First Energy Africa Oil Corp. ("First Energy Africa" or the "Corporation"), a Calgary-based energy corporation, 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, a move that signals the company’s focus on strengthening governance and strategic execution as it pursues exploration and block acquisitions in sub-Saharan Africa.
Mr. Akit, founder and managing partner of a resource advisory firm, brings 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. 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.
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 on 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 come as First Energy Africa, a privately held Canadian corporation headquartered in Calgary, continues to focus on responsibly unlocking value across its resource portfolio in sub-Saharan Africa. The company is committed to upholding the highest standards of governance and sustainability. The addition of Akit and Kozak is expected to provide the board with enhanced expertise in capital markets and resource operations, which is critical for navigating the complexities of exploration and block acquisitions in the region.
With a combined track record of raising substantial capital and deep knowledge of African and South American markets, the new directors are well-positioned to guide the company’s strategic priorities. Their experience in both engineering and finance will help First Energy Africa balance technical challenges with financial discipline as it seeks to expand its presence in sub-Saharan Africa. The board refresh underscores the company’s dedication to strong governance and its long-term vision for growth in the energy sector.
