The African Association of Energy Journalists and Publishers, AJERAP, has listed four countries—Nigeria, Gambia, Namibia, and Senegal—as top energy investment destinations to watch in the second half (July–December) of 2024.
In its latest report, African Energy Outlook Second Half of 2024, AJERAP noted that with increased activities, especially oil and gas, the four nations have become very strategic for investors interested in investing in the continent.
The report noted that “Namibia is another space to watch in the second half of 2024 for at least a reason. The country has already made its major offshore finds by TotalEnergies and Shell (SHELL). James Parr, vice president for new venture exploration and development at Woodside Energy, has remarked that “it is one of the newest and most attractive areas being explored by the industry, and we are very excited by the discoveries so far.
“Besides oil and gas, Namibia has other natural endowments, including wind and solar energy resources for green hydrogen investors. There are also substantial deposits of minerals. The proximity of Namibia to South Africa also grants investors easy access to maritime transport infrastructure for export and import of goods.”