Calvert International CEO NJ Ayuk opens major energy conference in Angola as headline keynote speaker, seeks business opportunities in Angola’s energy sectors
Frankfurt 18September, NJ Ayuk, CEO of Calvert International AG, has opened the Angola Oil & Gas (AOG) conference in Luanda, Angola on 13 September, together with the Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. In his opening remarks, Mr. Ayuk emphasized that in addition to promoting industrialization and economic growth, Angola was determined to lay the foundations for a gradual transition to renewable energy. "This transition should be equitable, sustainable and ensure that the country's population benefits optimally. This transition builds on a continued robust oil and gas sector. By maximizing revenues from its offshore oil reserves, Angola aims to generate significant funds to strengthen its economy and further invest in renewable energy," said Ayuk.
CIAG’s management met with a number of key stakeholders in the Angolan energy sector during the two-day conference in the countries capital, Luanda, to discuss investment opportunities for CIAG in Angola. They were in close contact with local and international companies in the sector, as well as with Azevedo's ministry. The latter in particular is very open to cooperation with German companies. Azevedo himself studied mining at the Technical University Bergakademie Freiberg, Germany, and is motivated by his personal ties to Germany to open up opportunities for German companies in particular to become active in the African country.
As one of Africa's largest economies, Angola has enormous potential in the energy sector. Located in the southwest of the continent, the country’s long coastline along the Atlantic Ocean puts it in an ideal position for energy opportunities such as hydrogen transportation. Up to 50% of the total GDP is currently generated by the oil industry. However, the Angolan government has plans to diversify the energy sector through the Angola Renewable Energy Programme (AREP) and to further develop solar and hydro power in the country. CIAG therefore sees great potential for its existing subsidiaries to expand in Angola in order to continue to grow successfully. In addition, the conference provided an opportunity to make further important contacts with local companies that could be of interest in expanding CIAG's portfolio.
++ About CIAG
Calvert International AG (CIAG), ISIN DE000A2YN5X9, is a Frankfurt-based investment holding company focused on the African energy sector. CIAG's shares are listed on the Düsseldorf Stock Exchange. CIAG currently operates as a management holding company for its subsidiaries Centurion Law Group in South Africa and Mauritius, primarily providing growth capital, management services and strategic advice to its subsidiaries. Centurion Law Group provides comprehensive professional services, in particular legal advice in all African jurisdictions around market entry and pan-African expansion strategies for private and public companies, with a focus on the African energy sector.
++ About AOG
The Angola Oil & Gas (AOG) Conference & Exhibition was taken place 13-14 September 2023 in Luanda for its fourth edition. Under the auspices of the Minister of Mineral Resources, Oil and Gas, H.E. Diamantino Pedro Azevedo, and in partnership with the National Oil, Gas and Biofuels Agency, AIDAC and the African Energy Chamber, around 2000 delegates from 44 countries discussed during the event the future and potential of the Angolan energy sector.
Contact for investor relations and press enquiries:
Calvert International AG
Ms. Jessica Stang, Investor Relations
Opernplatz 14, 60313 Frankfurt am Main, Germany
T: +49 69 1532944 42
End of Media Release
Issuer: Calvert International AG
Key word(s): Energy
18.09.2023 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG.
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1728345 18.09.2023 CET/CEST