MSGBC Oil, Gas&Power 2023 (https://apo-opa.info/3MsnA6A) is set to host two days of discussions on November 21-22 in Nouakchott, including a highly anticipated session on the role of finance and government in scaling investment opportunities in Africa’s new energy frontier.
The panel will explore the role of government policies and incentives in creating a conducive framework for foreign investment, which has become a key criteria for countries such as The Gambia, Guinea-Bissau and Guinea-Conakry that are seeking to attract FDI to their emerging energy markets. By creating a stable, transparent and attractive operating environment, governments can provide investors with the vote of confidence needed to invest.
Speakers on the upcoming panel include Rashid Ali Abdallah, Executive Director of the African Energy Commission; Saad Sherida Al-Kaebi, Deputy Chairman, President and CEO of QatarEnergy; Zakaria Dosso, Managing Director at AEICORP; Tony Elumelu, President of the United Bank for Africa; Mohamed El Kettani, Chairman and CEO of Attijariwafa Bank; Olivier Fleurentin, Head of Oil&Gas at Standard Bank Group Ltd; Jonathan Ross, Head of Oil and Gas Coverage at Rand Merchant Bank; Abebe Aemro Selassie, African Department Director at the International Monetary Fund; and Dr. Ngozi Okonjo-Iweala, Director General at the World Trade Organization.
In terms of effective incentives being deployed, the establishment of Special Economic Zones (SEZ) has become one key tool to promote trade, investment, and economic growth within the region. Senegal’s flagship Sandiara SEZ has already attracted more than 15 companies, leading to increased exports from the country. Meanwhile, the highly anticipated Nouakchott Port Hub SEZ, the first of its kind in Mauritania, will be almost entirely dedicated to supporting energy sector growth.
In addition to facilitating private sector investment, MSGBC countries have been leveraging a range of tools to finance their respective energy and infrastructure ambitions. For example, the International Finance Corporation intends to expand its investment footprint in Senegal, following $987 million in total contributions to projects within the manufacturing, agro-business, services, infrastructure and banking sectors. In Mauritania, the African Development Bank has committed to mobilizing funds for a $900 million multinational power transmission line between the country and neighboring Mali, connecting 620,000 people to electricity.
In the ever-evolving energy landscape, panelists will explore the future of energy in West Africa, forecasting trends and exploring the challenges and opportunities associated with the energy transition. While countries like Guinea-Conakry and Senegal are already harnessing their renewable energy potential with large-scale hydropower and solar projects underway, other MSGBC countries are still seeking sources of funding to fuel their clean energy development. Senegal, for its part, has granted a preferential tax regime for companies investing in its renewable energy projects, demonstrating the role that fiscal incentives can play in attracting the interest of foreign investors.
MSGBC Oil, Gas&Power 2023 offers a platform for industry experts, government officials and investors to engage in discussions that will shape the future of African energy. The outcomes of these sessions are expected to contribute significantly to the region’s economic growth, sustainability and energy security.
Stay tuned for updates on these sessions, as we explore the untapped energy potential of the MSGBC Basin countries.
Distributed by APO Group on behalf of Energy Capital&Power.
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