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GE Vernova commits to support sustainable energy transition in Nigeria
Nigeria, one of Africa's economic powerhouses, faces a dynamic energy landscape characterized by a growing population, industrialization, and a rising demand for electricity.
Toyota to open a vehicle manufacturing plant in Kenya
The agreement will see Toyota set up a vehicle manufacturing plant in the country. The company has committed an initial investment of Kshs 800 million in the Kenya Thika vehicle manufacturers.
Aramco expands global venture capital programme with $4 billion funds injection
It will take Aramco's overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa'ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.
[Column] NJ Ayuk: African oil and gas and the rest of the world: what changed in 2023?
It’s undeniable that the Russian invasion of Ukraine proved highly disruptive to world energy markets. This geopolitical clash led to the imposition of Western sanctions on the export of Russian oil and fuel and the imposition of a price cap on Russian crude by the G7 group.
Arab Coordination Group allocates $10 billion to support energy transition
This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries.
[Column] NJ Ayuk: Oil market predictions and what they mean for Africa
The chaos certainly was felt in the oil industry, which saw record distortions during the pandemic era, especially during its first few months.
[Column] NJ Ayuk: Oil companies still have vital role to play in African energy
Behind every discovery, final investment decision (FID), and first oil announcement in our continent are companies of all sizes, advancing our energy industry and bringing Africans closer to realizing the energy security and prosperity that their petroleum resources represent.
Arab Coordination Group pledges $50 billion for African development
The Arab Coordination Group (ACG) has announced that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent.
[Free Webinar] Global Payment Strategies for Shipping & Logistics: Empowering Seamless Trade
Join this insightful webinar that delves into the world of global payment strategies tailored to empower seamless trade within the shipping and logistics industry.
[Free Webinar] Global Payment Strategies for Shipping & Logistics: Empowering Seamless Trade
In the rapidly evolving landscape of shipping and logistics, effective cross-border payment strategies have emerged as a critical driver of success. Join this insightful webinar that delves into the world of global payment strategies.
[Column] NJ Ayuk: More progress needed in African gas exploration and development
African gas consumption is slated to rise. Even as total production moves upward, commercial flows from the continent are likely to rise to about 27-28 bcf per day within the next few years and then remain at that level until the late 2030s.
[Column] NJ Ayuk: African oil and gas exploration is going strong
Despite the call heard 'round the world commanding the global business community to divest from fossil fuels and shrink their carbon footprints in the name of net zero, international oil companies (IOCs) still recognize Africa as their next frontier.
IFC invests $11.5 billion for Africa’s green transition and job creation
IFC made $11.5 billion in investments between July 1, 2022, and June 30, 2023, across 40 countries, the largest ever annual commitment for the continent.
ACWA Power signs deal with NREA for 10 gigawatts wind project in Egypt
ACWA Power, a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a player in energy transition, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt.
[Column] NJ Ayuk: Nigeria must fully implement the petroleum industry Act
Nearly two years from its passage into law, implementation of the PIA and its initiatives has been slow for numerous reasons, but not without progress, and signals from Nigeria’s new administration indicate that these conditions will not remain the status quo.
[Column] NJ Ayuk: The promise of Angola’s growing natural gas industry with a ready-made market
From exploration to production and export, the Angolan oil and natural gas industry is bustling with new initiatives. This past year alone, international oil companies and the Angolan government partnered to award numerous regional operators with service contracts.
[Column] Wayne Glossop: Gas power solutions for South Africa
While to date our society has been heavily reliant on coal, it's not able to keep pace with the energy and environmental aspirations of the nation currently.
[Column] NJ Ayuk: Natural gas represents tremendous opportunities for Africa — we must seize them now
For Africa to move forward and grow its natural gas output, a two-pronged approach is required: Gas producers must continue to pump from existing fields while countries with new discoveries must get these undeveloped projects to the final investment decision (FID) stage as quickly as possible.
[Column] Gawie Kanjemba: The state of play of African oil and gas
Historically, oil and gas projects are known to experience delays ranging from 5% to 20% of the project duration owing to project complexity, significant capital requirements and the multi-faceted nature of developments.
[Column] NJ Ayuk: The outlook for African oil in 2023 is promising
Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply.
[Column] NJ Ayuk: Natural gas is key to addressing South Africa’s energy needs today and tomorrow
As the country’s fleet of mostly coal-powered plants struggles to keep up with electricity demand, South Africans are enduring daily power outages that last six to 10 hours a day.
[Column] NJ Ayuk: Time to break the deadlock on TotalEnergies’ offshore gas deal
There’s another complication at hand, in that South Africa’s government has pledged to reduce the power sector’s carbon emissions intensity.
[Column] NJ Ayuk: How domestic gas production can help mitigate South Africa’s energy crisis
The country’s fuel and energy sector is truly in trouble, with power shortages and blackouts worse than ever before.
Volvo delivers the first heavy electric truck to Africa
Deployment of heavy electric trucks is now spreading across the world. With Europe and the US among the leaders, the shift to more sustainable transport is kicking off also in other parts of the world. In Africa, the first heavy electric truck is now being delivered in the city of Rabat in Morocco.
[Nigeria Business Week] Andrea Ayemoba: Investors bet on fintechs, startups
The past couple of weeks have seen a flurry of activities in several sectors of the Nigerian economy. Startups are receiving increasing financial backing from VCs for the growith of SMEs.
[Nigeria Business Week] Andrea Ayemoba: 2022 statistics outline Nigeria's economic status quo
Despite all the setbacks plaguing economies the world over, Nigeria’s GDP for 2022 is projected to be north of $500billion, the largest in Africa. All eyes are now turned to what these next 12 months could bring Africa’s largest economy.
Enquête de la BEI sur le climat en Côte d’Ivoire
91 % de la population ivoirienne interrogée estiment que les changements climatiques ont déjà des répercussions sur leur quotidien.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
[East Africa Business Week] Bob Koigi: Accelerating sustainable and clean transport solutions
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[Column] NJ Ayuk: How Africa can capitalize on its mineral wealth to develop an electric vehicle value chain
As the entire global transportation marketplace marches toward an increasingly electrified and battery-powered future, many countries across the African continent stand at the threshold of profound economic opportunity.
[Interview] Dr. Mima Nedelcovych, Chairman, AfricaGlobal Schaffer
Dr. Mima Nedelcovych is the Founder and Chairman of AfricaGlobal Schaffer, a strategic consulting firm focused on project development, project finance, trade facilitation, and public-private partnerships in developing countries, with a particular focus on Africa.
[Interview] Dr. Mima Nedelcovych, Président, AfricaGlobal Schaffer
Mima Nedelcovych est fondateur et président d'AfricaGlobal Schaffer, une société de conseil stratégique spécialisée dans le développement de projets, le financement de projets, la facilitation du commerce et les partenariats public-privé dans les pays en développement, et plus particulièrement en Afrique.
[Column] Tobias Alando: Securing our future: the path to net-zero
Accelerating the transition to energy efficiency and conservation is one of the surest ways of securing the future of our planet for generations to come. This is because, energy is at the heart of climate change.
[Nigeria Business Week] Andrea Ayemoba: Nigeria battles odds to maintain productive economy
According to the International Monetary Fund, Nigeria is being pushed to the brink by inflation. Banks however, one of the pillars of the economy, have remained in good standing.
[East Africa Business Week] Bob Koigi: Region bets on bioeconomy to bolster growth
Among the key interventions proposed in the strategy is the creation of new forms of sustainable bioenergy, and the conversion of waste materials to useful products.
[Nigeria Business Week] Andrea Ayemoba: Gas price triggers ripple effect across industries
Nigeria’s inflation as of the month of May stood at 17.71%, but economists are now predicting just a month later a new figure we can expect at the end of this year.
[Nigeria Business Week] Andrea Ayemoba: Nigeria scores big in budget transparency
The infrastructure of Nigeria is such that for meaningful progress to be made, there must be give-and-take on the parts of the government and the people.
[Nigeria Business Week] Andrea Ayemoba: Government, Industries move to expand women enterprise
With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.
[Nigeria Business Week] Andrea Ayemoba: Banks move into East Africa, telecom pushes NSE profit
The telecom industry this week recorded a peculiar development – the massive registration of Nigerian SIM card holders.
[East Africa Business Week] Bob Koigi: West meets East
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
[Nigeria Business Week] Andrea Ayemoba: Banks rally behind women-led SMEs
The NNPC has an approximated value of 50 trillion naira. With oil and gas infrastructure in Nigeria constantly plagued by mischief and vandalism, an ECOWAS expert has profferred a very interesting solution to this persisting problem
[Nigeria Business Week] Andrea Ayemoba: Clean energy gets funding amid inflation and trade deficits
Oil and Gas has been a pillar supporting the Nigerian economy for a very long time. Rich in this natural resource, Nigeria may be guilty of neglecting other promising sectors, like Agriculture and even Insurance.
[Nigeria Business Week] Andrea Ayemoba: Digitization set to penetrate capital market, investment
Given the economic situation spreading across the globe in the last couple of years, it is with some optimism we can take the modest increase in Nigeria’s GDP.
[Nigeria Business Week] Andrea Ayemoba: An economic overview for Q1
As we have seen over time, when one sectors hits a low point, another is seen hitting high notes. Such is the situation as we’ve seen it lately.
[Nigeria Business Week] Andrea Ayemoba: FG targets unidentified sim cards, CBN targets non-compliant banks
Events this week have taken an interesting turn – investors have in the last few days demonstrated a lack of confidence in the banking sector, otherwise known for its resilience in the face of economic instability.
[Nigeria Business Week] Andrea Ayemoba: Telcos break new ground, digital loans gain momentum
Instant loans, sometimes called digital loans, are gaining speed in the country and the telecom sector took some giant steps forward this week.
[Nigeria Business Week] Andrea Ayemoba: Government, experts look to non-oil exports for economic recovery
The math is really simple – a rise in fuel prices leads to a rise in price in everything on the market because it costs more to transport it.
[Nigeria Business Week] Andrea Ayemoba: A call for exports diversification for higher market gains
Agriculturists and entrepreneurs are working harder than ever to address food sufficiency, but energy rests firmly on the government’s shoulders.
[Nigeria Business Week] Andrea Ayemoba: State to digitize tourism, FG takes on efficient mobility
Banking is one of the most thriving sectors in Nigeria. The reason for this success has been attributed to the efficiency with which this industry has leveraged technology to modernize its operations.
[Nigeria Business Week] Andrea Ayemoba: Economic conditions returning to pre-pandemic levels
The startup movement has picked up pace in Nigeria over the last decade, with the government and responsible agencies ramping up efforts in motivating the burgeoning industry.
[Nigeria Business Week] Andrea Ayemoba: Government, Central Bank turn focus to the startup movement
There’s an ongoing comparison in Nigeria's status quo that is causing some rift – the national statistics and reports are showing a promising and stable economy, but the situation on-ground reflects a different reality.
[East Africa Business Week] Bob Koigi: Heightened oil and gas activities inspire more investments
As the East African nations continue to make oil and gas discoveries, investors and multinationals are pitching tent in the region on an exploration binge with governments betting on the newfound resources to grow national and regional economies.
[Nigeria Business Week] Andrea Ayemoba: 5G becomes national security policy, industries seek sustainability in technology
The one thing the current global pandemic has unilaterally effected in all nations is a rearrangement of priorities, both for people and for governments. Survival elements – food and healthcare – have taken lead position.
[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G
Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent.
[Nigeria Business Week] Andrea Ayemoba: The 'ember' months performance review
The end of year (fondly referred to as ‘ember months’) tends to bring about anxieties of different sorts among Nigerians.
[Nigeria Business Week] Andrea Ayemoba: Industries unanimously look toward renewable, sustainable practices
The Covid-19 crisis has been cause for numerous economic slumps round the world; companies were shut down, production halted, industries crippled and prices skyrocketed the world over.
[Nigeria Business Week] Andrea Ayemoba: A 5G promise looms, global trade predictions show winning numbers
Nigeria’s tactic is one of sharpening the sectors that have shown promise (such as technology, agriculture and banking) while throwing resources at those that have been in a work-in-progress mode for years.
[Nigeria Business Week] Andrea Ayemoba: Nigeria enters green market, takes on AfCFTA implementation
The collaboration of government with industries is crucial for economic progress, be the market large or small. Nigeria knows this and is taking steps to work closely and create better transparency in one of the country’s most robust industries.
[Startup Interview] Adedokun Muhammed-Ali Adedeji, Founder, Brightcloud Automobile, Nigeria
Adedokun Muhammed-Ali Adedeji is a Nigerian innovator, entrepreneur and logistics manager. A green mobility advocate, Adedokun is the founder of Brightcloud Automotive.
[Column] Mathew Hall: Why off-grid solutions are starting to make more sense to South Africans
With load shedding back and disrupting day to day life, compounded by consumers feeling the 15% increase on their electricity bill, alternative sources of energy are starting to look more attractive to South Africans.
Eastern and Southern Africa's vast renewables potential offers route to sustainable growth, IRENA
Eastern and Southern Africa are vast, geographically diverse regions with rapidly growing populations and rising demands for energy. According to master plans for the two regional power pools, electricity demand is set to grow.
[Column] Andres Vega: Powerships: A solution for Africa’s energy short-term supply?
Energy poverty represents one of the most critical challenges for development in Africa. According to the International Energy Agency, in 2019, the continent had more than 580 million people without electricity access.
[Column] Titilayo Adewumi: Building greater sustainability, climate resilience in West Africa
Across Africa, urban centres are rapidly expanding as the continent’s large – and growing – youth population seek better fortunes in the city.
[Column] Grace Goodrich: Driving deal making in Mozambique post-COVID-19
While overall transactions dropped by eight percent in sub-Saharan Africa in 2020, in Mozambique, the number of transactions rose, with 12 deals reported compared to only four deals in 2019, according to a Baker McKenzie analysis.
[Column] Charné Hundermark: South Sudan pursues a power sector revival
South Sudan is re-directing its focus on power sector development in a bid to dramatically transform its electricity market, which faces a deficit of approximately 170 MW and has led to one of the lowest electricity access rates globally.
[Column] Gaopalelwe Santswere: What the future hold for South Africa’s energy mix
South Africa relies on coal-fired power stations to produce approximately 90% of its electricity. Moving forward, the country's aim should be to reduce this percentage.
[Startup Interview] Tony Botha, Managing Director, carbonTRACK Africa, South Africa
carbonTRACK Africa is a South Africa technology startup that seeks to create a world where energy is consumed sustainably, shared fairly and empowers all people.
Rystad Energy analysis shows Africa’s renewable energy capacity is set for consecutive years of growth
Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows.
[Column] Emma Colenbrander: Is an Amazon for Africa’s “energy poor” in the making?
A majority of consumers in Africa still live off the grid, in what are commonly called "last-mile" communities.
New economic analysis for Malawi calls for efficient public investment management to improve service delivery in water and energy
Malawi faces an infrastructure investment gap in the energy and water and sanitation sectors of approximately $332 million per year due to limited fiscal space combined with weak public investment management and inefficient State Owned Enterprises.
[Column] Phyllis Wakiaga: Promoting sustainability through energy efficiency and conservation
Energy Efficiency might sound like ‘ Board Room speak’ to many, but what is it really?
New analysis shows onshore wind potential across Africa enough to power the entire continent many times over
Developing Africa’s huge onshore wind energy potential can boost its transition to affordable and reliable clean energy. For the first time ever, wind and solar made up the majority of the world’s new power generation in 2019.
Finance for renewables in developing countries on the rise, IRENA highlights
Global finance to developing countries in support of clean and renewable energy reached $21.3 billion in 2017, which almost doubles the level from 2010 when international financial flows were at $10 billion.
[Column] Neil Ford: South Sudan government bets on marketing to bolster oil reforms
The government of South Sudan is seeking to greatly change the way it markets its oil in order to boost revenues and make the process more transparent.
Mauritius oil spill puts spotlight on ship pollution
Often close to world shipping lanes, small island and coastal nations are at particular risk from oil spills.
[Column] C. Derek Campbell: Stakeholders engagement and security will be key to ensure success of Mozambique’s LNG projects
The scale and enormous economic potential of Mozambique’s LNG projects constitutes a seminal effort with national, regional and global implications and visibility.
[Column] Leoncio Amada: Economic recovery must go through a reform of forex regulations in Central Africa
The health and economic crisis caused by the Covid-19 pandemic is devastating the productive, economic and financial systems throughout the entire planet.
Protecting trade in Nigeria, how DFIs are responding to COVID-19
With the COVID-19 pandemic continuing to devastate economies around the world, Africa is set to experience its first recession since the 1990s, threatening to undo two decades of growth and development.
[Column] Toufik Khitous: How Egypt bets on renewables to meet expected energy demand surge
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?
[Column] Siyabonga Mbanjwa: Delivering sustainable energy across Africa in a more accessible and reliable way
The global Coronavirus pandemic has disrupted the operating environment for both the public and private sectors as a result of the unprecedented lockdowns and restrictions put in place by countries to curb infections.
[Column] Dr. Kevin Kariuki: The journey to electrifying Africa
Five years into the African Development Bank’s ambitious New Deal on Energy for Africa, the Bank’s investments are set to provide electricity access to around 13 million people.
[Column] NJ Ayuk: African lives matter, too; Energy Policy decisions should consider their needs
As African oil and gas countries struggle with Covid-19’s devastating impact on demand, two international groups seem to be celebrating it.
Industry downturn in Angola presents opportunities for local content and marginal players
With an economic recession expected at -1.4 per cent by IMF this year, Angola is expected to be less hit than its immediate neighbours or than the rest of African oil-producing countries.
[Column] NJ Ayuk: How Africa can make a comeback from the oil and gas downturn
Stunning drops in crude oil prices—the result of COVID-19-related declines in demand and an oil price war between Saudi Arabia and Russia—have been taking their toll around the globe this spring.
East Africa’s oil industry: A new story in the making
The recent acquisition by Total of Tullow Oil's entire interests in the Lake Albert Development Project in Uganda marks the beginning of a new chapter for East Africa's energy industry.
Most commodity prices to drop in 2020 as COVID-19 depresses demand, disrupts supply, World Bank
The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook.
Should Africa consider the nuclear energy route?
Despite its advancements over the years particularly in the oil, gas and power industries, it is no secret that Africa is still plagued with the very real issue of inefficient energy supply.
[Column] Verner Ayukegba: Africa’s energy transition must be African at heart and in practice
Africa is at an energy cross-road. On one hand, the most talented, better educated, most entrepreneurial and competitive generation the continent has ever had is rising.
COVID-19 affirms urgency for trade facilitation reforms in Angola, UNCTAD
The coronavirus (COVID-19) pandemic’s blow to global oil prices has re-emphasized the need for Angola to wean its economy off volatile fuel exports.
The investment case for energy transition in Africa
Falling technology costs have made renewable energy a cost-effective way to generate power in countries all over the world, which would drive further development and improved economy.
[Column] Bob Koigi: Of coronavirus crisis and the silver lining for Africa
As economies take a hit from the impacts of the Coronavirus pandemic, the crisis is birthing opportunities and continues to create crucial lessons on resilience and adaptation especially in Africa.
[Column] NJ Ayuk: The Mozambique gas promise and why it epitomizes the African dream
It has been almost exactly ten years since Anadarko drilled the well that would give Mozambique its first major gas find in over sixty years of mostly disappointing oil and gas exploration.
[Column] NJ Ayuk: Opportunities for African oil producers post OPEC+
Sometimes it is easy to forget how interconnected human lives across the globe have become.
Offshore Network publishes Nigeria Well Intervention Forecast
See how to position yourself to take advantage of an uplift in activity as the Nigerian government puts well intervention at the forefront of production plans
[Column] NJ Ayuk: We must not jeopardize Africa’s future in the name of fighting climate change
Pressure is building to phase out fossil fuels in Africa to fight climate change.
[Column] NJ Ayuk: What Africa’s Future Liquefied Natural Gas producers can learn from Qatar
As I got into the process of writing my recent book Billions At Play, The future of African Energy and doing deal, the story of Qatar intrigued me.
[Column] Boris Ivanov: How global energy dynamics are shaping the outlook for African exploration
Africa is a continent rich in energy resources, but poor in supply. For most Africans energy is either unaffordable, unreliable or inaccessible.
[Column] Olagoke Aluko: Liquefied Petroleum Gas (LPG) regulations lead the way in reshaping consumer behaviour and industry in Kenya
Kenya has paid a heavy price in lives lost for its slow uptake of LPG as a cooking fuel.
[Column] NJ Ayuk: Between extortion and the sanctity of Petroleum contracts in Nigeria, DRC and Senegal
Last week, a UK commercial court gave reason to a claim by engineering company P&ID, which demands over USD$9 billion from the Nigerian government over a failed gas deal.
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COLUMNS.
[Column] Louis Avenant: Trends for African telcos in 2024
Africa’s vibrant telco sector is set for a bumper year in 2024 as it expands operations and broadens service offerings ...read full column here
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[Column] Virodh Sunderlall: What to expect from South Africa’s cybersecurity landscape in 2024
As widely reported last year, South Africa received the most cybersecurity threats on the continent by far ...read full column here
[Column] Stephen Bottger: The power of data analytics to revolutionise public safety
The use of applications, technology and data analytics can play a significant role in public safety globally ...read full column here
INTERVIEWS.
[Interview] Chester Wisniewski, Director of Global Field CTO, Sophos
Chester Wisniewski, the Director of Global Field CTO at Sophos, emphasizes several key trends and predictions for the cybersecurity realm in the coming year … read full interview here
[Interview]: Daniel Otu, Koa’s Production and Operations Director & the factory project lead
Daniel Otu, Koa’s Production and Operations Director & the factory project lead, touched on the challenges faced, the importance of sustainability, the role of local culture, and the lessons that shaped Koa’s future vision … read full interview here
[Interview] Oluwole Eweje, CEO-WATT Renewables Corporation
We provide sustainability for communities, especially communities that have very few businesses … read full interview here