Economy
African Utility Week to Showcase Continent’s Business Openings

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).
Economy
Nigeria Gets Fresh $500m World Bank Loan for Small Businesses
By Adedapo Adesanya
The World Bank has approved a $500 million facility for Nigeria to expand longer-term lending to small and medium sized businesses.
Approved under the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) project, the package comprises a $400 million International Bank for Reconstruction and Development (IBRD) loan and a $100 million International Development Association (IDA) credit. Both IBRD and IDA are members of the World Bank Group.
The scheme will be implemented by the Development Bank of Nigeria (DBN), with credit guarantees provided through DBN’s subsidiary, Impact Credit Guarantee Limited (ICGL).
FINCLUDE is designed to address constraints faced by micro, small, and medium enterprises (MSMEs) in Nigeria which despite accounting for most businesses and nearly half of gross domestic product (GDP) face long-standing barriers to formal finance.
Fewer than one in 20 MSMEs have access to bank credit; loans are often short-term and costly; and collateral requirements exclude many viable firms. Women-led enterprises, which make up a substantial portion of MSMEs, are disproportionately affected, facing higher rejection rates and limited tailored products. Agribusinesses, central to food security and rural livelihoods, similarly struggle to obtain more extended‑tenor financing for equipment, processing, storage, and logistics.
However, FINCLUDE seeks to address these constraints by expanding access to affordable, longer-term finance and tailored solutions for segments with the most significant development impact.
Speaking on this, the World Bank Country Director for Nigeria, Mr Mathew Verghis, said, “FINCLUDE is about jobs, opportunity, and inclusion. By expanding access to finance for viable MSMEs—particularly women-led firms and agribusinesses—Nigeria can accelerate growth and deliver tangible benefits across communities nationwide.
“The project will make it easier for deserving small businesses to get the finance they need to grow and hire workers. With better support for lenders that practice inclusive finance and fairer, longer-term loans for entrepreneurs, we are backing the people who power Nigeria’s economy—especially women and those in agriculture.”
The FINCLUDE project will help to mobilise private investment and expand access to and usage of inclusive, innovative financial products for MSMEs nationwide.
Through DBN, the operation will strengthen the capacity of banks, including microfinance banks and non-bank financial institutions such as financial technologies (fintechs), to provide larger loans with more reasonable repayment periods, and—through ICGL—will scale partial credit guarantees so that lenders can extend credit to businesses they might otherwise consider too risky.
Targeted technical assistance will modernise loan appraisal by leveraging AI-enabled digital platforms to accelerate decision-making, improve data quality, strengthen impact measurement, and build capacity for both MSMEs and participating financial institutions.
According to the World Bank, a strong emphasis on inclusion will ensure that women-led businesses and agribusinesses benefit from these improvements.
Also commenting, Task Team Leader for FINCLUDE, Mrs Hadija Kamayo, said, “FINCLUDE will help to mobilize approximately $1.89 billion in private capital, expand debt financing to 250,000 MSMEs—including at least 150,000 women-led businesses and 100,000 agribusinesses—and issue up to $800 million in guarantees to catalyse lending.
“By extending the average maturity of MSME loans to about three years, it will help firms invest in equipment, factories, staff, and productivity, translating finance into jobs and growth.”
Economy
Nigerian Stocks Close 1.13% Higher to Remain in Bulls’ Territory
By Dipo Olowookere
The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.
Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.
Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.
But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.
Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.
As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.
A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.
Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.
Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.
Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.
Economy
FrieslandCampina, Two Others Erase N26bn from NASD OTC Bourse
By Adedapo Adesanya
Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.
The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.
FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.
On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.
During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.
The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
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