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Forvis Mazars Strengthens Financial, Advisory Support in African Energy, Joins AEW 2024 as Bronze Sponsor
In an effort to expand its presence in Africa, international audit, tax and advisory firm Forvis Mazars - a new $5 billion global professional network formed by financial advisory firms Mazars and Forvis - recently marked its official launch in Nigeria with an event in Lagos. This new network will enhance the firm’s capacity to deliver services locally, while also offering access to a wider array of specialists and industry expertise.
Aligning with this strategic move, Forvis Mazars has joined the African Energy Week (AEW): Invest in African Energy 2024 conference – scheduled for November 4-8 in Cape Town – as a bronze sponsor. Representing the continent’s largest energy event, AEW: Invest in African Energy takes place under a mandate to make poverty history by 2030 and is the premier dealmaking platform for the sector. Forvis Mazars’ sponsorship reflects the company’s commitment to supporting project development in Africa and will enhance discussions around financial, tax and international audit services.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.aecweek.com for more information about this exciting event.
Forvis Mazars has further expanded its African operations, opening new offices in Zimbabwe, where it aims to support local natural gas projects with its extensive expertise in audit and advisory services. The firm’s new Zimbabwe office underscores its strategic focus on strengthening its footprint in key African markets, providing tailor-made solutions to drive success in major energy and development projects. Various energy projects are underway in the country, including the Cabora Bassa Project by upstream company Invictus Energy. Invictus Energy recently announced a second gas discovery in the Mukuyu-2 well at its 80% owned and operated Cabora Bassa project which significantly enhances Zimbabwe's energy potential.
The firm also opened new offices in Ouagadougou, Burkina Faso in April 2024. This expansion signifies Forvis Mazars’ commitment to supporting local businesses and energy projects in West Africa with specialized financial and advisory services. West Africa is on track to become a global energy hub, given large-scale developments currently underway. In Senegal, the Sangomar Oilfield started operations this year while construction of the Greater Tortue Ahmeyim LNG project – situated on the maritime border of Mauritania – is progressing rapidly, with production on track for Q4, 2024. Other major projects across the region include Nigeria’s LNG Train 7; Ivory Coast’s offshore oil and gas exploration campaigns; the Tema FLNG plant in Ghana; and many more.
Forvis Mazars already extensively operates across Africa, with 45 offices across 26 countries across the continent. The firm supports clients across various sectors with tailor-made solutions throughout all stages of their development. Forvis Mazars’ extensive network includes countries such as Algeria, Angola, South Africa and Mozambique, where they provide crucial advisory services to drive success in major energy and development projects. The firm assists African nations in effectively auditing, taxing and capitalizing on these projects, driving sustainable growth and development in Africa’s energy sector. This extensive presence as well as the company’s diverse range of services has made it one of the top six largest accounting firms in Africa.
“Forvis Mazars’ financial and advisory services are crucial for African energy projects. The firm’s expertise in audit, tax and advisory services provides the robust foundation that energy companies need to thrive in a competitive market. Forvis Mazars’ dedication to sustainability and innovation aligns perfectly with the Chamber’s vision for the future of Africa’s energy sector,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
During AEW: Invest in African Energy 2024, Forvis Mazars will engage with industry leaders, project operators and government representatives to discuss their latest initiatives and contributions to Africa’s energy landscape. The firm’s local insights and global expertise make them an invaluable sponsor for this year’s edition of AEW: Invest in African Energy.