CEMAC - Afrikan Heroes

Petroleum and Mining Firms Authorised to Open Foreign Currency Escrow Accounts by Regional Central Bank

July 13, 2020

The Bank of Central African States has authorized petroleum and mining companies to operate foreign currency escrow accounts in an effort analysts have commended as a great initiative that will preserve jobs, encourage local content and help the oil & gas sector recover. The decision was made known by the Bank while making public the outcomes of its Ordinary Meeting held early this month. The authorization was given within the implementation framework of key dispositions of regulation pertaining to foreign currency exchanges within the CEMAC region.

Leoncio Amada NZE, President for the CEMAC

The African Energy Chamber wishes to salute such pragmatism and notes the BEAC’s willingness to offer the best enabling environment for the oil & gas industry in the wake of the ongoing crisis. Earlier this year, the Chamber had joined several industry stakeholders in calling on the BEAC to relax its currency controls rules adopted in June 2019.

“We applaud the BEAC for listening to the private sector concerns and for adopting a pragmatic approach to foreign currency regulations in the wake of the ongoing crisis caused by the Covid-19 pandemic and the historic crash in oil prices. Such a move falls in line with the African Energy Chamber’s commonsense agenda to help Africa recover from the Covid 19 pandemic,” declared Leoncio Amada NZE, President for the CEMAC region at the African Energy Chamber. “This is good for our local industry and for staying competitive. The measure will be a significant boost to local content development, and ultimately local jobs creation across Central Africa,” he concluded.

In its latest Commonsense Energy Agenda, the African Energy Chamber notably called on financial institutions and central banks to set up stronger dialogue mechanisms with the private sector and industry stakeholders to address current industry challenges. The Chamber notes the leadership of the BEAC in taking initiatives that will preserve jobs, encourage local content and help the oil & gas sector recover.

The Central African Economic and Monetary Community (CEMAC) is made up of six states: Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial Guinea.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Leoncio Nze Appointed as CEMAC Regional Lobbyist for African Energy Chamber

April 8, 2020

The African Energy Chamber has appointed the Founder & CEO of APEX Industries, Leoncio Amada Nze as its Executive-President for the Central African Economic and Monetary Community (CEMAC) which comprises Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial Guinea. Leoncio is based in Malabo where he will act on behalf of the Chamber across all public and private sector energy initiatives in the region.

Leoncio’s appointment comes at a strategic time when African oil markets need leadership and unity to preserve the continuity of oil & gas operations across the industry as oil prices crash and economies suffer from lockdowns. It also represents the next phase of growth of the African Energy Chamber in the CEMAC region, where it has already been active for several years. The CEMAC region is a well-established petroleum province in Africa and one of the biggest producing region of oil and gas on the continent. The region has been at the core of several pan-African energy cooperation efforts over the past few years, especially in the area of gas monetization, and its local services industry has been growing steadily on the back on solid but pragmatic local content regulations. CEMAC countries are currently focusing on gas monetisation efforts to power industries and create jobs, which are key priorities shared by the Chamber and its partners.

In his role, Leoncio will be contributing to key development priorities for the Chamber, especially developing local content and building domestic capacity, gas monetisation, empowering energy investors, and advocating for policy reforms. Furthermore, Leoncio will support initiatives that ease doing business in the region, and promote investments in oil & gas and key segments of the energy industry. He joins the Chamber after a successful career in the public sector as former General Director of State Entities at the Ministry of Mines and Hydrocarbons, and more recently as founder and CEO of private services company APEX Industries.

“Leoncio brings the perfect balance of public and private sector with a strong track record of working collaboratively to resolve industry issues” declared NJ Ayuk, Executive Chairman at the African Energy Chamber. “He understands what it takes to build a private company from the bottom up in our industry, and knows how to engage with government authorities so the interests of the industry are heard. He will be key in the Chamber’s efforts to spearhead a productive public-private dialogue in our industry, and to further promote capacity building and investment around Africa,” he added.

“This appointment is an honour for me and I look forward to working with the most influential energy industry organization in Africa that represents all facets of the oil and gas and renewables industries,” Leoncio Amada Nze said. “What is exciting at this moment are the initiatives and reforms that will make our industry stronger and more resilient that ever. It is time for the local and international private sector in the region to come together and advocate for the future of our industry,” he added.

Kelechi Deca