funding of at least £1 million to support Ghanaian communities suffering from drought and crop deprivation.

The UK, together with Shell Foundation, will also announce support for innovative energy firms Kofa and PASH Global to accelerate the green energy transition in Ghana. Backed by a commitment of £3.8 million, Kofa and PASH will help small businesses switch from petrol generators to sustainable batteries for powering appliances like refrigerators. The initiative also promotes the use of electric motorbikes, providing green energy solutions for everyday mobility.

The project is part of the UK’s Transforming Energy Access programme which works with countries to provide sustainable energy for millions of people, creating jobs and supporting livelihoods.

Distributed by APO Group on behalf of United Kingdom Foreign, Commonwealth and Development Office.

Global investment in upstream oil and gas is set to reach $570 billion in 2024, showing a 7% increase compared to 2023 expenditure. Of this, 33% is expected to be directed toward frontier assets, presenting a strategic opportunity for emerging oil and gas markets in Africa. Meanwhile, the International Energy Agency has estimated that delivering modern energy to the entire African continent – where more than 600 million people still lack access to electricity – will require up to $25 billion in annual spending through 2030.

With a lack of investment representing one of the primary challenges to oil and gas project financing in Africa, this year’s African Energy Week (AEW): Invest in African Energy 2024 event – taking place in Cape Town from November 4-8 – will feature a panel discussion on Unlocking African Assets Through New Risk and Finance Solutions. Sponsored by Global international insurance broker Howden and Pan African Insursnce advisory firm TRM Risk management, the session will explore the mechanisms, opportunities and challenges shaping Africa’s energy funding space, identifying new strategies for accelerating project development and maintaining a competitive advantage within the global energy landscape.

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.

The Unlocking African Assets Through New Risk and Finance Solutions discussion will feature an esteemed lineup of speakers, including Senior Director&Head of Natural Resources at Africa Finance Corporation Osam Iyahen; COO&Executive Director of green energy supplier Renergen Nick Mitchell and Howden Broking Insurance Managing Director and Head of Natural resources, Sam Martyn. The panel will be moderated by TRM Managing Director Hugo Hill.

The session will explore the mechanisms, opportunities and challenges shaping Africa’s energy funding space, identifying new strategies for accelerating project development and maintaining a competitive advantage within the global energy landscape and how political risk and credit Insurance can facilitate investment.

Serving as a milestone development in the sector, the African Petroleum Producers’ Organization and multilateral financial institution Afreximbank signed an agreement last June establishing the Africa Energy Bank. The bank is set up to facilitate, promote and finance the development of oil, gas and energy projects in Africa, and will play a central role in strengthening energy access by providing the financing needed to get large-scale projects off the ground. With $5 billion in initial capital raised from African signatories so far, the institution aims to close the funding gap by providing capital to oil and gas projects across the continent.

Despite the role oil and gas has played and will continue to play in Africa, global efforts to transition to alternative sources of fuel have created a stark investment gap. Fossil fuel funding has been declining in recent years, as international oil companies divest their oil and gas assets in favor of lower-carbon investments. As a result, one of the challenges in Africa’s oil and gas sector is reliance on both foreign expertise and funding. The Africa Energy Bank serves as a prime opportunity for the continent to attract interest and stimulate participation from local and regional governments and private sector players to fund future projects.

African governments play a crucial role in developers’ ability to secure financing for oil and gas projects. Many countries on the continent offer flexible profit-sharing, royalty and tax structures that facilitate quicker cost recovery, which is a major consideration for investors. Equatorial Guinea has established a one-stop shop that enables investors to set up a business in the country in one week, while South Africa’s InvestSA platform serves to facilitate investment, fast-track projects and reduce government red tape. Earlier this year, Angola implemented a one-stop shop for local content compliance in the oil and gas industry, enhancing transparency and policy implementation across the sector.

Financial delays are a major risk to project timelines, requiring companies to secure the necessary funding before launching large-scale projects. As such, the establishment of certain financial mechanisms in the oil and gas sector can enable companies to better access funding, as well as unlock alternative sources of capital such as sovereign wealth funds, development finance institutions, bond markets and more. One such mechanism is public-private partnerships (PPPs), which can accelerate project timelines by sharing risks, resources and expertise. Governments can encourage PPPs by offering incentives such as tax breaks, reduced royalties or fast-tracked approvals for projects that involve private sector investment. PPPs are especially effective in infrastructure development, where private companies can bring in advanced technology and expertise to expedite construction and operation phases.

“Financial institutions across Africa’s oil and gas sector have an essential role to play in driving industry growth. By providing much-needed capital to critical energy projects, they help bridge the investment gap and reduce the level of perceived risk that has long hindered development. Their involvement ensures that Africa’s resources are harnessed in a way that benefits local economies, creates jobs and supports energy access. As we unlock new opportunities, the support of these institutions will be paramount,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.