Co-op Bank Crowned Best Retail Bank in Kenya

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Co-op Bank Crowned Best Retail Bank in Kenya

Special Correspondent - May 11, 2018

Co-operative Bank of Kenya was recognized as the best retail bank in Kenya at the fourth edition of the Banker Africa- East African...

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An opening fireside chat held during the opening ceremony of the African Energy Week (AEW): Invest in African Energies 2025 conference showcased the value of an Africa-first approach when it comes to the continent’s gas developments. Ministers from Senegal and Ghana discussed how recently-launched projects stand to drive sustainable growth in West Africa, with project developer Kosmos Energy committing to focus on domestic gas opportunities. The opening ceremony was sponsored by Kosmos Energy. In recent years, West Africa has established itself as one of the continent’s most dynamic energy markets. In 2024, Senegal became a global oil and gas producer through the commissioning of the Sangomar oil and gas field and the Greater Tortue Ahmeyim (GTA) developments. The GTA project, developed through a partnership led by BP and Kosmos Energy, boasts an initial capacity of 2.3 million tons per annum (mtpa) in the first phase, with a second phase set to increase output to 5 mtpa. While the project primarily targets exports, its partners are exploring opportunities for the domestic market. Birame Soulèye Diop, Senegal’s Minister of Energy, Petroleum and Mines, stated that, “In Senegal, we have a goal to reach universal access to energy by 2029. Today, we are a country that exports oil and gas. But the cost to access fuel is still high. We would like to produce more for the country so that we can access resources for electricity. With gas, there are a lot of opportunities.” Minister Diop elaborated on the country’s plans to convert operational oil refineries to process gas, aiming to reduce fuel costs and expand access across the country. Kosmos Energy has also shifted its focus towards the domestic market. In addition to GTA, the company is advancing the development of the Yakaar-Teranga project. Targeting a final investment decision in 2025, the project will supply gas for the domestic market, specifically power generation facilities. “Fundamental to the development of Senegal is the use of gas for domestic purposes. That is our next agenda: to work with the ministry to expand the scheme to deliver domestic gas,” said Andrew Inglis, CEO, Kosmos Energy. Regional neighbors serve as a strong example for the role that gas plays in delivering low-cost energy. Ghana, for example, has been highly effective in monetizing gas. John Abdulai Jinapor, Minister of Energy & Green Transition, Ghana, explained that “Gas is an essential commodity. We have a gas-to-power policy, with gas accounting for 90% of our fuel in Ghana. What we have achieved so far can serve as a model for other economies so that African can achieve energy security through gas.” Active in both Senegal and Ghana, Kosmos Energy plays an instrumental part in driving oil and gas projects. Inglis emphasized that aligned national policies and strong public-private partnerships have been fundamental in successfully delivering projects in both countries. He said: “An aligned national agenda is the bed-rock of investment. If you are aligned on intent, then delivery is a lot easier. With both Senegal and Ghana, there is clarity in terms of what the countries need and Kosmos Energy is ready to support that.”

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SanlamAllianz Kenya Group CEO Dr Nyamemba Patrick Tumbo said the name change aligns the local business with the broader continental strategy. He noted that the life and general insurance subsidiaries will continue to be led by Jacqueline Karasha and George Kuria. “The rebrand heralds a new dawn for us as SanlamAllianz, enhancing our corporate commitment to advance our market effectiveness in the provision of quality, client-focused life and general insurance products,” he said, adding that the firm will tap into the wider SanlamAllianz resources and technical know-how to deliver exceptional services and solutions. SanlamAllianz CEO Heinie Werth said the group aims to rank among the top three insurers in all its markets and will support the Kenyan unit in pursuing this goal.

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Co-op Bank Crowned Best Retail Bank in Kenya

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