OGR July - August Edition 2020

LABACORP INTERVIEW
Labacorp Energy is set to unlocking Cameroon’s
potential in major industries - Bako Ambianda
Bako Ambianda, is a Cameroonian,
Founder, Chairman and CEO, Labacorp
Group of Companies. He is also the CEO of
Labacorp Energy Limited.
Today, the Labacorp Group has grown from
just housing an events organizing team to
owning businesses across manufacturing,
power, construction, agribusiness, and
exhibition sectors with operations in six
countries with 79 employees, and a
footprint in Africa, Middle East and North
America.
Bako Ambianda has been listed on Forbes
Africa 30 under 30, Class of 2020, and has
been named one of the Most Influential
People of African Descent (Under 40) by
MIPAD, 50 Most Admired Global Africans
by PASSION VISTA, and received the 2018
Global Business Disruptor Award by PAYA.
He is an international development expert,
author, speaker, philanthropist and
entrepreneur.
Through his activities in the personal
development industry, he created Bako
Ambianda International (BAI), also known
as The Bako University to inspire young
professionals through books, videos, and
personal growth trainings.
In this interview with NDUBUISI MICHEAL
OBINEME of Oil and Gas Republic, Bako
speaks about his company, Labacorp
Energy, and business plan to unlocking
Cameroon's potential in the Energy
industry. Excepts:
OGR: Please tell us more about Labacorp
Energy?
Bako: I am a Global African Entrepreneur,
seeking to build great companies that will
foster development, especially in Africa,
because Africa is yet to achieve its growth
potential in terms of economic
development. I serve as the President and
CEO of Labacorp Energy, a subsidiary of
Labacorp Group.
Labacorp Energy Limited is an indigenous
oil and gas service company with
operations primarily in West and Central
Africa, and interests in other international
markets. Our main services are
distribution of Olympus Non-Destructive
Testing (NDT) products, promotion of Oil
and Gas exploration and production
opportunities, provision of technical and
engineering services, marketing of
innovative Oil and Gas products, marine
logistics support services, procurement,
sale and distribution of petroleum
products.
OGR: What are your plans to getting involved
in Cameroon’s major industries, more
particularly the energy sector?
Bako: Most of the major industries in
Cameroon are yet to be developed or are not
working to their full potentials for one reason
or the other, ranging from lack of funds to lack
of equipment and operational expertise. This is
a major opportunity for investors to tap into.
They can take advantage of these challenges
and put their money into these industries and
be sure to make a lot more.
Thanks to our top-notch partners and
extensive network in and out of Cameroon,
Labacorp Energy Limited has the ability to
bring the business and the resources needed
to unlock the potentials in Cameroon’s major
industries, especially in the energy sector.
OGR: You will be organising an Oil & Gas
Business Mission to Cameroon, what are your
business strategies to attract foreign
investors?
Bako: Cameroon is the sixth-largest producer
of crude oil in the Sub-Saharan Africa region,
currently producing over 100000 barrels per
day. The National Hydrocarbons Corporation
(SNH) under the supervision of the
government of Cameroon has put out nine
blocks in the hydrocarbons rich Rio Del Rey
Basin and in the highly prospective
Douala/Kribi-Campo Basin on promotion.
These are opportunities that if tapped into and
exploited; by bringing in the right people and
businesses with expertise in the sector,
Evy Maffini
Glacier makes
appointment in
Norway to grow
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Cameroon can see itself moving higher in the
energy production ranks thereby leading to an
overall development of the energy sector and why
not other sectors related energy.
It is very common to hear Cameroon being
referred to as Africa in miniature probably because
it is possible to find almost everything on the
African continent in Cameroon. Apart from Oil,
Cameroon has a whole lot of opportunities,
ranging from agriculture and horticulture to
transport, education and training, health, and
mining. It is worth noting that Cameroon recently
discovered 300 new mineral deposit sites in five
regions of the country, and these sites cover only
40% of the country’s national territory, leaving a
huge 60% still to be explored. This is just one of the
many attractive opportunities that can be
exploited in Cameroon.
The Oil and Gas Business Mission to Cameroon is
scheduled to take place from June 7 - 10, 2021.
The main strategy we are putting in place to attract
foreign investors is finding what these investors
are looking for and using the Oil and Gas Business
Mission to Cameroon as a gateway for them to get
these things.
Investors are looking for concrete opportunities
and the Oil Gas Business Mission to Cameroon will
focus on oil and gas exploitation opportunities and
doing business in the oil and gas sector in
Cameroon.
We are also putting forward the advantages the oil
and gas industry has to offer, and the opportunity
to build networks with existing oil and gas
companies in the country
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OIL AND GAS REPUBLIC I SPECIAL EDITION