Getting the Africa Energy Bank working a priority for SANPC’s Moagi as he takes on new role
South African National Petroleum Company (SANPC) CEO Godfrey Moagi has been appointed as the chairperson of the African Petroleum Producers’ Organisation (APPO) national oil companies (NOCs) CEOs Forum.
Moagi officially took over the chairmanship from Ghana National Petroleum Corporation CEO Kwame Ntow Amoah.
In his acceptance address, Moagi highlighted three priorities for his tenure.
“As I take on this role, we must talk about building refineries. We cannot afford to have refineries in every single country without also building credible, viable markets.
“We must learn from what happened in the Strait of Hormuz,” he added.
“A third of our energy demand is routed through there, leaving us vulnerable. That is a vulnerability we must urgently fix.”
The second priority for Moagi was fast-tracking the establishment of the Africa Energy Bank (AEB), which should ensure the availability of financing for strategic energy infrastructure projects on the continent.
The AEB’s mission is to facilitate, promote and finance the development of Africa’s oil, gas and energy industries.
“We want to make sure the energy bank works, and that is going to depend on the people in this room,” said Moagi.
“The bank will help us fund the very projects we are struggling to finance when Western funders say they won’t fund us.”
The third priority was increasing cooperation among African NOCs to develop the technical skills and workforce required to maximise the region’s energy value chain.
“When confronting challenges, we must look across our borders for solutions,” said Moagi.
“My three priorities will be underpinned by our people, and we must collaborate to develop the technical skills we need right here on the continent.”
“I intend to chair this forum as a convener for all of Africa, not as a representative for South African interests,” added the SANPC boss. “I am an African before I am a South African.”
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