Director of Project and Asset-Based Finance for the African Export-Import Bank (Afreximbank), Helen Aigbe Brume, is slated to address the financing of Africa’s energy expansion at the Invest in African Energy (IAE) forum in Paris.
Afreximbank, committed to funding and advancing intra- and extra-African trade, is pivotal in the development of African energy initiatives aimed at industrialization and economic progress.
In Angola, the multilateral financial institution is investing in the Cabinda oil refinery, which, upon completion, is expected to double the country’s refining capacity and diminish dependence on imported refined petroleum products, thereby reducing associated emissions.
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In Nigeria, Afreximbank is involved in the establishment of the country’s inaugural indigenous floating LNG facility with UTM Offshore, along with a $60-million gas processing facility with Alphaden Energy & Oilfield, with the objective of unlocking gas resources to enhance Africa’s energy security.
IAE 2024, an exclusive forum designed to promote collaboration between European investors and African energy markets, is scheduled to occur from May 14-15, 2024, in Paris.
The event offers participants two days of intensive interaction with industry experts, project developers, investors, and policymakers. For further details, please visit www.Invest-Africa-Energy.com.
With Africa’s traditional sources of capital scaling back their fossil fuel financing, Brume is anticipated to address strategies for navigating changing investor preferences while expediting the development of Africa’s energy infrastructure and fostering cooperation among African and global energy stakeholders.
Set to launch later this year, the Africa Energy Bank—a partnership between Afreximbank and the African Petroleum Producers Organization—aims to enhance energy accessibility by providing financing for both new and existing oil and gas projects across the continent.
“As a prominent financier in the sector, Afreximbank possesses the knowledge, expertise, and best practices required to stimulate energy finance amidst tightening capital conditions. We eagerly anticipate Afreximbank spearheading discussions at the forthcoming forum on topics such as capital mobilization, enhanced financing accessibility—especially for SMEs—and Africa’s long-term energy growth prospects,” remarks Sandra Jeque, Event & Project Director of IAE 2024.
