Africa’s oil and gas industry – key to improving energy access, boosting industrialization, boosting economic growth and achieving sustainable development – faces growing opposition from environmental groups and financial institutions seeking to undermine its potential. With more than 600 million people living without access to reliable energy, the continent must prioritize the development of its hydrocarbon resources while advancing local content initiatives that bring tangible benefits to African communities.
The African Energy Chamber (AEC), which serves as the voice of the African energy industry, remains steadfast in its advocacy for the industry’s role in eradicating energy poverty. As external forces intensify their opposition, the AEC calls for unwavering support from the industry in its efforts to connect African perspectives with global capital to unlock the socio-economic potential of Africa’s resources. Through platforms such as the African Energy Week (AEW): Invest in African Energies conference – which will be held from September 29 to October 3 in Cape Town – the AEC will continue to facilitate investment, advance oil and gas projects and gas companies and to advocate for the protection of Africa’s interests in global energy affairs.
Several important projects aimed at strengthening African industry continue to be attacked. Shell’s seismic campaign on South Africa’s rugged coastline – aimed at discovering and exploiting the country’s untapped oil and gas resources – has encountered some resistance. Similarly, the East African crude oil pipeline, which promises to improve energy security and economic development, has faced significant opposition. The AEC’s moves to connect African opportunities to global investors are increasingly contested.
The AEC, with the support of industry stakeholders, remains committed to empowering Africans, driving local content development and showcasing the continent’s vast energy potential. Fossil fuels are expected to represent more than 60% of Africa’s energy mix by 2040, highlighting their importance in meeting growing energy needs. With this in mind, this year’s AEW: Invest in African Energies conference will bring together global financiers and African stakeholders to promote investment, eradicate energy poverty and support local content initiatives.
-Under the theme “Positioning Africa as a global energy champion”, AEW: Invest in African Energies will encourage partnerships and collaboration to strengthen Africa’s energy future. The event has long played a vital role in facilitating deals across Africa’s energy value chain. In 2024, the event saw transformative deals including the African Export-Import Bank’s $16.8 million loan to support Nigeria’s crude oil evacuation and a $10 million trade finance deal dollars with Dorman Long Engineering. SNPC, the national oil company of the Republic of Congo, has also partnered with its Azerbaijani counterpart to improve the CORAF refinery. These are just some of the many agreements signed at AEW: Invest in African Energies 2024. Building on this momentum, the 2025 conference aims to unlock even more investment and collaboration.
“Oil and gas development is the cornerstone of Africa’s socio-economic progress,” said AEC Executive Chairman NJ Ayuk. “We must be firm in our commitment to put in place baby drilling policies that will encourage more investment on our continent. Africa needs more drilling, licensing, permitting and rapid approvals, reduced taxes on oil and gas projects and a united front against external efforts that undermine the continent’s growth. The Chamber strongly supports initiatives that harness Africa’s resources to benefit local economies and transform lives across the continent and make energy poverty history.”
