With a strong focus on African financing mechanisms that enhance both the oil and gas industry as well as the energy transition, African Energy Week (AEW) 2021 in Cape Town will be the platform where deals regarding Africa’s energy future will be made. In pursuit of an African financing narrative, Equatorial Guinea’s Secretary of State of Planning for the Minister of Finance, Economy and Planning has committed to coming to Cape Town on the 9th-12th of November 2021. Joined by Miguel Luba Bahosi, Director General of Planning, and Nieves Andeme Engonga, staff representative, Okiri will promote the role of domestic financing, digitization, and foreign investment in driving Africa’s energy future.
Having served as Secretary of State of Planning for the Minister since April 2021, Okiri has made notable progress in enhancing Equatorial Guinea’s financial sector. Dedicated to improving domestic financing institutions, and promoting the role that digitization will play in advancing Equatorial Guinea’s financial sector, Okiri is committed to driving a sustainable and inclusive financial sector, emphasizing the cross-benefits that financial stability has for the country’s emerging energy sector.
With significant energy sector developments in both onshore and offshore areas, and across multiple sectors including oil, gas and renewables, Equatorial Guinea is ramping up industry expansion, and is positioning its financial sector to help drive this. Projects such as the country’s Gas Mega Hub – a gas plan overseeing the development of several offshore gas facilities to monetize and exploit the country’s 1.5 trillion cubic feet of gas – the Punta Europa crude oil refinery, and several green energy developments, are attracting significant levels of investment into the country. Accordingly, the Ministry of Finance, Economic and Planning aims to ensure the country is ready for investment, and is focused on establishing sustainable partnerships with international financiers and stakeholders.
“The Equatorial Guinean finance delegation will both contribute and drive the discussion on financing Africa’s energy future. With the country hosting a pavilion at AEW 2021 in Cape Town, Okiri, Bahosi, and Engonga will help drive a strong discussion on Equatorial Guinean opportunities, positioning the country and both its financial and energy sectors as enabling, proactive, and poised for accelerated growth. By emphasizing the role of collaboration between these two Ministries, Okiri will promote integration and unity as being key drivers of energy sector growth,” stated Leoncio Amada NZE, Executive President of the CEMAC region, the African Energy Chamber (AEC).
The Equatorial Guinea finance delegation is committed to scaling up investment in the country, promoting partnerships, regional collaboration, and multi-lateral financing mechanisms in energy sector development. With the aim of strengthening national and institutional capacities, the delegation will not only promote Equatorial Guinean opportunities and achievements in Cape Town, but will share challenges, solutions, and future plans.
AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.Distributed by APO Group on behalf of African Energy Chamber.
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© Press Release 2021