In 2023, lack of adequate investment represents one of the primary challenges to development across the African energy sector, with global capital trends shifting away from hydrocarbon resources as climate change becomes increasingly impactful. With oil and gas serving as a critical means for the African continent to industrialize and develop its economies, African-based financial institutions are expected to play a much larger role in financing energy developments, particularly as foreign lenders turn their attention to renewables. One such African-based institution is the Africa Energy Investment Corporation (AEICORP), whose Managing Director Zakaria Dosso has joined the African Energy Week (AEW) conference – taking place from October 16-20 in Cape Town – as a keynote speaker.
During this year’s event – which serves as the biggest gathering of energy stakeholders on the continent – Dosso will drive discussions around financing the future of African energy, exploring current challenges to investment, how regulatory frameworks can best support capital flows and the sectors with the highest potential for growth across the African energy market.
Taking place under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ this year’s AEW edition aims to address Africa’s growing investment and infrastructure gaps across the oil and gas industry. While progress to electrify the continent has been made, 600 million people in Africa are still living without access to electricity while 900 million people are without access to clean cooking solutions. Additionally, countries with expanded grid connections continue to face intermittency challenges associated with inadequate generation. At the same time, Africa holds an estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of proven natural gas reserves, figures which are expected to grow as new exploration campaigns unlock sizeable hydrocarbon finds continent-wide. With lack of investment in infrastructure such as refining, power systems and energy distribution limiting resource beneficiation and maximization, stakeholders are calling for heightened investment across the entire oil and gas value chain.
Stepping into this picture, development finance institutions (DFI) such as the AEICORP have recognized their role in the industry, and have accelerated hydrocarbon-directed financing by serving as a bridge between private lenders and target sectors. Established by the African Petroleum Producers Organization (APPO), the AEICORP has helped maximize upstream activities across Africa as well as the deployment of the mid- and downstream infrastructure required for Africa to monetize its energy resources. Representing the partner of choice and top provider of financing for Africa’s energy sector, the AEICORP has remained committed to scaling up energy security, driving economic growth and accelerating a just and inclusive energy transition for Africa. As such, the participation of the organization’s Managing Director Dosso at AEW 2023 will be crucial for driving dialogue around ongoing investment challenges and emerging opportunities across the continent’s entire energy value chain.
An accountant and engineer by profession, Dosso has been instrumental in growing Africa’s oil and gas market with the executive working as Deputy Finance&Accounting Manager at Ivorian oil and gas company GESTOCI as well as Executive Director at the APPO Fund between August 2015 and January 2019, prior to his selection as AEICORP’s Managing Director. With a wealth of experience in financing, Dosso will be instrumental in not only providing critical insight into the state of play of Africa’s investment climate but for connecting private sector players to African energy opportunities.
“The Chamber looks forward to hosting Zakaria Dosso at this year’s edition of the AEW conference where dialogue and deal signings will be centered around investing in Africa’s energy future. Now more than ever, the continent needs capital to drill more oil and gas wells, to develop its resources and to build more pipelines and refineries. AEICORP has so far exceeded other DFIs in enabling Africa’s hydrocarbons industry to thrive. We believe AEW presents an opportunity for Dosso to meet with global financial institutions and African stakeholders to sign the deals which will accelerate the growth of African energy,” stated NJ Ayuk, the Executive Chairman of the AEC.
Dosso will participate in high-level panel discussions and exclusive networking sessions, where industry stakeholders will showcase the bankability of African oil and gas projects and the role of the industry in making energy poverty history across the continent by 2030.
AEW is the AEC’s annual energy event uniting African policymakers and stakeholders with global investors and project developers. For more information about attendance, sponsorship and partnership opportunities, visit www.AECWeek.com
Distributed by APO Group on behalf of African Energy Chamber.