South Africa’s Department of Trade and Industry Moves to Empower Local Companies at Africa Oil Week Event

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South Africa’s Department of Trade and Industry (locally known as the dti) is set to showcase 15 to 20 local companies at the prestigious Africa Oil Week event, which will take place in Cape Town, from 4th to 8th November, 2019.

Africa Oil Week is the leading oil and gas event for the continent, with over 1,500 key executives attending from around the world to broker new deals.

As the leading event for Africa’s upstream oil and gas sector, the dti will be using Africa Oil Week as a platform to outline the department’s commitments to the energy sector and re-emphasize the need for sustainable and equitable growth for local businesses.

The businesses will also be exposed to senior executives from the oil and gas value chain across the globe, including 15 ministers of energy, key decision-makers from national and international oil companies, oilfield service providers, and the investment community.

The inclusion of the South African Pavilion is aligned with the country’s strategic goal of implementing an outward investment-led trade approach which aims to increase the country’s exporting capacity for diversified goods and services to international markets while promoting industrial development, job creation, foreign direct investment and economic growth to position South Africa as a globally competitive investment destination.

South Africa’s Minister for Trade and Industry, Dr. Rob Davies says the Sub-Saharan Africa region is rapidly transforming into a natural gas jurisdiction given major recent natural gas discoveries in the region and the significant potential domestically in South Africa.

“Whether or not South Africa discovers its own commercially viable natural gas resources, it will play a major role in driving onshore demand and the development of the regional resources,” Davies explained.

He added that in the light of the opportunities presented in the regional and domestic natural gas sector, the dti continues to refine its long-term natural gas industrialisation policy for South Africa, which would maximise the multiplier effects (both up and downstream) of the natural gas resources domestically and in the South East African region.

According to Davies, the exhibition comes as part of a wider focus on South Africa this year, with a full day programme dedicated to it within in the National Showcase Theatre on Tuesday, 5 November 2019. The South Africa Showcase will feature panels with industry experts.

Throughout the day, the showcase will feature strategic discussions around the future of the nation’s energy sector, exploring topics such as local content and procurement, fiscal policy and governance as well as highlighting new prospects and key projects currently taking place in South Africa.

Africa Oil Week’s organizers have stated that the showcase will be an excellent opportunity for South African companies looking to access Pan-African energy tenders or global debt and equity partners to expand their business.

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