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AGL to develop Pointe Noire project in Congo

The new 750-meter quay will double the terminal’s capacity. (Image source: Adobe Stock)

As part of production optimisation strategy, the Republic of Congo is advancing investments on infrastructure development

With aims to expand the container terminal at the Port of Pointe Noire, a €230mn in financing has been generated to onboard freight forwarding service Africa Global Logistics (AGL) for the project.

The new 750-meter quay – scheduled for completion by 2027 – will double the terminal’s capacity to 2.3 million containers annually and support the country’s growing oil and LNG exports.
The Pointe Noire project is being executed by AGL’s subsidiary Congo Terminal in collaboration with engineering firm China Road and Bridge Corporation. Backed by both international and Congolese banks, the €400mn platform will include 26 hectares of quayside, a dredged 17-meter-deep basin, and the installation of 16 gantries. It forms a key part of Congo’s strategy to boost hydrocarbon production to 500,000 barrels of oil per day and LNG output to 3 million tons per annum within five years.

In Angola, AGL also launched operations at its Lobito Terminal in March last year. The terminal – Angola’s second-largest port hub – handles over one million tons of bulk cargo and more than 100,000 20-ft equivalent unit containers annually, with 730 employees operating deepwater berths and modern equipment. The project comes at a pivotal time for Angola, which is preparing to bring several major energy developments online between 2025 and 2028. These include the Cabinda Oil Refinery in 2025, the Agogo Integrated West Hub development in late-2025, the Quiluma and Maboqueiro gas fields in 2026 and the Kaminho Deepwater Development in 2028.

Meanwhile, in Ivory Coast, AGL is playing a vital role in Phase 2 of the Baleine offshore development - West Africa’s first net-zero emissions project. In partnership with engineering firm Saipem, AGL began manufacturing critical subsea structures for the Baleine field in April 2024 at its Carena shipyard in Abidjan. The works include anchoring systems and underwater fixtures totaling over 200 tons, to be deployed in ultra-deep waters. AGL has mobilized 100 skilled local workers – including certified welders, painters and crane operators – reinforcing its commitment to local content, capacity building and sustainable energy infrastructure in Ivory Coast’s rapidly growing oil and gas sector.

AGL’s recent activities in Africa align with its broader vision to support the continent’s energy infrastructure. In addition to the Republic of Congo, Angola and Ivory Coast, the company is currently modernising the Walvis Bay terminal in Namibia while playing a key role in major energy logistics across Mauritania, Senegal and Mozambique.

Unlocking Africa’s oil and gas potential

A robust petrochemicals industry can diversify African economies. (Image source: Adobe Stock)

A thriving local refining sector requires a skilled workforce, which translates into job creation across various levels, from engineers and technicians to construction workers and administrative staff

The development of local refineries can also stimulate growth in related industries, such as transportation, logistics and service sectors, further amplifying employment opportunities.

Building a robust petrochemicals industry enables countries to diversify their economies. Petrochemicals serve as essential inputs for numerous sectors, including agriculture (fertilisers), manufacturing (plastics), and pharmaceuticals. By investing in this industry, countries can reduce their reliance on a single commodity – oil – and create a more resilient economic structure.

By minimising crude oil exports and focusing on value addition, nations can create jobs and stimulate economic growth. This comprehensive strategy not only enhances national wealth but also contributes to the overall well-being of African populations, aligning economic success with social progress.

The concept of ‘profit versus purpose’ serves as a guiding principle in the ongoing debate about energy policy. This framework integrates economic objectives with social and environmental goals, demonstrating that financial success and societal benefit are not mutually exclusive. By prioritising investments that address energy poverty and promote social equity, businesses can contribute to the continent's sustainable development while remaining economically viable.

Investing in energy solutions in underserved regions presents unique challenges, including high initial costs and limited access to traditional financing. However, these challenges also create opportunities for innovative financing mechanisms. Multilateral finance institutions and climate finance initiatives can play the central role in mobilising resources and sharing financial burdens.

Shared value mechanisms allow companies to align their business operations with social impact goals, unlocking new market opportunities while addressing critical issues like energy access. Investing in off-grid renewable energy solutions, for instance, can enable companies to tackle energy poverty while expanding their market reach.

The pathway to unlocking Africa’s oil and gas potential lies in balancing effective governance with the principles of profit for purpose. African governments must create policies that not only attract sustainable investment but also prioritise the welfare of their citizens.

By implementing transparent frameworks, favourable fiscal terms, and innovative financing models, African countries can harness their natural resources for the greater good. This collective responsibility to promote sustainable development will ensure that the benefits of oil and gas investments extend beyond profit, enriching communities and driving long-term economic growth across the continent.

This is the last of a two-part article written by Taona Kokera, director - head of infrastructure finance advisory at Forvis Mazars in South Africa

Namibia and Botswana to build refinery

A new refinery can enhance the value of local crude. (Image source: Adobe Stock)

In a major step towards local collaboration, Botswana and Namibia are planning to jointly develop an oil refinery to enhance the value of local crude and cut down fuel imports

Namibia's President Netumbo Nandi-Ndaitwah and Botswana's President Duma Boko have discoursed on the idea while the former's recent working visit to Gaborone.

Other areas of improvement considered was the diamond sector as the nation representatives agreed to engage their respective mining ministers for close coordination to advance revenue generation.

The Ministers also discussed ways to boost logistics and trade through Namibia's Port of Walvis Bay.

Afreximbank issues major aid for African refineries

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Afreximbank wants to boost regional processing capacity. (Image source: Adobe Stock)

African Export-Import Bank has released a US$3bn revolving credit line to simplify the sourcing of petrol, diesel, jet fuel and other products from African refineries

Besides providing a safeguard against current geoplitical tensions and tariff uncertainties, the move will expectedly bring some relief for the African and Caribbean buyers as it takes the pressure off of nearly a US$30bn fuel import bill that the region has to bear annually.

The bank believes that the aid might give the facility the much needed push to generate around US$10-14bn of trade finance over the initial three years.

This comes as part of the Revolving Intra-African Oil Import Financing Programme.

Key refining hub

In a bid to boost regional processing capacity, Afreximbank has also been the largest financier of Nigeria’s 650,000-barrel-per-day Dangote refinery. It has contributed to the revamping of Nigeria's Port Harcourt oil complex as well. Also arranging funding for plants in Angola and Ivory Coast, Afreximbank's support could add around 1.3  mn  bpd of refining capacity.

"The programme will galvanise efforts towards making the Gulf of Guinea a key refining hub," Afreximbank President Benedict Oramah said in a statement on Monday.

According to Reuters, Afreximbank will also be a controlling shareholder of Atmin, a new trading house set up by former Shell oil traders to focus on African oil trading.

Recently, Iran has expressed keenness in exporting petrochemicals to AfricaIran has expressed keenness in exporting petrochemicals to Africa with an aim to strengthen strategic partnership between the two countries given the current shifts in global power dynamics.

Iran keen on exporting petrochemicals to Africa

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Iran is ready to export petrochemicals to Africa. (Image source; Adobe Stock)

The third Iran-Africa Economic Cooperation Conference was addressed by Iran’s First Vice President, Mohammadreza Aref, who expressed the country’s interests in advancing trade relations with Africa

He said that Iran is ready to export petrochemicals to Africa with an aim to strengthen strategic partnership between the two countries given the current shifts in global power dynamics.

Refering to its mineral and mining sectors as 'golden soils', Iran extended all kinds of technical support for Africa's industrial growth.

Aref also announced the country's intent for collaboration with Africa to advance clean energy and regional electricity networks. Technological cooperation and knowledge transfer in other fields were also discussed.

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