Godfrey Moagi, CEO of the South African National Petroleum Company (SANPC), has been appointed Chairman of the African Petroleum Producers’ Organization (APPO) National Oil Companies (NOCs) CEOs Forum, succeeding Kwame Ntow Amoah of the Ghana National Petroleum Corporation.
The appointment was announced on Monday during the 8th Annual APPO NOCs CEOs Forum, held on the margins of African Energy Week (AEW) in Cape Town.
THREE PRIORITIES FOR HIS TENURE
In his acceptance address, Moagi outlined three priorities for his tenure:
First, building refineries. Moagi cautioned that Africa cannot build refineries in every country without credible, viable markets. He highlighted the vulnerability created by the Strait of Hormuz: “A third of Africa’s energy demand is routed through the Strait of Hormuz, a vulnerability we must urgently fix”.
Second, fast-tracking the establishment of the Africa Energy Bank. “We must ensure the energy bank becomes operational. This depends on all of us. When Western financiers say they will not fund us, this bank will help us finance projects that are otherwise difficult to fund”.
Third, increasing cooperation on technical skills development across the energy value chain. “We must look beyond borders for solutions to our challenges. My three priorities will be anchored on our people. We must collaborate to develop the technical capacity Africa needs. I intend to chair this forum as a convener for all of Africa, not to represent South Africa’s interests. I am African first, South African second”.
CAPE TOWN DECLARATION SIGNED
During the forum, African NOCs signed the Cape Town Declaration, a non-binding agreement committing to enhanced commercial cooperation, expanded refining capacity, and coordinated energy development to advance Africa’s energy security, regional integration and infrastructure investment.
The declaration includes commitments to:
- Strengthen continental energy security through direct commercial agreements among African NOCs
- Deepen domestic refining capacity to reduce reliance on imported petroleum products
- Welcome the operationalisation of the Africa Energy Bank as a financing tool for large-scale energy projects
- Support digital platforms, skills development and local content
- Confirm the 9th APPO NOCs CEOs Forum for 2027
Moagi described the declaration as “very encouraging,” saying it “demonstrates the urgency of our collective determination to improve the socio-economic development of our respective nations”.
AFRICA ENERGY BANK: FILLING THE FINANCING GAP
The Africa Energy Bank, jointly established by APPO and the African Export-Import Bank (Afreximbank), has an initial capital target of $5 billion. It is designed to fill the financing vacuum left by Western institutions that have withdrawn from African oil and gas projects.
APPO Secretary-General Farid Ghezali emphasised that African NOCs “are no longer just oil companies; they are platforms for national energy security and economic sovereignty.”
He called on NOCs to “move beyond rhetoric and focus on strategic collaboration, accelerating upstream project delivery and local value creation,” adding: “Africa does not need an architecture of good intentions. It needs an architecture of delivery”.