At the Africa Oil Week 2025 in Accra, Kadijah Amoah, CEO of Pecan Energies Ghana, emphasized the need for African nations to utilize their $250 billion pension assets to boost the oil and gas sector. She urged policymakers and industry leaders to allocate 10% of these funds to finance critical projects, especially as international investments in oil decline due to the energy transition.
Amoah highlighted that with global oil majors scaling back in emerging markets, it’s essential for African producers to be proactive in funding their own energy future. She pointed out that relying solely on international capital markets is no longer viable, given increasing ESG pressures. Instead, she advocated for regional financial institutions, like the Africa Finance Corporation and the new Africa Energy Bank, to play a pivotal role in addressing financing gaps.
Her company, Pecan Energies, is currently involved in the Deepwater Tano/Cape Three Points Block offshore Ghana, which has significant recoverable reserves. The project is expected to push Ghana’s overall production beyond 200,000 barrels per day, establishing it as a key energy hub in West Africa.
Amoah warned that the window for tapping oil and gas resources is closing, and if Africa does not act swiftly to mobilize its pension funds, it risks losing the opportunity to develop its hydrocarbon potential. Unlocking just 10% of these funds could create a $25 billion pool to support new projects, underscoring the urgency of her call to action.