In a statement seen by Eye Radio the African Energy Chamber based in South Africa rejected The Sentry investigation report against Trinity Energy in South Sudan.

The African Energy Chamber described accusations made by The Sentry as misleading, disrespectful, and unfair to South Sudan and Trinity Energy.

“The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment,” stated the statement.

“An obsession to taint an African Energy Company, Trinity Energy, and the South Sudan oil industry by any means, and certainly without an understanding of the facts and how the oil industry works.”

It also stated that it is important that in this rush to judgment, truth and an understanding of the oil industry should be the number one priority rather than overlooking and manufacturing evidence to attack South Sudan and Trinity Energy.

The statement says Trinity Energy, like many indigenous companies in Africa, is committed to the development of its home country South Sudan and has a good understanding of the socio-economic landscape to be impactful.

According to the African Energy Chamber countries with the greatest need will not prosper without domestic players who are willing to solve their unique challenges.

The statement pointed out that Trinity Energy has invested in South Sudan and took on the challenge of facing a young nation, inconsistent supply of fuel, the black market, and inflated cost of fuel.

It says this investment was made at a time when the supply chain was broken, and there were no clear systems to ensure refined products could be imported to South Sudan due to insecurity and instability.

It added that there was no foreign investor who entered the market, but Trinity Energy defied the odds to liberalize the oil market, providing energy security, helping to stabilize the economy, and contributing to the promotion of peace.

The statement stated it is commendable that Trinity Energy Limited agreed on a trade finance facility with Cairo-based African Export-Import Bank (Afreximbank) for a series of $30 million loans to purchase diesel and gasoline to sell to the South Sudan market.

According to Chamber, Trinity Energy has created close to 500 direct jobs and 1,500 indirect jobs. As good corporate citizens, they are also providing education, health, and food relief to their communities.

Afreximbank is one of the largest and most influential Multilateral Development Banks operating in the African region.

In 2022, Global Credit Rating (GCR) gave Afreximbank a credit rating of A, which is a reflection of its strong financial position and the confidence that investors have in its ability to deliver results.

This rating is an important factor in attracting investment and ensuring that the institution has the resources it needs to carry out its mission.

The African Energy Chamber described Trinity Energy as the pride of the African continent, adding that questioning the integrity of their financial facility is insulting to the continent as a whole.

It says prior to granting Trinity Energy a trade finance facility, Afreximbank conducted extensive and appropriate due diligence to ascertain the company’s business practices and ethics.

The statement by African Energy Chamber said Trinity Energy met every standard required to operate in an internationally competitive industry.

It says taking into consideration Afreximbank’s strong compliance practices and adherence to the U.S Foreign Corrupt Practices Act and the U.K Anti-Bribery and Corruption Act and added that it is unthinkable that it would move ahead with financing deals if there was any implication of wrongdoing in their business practice.

Early in February 2023, Trinity Energy management issued a press statement, denying that it had broken any law while operating in South Sudan.

“Our attention has been drawn to the above report by The Sentry which unfortunately contains significant and defamatory allegations against our organization relating to activities from over four years ago,” the statement reads.

Trinity Energy said it reassures the public and all stakeholders that it remains committed to offering customers world-class energy solutions.

The organization further said it affirms its commitment to the future of South Sudan, and to help build structures for the economic and social stability of the country through an efficient and affordable supply of fuel.

The African Energy Chamber accused The Sentry of targeting African companies and ignoring corruption in the U.S.

The statement stated that the US government fined Glencore 1.5 billion USD for corruption and The Sentry did not go after the company.

It pointed out that The Sentry chose to go after an African company that has created jobs, driven economic growth and acted properly. We know why. Trinity Energy is daring to belong in an industry where it is not supposed to be a leader.

“Glencore paid bribes to avoid government audits. Glencore bribed judges to make lawsuits disappear. At bottom, Glencore paid bribes to make money – hundreds of millions of dollars. And it did so with the approval, and even encouragement, of its top executives.” U.S. Attorney Damian Williams.

According to the African Energy Chamber, Trinity Energy has successfully operated in an industry that was shaped only for international companies from western countries.

It stated that South Sudan at this moment must not be deprived of the millions of jobs that its oil sector will bring to the country with the support of Trinity Energy and its executives.

The Chamber says The Sentry report is meant to slow the company’s growth, investment into the country’s oil industry projects, and investment into South Sudan.

“Unfortunately, NGOs like The Sentry.org have always had the paternalistic way of approaching the continent, issuing sensational reports purportedly in support of democracy, transparency, and combating corruption with no respect towards the Africans who are at the forefront of the continent’s long development,” stated the statement.