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29 Jul 2019

Africa

AIIM fund raises USD320-million from Africa, Asia and the European Union

African Infrastructure Investment Managers (AIIM), has announced the final close of its flagship pan-African infrastructure fund, AIIF3. The fund raised USD320-million from a diverse investor base across Africa, Europe and Asia. In a company statement, AIIM explained that since inception, the organisation has raised cumulative commitments of USD2.2-billion over seven funds and executed more than 56 transactions in target pan-African markets. With a focus on diversification and predictable cash flows, AIIF3 targets significant influence investments across the power, transport and midstream energy sectors in sub-Saharan Africa.

Source: ESI Africa

Angola

Angola auctions nine oil blocks in Namibe Basin

The Angolan government will auction nine oil blocks in the waters of the Namibe Basin, the Minister of Mineral Resources and Oil Diamantino Azevedo announced at the opening session of the ministry’s Third Advisory Council under the motto “Restructuring of the mineral and oil resources sector: A commitment to the socio-economic development of the country.” According to the minister and the schedule of the meeting, the general strategy of awarding oil concessions for the period 2019-2025 includes auctioning off nine oil blocks in that basin, and the official announcement of the auction for these blocks should take place in October this year.

Source: Macau Hub

Angola

Italy’s ENI group discovers more oil in Angola

The drilling of Agogo 2, the first test well of the Agogo field, in Block 15/06, in the Angolan sea, led to the conclusion that the field contains 650 million barrels of oil, Italian group ENI said on in Milan. Agogo 2 was drilled by the Poseidon drillship, 3 kilometres northwest of the Agogo 1 discovery well, approximately 180 kilometres off the coast and 23 kilometres from the N’Goma Floating Production, Storage and Offloading (FPSO) unit. Agogo 2 data shows a production capacity in excess of 15,000 barrels of oil per day. Block 15/06 is operated by ENI, with a 36.8421% stake, Sonangol P&P, which holds 36.8421%, and SSI Fifteen Limited, which holds the remaining 26.3158%.

Source: Macau Hub

Benin

Total set to develop LNG import terminal in Benin Republic

French energy major Total, the Republic of Benin, and its national power utility Société Béninoise d’Energie Electrique (SBEE) have signed a gas supply agreement and an agreement to develop a floating LNG import terminal in the country. Total said that the agreements entailed the development of an LNG import terminal and the supply of up to 0,5 mtpa of regasified LNG from Total’s global portfolio to Benin for 15 years, starting in 2021. The French company will develop and operate the regasification infrastructure that will comprise a floating storage and regasification unit (FSRU) located offshore Benin and an offshore pipeline connection to the existing and planned power plants in Maria Gléta.

Source: Energy Mix Report

COMESA

COMESA secures USD300-million for economic and regional development

The African Development Bank (AfDB) re-affirmed its intention to boost economic and regional development on the African continent when its Board of Directors approved a USD300-million support facility for the Eastern and Southern African Trade & Development Bank (TDB). In a statement, the AfDB noted that the Common Market for Eastern and Southern Africa (COMESA) regional trade and project finance package consists of a composite funded trade finance and project finance facility, and an unfunded trade finance risk participation agreement (RPA). This comes on the heels of the African Continental Free Trade Area (AfCFTA) agreement, which came into force in July 2019; and the Bank’s partnership framework featuring African DFIs, including the TDB.

Sources: ESI Africa

Ghana

Cardinal Resources eyes improving cost structures in Ghana

ASX/TSX-listed Cardinal Resources is expected to finalise the Feasibility Study for its Namdini project in Ghana in the September quarter. This will be done with test work being incorporated into the study potentially improving gold recoveries, operational and capital costs. "The probability of us improving our economics is high," CE and MD Archie Koimtsidis said on the sidelines of the Noosa Mining & Exploration Investor Conference. Political stability in Ghana has made the country one of the most attractive new mining investment areas in Africa. Ghana is now Africa’s largest gold producer, having recently overtaken South Africa.

Source: Mining Review Africa

Guinea

AfDB opens new Country Office for Guinea

Guinean Head of State Alpha Condé and President of the African Development Bank Group (AfDB) Dr. Akinwumi A. Adesina have officially opened the new Country Office for Guinea. "The opening of the country office is a crucial step in the cooperation between the Republic of Guinea and the African Development Bank," the Bank president said, noting that the Bank’s new Guinean country office is one of the finest in Africa. He said the office would be used to enhance the quality of the Bank’s cooperation with Guinea and to promote stronger coordination with other development partners working in Guinea. The operational decentralisation policy, one of President Adesina's major reforms, aims to bring the Bank's activities and services closer to its customers.

Source: Africa Business Communities

Ivory Coast

IFC arranges finance package for Azito Phase 4 power plant in Côte d’Ivoire

IFC, a member of the World Bank Group, Globeleq Africa Holdings Limited (Globeleq), a leading independent power producer in Africa, and Industrial Promotion Services (West Africa) (IPS (WA), a member of the Aga Khan Fund for Economic Development (AKFED), committed the financing for the expansion of the Azito thermal power plant (Azito Phase 4) in Côte d’Ivoire. The plant’s expansion will help increase the supply of reliable, affordable power in Côte d’Ivoire, where, as of 2017, less than 66% of the population had access to electricity. Azito Phase 4 will add to the existing plant new gas and steam turbines (for an additional 253 MW).

Source: Energy Mix Report

Kenya

Eni sells a 13.75% share in the blocks L11A, L11B & L12, off Kenya to Qatar Petroleum

Eni and Qatar Petroleum (QP) signed an agreement that will see the Qatari national oil company acquire a 13.75% share in the exploration blocks L11A, L11B and L12, in deep offshore Kenya. The proposed deal is pending subject to the approval of the Kenyan authorities. Blocks L11A, L11B and L12 are located in water depths ranging between 1,000 and 2,700 metres, cover a total surface of about 15,000 square kilometres and hold high exploration potential. Eni and Total currently hold 55% and 45% interest share in the blocks respectively, with Eni acting as the operator. QP would acquire 25% interest share in each of the blocks, of which 13.75% from Eni and the remaining from Total.

Source: Energy Mix Report

Mali

Mali’s efforts to improve access to renewable energy gets a boost

The World Bank’s board of executive directors approved a USD22.7-million financing to support Mali’s efforts to promote the deployment of renewable energy in rural areas. The financing package is composed of a USD20-million equivalent credit from the International Development Association (IDA) and a USD2.7-million grant from the Japan Policy and Human Resources Development Fund. This represents an additional financing to the Mali Rural Electrification Hybrid System Project, which was approved by the board in December 2013. The grant will also support the installation of solar home systems in households not living within the vicinity of a mini-grid, the deployment of solar lanterns, and the delivery of communication and awareness-raising campaigns in targeted areas.

Source: ESI Africa

Mali

Norway signs agreement with Mali on Ségou solar project

An agreement has recently been signed between the Malian and Norwegian governments to start construction work on the Segou solar photovoltaic power plant in southern Mali. It will have a 33 MW capacity. The Ségou solar project is about to enter its construction phase. An accord has been signed between the Malian Prime Minister, Boubou Cissé and the Norwegian Prime Minister, Erna Solberg. The project to build a solar photovoltaic power plant in Ségou is supported by the Norwegian government. In fact, a Norwegian independent power producer (IPP) is leading the consortium that won the tender for the construction of this plant, which will be located 240 km from Bamako, the capital of Mali.

Source: Energy Mix Report

Mozambique

Mozambican government approves construction of Beluluane power plant

The Mozambican government in Maputo approved the terms and conditions of a 30-year concession to the Beluluane Gas Company, SA for the Beluluane Thermoelectric project with a total installed capacity of up to 2,000 MW. The Beluluane Gas Company will also build a gas pipeline system between the port of Matola and the Beluluane Thermoelectric Power Station in Maputo province, and will be responsible for the production and sale of electricity in Mozambique and abroad. The plant, which will be built over five years, requires an investment of USD2.8-billion.

Source: Macau Hub

Nigeria

Nigeria reaches out to Siemens to resolve its energy challenges

The federal government of Nigeria has signed an agreement with Siemens for the implementation of the Nigeria Electrification Roadmap. The goal of the Roadmap is to resolve existing challenges in the power sector and expand the capacity for the future power needs of the country. At present, the country’s power system is suffering from an imbalance between power generation and end-user consumption. Despite more than 13,000MW of power generation capacity in the country, only an average of 3,400MW reliably reaches consumers. The inadequate power supply results in regular blackouts and has stunted Nigeria’s economic development.

Source: ESI Africa

Rwanda

BBOXX introduces BBOXX Cook pilot in Rwanda

BBOXX Cook will provide smart, clean and affordable cooking services for both urban and rural areas through Liquefied Petroleum Gas (LPG) and biogas solutions. The initiative is first being introduced in Rwanda as a pilot, expanding its reach to urban customers. BOXX is a next generation utility, powering growth and transforming lives in developing countries. It marks a major stride towards tackling the global clean cooking crisis and reducing greenhouse gas emissions. The initiative launch ceremony was attended by the Permanent Secretary at the Ministry of Infrastructure Eng. Patricia Ingabire and other distinguished guests.

Source: Energy Mix Report

Senegal

GreeenTec Capital Partners signs deal with DER to tackle investment challenges for entrepreneurs

The Senegalese General Delegation for the Acceleration of Entrepreneurship for Women and Young People (DER), under the auspices of the Presidency of the Republic of Senegal, has signed a partnership agreement with GreenTec Capital Partners, the premier German investor into African Start-ups. The purpose of the agreement is the foundation of the first regional Venture Building Center in Africa to tackle investment challenges by providing investment tickets between EUR10,000 and EUR500,000 for entrepreneurs at the cusp of their growth stages. The needs of Start-ups, MSMEs and SMEs in Africa revolve around a balanced combination of financing and operational support.

Source: Africa Business Communities

Senegal

AfDB helps Senegal turn on the taps

The African Development Bank (AfDB) has approved a loan of EUR87-million to the country’s government to greatly improve access to water in countryside areas. The move will have a direct impact on 300,000 people and could help to create 28,000 decent jobs while boosting rural incomes. As part of the project to improve the water supply for the development of value chains – known as PROVALE-CV –  the AfDB will provide EUR60.8-million. A further EUR26.8-million will come from the ‘Africa Growing Together Fund’, a USD2-billion facility sponsored by the People’s Bank of China and administered by the AfDB. Developed with the support of the Bank, it is the first project under Senegal’s small-scale Local Irrigation National Development Programme.

Source: Africa Business Communities

South Sudan

South Sudan launches mobile money transfer service

South Sudan has launched a mobile phone-based money transfer dubbed M-Gurush. The new mobile phone-based money transfer service has been launched through a partnership between Trinity Technologies and Zain which will allow users to deposit, withdraw, transfer money and pay for goods and services across Sudan. South Sudan’s information minister, Michael Makuei said the initiative will create job opportunities for the youth in rural and urban areas. “M-Gurush will create job opportunities to young people both in the rural and urban areas,” he said. Deputy Vice President of M-Gurush Joseph Arinaibwe said the service will enhance faster transactions in the economy and create job opportunities for people.

Source: Africa Business Communities

Equatorial Guinea

Noble Energy chooses Tenaris for Alen gas project in Equatorial Guinea

Tenaris was awarded the offshore export pipeline for the Alen Gas Monetization Project in Equatorial Guinea, a key component of Noble Energy’s growth strategy in West Africa. The 70 km pipeline will be constructed to transport natural gas from the Alen offshore platform to existing onshore processing facilities on Bioko Island. The project aims at transforming the Alen offshore platform into a hub for the development of future Gulf of Guinea gas fields. Tenaris will produce a total of 21,000 metric tonnes of line pipe at its Confab welded pipe mill located in Pindamonhangaba, Brazil.

Source: Africa Business Communities

Nigeria

Nigeria, Morocco to deliver gas pipeline in record time – NNPC

The Nigerian National Petroleum Corporation (NNPC) and the Kingdom of Morocco have pledged to deliver on the gas pipeline bilateral agreement between Nigeria and the North African nation in record time. The agreements include a Pipeline Cooperation Agreement (PCA)  for the Nigeria-Morocco Gas Pipeline; an MoU to develop a chemical plant in Nigeria for production of ammonia and its derivatives and thirdly, an agricultural cooperation agreement on vocational training and technical supervision. The PCA will particularly facilitate the establishment of a gas pipeline to supply feedstock gas from Nigeria to Morocco, across the West African sub-region and all the way to Europe.

Source: Energy Mix Report

Zimbabwe

Zimbabwe grants licence for new 100MW solar farm

The Zimbabwe Energy Regulatory Authority (ZERA) has granted Matshela Energy (Private) Limited a licence to build, own, operate and maintain a 100-MW solar farm in Gwanda District, local news portal Pindula reported. The owner of Matshela Energy is Matshela Koko, the former CEO of South African power utility Eskom. The solar farm is called Matshela Energy – Gwanda Timber Farm Solar Power Plant. The generation licence expires in July 2044.

Source: Energy Mix Report