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Toshiba Aims To Solve Energy Problems In Africa

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Toshiba

By Modupe Gbadeyanka

Toshiba Corporation has disclosed that it is working hard to partner with African countries with a view to proffering solutions to the energy problems facing the continent.

Toshiba participated in the Tokyo International Conference on African Development 2016 in Nairobi, Kenya, which was held on August 27 and 28 at the Kenyatta International Convention Center.

The company showcased its ability to provide total energy solutions that ‘Make Energy”, “Transmit and Store Energy” and realize the “Smart Use of Energy”.

It said these ideas demonstrate its ideal positioning to support growing demand for power in Africa with world-class geothermal power generation equipment and high efficiency energy transmission and distribution (T&D) technologies.

It further said some of its company’s key next-generation products for Africa include smart meter systems that deliver enhanced energy network management and support for off-grid energy solutions – essential for providing stable energy in a region as diverse and challenging as Africa.

“Already, almost 60% of our sales are outside Japan,” said Takeshi Yokota, Toshiba’s Corporate Senior Vice President and Corporate Representative for Europe, the Middle East & Africa.

“We are growing our business by promoting expansion in emerging markets, and see Africa as very promising. We have done business in Africa for over 50 years, and established our first office here in 1967. Since 2014, our business here has been driven by Toshiba Africa (Pty) Ltd. We are very happy to participate in TICAD Japan Fair and to introduce Toshiba’s potential to a wide audience,” he added.

Toshiba now focuses on three business domains, energy, infrastructure and storage, all of which can support Africa’s move toward sustained growth. Most important as a driver for growth and improved wellbeing is the company’s energy business. The countries of Africa all target economic growth, and all must contend with demanding environmental conditions.

“Toshiba can contribute,” says Mr Yokota. “We have established technologies that can contribute to supply power stability and make the best use of natural resources for energy generation. Our corporate philosophy is ‘Committed to people, Committed to the Future’, and I have no doubt that Toshiba has a lot to offer in terms of contributing to people’s lives and a better future for Africa.”

Toshiba first entered Africa’s hydroelectric and thermal power plant market in the 1970s.

More recently, in 2013, the company supplied four 70-megawatt turbines and generators for Olkaria I and IV at the Olkaria Geothermal Power Plant, Kenya’s largest geothermal power complex, and they were successfully brought on line in February 2015.

Toshiba has an unrivaled record in the global geothermal power market. It delivered Japan’s first geothermal steam turbines and generators in 1966, and since then has delivered 53 turbines around the world, with a total capacity of 3,400 megawatts. As the source of approximately 23% of the world’s installed geothermal capacity, Toshiba is the global top supplier.

In East Africa, which can look to the vast geothermal potential of the Great Rift Valley, Toshiba is collaborating with numerous countries in the geothermal power business. In 2015, the company concluded MOUs with Ethiopian Electric Power and Tanzania Geothermal Development Company Limited, and on August 9 this year announced its most recent MOU, with Office Djiboutien de Développement de l’Energie Géothermique (ODDEG), the government organization responsible for developing Djibouti’s geothermal power capabilities.

Toshiba’s contributions in Africa also cover power transmission and distribution. In 2015, Toshiba Transmission & Distribution Systems (India) Pvt. Ltd. (TTDI), an Indian subsidiary of Toshiba, won a contract to supply Kenya Power & Lighting Company (KPLC) with approximately 4,000 transmission and distribution (T&D) transformers for the substation network that connects power plants to end-consumers in Nairobi and the surrounding region. After successfully completing this order, TTDI was awarded an additional US$34-million contract in April this year to supply approximately 8,000 more distribution transformers.

Looking to the future in Africa, Toyoaki Fujita, Business Development Executive for overseas operation in Toshiba’s Energy Systems and Solutions Company, had the following comment: “All the data points to rapid economic growth over the next 30 years boosting African energy demand 1.7 times. Meeting the challenges of growth requires comprehensive solutions, and that is where Toshiba can contribute. As a company that can “Make Energy”, “Transmit and Store Energy” and support “Smart Use of Energy”, we can help to build smarter energy networks and support efficient transmission and use.”

At Japan Fair, Toshiba showed how energy transmission and use can be enhanced by its Advanced Metering Infrastructure (AMI) Systems, which has won the lion’s share of the global market, 35%. The system can be utilized with smart grid technologies to build efficient and effective transmission and distribution networks. The exhibition will also include H2One, Toshiba’s CO2-free off-grid energy solution system, a fuel-cell in a container, which can easily be installed in off grid areas and that uses renewable energy sources, such as solar and wind, plus water, to deliver a stable supply in areas that are isolated and lack electricity.

Mr Fujita added, “Our rich experience allows us to support Africa’s growing demand for clean energy with our latest and eco-friendly solutions, like H2One. The MOU we have agreed in the geothermal business also include provision for training local people, to ensure sustainability over the long term. Looking at everything we can do, I am confident that Toshiba can be Africa’s friendly partner in building a better future.”

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 dipo.olowookere@businesspost.ng

Economy

FrieslandCampina, Afriland Properties Weaken NASD Index by 0.24%

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NASD Unlisted Securities Index

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.24 per cent on Friday, April 25 after the duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc landed on the losers’ table.

FrieslandCampina Wamco Nigeria Plc depreciated by N2.58 to sell at N35.37 per unit compared with the previous day’s N37.95 per unit, and Afriland Properties Plc lost 2 Kobo to close at N17.78 per share versus Thursday’s closing value of N17.80 per share.

However, Geo-Fluids Plc appreciated by 10 Kobo during the trading day to sell for N1.80 per unit, in contrast to the preceding session’s N1.70 per unit. The rise in the price of the stock could not prevent the fall of the bourse yesterday.

Consequently, the market capitalisation of the trading platform went down by N4.64 billion to N1.914 trillion from N1.918 trillion and the NASD Unlisted Security Index (NSI) declined by 7.92 points to 3,269.06 points from 3,276.98 points.

The final trading session of the week ended with a surge of 1,695.8 per cent in the volume of securities transacted to 3.7 billion units from the 206.2 milion units transacted in the previous trading day.

Equally, the value of transactions jumped by 2,592.6 per cent to N9.5 billion from N354.1 million on Thursday, and the number of deals decreased by 47.4 per cent to 20 deals from the 38 deals recorded a day earlier.

Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units sold for N520.9 million, followed by Geo-Fluids Plc with 259.3 million units worth N456.1 million, and Okitipupa Plc with 153.6 million units valued at N4.9 billion.

Also, Okitipupa Plc remained the most active stock by value on a year-to-date basis with 153.6 million units valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 15.6 million units worth N598.5 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.

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Nigeria’s Stock Market Gives up 0.30% Friday

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By Dipo Olowookere

A 0.30 per cent fall was recorded by the Nigerian Exchange (NGX) Limited on Friday as a result of profit-taking in the industrial goods sector.

This was mainly caused by sell-offs in Dangote Cement Plc, which released its financial statements for the first quarter of 2025 yesterday.

The cement maker lost 10.00 per cent during the session to trade at N432.00, Regency Alliance lost 8.06 per cent to close at 57 Kobo, VFD Group depreciated by 7.57 per cent to N17.10, Chams declined by 7.27 per cent to N2.04, and Sovereign Trust Insurance crashed by 6.12 per cent to 92 Kobo.

Conversely, International Breweries, Legend Internet, and Ikeja Hotel gained 10.00 per cent each to sell for N7.70, N6.82, and N12.10 apiece, Vitafoam Nigeria surged by 9.93 per cent to N44.85, and Eterna rose by 9.92 per cent to N39.90.

The industrial goods index was down by 4.73 per cent on Friday, as the others finished in green territory.

The consumer goods space rose by 2.21 per cent, the banking sector appreciated by 1.55 per cent, the insurance counter expanded by 1.50 per cent, the energy sector increased by 0.07 per cent, and the commodity industry went up by 0.04 per cent.

At the close of transactions, the All-Share Index (ASI) went down by 321.21 points to 105,753.05 points from 106,074.26 points and the market capitalisation shrank by N202 billion to N66.465 trillion from N66.667 trillion.

The level of activity increased yesterday as the trading volume, value, and number of deals grew by 30.40 per cent, 94.23 per cent, and 17.64 per cent, respectively.

This was because investors transacted 428.1 million shares worth N20.2 billion in 14,284 deals compared with the 328.3 million shares valued at N10.4 billion in traded in 12,142 deals a day earlier.

GTCO led the activity chart with 60.7 million equities sold for N3.8 billion, Fidelity Bank traded 41.4 million stocks worth N829.3 million, Access Holdings exchanged 40.6 million shares valued at N968.3 million, MTN Nigeria sold 33.0 million equities for N8.2 billion, and Zenith Bank transacted 22.9 million stocks worth N1.1 billion.

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Economy

Naira Now N1,599/$1 at Official Market, N1,605/$1 at Black Market

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Naira-Yuan Currency Swap Deal

By Adedapo Adesanya

The Naira extended its gains against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, April 25 by 0.22 per cent or N3.59 to sell for N1,599.42/$1 compared with the N1,603.01/$1 it was traded in the previous session.

The Nigerian currency also improved its value against the Euro in the official market by N1.36 to close at N1,818.53/€1 compared with Thursday’s closing price of N1,819.89/€1.

However, the domestic currency depreciated against the Pound Sterling in the same market segment yesterday by N1.90 to wrap the session at N2,130.44/£1 versus the preceding session’s rate of N2,128.50/£1.

At the black market segment, the Naira appreciated against the greenback on Friday by N2 to quote at N1,605/$1, in contrast to the previous day’s value of N1,607/$1.

In the cryptocurrency market, a possible regulatory progress about digital assets in the US spurred buying interest among investors during the trading session.

The chairman of the US Securities and Exchange Commission, Mr Paul Atkins, was at a crypto roundtable on Friday and he devoted his inaugural speech to assuring the industry that he will continue to remake securities policy to favor digital assets innovation.

The agency and industry have been awaiting congressional action to establish crypto market-structure oversight that will likely set guardrails, and Atkins told an audience at the SEC’s Washington headquarters that the regulator will work toward delivering “a rational, fit-for-purpose framework” for crypto.

Litecoin (LTC) rose by 3.0 per cent to $87.24, Dogecoin (DOGE) grew by 2.7 per cent to $0.1862, Bitcoin (BTC) increased by 1.3 per cent to $94,687.84, Ethereum (ETH) jumped by 1.2 per cent to $1,797.51, Cardano (ADA) improved by 0.9 per cent to $0.7235, and Ripple (XRP) gained 0.6 per cent to close at $2.20.

On the flip side, Solana (SOL) depreciated by 0.9 per cent to $151.64, and Binance Coin (BNB) lost 0.8 per cent to sell for $602.89, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.

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