The private sector has a role to play when it comes to studying the needs of the country. We have been using the same methods of infrastructure development that haven’t served us well enough for decades because there just wasn’t enough research done. Our role is to, therefore, bring forth a new way of doing things that will usher progressive development. We must devise ways of attracting investors and convincing financiers to provide the needed capital. When we started all those years ago, attracting investors to Madagascar was very difficult. Today, it is not as difficult as it was because we have made some progress in our development. People out there are realising that Africa has a lot to offer despite the risks, and our message is being embraced.
We need comprehensive studies done so that we can have a clear picture of what is needed and how that must be addressed. Our job at Filatex is to help the government by letting them know what needs to be done while bringing in some international companies to help. The cost of production has to be factored in as well as the reliability and applicability of the solutions.
Many oil and gas projects in Africa have experienced force majeure or delays across the upstream and midstream sectors on account of the COVID-19 pandemic. The pandemic has also sped up the transition to renewable energy as oil majors and legacy energy companies increasingly set targets and explore money-backed strategies to reduce hydrocarbons by 2030.
Despite this, oil and gas exploration and development will remain critical for decades to come in order to meet demand.
Harlequin Group, an indigenous fabrication, general engineering and hydraulic company based in Ghana believes there is much scope for international partnerships to harness the region’s oil, gas and mining industries for inclusive growth.
In the mid to long term, we are looking to be an international player in the oil and gas sector. We are ready to go for any opportunities we identify in other African countries. The ratification of the Africa Continental Free Trade Area agreement will help us scale the business to other countries in the region and beyond. Our success will heavily hinge on the way the AfCFTA agreement is enforced and managed. Signing a historic deal like that is big, but it will be useless if there will be a lot of red tape and efficiency problems.
Our international exploits will not just be limited to the African continent. As we speak, we are looking to take advantage of the oil finds in Guyana. We are deeply engaged with the Guyanese government and are involved in the tendering process. Our foray into Guyana shows that we are not afraid to venture out and grow. If the AfCFTA agreement is executed well, we will be able to venture far and wide all over the continent of Africa. We have made contact with oil and gas players in Egypt and even in Nigeria, so our Africa agenda is well on course.
WSU postdoctoral researcher Dr Frank Unuoufin touched down in East London with his head held high following a successful showing at the second Innovation Bridge Showcase and Matchmaking Event held in Johannesburg recently.
The exhibition, held at Gallagher Estate on 15 September, saw over 100 innovators from different sectors, including tertiary institutions, hubs, institutes, business, government and investors, congregate under one roof to deliberate and share ideas about their latest technological and innovative developments.