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African Utility Week to Showcase Continent’s Business Openings

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By Dipo Olowookere

The award-winning African Utility Week, taking place from May 16-18, 2017, in Cape Town, will showcase how the continent is coming up with innovative, home-grown solutions to its energy and water challenges and how these are creating exciting and lucrative opportunities for utilities and industry suppliers alike.

Experts from respected partners in the industry such as the World Bank, KPMG, Power Africa, Huawei, GE, Shell, SAP and leading African utilities will head up the more than 7000 power and water professionals from more than 80 countries, including 30 African nations, who will gather for African Utility Week.

But this year also kick-starts a specific focus on a new trend in the industry: namely smaller, community scale off-grid projects that are starting to make a real difference in the development of the continent.

“The power and energy landscape in Africa is undergoing significant change” says Evan Schiff, African Utility Week event director, adding that current trends include “the availability of private investment for power and energy projects, the fast development of energy storage, renewable energy is becoming cheaper, gas that is an increasingly attractive  mode of power generation in Africa, and that in the next 10 years, nuclear will become an increasingly important mode of base-load power generation.”

The investment, trade and development opportunities in the sub-Saharan African electricity sector are estimated at $835 billion of capital investment, $490 billion for generation capacity and $345 billion for infrastructure.

Community scale projects are another important emerging trend in the sector. “Utility-scale developments are decreasing,” says Ahmed Jaffer, Chairman of KPMG in South Africa and the Head of Power and Utilities, “while we see a lot more of community-sized generation projects. Businesses and communities are also showing interest in becoming less dependent on the national grids.

“In rural Africa, especially, the economics of expanding the national grids do not make sense; hence there is a significant trend towards mini-grids and other off-grid solutions.”

Alongside the long-running African Utility Week, a new platform for community scale projects, Energy Revolution Africa, will be launched in May this year.

Energy Revolution Africa will provide a unique forum for solution providers to meet with the new energy purchasers such as metros and municipalities, IPPs, rural electrification project developers and large power users, including mines, commercial property developers and industrial manufacturers. The latest innovations and projects in the sectors of renewables, future technology, energy efficiency, micro/off-grid and energy storage will be showcased.

Speaker highlights at African Utility Week include Lionel Zinsou, Former Prime Minister of the Republic of Benin, member of the West African Energy Leaders Group and investment banker; Matshela Koko, Acting CEO, Eskom, South Africa; Lazarus Angbazo, President and CEO of GE Energy Connections SSA; James Stewart, Global Head of Major Projects (Power and Utilities), KPMG; Bob Lockhart, Vice President of Cyber Security of the Utilities Technology Council; Subha Nagarajan, Managing Director for Africa, Overseas Private Investment Corporation (OPIC), USA; Ambassador Tebogo Seokolo, Chairperson of the Board of Governors of the International Atomic Energy Agency (IAEA); and Lucio Monari, Sector Manager for Africa Energy Group, World Bank.

The 17th annual African Utility Week is the leading conference and trade exhibition for African power, energy and water professionals who will have the opportunity to meet over 300 suppliers of services and technology to the industry.

The expo includes a record number of country pavilions, including from Belgium, Denmark, France, Germany, South Africa, China, Czech Republic, Taiwan and India.

Along with multiple side events and numerous networking functions the event also boasts a five track conference with over 300 expert speakers.

The conference programme will once again address the latest challenges, developments and opportunities in the power and water sectors: ranging from generation, T&D, metering, technology and water.

The African Utility Week expo offers an extensive technical workshop programme that are CPD accredited, free to attend, hands-on presentations that take place in defined spaces on the exhibition floor. They discuss practical, day-to-day technical topics, best practices and product solutions that businesses, large power users and utilities can implement in their daily operations.

More side events as part of the African Utility Week platform include:

African Power Finance & Investment Forum: Financiers and project owners will hear from expert speakers who will identify the key trends impacting project finance in regional energy markets with updates on and insights into market opportunities, sources of capital, financing instruments and access to project finance. A featured session on regional power integration will explore new methods of developing cross-border power projects on a PPP basis, explore the opportunities for investors, and show how regional power integration can substantially save capital investment costs.

The Gas-to-Power World Congress reflects the continuing transformation of the energy ecosystem in Africa and beyond. Gas and renewables are perfect partners to help address an array of future energy challenges, including climate change, energy security and energy finance, currently three of the world’s largest and most important challenges. The event will look at new business and investment opportunities in gas-to-power, energy infrastructure, FSRU, LPG and LNG.

The Utility CEO Forum is held as a 3-day by invitation only board meeting alongside African Utility Week, where the men and women who lead and guide Africa’s power and water sectors discuss the path of transformation. Discussions centre on areas of co-operation, development plans and the advancement of regional centres of excellence throughout Africa.

The Nuclear Power Africa Conference features expert speakers who will address the myths and realities, latest technologies, regulatory and financing challenges and the economic spin offs created by a nuclear new build programme. Nuclear stakeholders and prospective suppliers will gain first hand insights into prospects for new jobs, training programmes, and the business opportunities created by the localisation of the supply chain of a nuclear new build.

The fourth edition of the African Utility Week Power Industry Awards brings together 800 of Africa’s most renowned power and water industry professionals. The Power Industry Awards is the leading gathering to recognise, reward and celebrate the successes of Africa’s power and water sectors during 2016/17.

Africa Utilities Technology Council: Telecommunications/ICT conference track programme to be presented that will cover topics such as: IT/OT convergence, IP networks and utility telecoms network performance measures. The AUTC content will continue in three dedicated sessions – one each in the T&D, Metering and Water tracks of the main strategic conference.

Site visits – these capture practical insights and demonstrate real world case studies of innovative technology combined with a unique experience of South African hospitality. Locations include the Bokpoort CSP plant, Eskom Sterrekus substation, Biomimicry Genius of Space project in Langrug, Koeberg Nuclear Power Station, Africa’s only nuclear power plant and a tour of Cape companies that are shining examples with regards to renewable energy and efficiency including HoHotel Verde, Black River Park and Cape Brewing Company.

Apart from KPMG’s diamond sponsorship, industry stalwarts EPG, GE, Huawei, Landis+Gyr, Lucy Electric, Ontec and Shell are platinum sponsors while Aberdare Cables, Conlog, Oracle Utilities, SAP, SBS Tanks and Vodacom have already confirmed their gold sponsorships.

African Utility Week and Energy Revolution Africa is the flagship energy event organised by the multi-award winning Spintelligent, leading Cape Town-based trade exhibition and conference organiser, and part of Clarion Events Ltd, based in the UK. Other well-known energy events by Spintelligent are Future Energy Nigeria (formerly known as WAPIC), Future Energy East Africa (formerly EAPIC), Future Energy Uganda and Future Energy Central Africa. Other industry-leading events organised by Spintelligent are DRC Mining Week, Kenya Mining Week, Nigeria Mining Week, Agritech Expo Zambia, Property Buyer Show, African Real Estate & Infrastructure Summit and Eduweek.

Earlier this year, Spintelligent won four major awards at the ROAR Organiser and Exhibitor Awards, which honour excellence in the exhibition and events industry on the continent and were organised by the Association of African Exhibition Organisers (AAXO). African Utility Week won for Best Trade Exhibition 6001-12000 sqm category (joint winners with the World Travel Market).

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

Popoola Seeks Innovative Market Solutions to Unlock Africa’s Economic Potential

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Ethiopian Securities Exchange

By Aduragbemi Omiyale

The chief executive of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, has called for regional collaboration among African nations for a stronger capital market.

Speaking at the launch of the Ethiopian Securities Exchange (ESX) recently, he stated that working together would unlock the continent’s economic potential, especially with innovative market solutions.

He disclosed that strategic investment of the Nigerian bourse in ESX underscores its leadership in advancing Africa’s capital market infrastructure.

“The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape.

“ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth,” Mr Popoola said.

Expounding on NGX Group’s investment rationale, he highlighted Ethiopia’s immense market potential and the shared vision of fostering economic growth through innovation.

“Our partnership transcends traditional investment parameters.

“It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development,” he said.

Mr Popoola also drew parallels with global success stories like India, which has leveraged its capital markets to achieve significant economic transformation.

He emphasized the importance of responsible market opening to attract local and continental capital, noting, “By following this path, Ethiopia can become a financial hub in Africa.”

Drawing from NGX Group’s six decades of experience, Mr Popoola shared insights on diversifying financial instruments and expanding access to investment opportunities.

“With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market can play a transformative role in driving economic development and establish itself as a leader in Africa’s financial ecosystem,” he concluded.

On his part, the Prime Minister of Ethiopia, Mr Abiy Ahmed, lauded the launch of ESX as a transformative milestone in the country’s journey toward economic modernization.

“Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange,” the Prime Minister announced on X.

“This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity,” he added.

The chief executive of ESX, Mr Tilahun Esmael Kassahun, expressed confidence in the partnership with NGX Group.

“We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” he said, emphasising the value of NGX Group’s expertise in shaping ESX’s growth and success.

With the ESX poised to redefine Ethiopia’s financial landscape, NGX Group’s involvement highlights the critical role of partnerships and shared expertise in advancing Africa’s economic narrative.

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Economy

Nigeria’s Oil Production Rises 152,000b/d in November 2024—OPEC

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Nigeria's oil production

By Adedapo Adesanya

Daily average oil production in Nigeria rose by 152, 000 barrels per day in November 2024, according to the latest data by the Organization of the Petroleum Exporting Countries (OPEC).

According to the OPEC Monthly Oil Market Report (MOMR) for December 2024, the country’s production, including condensates rose by 11 per cent from 1.333 million barrels in October to 1.486 million in November 2024.

The analysis puts the daily increase to 152,000 barrels per day and about one million barrels increase between October and November last year.

This is as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in its latest oil production data indicated that on a month-on-month basis, daily average oil output in December 2024 declined by 1.35 per cent from 1.690 million barrels per day recorded in November 2024 to 1.667 million barrels per day.

Data from the commission also indicated that daily peak oil production in December 2024 was 1.79 million barrels per day while the lowest daily production was 1.57 million barrels per day

Cumulatively, oil output in December 2024, was 51.69 million barrels, a marginal increase of 1.9 per cent when compared to 50.71 million barrels produced in November 2024.

Further analysis of the data showed that the highest oil output in December 2024 was recorded at Forcados Terminal at 8.49 million barrels followed by Bonny Terminal, 7.78 million barrels and Qua Iboe, 4.15 million barrels.

The data showed without condensate, daily oil production was 1.484 million, indicating that Nigeria, again, failed to meet its oil production quota of 1.5 million barrels per day allotted to it by OPEC.

A recent survey by Reuters, however, shows that Nigeria crossed the 1.5 million barrels per day target in December.

The December 2024 average daily oil output also means that Nigeria failed to meet the 1.7 million barrels per day benchmark set for the 2024 budget all through the year.

NUPRC data on daily average production showed that oil production including condensate in January 2024 was 1.64 million barrels per day; February, 1.53 million barrels per day; March, 1.44 million barrels per day; April, 1.45 million barrels per day; May, 1.47 million barrels per day; June, 1.50 million barrels per day; July, 1.53 million barrels per day; August, 1.57 million barrels per day; September, 1.54 million barrels per day, October, 1.54 million barrels per day November, 1.69 million barrels per day and December, 1.67 million barrels per day.

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Economy

Wema Bank, Others Top Activity Chart as Investors Trade 4.698 billion Shares

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Wema Bank stocks

By Dipo Olowookere

The trio of Wema Bank, FBN Holdings, and Universal Insurance topped the activity chart of the Nigerian Exchange (NGX) Limited last week with a turnover of 1.679 billion shares worth N20.838 billion transacted in 4,922 deals, contributing 35.74 per cent and 24.50 per cent to the total trading volume and value, respectively.

Data from Customs Street showed that in the five-day trading week, investors bought and sold 4.698 billion stocks valued at N85.043 billion in 72,562 deals versus the 2.618 billion stocks sold for N69.742 billion in 47,953 deals in the preceding week.

The financial services industry attracted the attention of the market participants with 3.470 billion equities worth N40.791 billion traded in 34,364 deals, contributing 73.86 per cent and 47.97 per cent to the total trading volume and value, respectively.

The services sector followed with 407.032 million shares worth N2.226 billion in 4,996 deals, and the ICT space transacted 237.680 million stocks valued at N3.628 billion in 5,280 deals.

Business Post reports that 51 shares appreciated in the week versus 82 shares in the previous week, 39 equities depreciated compared with 18 equities a week earlier, and 62 stocks closed flat versus 52 stocks in the preceding week.

Multiverse was the best-performing stock with a a price appreciation of 53.42 per cent to N12.35, Honeywell Flour gained 31.67 per cent to close at N10.02, DAAR Communication expanded by 25.71 per cent to 88 Kobo, MTN Nigeria leapt by 21.00 per cent to N242.00, and NCR Nigeria soared by 20.66 per cent to N7.30.

On the flip side, Sunu Assurances was the worst-performing stock after it went down by 36.52 per cent to N7.30, Caverton shed 15.00 per cent to N2.38, Consolidated Hallmark slumped by 15.00 per cent to N3.40, RT Briscoe slipped by 14.33 per cent to N2.57, and Jaiz Bank depreciated by 10.77 per cent to N2.90.

At the close of business, the All-Share Index (ASI) and the market capitalisation gained 1.80 per cent to close the week at 105,451.06 points and N64.303 trillion, respectively.

Also, all other indices closed higher apart from the insurance, AFR Bank Value, AFR Div Yield, MERI Value, consumer goods, energy, and industrial goods, which depreciated by 6.91 per cent, 0.08 per cent, 1.11 per cent, 0.17 per cent, 0.34 per cent, 0.34 per cent and 0.26 per cent, respectively, as the ASeM closed flat.

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