DGAP-News: African Energy Chamber
/ Key word(s): Personnel
New Investment Committee to Provide Solutions to Finance Africa's Energy Resurgence
René Awambeng, Global Head, Client Relations, Afreximbank
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Members of the Investment Committee serve in their personal capacity and gather a wide range of expertise in finance, legal and consulting. Together, they will play a key role in supporting the African Energy Chamber's investment outreach initiatives.
With billions of dollars required every year to upgrade its energy infrastructure and fight energy poverty, the continent needs to successfully mobilize a wide variety of capital and financing. In doing so, African energy markets should be engaging with a broader range of capital providers, from traditional lenders to global institutional investors and private equity firms to venture capitalists. The energy resurgence of the continent following the Covid-19 will require all stakeholders to come together and find new ways to structuring deals and raising capital for the benefits of local economies and jobs creation.
"Our Investment Committee is central to the African Energy Chamber's objective of providing a bridge between investors and the continent's energy industry. Africa has limitless investment opportunities across energy sources and across value-chains, and there is a pressing need to communicate better with financiers and investors to increase investments in the continent," stated NJ Ayuk, Executive Chairman at the African Energy Chamber. "The African Energy Chamber has made it its mission to boost capital and technology inflow on the continent, from engaging with new capital providers interested in Africa to advising on the structuring of better and future deals," he concluded.
Landmark gas projects across Africa have managed to attract regional and global capital in recent months and years. From Senegal to Mozambique and Equatorial Guinea, Africa has demonstrated its ability to attract funding. However, investment is still falling short of market needs. While Nigeria's ongoing Marginal Fields Bidding Round stands to be a success, access to financing the development of such fields will remain a key challenge for the operators. African Energy companies in Nigeria, Cameroon, Gabon, Ghana, Mozambique and South Sudan, Uganda and South Africa continue to see capital as their biggest obstacle when it comes to developing African natural resources or even competing for service contracts.
05.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.