Page 11 - DMEA Week 12 2023

DMEA COMPANIES DMEA

ARDA appoints new head

SOUTH AFRICA DR Mustapha Abdul-Hamid has been tailored towards the downstream oil sector and
announced as the winner of an election for pres- comprised of members such as African oil refin-
ident of the African Refiners and Distributors ers, importers, terminal operators, major mar-
Association (ARDA), succeeding his predeces- keters, distributors and industry regulators.
sor Marieme Ndoye Decraene from Senegal. The Cape Town meeting also allowed Kragha
Hamid is to be the first Ghanaian to lead the to stress the importance of keeping funds
organisation, and the first president to come invested in the continent rather than offshore
from a background of downstream petroleum to provide financing for an estimated upcom-
regulation, unanimously ratified by The Execu- ing $190bn annual energy cost in Africa due to
tive Committee of the continental body and the energy transitions and a need for more energy
AGM in Cape Town last week. security. “Separate implementation strategies
As leader of the organisation, Hamid will be are needed for cleaner, lower-carbon generating
responsible for chairing and running AGMs and fuels to meet the critical current demands and
executive committee meetings. the urgent progress towards sustainable renew-
Annibor Kragha was also re-elected for a able energy, and a measured decade-by-decade
second term as executive secretary in a unani- sustainable financing plan is essential to ensure
mous vote by ARDA and was quoted as saying that investments are made to deliver a unique
regarding Hamid’s position: “Dr Abdul-Hamid’s African energy transition,” Kragha said.
honesty and integrity in public life made him a He added that ARDA was “Committed to
suitable candidate for the top job”. securing project financing for strategic opportu-
Conceived in 2006, ARDA is an organisation nities for the African downstream oil sector and
with its headquarters in Geneva, but operational providing funds for refinery upgrades for clean
offices in Abidjan, Cote d’Ivoire. The group was fuels storage and distribution, as well as petro-
the first pan-African organisation of its kind, chemical and LPG sector development.”™

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