Producers’ fund seeks to turbocharge

The African Petroleum Producers Organisation (APPO) is looking to reinvigorate its Cotonou-based APPO Fund, which has been renamed the Africa Energy Investment Corporation (AEICorp). Managing director Zakaria Dosso told African Energy AEICorp was looking to raise hundreds of millions of dollars to support under-pressure producers. The group’s model is the Saudi Arabia’s Arab Petroleum Investments Corporation which reported lending of $3.5bn as at 31 December 2018.