Launch of Afentra offers new opportunities for the energy transition in Africa
AIM-listed Afentra, the upstream operator focused on opportunities in Africa, has been launched with a clear mandate to look at opportunities to invest in the energy transition in Africa. Spearheaded by CEO Paul McDade, the foundations have been laid with the development of a comprehensive corporate strategy and appointment of team members including a new CFO that can deliver against this new vision.
African Energy Transition (Afentra)
The name Afentra, which stands for African Energy Transition, reflects the Company’s strategic imperative of capitalising on opportunities resulting from the accelerating energy transition on the African continent. Afentra has been established to support sustainable change in the African energy industry, in a sector that needs further responsible, well managed, independent operators.
The global energy transition is being driven by political, corporate and civil society in pursuit of the goals set by the international community to decarbonise. The energy industry is seeing Oil and Gas majors recalibrate their strategies and business models to a lower carbon energy portfolio. A significant divestment cycle of legacy assets is expected in Africa similar to the industry transition that occurred in both the Gulf of Mexico and the North Sea generating a compelling market dynamic for agile and innovative consolidators.
As the global energy transition progresses, hydrocarbons will continue to play a critical role in future energy and economic systems. Responsible supplies of oil and gas will be a necessary part of a transition to a lower carbon world. Natural resources are central to the economic and social development of the continent and will require continued access to capital. To access capital markets, Afentra will need to address stakeholders’ ESG focus as a central part of its business risk and opportunity management.
Click on the link below for full report