Energy conference organizing giant Africa Oil and Power will conclude its Africa Energy and Mining (AEM) Conference today in Cape Town.
Distinct from the Powering Africa Summit held in Washington D.C earlier this month, the investment conference constitutes the only mining and energy investment conference to date on the African continent. It gathered public and private sector executives for networking and deal-making purposes to streamline growth for petroleum, mining, power, and renewable industries.
As the event was hosted in partnership with South Africa-China Economy and Trade Association—as well as Russia’s AFROCOM—expect major bids from both Chinese and Russian energy markets. Amidst the current oil crisis in Russia spurred by the war in Ukraine—as well as the influence of the Chinese Belt and Road Initiative—Moscow and Beijing will try to buy influence in small, resource-rich countries on the continent.
In the medium- to long-term, foreign investment will play a vital role in supporting economic growth and eliminating poverty in Africa for future generations. AEM provides opportunities for foreign investors to initiate long-term, sustainable project developments that will contribute to economic benefits such as job creation and industrialization. Hence, expect more events like AEM bolstering investment in the African energy sector.
Keely is an Analyst with regional expertise in Sub-Saharan Africa. A weekly contributor to the Daily Brief, she specializes in conflict dynamics and geopolitics in West and Central Africa.