At the just-concluded African Energy Week 2025 in Cape Town, South Africa, Ken Etete, Group CEO of Century Group, shared insights on how innovative funding models can accelerate Africa’s energy transition while addressing critical investment gaps in the continent’s oil and gas sector.
Speaking in an exclusive interview, Etete emphasized the importance of predictable policies and regulatory clarity in attracting investments into Africa’s hydrocarbon industry. He noted that after years of uncertainty caused by delays in the passage of the Petroleum Industry Act (PIA) and misunderstandings around International Oil Companies’ (IOCs) divestments, the sector is beginning to experience renewed investor confidence.
“A good investment environment, predictability of investment, and clarity of policy are essential. Nigeria remains the gateway to energy capital inflows into Africa,” Etete said.
He described Century Group as an African-focused energy infrastructure company and one of the top ten FPSO providers globally, driving growth from Nigeria while expanding across the continent.
Etete explained that the company’s participation in the African Energy Week underscored its commitment to supporting Africa’s energy infrastructure development amid ongoing IOC divestments and balance-sheet consolidations by new investors.
Highlighting the continent’s growing infrastructure funding gap, Etete stressed that Africa must look inward by leveraging domestic capital such as pension and sovereign funds to finance energy projects.
“Why are we looking for money outside when we can aggregate a lot of funds within Africa? With the right governance, regulatory framework, and institutional support, we can channel these resources effectively,” he noted.
Citing data from the International Energy Agency (IEA), he pointed out that Africa would need to invest over $500 billion annually to close its infrastructure deficit and support the transition to cleaner energy.
Etete also welcomed the emergence of the African Energy Bank, a $5 billion initiative designed to finance energy projects across the continent, from oil and gas to renewables, pipelines, and other infrastructure.
“The Africa Energy Bank will be a game changer. It’s not just for oil companies; it’s for every player in the energy ecosystem. Aggregating African capital through this bank will bridge a critical financing gap,” he said.
Reflecting on the year, Etete described 2025 as a period of consolidation following major divestments by IOCs. The company, he said, is focusing on brownfield developments, existing oil assets that can be optimized and brought into production at lower costs.
“We see the brownfield space as the ‘cheap oil zone.’ Our focus is to bring these assets to market quickly by deploying cost-efficient infrastructure. That’s where the opportunity lies,” he explained.
Etete revealed that Century Group targets projects valued between $100 million and $200 million, which larger players often overlook. By aggregating and optimizing these smaller assets, the company aims to make them economically viable for both investors and host nations.
“Our model is simple, make smaller projects work efficiently, reduce production costs, and increase tax revenues for host countries,” he said.
Looking ahead to 2026, Etete projected that many of the group’s ongoing infrastructure investments will begin to crystallize, creating new growth momentum for Nigeria’s and Africa’s energy industries.
“Energy scarcity must become a thing of the past,” he concluded. “With collaboration, innovation, and the right funding mechanisms, Africa can power its future sustainably.”
