By creating a stable, transparent and attractive operating environment, governments can give investors the confidence to invest.
Speakers on the next panel include Rashid Ali Abdallah, Executive Director of the African Energy Commission; Saad Sherida Al-Kaebi, Vice President, President and Managing Director of QatarEnergy; Zakaria Dosso, General Director of AEICORP; Tony Elumelu, President of the United Bank for Africa; Mohamed El Kettani, President and CEO of Attijariwafa Bank; Olivier Fleurentin, Head of the Oil & Gas sector at Standard Bank Group Ltd; Jonathan Ross, Head of Oil & Gas Coverage at Rand Merchant Bank; Abebe Aemro Selassie, Director of the African Department of the International Monetary Fund; and Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization.
Regarding the effective incentives deployed, the creation of Special Economic Zones (SEZs) has become a key tool to promote trade, investment and economic growth in the region. The flagship Sandiara SEZ in Senegal has already attracted more than 15 companies, leading to an increase in the country’s exports. Meanwhile, the highly anticipated Nouakchott Port Hub, the first of its kind in Mauritania, will be almost entirely dedicated to growing the energy sector.
In addition to facilitating private sector investment, countries in the MSGBC region have used various tools to finance their respective energy and infrastructure ambitions. For example, the International Finance Corporation intends to expand its investment footprint in Senegal, following a total contribution of $987 million to projects in the manufacturing, agribusiness, services, infrastructure and banking. In Mauritania, the African Development Bank has committed to mobilizing funds for a $900 million multinational electricity transmission line between the country and neighboring Mali, connecting 620,000 people to electricity.
In the ever-changing energy landscape, panelists will explore the future of energy in West Africa, forecasting trends and exploring challenges and opportunities related to the energy transition. While countries like Guinea-Conakry and Senegal are already harnessing their renewable energy potential with large-scale hydroelectric and solar projects underway, other MSGBC countries are still seeking sources of financing to fuel their energy development. ‘clean energy. Senegal, for example, has granted a preferential tax regime to companies investing in its renewable energy projects, demonstrating the role that tax incentives can play in attracting foreign investor interest.
MSGBC Oil, Gas & Power 2023 provides a platform for industry experts, government officials and investors to engage in discussions that will shape the future of energy in Africa. The results of these sessions are expected to contribute significantly to the economic growth, sustainability and energy security of the region.
Stay tuned for updates from these sessions, as we explore the untapped energy potential of the MSGBC Basin countries. For media inquiries and further information, please contact Anne-Laure Klein at anne@energycapitalpower.com.
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Energy Capital & Power is dedicated to promoting energy cooperation and economic development in Africa. We work closely with governments, industry and international partners to promote sustainable energy solutions and economic growth.
