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By Boris Esono Nwenfor, Pan African Visions
CAPE TOWN, SOUTH AFRICA / ACCESSWIRE / February 2, 2023 / In a vote of thanks following the successful organization of the Invest in African Energy event on 26 January 2023 at the Waldorf Hotel in London, NJ Ayuk, Executive Chairman of the Africa Energy Chamber, AEC, says more robust and technical dealmaking is expected at the 2023 edition of the African Energy Week, AEW.
Attended by over 500 people the high-powered event allowed stakeholders to engage in private meetings with several high-level government and company representatives from the African energy market.
"British hospitality was evident throughout the event, with unprecedented commitments to invest in Africa's burgeoning energy sector. We thank you for the advice and insights you have shared with us on how to accelerate Africa's transformational energy developments," said NJ Ayuk, Executive Chairman of the Africa Energy Chamber, AEC.
"We believe that for Africa to make energy poverty history among its population by 2030 - while contributing to global energy security and a just and inclusive energy transition, on the back of optimal development and exploitation of vast energy resources including oil, gas, hydrogen and renewables - we need to do it together. We have listened and we are committed to growing together."
NJ Ayuk added: "Investing in African Energy and driving free enterprise is not something the AEC can do alone. We need every person who believes in the free enterprise values of individual initiative, hard work and freedom of choice to stand with us. We need you to spread the word in your communities and remind people that free enterprise and oil and gas - even with their flaws - have done more to improve our condition than any other economic and energy system."
According to Rystad Energy - "Energy Addition for Africa" - Sub-Saharan Africa holds 140 billion barrels of oil equivalent, of which only one-third is developed and two-thirds of undeveloped resources are natural gas. New investment in oil and gas exploration and production is necessary, not only to maximize recent discoveries along Africa's 40,000-km coastline but also to meet rising energy demand globally and stabilize price hikes.
"Africans want to partner with UK businesses and financial institutions. Why? They want to partner because the UK has demonstrated its commitment to democracy, the rule of law and strong government institutions. 2022 was a difficult year for many Africans, but I remain optimistic that better days lie ahead, if only we return to the free enterprise principles that have served us so well," NJ Ayuk added.
"While the energy crisis across Europe is threatening jobs and economic developments - and energy poverty in Africa, especially in South Africa where blackouts have become the norm and the downfall of Africa's manufacturing powerhouse, disrupting the continent's socioeconomic developments - now more than ever is the time for UK investors and energy companies to maximize energy partnerships with Africa."
The Chamber believes that now is the time to optimize and ensure the sustainable development and exploitation of Africa's oil and gas resources. The Chamber is committed to continuing its partnership with African policymakers and UK investors and partners to create an enabling environment and facilitate Africa's energy sector expansion.
The third edition of African Energy Week is billed for October 16-20
Following a successful 2022 edition where $2.5 billion worth of deals to enhance Africa's energy landscape were signed, AEW 2023 will be bigger and better, according to the Executive Chairman of the Africa Energy Chamber.
The 2023 edition of the African Energy Week conference and exhibition - Africa's premier event for the energy sector, will be held from October 16 - 20 in Cape Town as the AEC continues to be a leading voice in shaping and accelerating African energy developments.
"The AEC will continue to campaign for increased investments and private sector participation, and drive market liberalization of Africa's energy sector by hosting many Invest in African Energy dialogues and deal signings with UK and African policymakers, private sector partners, energy stakeholders and investors," said NJ Ayuk.
"We would like you to continue to engage with our team throughout this year, as we promise more robust and technical dealmaking at AEW 2023. With the Invest in African Energy event in London a success, our road to Cape Town - where vast investment and partnership opportunities across Africa's hydrocarbon-rich basins for global energy firms and investors will be showcased - started in London."
The AEC opposes any proposals to silence the voice of those who believe in free markets, limited government, and our right to drill for natural gas while rapidly developing renewables.
Link to original article: http://bit.ly/3wSDw9W
Distributed by APO Group on behalf of Pan African Visions.
SOURCE: African Energy Chamber