During the introductory session of SIREXE 2024, renowned experts shared their perspectives on local content in the extractive and energy industries. This enriching exchange laid the foundations for strategic thinking around this key concept for the sustainable development of national economies.
Multiple visions for a universal concept
Kamel Koné, Chairman of GESPETROGAZ-CI, stressed the importance of local content that directly benefits the Ivorian population. "For me, the notion of local content means ensuring that Ivorians can benefit from the positive spin-offs of their industries and their country's resources," he said.
For Fetegue Koné, Managing Director South America at Valaris Limited, collaboration is the key word. "Local content is about how national companies, operators and the whole chain can work together to develop local capabilities so that the industry becomes self-sustaining," he said.
Halilu Abdulmalik, Director of Strategy at the NCDMB, broadened the definition to include the local production of tangible and intangible solutions. According to him, ‘local content is about ensuring that equipment, hardware and software solutions can be produced locally. It is also about building a supply chain capable of delivering uncompromised solutions and encouraging the nationalisation of companies and the use of existing capabilities.’
Ibrahima Talla, Director of African Content, emphasised the direct impact of national investments. "It's the share of investment that directly affects us as nationals. It's a virtuous circle that enables us to seize opportunities effectively", he explained.
From a strategic point of view, Rémi Piet, Ph.D., Associate Director at EMBELIE Advisory, has integrated the ESG (environment, social and governance) dimensions into his definition. "Local content is first and foremost a strategic framework for managing the risks associated with foreign investment. By promoting policies that create sustainable added value for local populations, we secure a genuine transfer of skills and resources into the national economy", he explained.
Finally, Mor Ndiaye Mbaye, Managing Director of IOGS, emphasised the sustainable aspect of local content. "Local content is what will be left in the country when resources are exhausted. It's the legacy: human resources, businesses and impacts in other sectors such as agriculture," he concluded.
An issue at the heart of sustainable development
These presentations illustrated the importance of building inclusive and sustainable local content, capable of transforming natural wealth into tangible economic opportunities for local populations. They also highlighted the challenges involved in implementing effective strategies that are aligned with national priorities.
As SIREXE 2024 continues to bring together the key players in the extractive and energy industries, this first session paves the way for promising discussions on how to ensure genuine socio-economic development in the host countries.
