The Board of Directors of the African Development Bank (AfDB) (www.AfDB.org) has approved a financing package of 92.3 million euro for the implementation of the Tunisian government’s Support Program for Business Competitiveness and Empowerment of the Population through Job Creation (CAP-Emplois).

The financing consists of a 90 million Euro loan from the Bank Group, and a grant of 2.3 million Euro from the Women Entrepreneurs Finance Initiative (We-Fi) Trust Fund, under the Affirmative Finance Action for Women in Africa (AFAWA) (http://apo-opa.co/4cnmqDI) initiative.

The CAP Emplois program, designed by the Tunisian Ministry of Employment and Vocational Training with support from the AfDB, will be rolled out over four years starting in November 2024. The objective is to support job creation in order to improve living conditions and promote economic inclusion through entrepreneurship and skills development. It will support the creation of new businesses, as well as the growth and formalisation of existing businesses.

“The findings of a survey by the Bank in Tunisia show that established and potential entrepreneurs could create many jobs, but they are subject to structural constraints that hold back investment projects, productivity and growth. This project helps entrepreneurs to address these problems,” said Malinne Blomberg, Deputy Director General of the Bank Group for North Africa and Country Manager for Tunisia.

Constraints affecting the development of Tunisian entrepreneurs include level of education and access to the market, particularly for informal businesses. Entrepreneurs also find it difficult to recruit employees with necessary skills, and lack access to business support services and finance.

The CAP Emplois program is designed to reduce these constraints through three types of intervention: complementary integration training to provide young people and women looking for work with the skills they need to access salaried jobs; an entrepreneurship support service, Souk At Tanmia 2.0 (http://apo-opa.co/3YHqWtd), to extend access to support tailored to the needs of various target groups, particularly women; and the development of institutional capacity.

The Tunisian government forecasts that the program could enable the creation of 118,900 formal jobs – 76,600 directly and 42,300 indirectly. At least 50% of the entrepreneurs who obtain training and professional integration through the program will be women, and 45% of the businesses that receive help with establishment, formalisation and financing will be run by women. The grant from the We-Fi fund under the AFAWA initiative will reduce loan initiation fees for businesses run by women and increase the share of women entrepreneur beneficiaries from 35% to 45%.

“This program consolidates our commitment to promoting employment in Tunisia, helped by lessons learned from the Souk At-Tanmia initiative and by the operational innovations developed by the EInA platform (http://apo-opa.co/3YHqYRR). The objectives of the program are to overcome constraints associated with expansion and financial sustainability of businesses and to leverage private investment,” Ms Blomberg said.

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

Media contact:
Communication and External Relations Department 
media@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 44 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

Africa’s upstream oil and gas sector is attracting substantial investments, with an $800-billion capital expenditure program focusing on LNG alongside traditional deep-water oil projects currently underway. This investment cycle is expected to boost Africa’s LNG production capacity at a time when global gas demand is on the rise.

Responding to this environment, African Energy Week (AEW): Invest in African Energy 2024 will host a two-day Upstream Exploration&Production (E&P) Forum spotlighting Africa’s LNG prospects. The forum will feature a series of strategic sessions and presentations, highlighting major LNG and floating LNG (FLNG) developments and investment opportunities shaping the sector.

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.

Mozambique is at the forefront of Africa’s LNG growth, with the $20-billion Mozambique LNG project led by TotalEnergies set to produce 12.8 million tons of LNG per annum by 2028. Eni’s second FLNG production project in the country – Coral Norte – and ExxonMobil’s Rovuma LNG development are anticipated to reach FID by 2025. The country achieved natural gas sales of $1.7 billion in revenue in 2023, mostly driven by the start up of the Coral Sul FLNG project in November 2022.

The Nigeria LNG (NLNG) Train 7 expansion project is approaching completion, set to boost the country’s LNG capacity by 35%, adding roughly 8 million tons per annum. The project is part of Nigeria’s broader strategy to enhance its LNG production capabilities to meet both local and regional demand. In June 2024, the Nigerian National Petroleum Corporation signed a Project Development Agreement (PDA) with marine infrastructure company Golar LNG to deploy a FLNG vessel in the offshore Niger Delta region. The PDA plans to monetize 400-500 million standard cubic feet of gas per day, producing LNG, LPG and condensate, with FID expected by Q4 2024.

Under the Upstream E&P Forum, a session on The Demand Economics Driving the Growth of African LNG and FLNG will explore Africa’s LNG portfolio, shedding light on supply and demand dynamics and future investment opportunities. Speakers will include Managing Director&General Manager of Eni Rovuma Basin Marica Calabrese, Africa Finance Corporation Vice President Taiwo Okwor, and senior representatives from Golar LNG, Angola LNG, and UTM Offshore.

In West Africa, Equatorial Guinea is also establishing itself as a major LNG player through its Gas Mega Hub (GMH) initiative, which aims to pool regional gas resources to become a central hub for gas processing, liquefaction and distribution. Last October, US oil and gas company Marathon Oil entered into an LNG sales agreement with commodity trader Glencore for Equatorial Guinea’s Alba field, positioning the company for the GMH’s next phase of development. Meanwhile, the Greater Tortue Ahmeyim (GTA) LNG project, spanning Mauritania and Senegal, is set to reach first production by Q4 2024, with a capacity of 2.3 million tons per year.

In southern Africa, Angola’s LNG market is also growing, launching the second phase of the Falcão natural gas project last December, as well as developing the country’s first non-associated gas development project in Soyo. South Africa’s Virginia Phase 2 project is set to produce commercial quantities of LNG and liquid helium, with a capacity of 670,000 cubic meters of LNG per day. Meanwhile, the country’s Port of Ngqura FLNG project involves the installation of a floating storage and regasification unit, gas-to-power infrastructure, cryogenic pipelines and a terminal for processing, storing, on-site exploitation and distribution of gas acquired from the country’s on- and offshore fields.

A session on The Game Changer: Examining African Gas will outline Africa’s natural gas reserves, production capacities, infrastructure development and export potential, highlighting potential for transitional energy, power generation and diversified growth. The session will feature senior representatives from Equatorial Guinea’s national oil company (NOC) GEPetrol, Seplat Energies, and Mozambican NOC Empresa Nacional de Hidrocarbonetos.

With these developments on the horizon, Africa’s leading upstream markets are positioning themselves as key players in the global LNG industry. AEW: Invest in African Energy 2024 will provide a pivotal platform for stakeholders to engage in discussions, forge partnerships and explore new opportunities within Africa’s growing LNG sector.

Distributed by APO Group on behalf of African Energy Chamber.

Multinational energy corporation Chevron (https://apo-opa.co/4dqqdRR) recently signed two risk service contracts (RSCs) for Blocs 49 and 50, located in the ultra-deep waters of Angola’s Lower Congo Basin. The company – through its Angolan subsidiary Cabinda Gulf Oil Company Ltd. – was initially awarded the concessions by way of Presidential Decree in January 2024. Signed in June 2024, the RSCs kick off new exploration activities and lay the foundation for block development.

Paving the way for insight into Angola’s corporate and commercial exploration framework, this year’s edition of the Angola Oil&Gas (AOG) conference – taking place in Luanda from October 2-3, 2024 – will feature a Master Class for petroleum and oilfield service providers. The Master Class to Petroleum and Oilfield Service Providers session will offer companies a comprehensive guide to preparing winning bids and efficient contracts for service providers participating in Angola’s oil and gas sector.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Taking place on October 2, the Master Class will be presented by Nuno Catanas, Founder and Managing Partner of MC Jurist, a corporate and commercial law firm and AOG 2024 sponsor. Attendees can expect a thorough and practical exploration of preparing a successful bid and ensuring efficient and sustainable contract structures. The firm boasts 20+ years of experience in the Angolan petroleum sector, focusing primarily on corporate and commercial matters, employment, shipping, customs and tax.

Angola’s upstream industry has seen a slew of recent activity in the services sector. In June 2024, engineering company Aker Solutions was awarded a multi-year FPSO contract by international energy company Azule Energy for works related to the construction of two FPSO vessels in Angola. The company will provide brownfield maintenance and modification support to the Greater Plutonio and PSVM vessels over a period of three years, with two one-year options included in the deal.

Meanwhile, oilfield services company Saipem won a contract with Azule Energy for the development of the Ndungu field offshore Angola (https://apo-opa.co/3YBTAfw). The contract covers engineering and construction services to the tune of $850 million. Under the terms of the contract, which was signed in May 2024, Saipem will spearhead the engineering, fabrication, transportation and installation of 60 km of rigid pipelines and subsea facilities. Additionally, the company will be responsible for the transportation and installation of flexible flowlines, jumpers and 17 km of umbilicals.

Engineering firm KBR secured a project management contract in April 2024 from Angolan national oil company Sonangol for the development of the 200,000-barrel-per-day Lobito Refinery. The company will be responsible for the engineering, procurement and construction (EPC) phase of the project. The contract builds on a 20-year partnership between the companies and will see KBR assume responsibility for management services for the EPC phase of the grassroots refinery.

Specialized in providing legal and tax consultancy to corporate clients operating in Angola, MC Jurist’s participation at AOG 2024 highlights the country’s favorable regulatory and fiscal landscape. In its latest Angola legislation update for July 2024, MC Jurist provided a summary of the country’s most recent acts of legislation deemed relevant to the firm’s operations, which include matters related to oil and gas, mining, infrastructure, investment, privatization and cross-border collaboration.

Last month, the Angolan Government approved the amendment to an ongoing privatization program for the period 2023-2026 regarding the sale of the country’s stake in financial institution Standard Bank Angola. Meanwhile, the government also approved the facilitation of sustainable investment with the EU, as well as the appointment of new members of the Board of Directors of Sonangol.

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

African youth prefer democracy to any kind of authoritarian alternative but are more likely than their elders to be dissatisfied with the way democracy works in their countries, Afrobarometer’s (www.Afrobarometer.org) inaugural flagship report (https://apo-opa.co/4fFMfBE) shows. 

The report, the first in what will be an annual series on high-priority topics, distils findings from data spanning more than a decade, including the latest round of nationally representative surveys in 39 African countries, representing the views of more than three-fourths of the continent’s population. 

The findings, based on 53,444 face-to-face interviews, show that while Africa’s youth (aged 18-35) differ little from their elders in their support for democracy, they express a greater willingness to tolerate military intervention “when elected leaders abuse power for their own ends.” They are also less trustful of government institutions and leaders and more likely to view them as corrupt. 

But like young citizens throughout the world, young Africans are significantly less likely than older cohorts to express their dissatisfaction and preferences at the ballot box. They also trail their elders in other forms of political engagement, such as joining others to raise an issue and contacting a local government councillor.  

The findings show that the youth rank unemployment and management of the economy as their top priorities for urgent government action, and large majorities see their governments as failing on these issues. 

Taken together, these deficits suggest that the voices of young Africans are not yet fully heard in the continent’s policy processes. 

The report examines factors that drive democratic support and satisfaction in Africa and includes country democracy scorecards (https://apo-opa.co/3WLaqFZ) that present graphic illustrations of Afrobarometer findings on the most critical indicators of attitudes toward democracy for each of the 39 countries surveyed. 

Afrobarometer survey  

Afrobarometer is a pan-African, non-partisan survey research network that provides reliable data on African experiences and evaluations of democracy, governance, and quality of life. Nine survey rounds in up to 42 countries have been completed since 1999. Round 9 surveys (2021/2023) cover 39 countries.  

Afrobarometer’s national partners conduct face-to-face interviews in the language of the respondent’s choice. National samples of 1,200-2,400 yield country-level results with margins of error of +/-2 to +/-3 percentage points at a 95% confidence level.  

Key findings 

1. On average across 39 countries, almost two-thirds (64%) of youth (aged 18-35) prefer democracy over any other kind of government (Figure 1).  

They join older cohorts in rejecting dictatorship (80%) and military rule (65%) but are more likely to accept military takeovers “when elected leaders abuse power for their own ends” (56% of youth vs. 47% of those over age 55).  
Youth are more likely than their elders to see “most” or “all” officials in the Presidency as corrupt (40%) and to be dissatisfied with the way democracy is working in their country (60%). 

2. Youth are less likely than older citizens to vote in elections: 63% of those old enough to vote in their country’s last election say they did so, compared to 78%-84% of older cohorts (Figure 2).  

They also trail in other forms of political engagement, including identifying with a political party, attending a community meeting, joining others to raise an issue, and contacting a local leader. 

3. Unemployment tops the list of the most important problems that African youth want their government to address (cited by 37%), followed by management of the economy (30%) and health (28%) (Figure 3). 

4. Only two in 10 youth (19%) say their government in performing well on job creation, while 25% and 41%, respectively are satisfied with the government’s performance on economic management and improving basic health services (Figure 4). 

African insights 2024 Flagship report: https://apo-opa.co/3SNz47Y

Distributed by APO Group on behalf of Afrobarometer.

For more information, please contact: 
Josephine Appiah-Nyamekye Sanny 
Acting director of communications 
Email: jappiah@afrobarometer.org  
Telephone: +233 243240933 
Visit us online at www.Afrobarometer.org. 

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