…Oramah, Ibrahim bag Mohammad Barkindo’s Lifetime Award
By William Emmanuel Ukpoju
Africa Energy Week (AEW) 2024 is shaping up to be one of the most influential energy events on the continent this year, bringing together key players from both the private and public sectors to discuss Africa’s role in the global energy market. Valuechain sheds more insight into this year’s event and its significance for the African energy landscape.
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he African Energy Week (AEW) 2024, hosted annually by the African Energy Chamber (AEC), is a landmark event for the continent’s energy sector and this year’s edition will take place in Cape Town, South Africa, from 4-8 November, is expected to live up to expectation as several new deals and partnerships are set to be sealed.
This comes as the President and Chairman of the Board of Directors of Pan-African multilateral investment firm, the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, and the Secretary General of African Petroleum Producers’ Orgaization (APPO), Dr. Omar Farouk Ibrahim will receive the Mohammad S. Barkindo Lifetime Achievement Award at the event, representing the highest honour in African energy week. The award recognizes an individual who has made remarkable achievements and lasting contributions to Africa’s oil, gas and energy sectors. One of the institution’s biggest milestones under Oramah and Ibrahim’s leadership is the launch of the Africa Energy Bank (AEB).
The African Energy Week (AEW) event will unite African energy leaders, global investors and executives from across the public and private sectors for intense dialogue on the future of the African energy industry. An interactive conference, exhibition and networking event, AEW was established in 2021 under the premise of making energy poverty history by 2030, hosting panel discussions, investor forums, industry summits and one-on-one meeting opportunities, and driving the discussions that will reshape the trajectory of the continent’s energy development.
The 2024 event will be bigger and better than ever before, serving as the official meeting place for Africa’s energy elite to collaborate on energy projects that can drive economic growth and development in Africa. Covering the entire energy sector and value chain, the AEW conference will once again witness the convergence of government leaders, industry giants, investors, and thought leaders to shape the future of Africa’s energy landscape. The event will feature keynote addresses from high-level figures including the Secretary General of APPO, Dr. Omar Farouk Ibrahim, Secretary General, Organization for Petroleum Exporting Countries (OPEC) Haitham Al Ghais, Executive Secretary of African Refiners and Distribution Association (ARDA), Anibor Kragha, and Prof. Benedict Oramah, President, Afreximbank. Among the energy ministers expected to grace the event are Nigeria’s Ministers of Power, Chief. Adebayo Adelabu, the Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri and his counterpart, Hon. Ekperikpo Ekpo respectively.
Also on the lineup of energy ministers are South Africa’s Minister of Mineral Resources and Energy, Hon. Gwede Mantashe; Minister of Energy, Republic of Ghana, Dr. Matthew Opoku Prempeh; Minister of Mineral Resources and Petroleum, Republic of Angola and President of the OPEC Conference, Dr. Diamantino Pedro Azevedo and Minister of Energy and Mines Democratic Republic of Algeria Mohamed Arkab, among numerous others. The event will witness the participation of CEOs of major oil and gas companies including Sonatrach CEO Rachid Hachichi, CEO Sonangol Sebastião Gaspar Martins, Roger Brown who is the CEO, Seplat Energies, Adewale Tinubu, GCE, Oando Plc among numerous other experts in the energy landscape. These leaders are expected to provide key insights into the direction of energy policies, investments, and innovations across the continent.
The agenda for AEW 2024 promises to cover a wide range of topics, including the role of oil and gas in Africa’s energy mix amid the global energy transition; policies for driving renewable energy adoption in Africa; financing the energy transition: Opportunities and challenges; unlocking the potential of African energy markets for sustainable growth and energy access across rural and underserved areas. These and many other subthemes are expected to spark lively debates and collaborations that could shape Africa’s energy future for decades to come.
This year’s event is significant for the African energy landscape for so many reasons but two are worth revealing.
Energy transition, sustainable development key focus areas
Africa is home to vast reserves of oil, gas, and renewable energy resources, which positions the continent as a major player in global energy discussions. Countries such as Nigeria, Angola, and Algeria have long been prominent exporters of oil and gas, contributing significantly to their economies. However, as global priorities shift towards reducing carbon emissions and promoting sustainability, the continent is under pressure to diversify its energy sources. AEW 2024 offers a platform to address this shift.
While Africa’s traditional energy sector (oil and gas) remains essential for the short-to-medium term, there is growing recognition that renewable energy solutions such as solar, wind, and hydropower offer long-term, sustainable growth potential. Many African nations are already embracing renewable energy, and the event will highlight successful projects that serve as models for the continent. For example, South Africa’s solar and wind farms, Kenya’s geothermal energy sector, and Morocco’s leadership in solar energy will be explored in-depth during various panel discussions.
The challenge for other African countries aiming at this feat will be harnessing their traditional energy sources like oil and gas while embracing renewable energy solutions such as wind, solar, and hydropower. AEW will provide the space for African leaders to collaborate on how to manage this dual approach—continuing to exploit fossil fuels responsibly while ramping up investments in clean energy technologies.
Policies and Regulations for Energy Growth
Another significant issue that will be highlighted at the AEW 2024 is policy reforms needed to encourage private sector investment, streamline regulatory processes, and create an enabling environment for both traditional and renewable energy projects
For Africa’s energy sector to thrive, there must be supportive government policies and regulatory frameworks in place. Key regulatory challenges which will be highlighted are bureaucratic red tape that often slows down energy projects; incentives and subsidies to promote renewable energy and implementing carbon pricing or other climate-focused policies that encourage cleaner energy production.
Energy ministers, leaders and experts from across the continent are expected to share insights into how their countries are addressing these issues. Additionally, international partners like the World Bank, International Finance Corporation (IFC), and other multilateral organizations are expected to offer funding solutions and technical assistance to support African governments in achieving their energy goals.
The African Energy Week 2024 will not just be another industry conference but a catalyst for change, driving the conversations that will determine how Africa’s energy resources can be used to promote economic growth, achieve energy independence, and contribute to the global fight against climate change. With the world watching, AEW 2024 is poised to lead Africa into a new era of energy innovation, investment, and sustainability.
African Energy Week 2024 will offer a unique platform for stakeholders to engage in high-level discussions and make crucial decisions that will impact the future of the continent’s energy sector. As the energy world shifts, Africa’s potential remains undeniable, and AEW 2024 will be at the forefront of this transformation.