Experts on regional strategic policy have urged BRICS member countries to step up efforts towards setting up its own credit rating agency as an effective mechanism to consolidate the bloc’s new multifaceted spheres of cooperation. BRICS (Brazil, Russia, India, China and South Africa) is currently working on a set of new proposals including the establishment…
The options for mining companies battling new legislation in the Democratic Republic of Congo — Africa’s biggest copper producer and the source of two-thirds of the world’s cobalt — have just about run out. After six months of lobbying, companies including Glencore Plc and Randgold Resources Ltd. have got nowhere in their battle to push back against the mining…
A whopping US $100m will be spent on four development projects in Mozambique with funding set to come from the Chinese government; this was confirmed during the 6th session of the Joint Commission between the two countries. The four projects include the construction of the Gorongosa Technical Institute in Sofala, construction of Xai-Xai airport in…
With recent reports estimating that six hundred million people are without access to electricity in sub-Saharan Africa, significant and sustained investment is required across Africa’s entire energy generation and supply value chain. While even a decade ago meeting Africa’s energy backlog was considered unaffordable, today, many largely technology-driven factors are creating new opportunities for investment…
Luanda — Angola’s capacity grew to 1,108 MW in 2017, from 400 MW in 2016, becoming one of the five largest powers in the continent in this sector. The local Laúca and Cambambe dams put the country on the list of the five nations that most increased hydroelectric capacity in 2017. Despite the work to…
The African Development Bank (AfDB) has approved a senior loan of US $29.5m and a concessional loan of US $20m from the Climate Investment Funds (CIF) Clean Technology Fund (CTF) to Quantum Power East Africa GT Menengai. The funding will be towards the development of a 35MW geothermal power plant at the Menengai geothermal field…
Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker will announce new electricity tariff categories, ministry spokesman Ayman Hamza said on Monday. State news agency MENA reported that the proposed tariffs will come into effect in July. The decision to lift subsidies forms part of Egypt’s economic reform programme, which started in 2014 and included…
The World Bank has approved $125 million in additional support for Morocco’s adoption of innovative solar technology, as part of the national goal of developing the country’s world-class solar and wind energy resources. The additional financing, which includes $25 million from the Clean Technology Fund, will support the development and construction of the Noor-Midelt I and…
New analysis finds G20 countries are investing heavily in fossil gas in direct contradiction with Paris Agreement goals they have agreed to, according to a report titled ‘Debunked: The G20 Clean Gas Myth’. The report finds that G20 countries, in the absence of new policies, are set to see investment of over $1.6 trillion in new gas…
With financial backing from the U.S. government, solar developer Gigawatt Global Cooperatief UA signed a deal with the 15-nation Economic Community of West African States to build $1 billion of renewable energy projects in the region. The U.S. is supporting the project through its Power Africa initiative set up in 2013 under President Barack Obama’s administration, a…