Atanas Bostandjiev will speak at the fourth edition of the Angola Oil & Gas conference, taking place in Luanda this September

Gemcorp Capital Founder to Speak at Angola Oil and Gas (AOG) 2023

Energy Capital & Power (ECP) ( is proud to announce that Atanas Bostandjiev, Founder and Chairman of UK-based investment group Gemcorp Capital, will speak at this year’s edition of the Angola Oil & Gas (AOG) ( conference, taking place in Luanda from September 13-14.

Gemcorp Capital is an independent investment management firm focused on investing across sovereign and corporate emerging markets. Since its inception, the firm has made over $6 billion in investments across 25 emerging market countries, and has plans to invest a further $10 billion in Africa over the next decade.

As the Founder and Chairman, Bostandjiev is responsible for the overall management and strategy of the firm. With over 25 years’ experience in financial services, Bostandjiev leads the company towards its vision of connecting investors and stakeholders to growth opportunities in emerging markets, including Angola.

The firm has made several sizeable investments in Angola in recent years, including partnering with Angola’s state-owned Endiama Mining for the development of the Mulepe diamond deposit. Gemcorp Capital additionally secured a $189 million contract in December 2022 for the restructuring of Angola Telecom, the national telecommunications operator.

Recently, the firm – alongside partners the African Export Import Bank and the Africa Finance Corporation – announced the financial close of the Cabinda Oil Refinery with a $335 million project financing facility. Following its completion, the project will process 30,000 barrels of oil per day, meeting 10% of the country’s demand for refined petroleum.

According to Bostandjiev, Angola Gemcorp’s main geography for investment, Angola accounts for a significant amount of the Fund’s revenue stream.

“Through persistent economic, legal and social reforms, Angola has continued to attract new foreign direct investment and international development, and we at Gemcorp are excited to be a part of this story. This is why, unlike most funds, we have set up shop on the ground in Angola, and our local company is contributing to local job creation and economic development,”

he says, adding that

“One stand-out in-country example for us is our recent financing of the new Cabinda Oil Refinery, which will increase the country’s energy security and reduce Angola’s reliance on oil imports.”

He further notes that beyond the success of the oil industry, Angola has much to offer foreign investors in other sectors.

Recent government reforms in mining, telecommunications and finance have been instrumental in attracting investments from several multinational companies, including Africell, Rio Tinto, Anglo-American and De Beers, some even with financing made available from us at Gemcorp.

“These are generally exciting times for emerging markets due to high interest rates and inflation experienced in developed countries. These underlying conditions will ultimately help to close the financing gap for emerging markets and lead to an economic boom in the Global South,”

he states.

Bostandjieve highlights that Gemcorp is participating in the conference due to its role as a major player in the oil sector in Angola and Sub-Saharan Africa.

“We are the primary shareholder of the first oil refinery to be built in Angola since colonial times, whose phase one is expected to launch at the end of 2024. Additionally, this would be Gemcorp’s second investment into oil refinery capabilities for African countries, being also a shareholder in the Conex Petroleum Refining Company in Liberia. As such, we are very excited to share our insights with colleagues and explore future opportunities in the region.”

Devi Paulsen-Abbott, ECP CEO says:

“We are looking forward to hosting Atanas Bostandjiev during this year’s AOG 2023 conference. Gemcorp has a long-history of making impactful investments in Angola and represents a strong partner for companies across the entire energy value chain. GeThe company’s investments in Angola align with the country’s efforts to expand refining capacity and accelerate economic diversification, and as such, the firm’s insights will be highly valued at the conference this September.”  

AOG 2023 takes place under the auspices of Angola’s Ministry of Mineral Resources, Oil and Gas and in partnership with the National Agency for Oil, Gas and Biofuels, the Oil Derivatives Regulatory Institute, national oil company Sonangol and the African Energy Chamber. The event unites regional and global oil and gas players under the theme, ‘Energy Security, Decarbonization and Sustainable Development. Visit for more information.

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