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 new directors bring a combined 60 years of experience in capital markets and the resource industry, signaling a strategic move to bolster the company's governance and expertise as it pursues exploration and block acquisitions in sub-Saharan Africa.
Simon Akit, founder and managing partner of a resource advisory firm, has over 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. Mr. Akit 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. His appointment is expected to enhance the board's ability to navigate complex capital markets and financing strategies.
Frederick 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. Mr. Kozak 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. His deep knowledge of African resource markets will be instrumental as First Energy Africa expands its footprint in the region.
"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, First Energy Africa. The appointments align with the Corporation's commitment to upholding the highest standards of governance and sustainability as it continues to responsibly unlock value across its resource portfolio. With the addition of these seasoned professionals, First Energy Africa aims to strengthen its strategic direction and operational execution in the competitive energy sector.
