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AKE & Prime Atlantic Launch Nigerian Joint Venture

Source: 8/14/2012, Location: Africa

AKE is proud to announce the launch of AKE Prime, a joint venture formed with wholly-owned Nigerian company Prime Atlantic Limited. Based in Lagos, AKE Prime will provide security and political risk mitigation solutions to organisations looking to operate in West Africa. Available services will include training, consultancy, meet and greet airport pickups and due diligence.

Sub-Saharan Africa, particularly West Africa, remains one of the most important strategic suppliers to the global oil and gas market. However, according to AKE Africa specialist Hannah Waddilove, companies looking to enter the market face a number of risks in the region. "Unless economic growth translates into job creation, Nigeria will continue to be plagued by security concerns, damaging investor confidence. The country is heavily reliant on the energy sector but it is a capital-intensive industry which does not tend to foster mass local employment. Tensions throughout the country are stoked by high unemployment and underdevelopment, and these challenges will take decades to solve at the current rate of progress. This is the reality and as a result, energy firms are often targeted.”

AKE expects low intensity militant activity in the Niger Delta to continue for the foreseeable future, although it is not expected to return to pre-2009 levels. Pirate attacks linked to illegal fuel bunkering in the wider Gulf of Guinea are also expected to increase in frequency and range.

According to Andrew Kain, the CEO of AKE, the services offered by AKE Prime are designed to support business, whether a multinational corporation or small-scale service provider. "We aim to improve safety in the workplace and confidence in the workforce, helping companies to succeed in markets where their competitors are too poorly prepared to establish a presence.” "Security need not be a cost-centre, it should enable operational success and improve returns.”

The launch of AKE Prime is being marked with an event in Aberdeen, Europe's oil and gas capital. Mr. Kain will be speaking at the Aberdeen Maritime Museum, Shiprow, AB11 5BY from 18:00 to 20:00 on the 15th August.

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