Page 10 - AfrOil Week 20 2022

AfrOil PIPELINES & TRANSPORT AfrOil

The EACOP pipeline will run for 1,443 km from Hoima to Tanga (Image: African Energy Chamber)
Bolloré is one of the largest transport and logis- African operations to MSC Group (Switzerland)
tics firms on the African continent, where it has for $6.3bn and expected to complete the transac-
been active since 1927. Today it has operations tion by the end of the first quarter of 2023.
in 47 African countries. It has 21,000 employees. In the same deal, MSC will also be acquir-
In a statement last month, the company said ing the company’s terminal operations in Haiti,
it was awaiting regulatory approval to sell its India and East Timor. ™

INVESTMENT
Afreximbank, APPO sign MoU on creation

of pan-African oil and gas financing entity

REGIONAL THE African Export-Import Bank (Afrex-
imbank) and the African Petroleum Producers
Organisation (APPO) are teaming up to estab-
lish a new avenue of funding for oil and gas
projects in Africa, the African Energy Chamber
(AEC) reported on Monday, May 16.
In a statement, AEC said that Afreximbank
and APPO had signed a memorandum of
understanding (MoU) on the establishment
of a new pan-African energy bank. The docu-
ment was finalised by Rene Awambeng, Afrex-
imbank’s director and global head of client
relations, and Dr. Omar Farouk, APPO’s secre-
tary-general, during the CAPE VIII conference
in Luanda.
The signing ceremony was attended by The African Energy Bank will support both new and existing projects (Photo: AEC)
Angolan President João Lourenço, as well as
cabinet-level ministers from APPO member financial support for existing and new invest-
states and AEC’s executive chairman NJ Ayuk. ment projects while also supporting initiatives
The document calls for the creation of a mul- all the way up and down the energy value chain,
ti-billion-dollar institution capable of “scaling it added.
up private-sector investment in African oil and The AEC did not say exactly what steps
gas projects,” the statement said. APPO and the bank intended to take to set up
The African Energy Bank will provide the proposed African Energy Bank.

P10 www. NEWSBASE .com Week 20 18•May•2022