Gemcorp has deployed approximately $10 billion since its founding in 2014, primarily across Africa. “Our DNA has really been Africa,” Alao said. “Global emerging markets is where we focus, and Africa remains critical for us.”

He pointed to Sangomar reaching production and the cross-border agreement underpinning the Greater Tortue Ahmeyim (GTA) LNG project between Mauritania and Senegal as an inflection point for the MSGBC basin. “We're very excited to see all the adjacent opportunities that will come from these main accomplishments,” he said.

Gemcorp owns 90% of Angola's Cabinda refinery, the first new refinery Angola has built since independence in 1975. Its first phase processes around 30,000 barrels of crude per day, and the plant began selling diesel into the Angolan market this year. Pham said the experience of working with development finance institutions (DFIs) and engaging local communities on Cabinda carries over to the MSGBC region, though Gemcorp does not need to lead as developer. “We're happy to work with other stakeholders,” he said. “We're happy to work with the local developer to find the solution there.”

Pham positioned the firm's private credit model as a partner to existing lenders. “Our solutions tend to be more agile and more flexible,” he said. “We see our role as more complementary to the DFIs and the commercial banks rather than a direct competition to them.”

In the MSGBC basin, he identified openings across the value chain. “It could be oilfield services companies. It could be helping a JV partner within Sangomar or GTA to monetize their portions,” he said. “It's going to depend on the need of the counterpart, and that's why the [MSGBC] forum is quite interesting to us.”

Local presence anchors that approach. Imbono, the group's operating arm, has more than 900 staff on the ground monitoring Gemcorp's investments. “We don't do suitcase business,” Alao said. “We like to build very strong relationships with the stakeholders in the jurisdictions that we invest in, because we like to do repeat business.”

For Alao, MSGBC Oil, Gas & Power 2026 is about converting dialogue into transactions. “I'm really excited to meet a lot of Francophone people, because that's where I'm from,” he said. “And to move from conversations to actual deal execution, because that's what I like about this setup. We talk about real, tangible transactions that can actually come to life after this forum.”

Pham highlighted the value of bringing the basin's five markets into one room. “It's quite hard to have an event with these five countries together,” he said. “Having a forum where you can talk to the top players and the policy makers in these five countries is very helpful, and we hope to find an actionable investment that we can do after the forum."

Gemcorp's participation adds an emerging markets private credit perspective to a financing lineup in Dakar that already includes the International Finance Corporation and the Africa Energy Investment Corporation, as the basin's project pipeline moves from first production toward an infrastructure and services buildout.

MSGBC Oil, Gas & Power 2026 takes place December 1-3 at the CICAD in Dakar, Senegal, under the High Patronage of President Bassirou Diomaye Faye. To sponsor or participate as a delegate, visit www.msgbcoilgasandpower.com.