Latest news with #Africa
Zawya
33 minutes ago
- Business
- Zawya
African Energy Week (AEW) 2025 Upstream E&P Track to Foster Dialogue and Deals Amid African Exploration Surge
Amid Africa's ongoing exploration and production surge, this year's African Energy Week (AEW): Invest in African Energies conference will host a dedicated Upstream E&P Track. The track - taking place as part of the main conference agenda from September 29 to October 3 – will tackle the most pressing challenges and opportunities across the upstream oil and gas sector, delving into topics such as deepwater development, onshore prospects, the role of independent firms and balancing African priorities with global supply dynamics. As the largest event of its kind on the continent, AEW: Invest in African Energies 2025 represents the platform of choice for Africa's upstream sector. Africa's upstream oil and gas sector is on the precipice of significant growth, boosted by a $54 billion capital expenditure drive expected by 2030. Across the continent, both established oil and gas markets and frontier players are seeking capital to bolster production while unlocking new basins in deepwater and onshore basins. The continent's exploration surge is further supported by growing demand in African markets as well as a rise in global gas imports. The AEW: Invest in African Energies 2025 Upstream E&P Track will explore these shifting dynamics, offering a platform for new exploration and production deals to be signed. AEW: Invest in African Energies 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 for more information about this exciting event. To entice greater spending across the upstream sector, many African countries are laying the foundation for new investments by both majors and independent energy companies. A string of licensing rounds is being launched in 2025, offering exploration opportunities across a variety of acreage. Licensing rounds are planned in Angola, the Republic of Congo, Tanzania, Mauritania and South Africa, while Libya, Nigeria, Algeria and Liberia have already launched their respective bid rounds. The Upstream E&P Track will explore the impact of these rounds. Sessions include What's Next for African Upstream in 2026; Exploration Hotspots; and Basins Without Borders: Unlocking the Full Potential of Cross-Border Basins in the Transform Margin. Additionally, panel discussions will examine emerging prospects in frontier basins, with sessions taking place on Frontier Plays Within Africa's Mature Basins; Offshore and Deepwater Plays; and Unlocking Africa's Onshore and Shallow-Water Potential. While global energy majors expand their portfolios in Africa, independent oil and gas firms are taking on a more prominent role in exploration and production. International oil company divestment has opened-up new pathways for African independents, and as such, more companies are taking the lead on asset development. AEW: Invest in African Energies will host panel discussions on The Making of an African Independent; Technology and Innovation: Rethinking Asset Development to Accelerate Upstream Success; as well as Crude Value Benchmarking with Ever-Changing Light, Heavy Balance, exploring opportunities for independents in Africa. Meanwhile, with global gas demand projected to increase 10% between 2021 and 2030, African countries are strategically positioned to accelerate exploration and play a more central role in global supply chains. With over 620 trillion cubic feet of proven gas reserves on the continent – most of which remains under-developed – Africa has a unique opportunity to leverage its resources to produce low-carbon, cost-effective fuel. Panel discussions on Decarbonizing Pathways for African Oil and Gas; The Outlook for Global LNG; and The Role of African LNG in a Dynamic Export Market will address these opportunities, while a session on Beyond Exports: Developing Commercially Viable Domestic Gas Markets, will examine how the continent can leverage its resources for domestic growth. The track will also feature panel discussions on strategic oil and gas markets in Africa, including Algeria, Equatorial Guinea, Angola, and more. These sessions are geared towards companies seeking growth opportunities in proven markets and are expected to unlock new deal-signing and partnerships prospects. Beyond panel discussions, the Upstream E&P Track will feature a series of fireside chats, with participating companies including Renaissance Africa Energy, Northern Ocean, Seplat Energy and more. 'Africa's upstream oil and gas market is witnessing a surge of investment, as operators seek to expand their portfolios and governments target near-term production. Amid this growth, strategic financing gaps have emerged. The AEW: Invest in African Energies 2025 Upstream E&P Track seeks to address these challenges by bringing together major players from the market to engage and sign deals,' says Oré Onagbesan, AEW: Invest in African Energies Program Director. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
33 minutes ago
- Business
- Zawya
Tunisia: FDI up 21% in 2024 (UNCTAD)
Tunis - Foreign Direct Investment (FDI) in Tunisia increased by 21% in 2024, compared to 2023, reaching $936 million, according to the latest World Investment Report published Thursday by the United Nations Conference on Trade and Development (UNCTAD). Along with Egypt, Tunisia contributed «significantly» to the rise in the value of new projects in North Africa, where investments grew by 12% to reach $76 billion, accounting for two-thirds of the continent's total investment spending. Tunisia contributed to this growth with investment announcements worth $13 billion, along with a considerable increase in the number of projects. According to UNCTAD, North Africa was the only region in the continent to record an increase in the value of new projects. It also attracted the highest amount of FDI on the continent, with a value of $51 billion, compared to $13 billion in 2023. Moreover, the report highlighted a significant rebound in FDI flows to Africa, which surged by 75% to reach $97 billion, representing 6% of global FDI flows, compared to 4% the previous year. This increase is largely attributed to an international financing agreement for urban development projects in Egypt, according to the same source. Excluding this boost, FDI in Africa still grew by 12%, reaching about $62 billion, which is 4% of global flows. Efforts to facilitate investment continued to play an important role in Africa, accounting for 36% of investor-friendly policy measures. Liberalisation also remained a key aspect of investment policy-making in both Africa and Asia, representing one-fifth of the measures adopted in 2024. The continent attracted a growing share of global megaprojects in 2024, including seven valued at over $4 billion each. Among the largest announcements was a megaproject in Tunisia's renewable energy sector, worth a total of $6 billion. At the sector level, construction and metal products saw the largest increases in investment in entirely new projects, while electricity and gas supply projects dropped by $51 billion. According to the report, European investors hold the largest stock of FDI in Africa, followed by the United States and China. Chinese investments, valued at $42 billion, are diversifying into sectors such as pharmaceuticals and agribusiness. © Tap 2022 Provided by SyndiGate Media Inc. (
Russia Today
an hour ago
- Business
- Russia Today
Putin comments on Russia–South Africa relations
Russian President Vladimir Putin has highlighted Moscow's deepening relationship with Pretoria during talks with South African Vice President Paul Mashatile, describing it as a 'comprehensive strategic partnership' built on equality and mutual respect. The two leaders met on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF) on Thursday. 'Relations between Russia and South Africa are developing successfully. We are in regular contact with President of South Africa Cyril Ramaphosa. Last year, we held detailed discussions with him in Kazan during the BRICS Summit, outlining steps for further cooperation,' Putin said. Pretoria and Moscow have maintained diplomatic relations since 1992, with longstanding cooperation in several areas including trade and education. During an earlier meeting with Russian Prime Minister Mikhail Mishustin in Moscow on Wednesday, the South African Vice President expressed Pretoria's ambition to see trade with Moscow double. He also invited Russian companies to invest in South Africa, describing it as 'the gateway to the continent of Africa,' offering access to a market of over one billion people. Mashatile told President Putin on Thursday that he had been tasked by South African President Cyril Ramaphosa to transform the 'strong foundation' of strategic relations into expanded trade and economic cooperation for the mutual benefit of the two BRICS nations. 'South Africa continues to call on the support of Russia's influence within the Eurasian Economic Union to reconsider South Africa from an undeveloped to a developing country. This had a significant impact on South African products and trade to the Eurasian market,' he stated. Putin pledged to expand and diversify mutual trade and investment with South Africa, noting that bilateral trade grew by approximately 2% in 2024. 'Overall, strengthening ties with African nations remains one of our key priorities,' the President reiterated. The Russian president underscored education as a priority sector in engagement with African nations, citing Moscow's longstanding commitment to academic exchange. He noted that more than 40 Russian universities have established partnerships with South African institutions, and that around 570 South African students are currently studying at Russian universities.
Yahoo
an hour ago
- Business
- Yahoo
Hilton plans to triple its hotel presence in Africa
Hilton plans to significantly expand its hotel presence across Africa, aiming to operate over 160 hotels in the coming years. This growth involves opening more than 100 new properties across key African markets including Ghana, Benin, Nigeria, Angola, and Madagascar. The expansion is expected to support the continent's growing hospitality industry and create approximately 18,000 new jobs. The hotel group recently entered Angola with three signed properties: Hilton Luanda Hotel Godinho, Hilton Garden Inn Luanda Airport, and DoubleTree by Hilton Cabinda Futila Residences. These hotels will offer a range of amenities such as beachfront locations, meeting spaces, restaurants, and leisure facilities. Hilton's entry into Benin is marked by the upcoming Hilton Cotonou, positioned strategically near government offices and embassies to boost business and tourism opportunities. In Madagascar, Hilton will open two hotels in the capital city Antananarivo: a Hilton property and a Hilton Garden Inn. Both are designed to cater to business and leisure travellers with extensive meeting rooms and fitness facilities. Nigeria will see the introduction of Hilton Lagos Ikeja, Hilton Garden Inn Kano, and The Wave Hotel Abuja Jabi from Hilton's Curio Collection, adding to the country's hospitality offerings in business and residential districts. Hilton's expansion strategy places a strong emphasis on employment, with current recruitment efforts already underway for 600 positions across Africa. The projected 18,000 new jobs will span hospitality roles and related sectors, supporting local economies. Several developments are located near major airports, business districts, and government hubs to leverage business travel demand and event hosting capabilities. The group also plans to integrate its loyalty programme, Hilton Honors, across all properties to enhance customer engagement. Recent hotel openings include Canopy by Hilton Cape Town Longkloof, Hampton by Hilton Sandton Grayston, and DoubleTree by Hilton Addis Ababa Airport. Later this year, Hilton is set to debut in Ghana with the Hilton Accra Cantonments hotel, featuring over 140 rooms, dining venues, event spaces, and wellness facilities. In North Africa, the portfolio will grow substantially, with multiple new hotels planned in Egypt, Morocco, and a DoubleTree property in the historic city of Fes. Hilton's expansion reflects broader trends in Africa's hospitality sector, driven by increasing business travel, tourism development, and infrastructure investment. The planned growth reinforces the company's long-standing presence on the continent, which spans over six decades. "Hilton plans to triple its hotel presence in Africa" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
an hour ago
- Business
- Zawya
Tanzania opens skies to stem tourism losses after EU flights ban
In a bid to restore the confidence of air travellers to Tanzania, the government has extended traffic rights to international airlines to stem a crisis following the recent European Union ban on Tanzania-registered aircraft. Tanzania Civil Aviation Authority (TCAA), in extending freedoms of the air to KLM Royal Dutch Airlines, Ethiopian Airlines and Qatar Airways, said the decision was to safeguard tourism, business continuity and international mobility.'The TCAA has granted additional rights, for a period of six months, to KLM, Ethiopian Airlines and Qatar Airways to support and facilitate local and regional connections to major Tanzanian destinations,' director-general Salim Msangi said in a statement. The authority assured travellers that the European Union ban on all planes registered in the country did not apply to aircraft certified outside Tanzania. The assurance came as foreign travellers started to shun air transport in Tanzania, with many cancelling their safaris, a move that Tanzania Association of Tour Operators (Tato) said affected the tourism industry.'This has greatly impacted the industry, as most tourists were refusing to get on planes, even while flying to the national parks, opting for road trips instead,' said Tato chairperson Willy Chambulo. But he was more concerned about cancelled international flights by tourists who had booked safaris to Tanzania and called on the government to speed up the process of clearing the issue with the EU. The ban was an indictment of the TCAA, and Msangi says they are taking the necessary measures to ensure seamless movement and constant connectivity to and from all destinations in Tanzania. He said the EU decision does not affect airlines that are registered outside Tanzania, and pleaded with Tanzania-bound travellers to stop cancelling their bookings. The authority said Tanzanian operators that have regulatory clearance to partner with internationally registered operators through codeshare or block permit arrangements still allow continued operation within destinations in Tanzania, without disruption.'We take this opportunity to reaffirm that Tanzania remains open and accessible, and the aviation sector continues to function under international safety and regulatory standards. These temporary arrangements are designed to preserve business continuity, investor confidence, and service reliability during this period,' TCAA said. National carrier Air Tanzania (ATCL) is among airlines banned from flying within the European Union's airspace because of safety concerns. This decision was based on serious safety concerns identified during assessments conducted by the EU aviation safety experts. They revealed that civil aviation authorities were unable to ensure compliance with international safety standards for air carriers. For Suriname and Tanzania, the identified safety shortcomings cover both operational and regulatory areas. A total of 169 airlines are banned from EU skies. These include a shortage of qualified personnel, ineffective oversight processes in flight operations and airworthiness, and non-compliance with international safety standards by both countries' civil aviation authorities and certified air carriers. The EU Air Safety List is based on the unanimous opinion of member state aviation safety experts, who met in Brussels from May 13 to 15 2025 under the auspices of the EU Air Safety Committee. This Committee is chaired by the European Commission with support from the European Union Aviation Safety Agency (EASA). The European Parliament's Transport Committee supported the update. Decisions under the EU Air Safety List are based on international safety standards, and notably the standards decreed by the International Civil Aviation Organisation (ICAO). Another 22 airlines certified in Russia, as well as five individual airlines from other states, based on serious safety deficiencies identified: Air Zimbabwe (Zimbabwe), Avior Airlines (Venezuela), Iran Aseman Airlines (Iran), Fly Baghdad (Iraq) and Iraqi Airways (Iraq) are either banned from operating in the EU or face operational restrictions. Two additional airlines are subject to operational restrictions and can only fly to the EU with specific aircraft types: Iran Air (Iran) and Air Koryo (Democratic People's Republic of Korea). Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas insisted that passenger safety remains their top priority. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
