{"id":102652,"date":"2025-11-10T05:33:00","date_gmt":"2025-11-10T05:33:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=102652"},"modified":"2025-11-10T05:33:00","modified_gmt":"2025-11-10T05:33:00","slug":"kadijah-amoah-urges-africa-to-tap-250bn-pension-assets-for-oil-and-gas-growth","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=102652","title":{"rendered":"Kadijah Amoah urges Africa to tap $250bn pension assets for oil and gas growth"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 55 Second <\/div>\n\n <\/div>
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At a time when global appetite for oil investments is shrinking under the weight of the energy transition, Kadijah Amoah, CEO of Pecan Energies Ghana, has issued a bold call for African nations to turn inward and leverage the continent\u2019s own wealth to fund the future of its oil and gas sector.<\/p>\n

Speaking at the Africa Oil Week 2025 <\/em>in Accra, during a forum titled Shaping Africa\u2019s Upstream Future, from an Independent\u2019s Perspective<\/em>, Mrs Amoah urged policymakers and industry leaders to mobilise part of Africa\u2019s vast pension funds, estimated at $250 billion, to finance oil and gas projects before the window of opportunity closes.<\/p>\n

\u201cWTO\u2019s Director General, Ngozi Okonjo-Iweala, recently said African pension funds have about $250 billion combined. That\u2019s significant. Given that oil and gas are time-bound, it is important to consider dedicating 10 per cent of pension funds in Africa to ensuring that we get the oil out of the ground. That will be a game changer for Africa\u2019s international oil companies to take projects to the next level,\u201d Mrs Amoah said.<\/p>\n

Her message was clear: with international oil majors scaling back exploration in emerging markets, African producers must become \u201cintentional and deliberate\u201d about funding their own future.<\/p>\n

A Homegrown Financing Solution<\/strong><\/strong><\/p>\n

Amoah argued that Africa cannot rely on international capital markets alone, as ESG pressures and climate commitments increasingly constrain funding for hydrocarbons. Instead, she highlighted the role of regional financial institutions such as the Africa Finance Corporation (AFC) \u2014 which owns Pecan Energies \u2014 and the newly established Africa Energy Bank, describing them as critical vehicles for sustaining upstream development.<\/p>\n

\u201cAfrica needs homegrown solutions to its financing gap,\u201d she said. \u201cMobilising pension funds, supported by African development finance institutions, will ensure that our independents have the capital they need to survive and thrive.\u201d<\/p>\n

Pecan Project as a Test Case<\/strong><\/strong><\/p>\n

Pecan Energies, which operates the Deepwater Tano\/Cape Three Points Block offshore Ghana, epitomises the opportunities and challenges Amoah referenced. <\/p>\n

The field holds estimated recoverable reserves of between 300 and 450 million barrels, with potential upside of up to 1 billion barrels.<\/p>\n

According to Rystad Energy, the project remains profitable at oil prices above $30 per barrel, underlining its resilience in volatile markets. <\/p>\n

Ghanaian officials had expected first oil by 2026, ramping up to around 80,000 barrels per day. <\/p>\n

This would push Ghana\u2019s overall production beyond 200,000 barrels per day, cementing the country\u2019s role as a rising energy hub in West Africa.<\/p>\n

The project\u2019s partners include Lukoil (38%), Ghana National Petroleum Corporation (GNPC, 10%), and FuelTrade (2%), with growing speculation that oil supermajor Shell could acquire a stake, a move Ghanaian President John Mahama recently described as a major vote of confidence in Ghana\u2019s energy future.<\/p>\n

The Bigger Picture<\/strong><\/strong><\/p>\n

Amoah\u2019s intervention comes at a pivotal moment. While global investors are retreating from fossil fuel projects, Africa\u2019s demographics and development needs demand reliable energy. Oil and gas revenues remain critical for infrastructure, education, and healthcare.<\/p>\n

For Amoah, the message is urgent: the continent must act now, before global momentum shifts decisively away from hydrocarbons. <\/p>\n

Unlocking even 10 per cent of Africa\u2019s pension funds could provide a catalytic pool of $25 billion \u2014 enough to de-risk projects, attract co-investments, and drive new upstream developments across the continent.<\/p>\n

\u201cOil and gas are time-bound,\u201d she warned. \u201cIf we don\u2019t get the resources out now with our own funding, the opportunity may pass us by.\u201d<\/p>\n<\/div>\n

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