By Adedapo Adesanya
The annual African Energy Week (AEW) will be taking place on October 18 -22, 2022, in Cape Town, South Africa, the organisers have announced.
The African Energy Chamber (AEC), which organises the event, will bring energy leaders and global stakeholders together for a week of intense dialogue on the African energy sector, with a strong pursuit of making energy poverty history by 2030.
In pursuit of an electrified economy, AEW 2022 will introduce critical topics that cover the entire energy value chain.
Regarding the upstream sector, there will be a focus on exploration, licensing rounds, and remaining competition for investment in 2022 and beyond.
With emerging frontier markets such as Somalia, Kenya, Namibia, Uganda and Côte d’Ivoire gaining increased attention from regional and international players, AEW 2022 will emphasize the potential and current opportunities across Africa’s emerging and mature upstream markets.
On the midstream front, AEW 2022 will offer critical insight into new and existing projects – such as the $6 billion African Renaissance Pipeline Project and the proposed 1,800km Tanzania-Uganda Natural Gas Pipeline Project – introducing lucrative opportunities to investors.
With the scaling up of refinery construction underway across the continent, the conference is committed to increasing investment and enhancing production across key African markets.
The organisers noted that by discussing the challenges and opportunities present across the downstream sector, African stakeholders will collaboratively discuss the future of the African energy industry.
On his part, Mr NJ Ayuk, Executive Chairman of the AEC said, “In 2021, they said it could not be done in Cape Town and we all must go to Dubai.
“With massive support from the City of Cape Town, the government of South Africa IOC’s and NOC’s and alternative energy companies, we demonstrated that Africa is ready and capable to hold a continent-wide energy event in Africa and we held the largest event on the continent. Even in the midst of the pandemic, AEW took place, ushering in a new era of safe, accessible, and industry-focused events.
“This year will be huge for the African energy industry. We expect a range of investments to be made and developments to take off that will drive the continent’s economic advancement.
“During this year’s edition of AEW, an emphasis will be placed on finance, natural gas, electrification, hydrogen, upstream and a just transition as we believe these sectors have a specific role to play in Africa.
“By developing our gas resources, Africa can meet the growing demand for energy while reducing emissions. From AEW 2022, we will be going to COP27 to meet with global leaders and discuss African energy – from Cape to Cairo.”
The organisers noted that as the continent continues to deal with reduced funding for hydrocarbon projects, AEW 2022 will offer new insights into how Africa’s oil and gas projects can raise capital in a post-COVID-19, energy transition context.
Accordingly, panel discussions and investor forums will place a focus on finance, enabling environments, and the role that African Energy Banks will play in financing the future of the industry. By introducing African stakeholders to innovative capital raising, AEW 2022 is committed to the growth of African oil and gas.
Regarding gas, the Chamber noted that Africa is not only rich with resources but opportunities. Markets such as Nigeria, Mozambique, Mauritania, Senegal, Tanzania, Equatorial Guinea, the Republic of the Congo, and Ghana have significant untapped resources.
Already, there has been an influx in investment and development within the gas sector, and yet a range of opportunities remain, particularly within the gas-to-power and Liquefied Natural Gas space.
AEW 2022, therefore, has placed a strong emphasis on the role that gas will play in electrifying Africa, driving socio-economic growth and industrialization for years to come. By introducing project profiles, highlighting key discoveries, and emphasizing how gas will drive a just transition in Africa, AEW 2022 has placed gas at the centre of its programme agenda.
The recent move by the European Union to label certain gas projects as green is likely to usher in a new wave of investment in Africa and AEW 2022 will be the place where deals in this area will be made.
The development of resources such as gas, hydrogen and renewables according to the organisers will ensure Africa adheres to global climate mitigation targets while at the same time driving economic growth.
During the summit, speakers will highlight key opportunities across Africa’s renewable energy space, providing insight into potential markets such as the Congo, Mozambique, the Gambia, Kenya, Angola, and Libya, all rich with renewable resources.
Additionally, the programme will emphasize the role that hydrogen will play in Africa by detailing high potential markets and projects such as Hive Hydrogen’s green ammonia plant in South Africa and the $9.4 billion green hydrogen project in Namibia.
100 million People Displaced in Nigeria, Afghanistan, Ukraine, Others—UNHCR
By Adedapo Adesanya
The United Nations Refugee Agency (UNHCR) has disclosed that the Ukraine war and other conflicts have forced about 100 million people to flee to safety.
According to UNHCROpens in a new window report, the number of forcibly displaced people worldwide rose to 90 million by the end of 2021, propelled by new waves of violence or protracted conflict in countries including Ethiopia, Burkina Faso, Myanmar, Nigeria, Afghanistan and the Democratic Republic of the Congo.
So far in 2022, the war in Ukraine has displaced 8 million within the country this year and forced around 6 million to leave the nation.
Speaking on this, the UN High Commissioner for Refugees, Mr Filippo Grandi said, “One hundred million is a stark figure — sobering and alarming in equal measure. It’s a record that should never have been set.
“This must serve as a wake-up call to resolve and prevent destructive conflicts, end persecution, and address the underlying causes that force innocent people to flee their homes.”
By calculation, the 100 million people forcibly displaced worldwide represents one per cent of the global population and is equivalent to the 14th most populous country in the world.
The number includes refugees and asylum seekers as well as the 53.2 million people displaced inside their borders by conflict.
Speaking further, Mr Grandi added, “The international response to people fleeing war in Ukraine has been overwhelmingly positive.
“Compassion is alive, and we need a similar mobilization for all crises around the world. But ultimately, humanitarian aid is a palliative, not a cure.”
He then called for peace and stability to ensure that the number doesn’t grow any further in the coming years.
“To reverse this trend, the only answer is peace and stability so that innocent people are not forced to gamble between acute danger at home or precarious flight and exile.”
Last week, the International Organization for Migration (IOM) informed that a record 59.1 million people were displaced within their homelands last year, four million more than in 2020.
Conflict and violence triggered 14.4 million internal displacements in 2021, a nearly 50 per cent increase over the previous year.
Meanwhile, weather-related events such as floods, storms and cyclones resulted in some 23.7 million internal displacements in 2021, mainly in the Asia-Pacific region.
Russia Reaffirms Readiness to Support Mali
By Kestér Kenn Klomegâh
After withdrawing from the Joint Military Force of the G5-Sahel group which the United Nations described as “unfortunate” and “regrettable” middle of May, Malian Foreign Minister, Abdoulaye Diop, made a snapshot visit, for the second time under the new military administration to Moscow, intended to review various aspects of strategic partnership deals with Foreign Minister Sergei Lavrov.
“We paid special attention to the practical aspects of organizing deliveries from Russia of wheat, mineral fertilizers and petroleum products that are so much needed by the people of Mali today in conditions of illegitimate Western sanctions,” Lavrov said at a press conference after talks with Diop in Moscow.
The sound pace of military and military-technical contacts between the two countries was noted during the talks, according to Lavrov, and thanked his Malian counterpart for support for Russia’s resolutions at the latest session of the UN General Assembly. Lavrov made to explicit reference to the meeting of the UN Security Council the Western countries that consistently tried to “put their blame at Russia’s door” and to shirk responsibility for the food crisis.
“It goes without saying that we discussed the situation in Ukraine and around it, including the meeting of the UN Security Council devoted to world food security issues, where the Western countries tried to put their own blame at somebody else’s door. They argued that the crisis, which by and large is a result of their own efforts, allegedly stems from the crisis in Ukraine. Of course, they blamed it entirely on Russia,” Lavrov said.
Russia reaffirms its readiness to render Mali support in raising the fighting efficiency of its armed forces. “We reaffirmed Russia’s readiness as a permanent member of the UN Security Council to further contribute to normalizing the situation in Mali, render Bamako comprehensive support on a bilateral basis, in particular, in the sphere of raising the combat efficiency of the Malian armed forces, training troops and law-enforcement personnel,” Russia’s top diplomat said.
France’s decision together with Western allies to end the anti-insurgent Operation Barkhane and the European special forces mission Takuba does not contribute to restoring security in Mali and the entire Sahel region. Reports say France has approximately 5,100 troops in the region under Operation Barkhane, which spans five countries in the Sahel – Burkina Faso, Chad, Mali, Mauritania and Niger.
With the final exit and the vacuum created by France, Russia now sees Mali as an excellent conduit to penetrate into the Sahel by pushing the much-criticized Wagner Group that organizes private military for countries in conflict. It is aggressively targeting the Sahel region, an elongated landlocked territory located between north Africa (Maghreb) and West Africa region, and also stretches from the Atlantic Ocean to the Red Sea.
“There is an obvious danger of the emergence of enclaves of power vacuum where militants of various outlawed armed gangs will feel free at hand and they have already prepared for such acts. This threatens the country’s territorial integrity and we repeatedly told our French counterparts about that,” Russia’s top diplomat said.
On March 2 at the United Nations General Assembly, African representatives and their votes were considered very interesting, and have geopolitical implications for study and analysis. Some 17 African countries abstained from the vote at the UN General Assembly to deplore the Russian invasion of Ukraine while some other 28 countries in the continent voted in favour. Mali was among those that abstained from vote. Eritrea was the only African country that voted against the resolution. It opposes all forms of unilateral sanction as illegal and counterproductive.
“All our initiatives were supported by Mali. We agreed to enhance coordination on the UN platform and in other international organizations. We are determined to work for this in earnest, including in the recently created Group of Friends in Defense of the Charter of the United Nations,” Lavrov assured.
During his first official visit in November 2021 to Moscow, Abdoulaye Diop and Sergei Lavrov, in fact, focused on increasing bilateral cooperation in economic sectors. But particularly significant was Russia’s military assistance to strengthen the position of the new military government and to fight rising terrorism in the Sahel region.
As developments explicitly show, Mali already stands in isolation there as the Economic Community of West African States (ECOWAS), the African Union, the United Nations, and the bilateral and multilateral partners endorse and support the implementation of sanctions and other strict measures to ensure a peaceful return to constitutional and democratic government in Mali.
Mali, a landlocked West African state with an impoverished population, faces increasing isolation from the international community over the political power grab. Even as the African Union (AU), the continental organization, and the Economic Community of West African States (ECOWAS), the regional bloc, both suspended the membership of Mali following military coups in August 2020 and May 2021, the ruling military officials are still holding onto political power by delaying the proposed elections in February 2022.
The African Union, Economic Community of West African States (ECOWAS) and foreign organizations such as the European Union (EU) and the United Nations (UN) have requested a quick transition to a civilian government. They further urged that efforts are taken to resolve outstanding issues relating to sustainable development and observing strictly principles of democracy in the Republic of Mali in West Africa.
Moscow is still planning to hold the second Russia-African summit. The “special military operation” approved by both the Federation Council and the State Duma (legislative chambers) to “demilitarize and denazify” the former Soviet republic of Ukraine has pushed the United States and Canada, European Union members and many other external countries to impose sanctions against Russia.
AfDB Board Okays $1.5bn to Avert Food Crisis in Africa
By Adedapo Adesanya
The Board of Directors of the African Development Bank Groups (AfDB) on Friday approved a $1.5 billion facility to help African countries avert a looming food crisis.
With the disruption of food supplies arising from the Russia-Ukraine war, Africa now faces a shortage of at least 30 million metric tons of food, especially wheat, maize, and soybeans imported from both countries.
The Abidjan-based bank, among other institutions, has disclosed that African farmers urgently need high-quality seeds and inputs before the planting season begins in May to immediately boost food supplies.
The Abidjan based bank’s $1.5 billion African Emergency Food Production Facility is an unprecedented comprehensive initiative to support smallholder farmers in filling the food shortfall. It will provide 20 million African smallholder farmers with certified seeds.
Also, it will increase access to agricultural fertilizers and enable them to rapidly produce 38 million tons of food, which is about a $12 billion increase in food production in just two years.
The President of AfDB Group, Mr Akinwumi Adesina, said: “Food aid cannot feed Africa. Africa does not need bowls in hand. Africa needs seeds in the ground, and mechanical harvesters to harvest bountiful food produced locally. Africa will feed itself with pride for there is no dignity in begging for food.”
Also, the Vice President of AfDB for Agriculture, Human and Social Development, Ms Beth Dunford, said, “The Africa Emergency Food Production Facility builds on lessons learned from the African Development Bank’s Feed Africa Response to COVID-19 programme. That programme has provided a strategic roadmap to support Africa’s agriculture sector and safeguard food security against the pandemic’s impact.”
The facility has benefited from stakeholder consultations, including those with fertilizer producers and separately with African Union agriculture and finance ministers earlier this month.
The ministers agreed to implement reforms to address the systemic hurdles that prevent modern input markets from performing effectively.
The bank’s $1.5 billion strategies will lead to the production of 11 million tons of wheat; 18 million tons of maize; 6 million tons of rice; and 2.5 million tons of soybeans.
The plan is to provide 20 million farmers with certified seeds, fertilizer, and extension services. It will also support market growth and post-harvest management.
Also, the bank will provide fertilizer to smallholder farmers across Africa over the next four farming seasons, using its convening influence with major fertilizer manufacturers, loan guarantees, and other financial instruments.
The facility will also create a platform to advocate for critical policy reforms to solve the structural issues that impede farmers from receiving modern inputs. This includes strengthening national institutions overseeing input markets.
It has a structure for working with multilateral development partners. This will ensure rapid alignment and implementation, enhanced reach, and effective impact and will increase technical preparedness and responsiveness.
In addition, it includes short, medium, and long-term measures to address both the urgent food crisis and the long-term sustainability and resilience of Africa’s food systems.
Latest News on Business Post
- Binance Gets Digital Asset Service Provider Licence in France May 24, 2022
- 100 million People Displaced in Nigeria, Afghanistan, Ukraine, Others—UNHCR May 24, 2022
- Facility Managers in Nigeria Empower 25 Technical School Students May 24, 2022
- Ecobank Clinches ‘Excellence in Fintech-Banking Relationships’ Award May 24, 2022
- Russia Reaffirms Readiness to Support Mali May 24, 2022
- We’ll Sustain High Level of Corporate Governance—Seplat May 24, 2022
- Health Insurance for all Nigerians by 2030 Now Realistic—NHIA May 24, 2022
- JUST IN: CBN Raises Benchmark Interest Rate to 13% May 24, 2022
- Famous Black and White Logos: Features and Benefits May 24, 2022
- LandWey to Deliver over 1000 Houses to Nigerians Soon May 24, 2022