More than US$25 Billion Worth of Deals Kicked off at African Energy Week in Cape Town
As the continent’s premier energy event, as well as the biggest event to take place in Africa in 2021, African Energy Week (AEW) 2021 did not only comprise the best platform for a discussion on Africa’s energy future, but the ideal place for deal making and investment. Notably, through a range of platform discussions, closed door engagement sessions, and networking functions, AEW 2021 saw a range of deals being negotiated in Cape Town that are likely to be translated into accelerated energy sector development.
Uniting African and global energy players under one comprehensive event program, AEW 2021 offered delegates a range of event sessions to participate in. With a focus on fostering relationships between stakeholders, the event aimed to usher in a new wave of enhanced investment and development in Africa’s energy sector.
Accordingly, in addition to conference sessions and panel discussions, networking events such as the VIP networking cocktail evening sponsored by Société Nationale des Pétroles du Congo; the QSL Gas & Power cocktail event; the South Sudan investor breakfast sponsored by Trinity Energy; the Women in Leadership brunch sponsored by ReconAfrica; and the Afreximbank sponsored golf day provided the best opportunity for deal making.
Emphasizing the role national oil companies (NOC) play in Africa’s energy sector growth, a dedicated NOC Summit during AEW 2021 united Africa’s top NOCs, providing them with the opportunity to discuss the challenges and opportunities they face in the sector, promote the fostering of cooperation and partnerships, and moving the continent into a new era of integration and collaboration. At the NOC Summit, NOCs made a strong case for collaboration, with Letters of Intent (LOI) and deals signed that will further consolidate partnerships and drive regional energy growth.
“Africa needs to focus on integration and collaboration if it is to realize its energy and economic objectives. By providing stakeholders with the premium opportunity to facilitate investment, sign deals, and drive transactions across Africa’s energy landscape, the outcome of AEW 2021 was hardcore dealmaking and long-term investment commitments in Africa,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC).
What’s more, with the event taking place across four venues at the V&A Waterfront, AEW 2021 offered a range of different meeting opportunities for delegates including private meeting rooms, breakfast and lunch functions, as well as lounges. Accordingly, the event is proud to promote a number of LOI and Memorandum of Understanding (MoU) agreements signed between delegates. With delegates coming from both African and international destinations, covering a range of sectors and the entire energy sector value chain, AEW 2021 was the ideal platform to collaborate.
The tightening of capital expenditure coupled with the lack of investment in hydrocarbons have caused significant delays to Africa’s oil and gas development during 2020-2021. With the pandemic further restricting spending and driving the transition to alternative fuels, Africa requires, now more than ever, significant investment to address energy poverty and drive socio-economic growth. AEW 2021 addressed this challenge head on, offering African governments the opportunity to directly engage with international financiers. Accordingly, deal flow has seen an uptake in Africa, all attributed to AEW 2021.
Additionally, with global investment being redirected to renewable energy sources in the face of the energy transition, Africa requires innovative capital raising solutions in order to accelerate hydrocarbon developments. At AEW 2021, participants emphasized the role that domestic financing solutions will play in driving growth, and thus, representing the ideal platform for engagement and dealmaking between African stakeholders, a range of deals were negotiated between African players.
As African energy players begin to reap the rewards brought about by AEW 2021, the continent is on track to significantly enhance energy sector growth in the wake of the COVID-19 pandemic and global energy transition. With the primary focus of AEW 2022 being on enabling environments as a catalyst for enhanced investment, the event is well positioned to drive even more investment and deals within Africa’s energy sector.
AEW 2022, is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.
Distributed by APO Group on behalf of African Energy Chamber.