{"id":42358,"date":"2023-04-02T19:09:42","date_gmt":"2023-04-02T19:09:42","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment"},"modified":"2023-04-02T19:39:27","modified_gmt":"2023-04-02T19:39:27","slug":"mitigating-perceived-risk-in-african-energy-investment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment","title":{"rendered":"Mitigating Perceived Risk in African Energy Investment"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>A high-level panel comprising African public and private sector energy leaders discussed strategies for mitigating project development risk during the African Energy Chamber\u2019s Invest in African Energy reception in Dubai on Thursday, which aimed to connect international financiers with African energy projects.<\/p>\n

Africa is widely recognized as an attractive investment destination due to abundant natural resources, an above-average drilling success rate, a rapidly expanding domestic market, growing purchasing power and associated needs for power, technology, innovation and industrialization. However, the continent continues to experience a high degree of perceived risk.<\/p>\n

Under the theme, \u201cAfrica\u2019s Advantage: Countering the Myth of Africa-Specific Risk,\u201d the panel comprised Egbert Faibille Jr., CEO of Ghana\u2019s Petroleum Commission and Elison Karuhanga, Partner of Uganda\u2019s Kampala Associated Advocates, and was moderated by Amena Bakr, Chief OPEC Correspondent and Dubai Deputy Bureau Chief for Energy Intelligence.<\/p>\n

With COVID-19, crude oil price volatility and the energy transition triggering reduced investor appetite, heightened transparency has become critical to sustaining foreign direct investment flows and mitigating perceived risk. Recent efforts by several African countries to join the Extractive Industries Transparency Initiative (EITI) \u2013 a global standard for the responsible governance of oil, gas and mineral resources \u2013 have demonstrated a continent-wide desire to improve transparency.<\/p>\n

\u201cInvestors need to understand that our projects are safe and responsible,\u201d said Elison Karuhanga, speaking on the ongoing development of the East African Crude Oil Pipeline Project. \u201cThere is a lot of misinformation about the pipeline. It is part of a larger upstream project that will be producing around 250,000 barrels per day. The Uganda oil and gas project is expected to produce 13 kilograms of carbon dioxide for every barrel of oil, which is quite competitive globally. The African average is around 30 kilograms per barrel, so it will be one of the lowest carbon-emitting projects. It will be extremely transformational.\u201d<\/p>\n

\u201cAfrica\u2019s story has not been told. Instead, it has always been told by people who are not from Africa,\u201d echoed Egbert Faibille Jr. \u201cDue process is followed.\u201d<\/p>\n

Another means of countering perceived risk is the establishment of public-private partnerships, whereby private sector companies and financiers can better acquire local knowledge and foster relationships on the ground to mitigate unknown, above-ground variables. Geopolitical stability, regulatory and fiscal certainty and government transparency play a weighted role in a country\u2019s ability to attract private capital, particularly in the oil and gas industry, which often requires some degree of partnership or production sharing with the host government.<\/p>\n

\u201cWe have several blocks open for direct negotiation and three available for farm-in opportunities,\u201d noted Egbert Faibille Jr., speaking on opportunities for upstream investors to enter Ghana. \u201cWe have some fields that are in pre-development, so if we are able to get contractors, we should see a surge in production by 2030.\u201d<\/p>\n

Because of their scale, midstream, downstream and integrated projects often require a combination of financing, ranging from international and local commercial banks to export credit agencies to development finance institutions. Strengthening existing commercial relationships with international lending institutions would significantly enhance a project\u2019s ability to raise sufficient funds with more favorable terms and conditions. Increasing the capacity of local financial sectors would also help offset the impact of perceived project development risks by lending local regulatory expertise, along with local currency financing solutions for offtake agreements.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. A high-level panel comprising African public and private sector energy leaders discussed strategies for mitigating project development risk during the African Energy Chamber\u2019s Invest in African Energy reception in Dubai on Thursday, which aimed to connect international financiers with African energy projects. Africa is widely recognized as an attractive investment destination due […]<\/p>\n","protected":false},"author":84,"featured_media":42357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-42358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nMitigating Perceived Risk in African Energy Investment - Namibia<\/title>\n<meta name=\"description\" content=\"A high-level panel comprising African public and private sector energy leaders discussed strategies for mitigating proje ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mitigating Perceived Risk in African Energy Investment\" \/>\n<meta property=\"og:description\" content=\"A high-level panel comprising African public and private sector energy leaders discussed strategies for mitigating proje ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-02T19:09:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-02T19:39:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1680446698.84.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mitigating Perceived Risk in African Energy Investment\",\"datePublished\":\"2023-04-02T19:09:42+00:00\",\"dateModified\":\"2023-04-02T19:39:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\"},\"wordCount\":567,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1680446698.84.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mitigating-perceived-risk-in-african-energy-investment\",\"name\":\"Mitigating Perceived Risk in African Energy Investment - 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