First Energy Africa Oil Corp. ("First Energy Africa" or the "Corporation"), a Calgary-based energy corporation, today announced the appointment of Simon Akit and Frederick Kozak to its Board of Directors, effective July 13th, 2026. The appointments bring a combined 60 years of capital markets and resource industry experience to the board, signaling a strategic move to bolster governance and expertise as the company pursues exploration and block acquisitions in sub-Saharan Africa.
Mr. Akit, founder and managing partner of a resource advisory firm, brings more than 25 years of experience in Canadian and U.S. capital markets, along with seven years of engineering and operations experience in the resource industry. He has held senior capital markets and leadership roles at Ventum Financial, Canaccord Genuity, among others, and has raised over $5 billion in equity and debt financing for resource companies from institutional investors across Canada, the United States, Europe, and Asia. He holds an MBA from the Rotman School of Management at the University of Toronto, is a Professional Engineer (APEGA), and currently serves on the boards of several public and private companies.
Mr. Kozak, a former oil and gas research analyst at Canaccord Genuity, is an award-winning financial analyst and corporate executive with more than 40 years of experience in the resource and capital markets sector, with a focus in Africa and South America. He holds an MBA from the Ivey School of Business at the University of Western Ontario, is a Professional Engineer (APEGA) with Lifetime status in Alberta, and currently serves on the boards of one public company and one private company.
"Simon and Fred are bringing complementary technical and capital markets seniority required for our complex business. We are confident their contributions will set the right approach on our strategic priorities," said Jeff Ruskowsky, President of First Energy Africa. The appointments underscore the Corporation's commitment to upholding the highest standards of governance and sustainability as it continues to responsibly unlock value across its resource portfolio.
First Energy Africa Oil Corp. is a privately held Canadian corporation pursuing exploration and block acquisitions in sub-Saharan Africa, headquartered in Calgary, Alberta, Canada. The addition of directors with deep capital markets experience and technical expertise is expected to enhance the company's ability to navigate the complexities of resource development in the region, potentially impacting project financing and strategic decision-making.
