Premier Invest Reveals Plans to Set up a Bank to Support Africa’s Indigenous Companies During IEA Forum in Paris

Financial firm Premier Invest has revealed plans to establish a bank aimed at assisting local firms in accessing capital. The bank will be located in the Middle East and launched in 2026, Marcel Awasum, Head of Business Development, Premier Invest, said at the Invest in African Energy (IAE) Forum 2025 in Paris.

“Enabling indigenous companies is key; it’s the future,” he said during a panel session entitled Scaling Private Investment: The Role of Indigenous Companies in Driving M&A Activity, highlighting the necessity of enabling indigenous companies through affordable capital and robust governance structures.

Awasum explored the transformative role of local operators in Africa’s energy sector, emphasizing the role of Development Finance Institutions like the African Development Bank (AfDB) in creating sustainable financing structures.

As international oil companies divest mature assets, indigenous firms are stepping in to acquire these opportunities, reshaping the continent’s energy landscape. Jean-Paul Sabbagh, Finance Director, Imperatus Energy, emphasized the strategic advantage for indigenous companies in this evolving scenario. “When international companies divest assets, indigenous companies can acquire those assets, expand their geographic footprint, and extend their market share,” he stated. “Partnerships bring capability and reach which is strategic for growth,” he added.

Joszef Morton, Director at Preng & Associates, expanded on Sabbagh’s comments, “The field experience is important; most assets are brownfield assets,” he noted. Drawing on his experience in C-level executive recruitment, Morton stressed the need for indigenous firms to attract top-tier talent by offering unique value propositions.” They don’t have to compete with the majors; they can create something new and different, especially in Africa,” he said.

The panelists collectively underscored the critical role of indigenous companies in Africa’s energy sector transformation. With support from financial institutions and strategic partnerships, these firms are well-positioned to drive sustainable growth and energy security across the continent.

Sabbagh concluded, “Many international companies are divesting mature assets because of net zero objectives, so it’s the time for indigenous companies to seize the opportunity. Big firms always need indigenous companies.”