Ozim Ifeoma Ibeziako, is a commercial and energy lawyer with over twenty-three years industry experience. She is currently working with GE Vernova as the executive general counsel for Africa, with the overall responsibility for GEV’s brand, legal and compliance risk mitigation in the 23 countries where GEV has a footprint in sub-Saharan Africa.
She is best described as a business lawyer, with multi-jurisdictional expertise in the energy industry, commercial transactions, corporate practice, regulatory compliance, legal advisory services, project finance, localisation, joint ventures and business development.
Ozim graduated from the University of Nigeria in 1998 and was called to the Nigerian Bar in October 2000. She was also admitted as a Solicitor of England & Wales in 2011 and obtained LLM in Energy Law & Policy, (2007/2008) and MBA in International Business Transactions (2008/2009) from the Centre for Energy, Mineral Law and Policy, University of Dundee, Scotland.
Part of what makes her job exciting is the fact that she works on sustainable projects across Africa, impacting lives and adding great value to the continent, which translates to global win for both investors, customers, and consumers. She sees the challenges facing the region as opportunities for better collaboration, sharing best practices, and lessons learnt, to improve the regulatory climate, stir the economy, and attract the right investment to drive growth.
Ozim also volunteers in her local church, supports charities that promote the cause of the girl-child, and provides scholarships to indigent children. She is a strong advocate for women and is on the Global Advisory Committee of the GE Vernova Women’s Network, where she works with other women and allies to elevate and inspire others to success.
Ozim lives in Lagos Nigeria with her husband Tony, and they both enjoy traveling and adventure. She is truly a nature’s girl and explores her outdoors as a great tool for relaxation.
As an experienced commercial and energy lawyer with a diverse background, what do you consider to be the biggest legal challenges facing the energy industry in Africa today?
The biggest challenge I think that is facing the energy industry in Africa, include the following:
a. Ambiguous legislation and its operationalisation
b. Unclear energy policy and strategy for its achievement
c. Investment and funding in the energy sector
d. Energy security and affordability
e. Clear connection and ease of energy transmission across the value chain
Can you share some of the key strategies or approaches you’ve adopted in your role as the Executive General Counsel for GE Vernova in Africa to mitigate legal and compliance risks across 23 countries?
Some of the key strategies that I have adopted in my role, to mitigate legal and compliance risks, is to first do a country-risk review, to understand the requirements for doing business in the respective countries. Then, ensure that we operate within the regulatory parameters for doing business in those countries.
We regularly have internal knowledge-sharing sessions to ensure that the team understands what is required of us, in every country where we do business, and feel comfortable reaching out for help when required.
We also partner with external law firms, to provide in-country legal support, in addition to our in-house legal team, in the key hubs within the region.
We build strong networks with key industry regulators, stakeholders and rely a lot on local intelligence and in-country colleagues, who help us navigate the culture and nuances of the respective countries.
How can complex commercial transactions or projects be navigated to ensure various legal and business considerations?
At the business development stage, when parties identify key projects to bid for, a couple of questions are thrown up, ranging from the project’s bankability, to structure, and returns on investment.
Finding the right partners, and properly designating roles and responsibilities, including liabilities, are key to the success of the project.
For me, what helps me navigate the complex legal and business considerations in such projects, is to first understand the objective of the different stakeholders, and how to reconcile them as much as possible, in a win-win approach.
Once the project team aligns on the bankability of the project, next is to identify the source of funding, and the risk to the stakeholders and business, taking into consideration, the structure and joint-venture relationships.
Then the next is to put the different risks with parties most suitable to bear the particular risk in question, keeping in mind solutions for risk mitigation and project monitoring.
How has your educational background, including your LLM in Energy Law and Policy and MBA in International Business Transactions, complemented your work in the energy sector?
The primary motivation for pursuing a Masters degree in Energy Law was to develop capacity in the energy space, identify credible networks, understand the global approach to the energy industry, and how the key players interface. LLM in Energy Law provided me this grounding, and ability to work across jurisdictions. It provided me with practical insights into matters I deal with in the course of work. The network I had the privilege of building in the course of my post-graduate degree, still serve as a pool of great resources to leverage in the course of work.
With an MBA in International Business Transactions, I come to the table with a business mindset, prioritising the commercial need of my client, and proffering solutions that will help in making quick commercial decisions and achieving the desired growth and market share.
In essence, both degrees have afforded me the tools to identify my client’s priorities, help them navigate the transactions to achieve the desired growth, with minimal risk, as they transact in multiple jurisdictions.
As a strong advocate for women’s empowerment, can you discuss your involvement with the GE Vernova Women’s Network and how you work to elevate and inspire other women in the industry?
I have been blessed with many strong and successful women in my life, and working in a company like GE Vernova, where we have strong employee resource groups like the Women’s Network, focused on inspiring, elevating and empowering women and allies to advocate, network and develop an inclusive culture for GE Vernova, it gives me the platform to be an additional voice in championing the cause of women, and being available to mentor, coach and ensure that women within and outside the organisation, feel empowered and comfortable to be the best they can be.
Together with other great GEV women, we have regular engagements with our female colleagues and allies, as we forge towards a more inclusive work environment.
From leading the sub-Saharan African hub, to becoming an executive sponsor for the region, and sitting on the global advisory board of the GE Vernova Women’s Network, it is my personal commitment to ensure that no woman is left behind as we provide support groups to help us navigate our careers and personal development, and have our voices heard where it matters.
Given your experience working on sustainable projects across Africa, what are some of the key legal and regulatory factors that need to be addressed to attract the right investments and drive growth in the region?
We could do better with clear and concise legislation in the region. There are too many ambiguities in our legislations that pose a threat to potential investors, and make the work of consultants more tedious, while trying to interpret these legislations and provide advisory services to clients.
When your answer to a client’s question on an otherwise simple legal query starts with, “it depends…”, that level of uncertainty does not help in making quick business decisions. I think we should intentionally do a whole lot better in this regard.
Also, the regulatory agencies should aim to help investors feel comfortable in the governance process in our terrain and trust the system. The bureaucracy and uncertainty in the rules stop short of frustrating intending businesses, and this invariably increases the cost of doing business in our region, and this cost will get passed on to consumers, and the cycle goes on.
There should be more trans-national collaborations, aimed at harnessing our resources in a sustainable manner, pulling funds together, and upscaling for more growth and reach in the region. I think countries within Africa can collaborate even along sub-regional lines, to achieve sustainable energy security in the region.
We need to see more political stability in the region, and security of lives and properties. These fuel investor confidence and ultimately reduce the cost of doing business in our region.
Inflation and foreign exchange volatility is not helping business projections in our region. It will also help if we have more stable monetary policy across Africa, mitigate the currency volatility, so that businesses within our region, have more stable projections on returns on investment.
Share insights or lessons learnt from navigating the legal and business complexities of working across multiple jurisdictions in Africa
It is quite challenging to see the difficulty with movement of goods and personnel within our region. Sometimes, it is easier to get visas to countries outside Africa, than traveling within the region.
Traveling within the region comes with its own heightened challenges. It will help if regional organisations and countries are deliberate in ensuring ease of travel within the region. The cost of air travel within the region, coupled with connectivity issues, sometimes outweigh the attendant benefit of the business venture. We can do better in this regard, and have affordable and multiple regional flights. African countries should collaborate to intentionally open up the regional markets and make cross-border transactions seamless.
I have come to understand the different legal systems, the nuances of doing business in different countries, and being more emotionally aware, while working across cultures in the region.
How do you balance your demanding career with your volunteer work and personal interests, such as your love for travel and the outdoors?
I intentionally plan for them, knowing that it is not possible to do it all at once. There is time for everything. So, when I am working, the focus is on getting the work done, and we can play without distraction.
I have learnt not to wait till it is convenient to rest. I find my rest in between work, such as taking a walk either in the mornings, when I can, or after work.
These walking times are precious me-times, without gadgets, just soaking in the environment, be it the sound of ocean splashes, soaking in the greens around me, or reflecting with my journal in my hand. These are precious moments that I literally do not have a gadget on me, to help me connect with my core, and relax.
Traveling have sort of become an offshoot of work, as I have intentionally toned down on personal travels, due to work travels, and in as much as I still love to discover new places, and cultures, I do them more in the course of work, while still leaving room for few personal ones.
I also do some gardening, and just love that opportunity as well. And spending time with family and friends are huge premium times for me as well.
Tell us about your multi-jurisdictional expertise in the energy industry
Working across different countries in Africa has exposed me to the different legal systems – common and civil law, navigating them, the languages – be it English, French, Portuguese or Spanish, and realising the nuances for each sub-region, and the affiliations within these borders too.
Finding the right legal partners in some regions is not as easy as others, and in this, I see a lot of opportunities for cross-border law firms and legal support.
It is also helpful not to assume that things work the same way in Africa. Therefore, it is important that we take time to understand the countries, and their peculiarities, and be better positioned to address them.
Given your passion for sustainable development in Africa, what policy or regulatory reforms do you believe are most crucial to attract the right investments and drive economic growth in the energy sector across the continent?
Every country should have a clearly defined energy policy, with a sustainable plan to achieve energy security.
There is no one-size fits all approach, therefore, every country should look at their available energy sources, find the right energy mix to help provide sustainable energy to its citizens.
Attracting investors should also be a priority. Therefore, political stability, guaranteed return on investment, and public-private partnership with affordable funding should be the focus in helping countries achieve the required growth in the energy sector.
What challenges have you observed in our clime?
One of the challenges that I have seen in our climes is requests for improper payments and bureaucracy. When the system understands that you do not want to win at all cost, and are willing to give up an opportunity, rather than win a competitive edge improperly, it will align after several delays.
Letting people know where you stand on an issue, and the value of integrity above profit, have helped me navigate potential compliance issues.
Based on your extensive career journey, what key lessons or insights have you gained that you would share with aspiring commercial and energy lawyers looking to build a successful and impactful career in Africa?
One key advice that I would give an aspiring commercial and energy lawyer is to try and understand what your business value-proposition is. Understand the product and services that your company or clients are selling. Know the attendant legal risks and how best to mitigate them. Know your customers and key stakeholders. Prioritise their needs and be a great business support to them.
Ask questions, be curious and find a buddy that will teach you the rudiments of the products, especially if you are working in a technical environment.
Aim to understand and to be understood. Clear communication is important. Be approachable and teachable, leveraging on the strengths of support structure, and where you do not understand, or make a mistake, be humble enough to acknowledge, without fear of being vulnerable, for people actually feel more comfortable seeing your authenticity and teachability.
Stay connected with your professional network, and keep improving yourself. Above all, enjoy your work and bring your whole fun self to it.
Concluding words
You are first of all a human being, before your profession. You are not what you do for a living. Retain your humanity, and work in the integrity of your heart. Be optimistic and bring positive energy to all you do. Do not fail to try, because you fear failure. The success you will know is the one you have attempted.
Finally, there is room for all of us. We can be our brightest lights without diminishing others. As you shine, help light others up too.
