Category: COVER

Bringing Finance to African Energy Projects: AEC to Host Energy Players in Europe’s Financial Capital

Global investment in upstream oil and gas is set to reach $570 billion in 2024, showing a 7% rise compared to 2023 expenditure. Of this, 33% is expected to be directed towards frontier fields, presenting a strategic opportunity for undeveloped oil and gas markets in Africa.

With lack of investment representing one of the biggest challenges to project development across the continent, the African Energy Chamber (AEC) will host a networking reception on July 11 in London – Europe’s financial capital.

Taking place at the Four Seasons Hotel London at Park Lane from 17:00 to 21:00, the reception bridges the gap between European financiers and African energy projects, promoting synergies, deals and future collaborations.

Despite holding some of the largest untapped oil and gas resources worldwide, Africa is faced with an energy crisis, with 600 million people currently living without access to electricity and 900 million people without access to clean cooking solutions.

The African Development Bank estimates that to address this crisis, the continent requires between $40 billion and $70 billion in annual investment.

Presently, Africa receives on average $35 billion in global financing for fossil fuels and clean energy projects, with merely 5% of global energy investment directed towards the continent.This showcases a clear investment gap and a strategic opportunity for European funders and project developers.

With over 125 billion barrels of proven crude oil, 620 trillion cubic feet of natural gas and abundant opportunities in solar, wind and geothermal, Africa continues to attract investment from some of the world’s biggest players.

The continent’s greenfield upstream spending, for example, is projected to reach $37 billion by 2025 and $50 billion by 2050, with companies eager to unlock the full potential of undeveloped oil and gas. Specifically, a strong slate of London-based oil and gas firms are driving a wave of project developments across the continent.

These include energy major bp, who is developing Senegal and Mauritania’s inaugural LNG project – the Greater Tortue Ahmeyim (GTA) facility – and Mozambique’s Coral Sul FLNG project. GTA is on track for first production in 2024 while bp delivered first gas from Coral Sul in 2022, marking the first LNG cargo for the country.

Additionally, energy major Shell is making strides towards opening up the Orange Basin in Namibia. The company’s Graff-1 discovery in 2022 was play-opening and Shell has made an additional five discoveries since then. The company is investing 25% of its deepwater exploration budget in the country this year.

Additionally, independent hydrocarbon producer Perenco inaugurated the $50 million Batanga LPG plant in 2023 and is developing the $1 billion Cap Lopez LNG terminal in Gabon.

The company is also investing in shallow-water and marginal assets across the continent, acquiring Eni’s core assets in the Republic of the Congo in June 2023 for $300 million.

Oil and gas company Tullow Oil anticipated commercial oil production in Kenya in 2028 while transitional energy company Chariot oil and gas recently signed a gas commercialization agreement with Vivo Energy in Morocco.

These developments – all led by London-based companies – represent just some of the many underway across the continent.

The AEC Reception builds on these deals to promote new investment in African energy. Taking place in London – both Europe’s financial capital and its biggest stock market – the reception is all about connecting companies to opportunities.

The total value of companies listed on the London Stock Market reached $2.18 trillion in June 2024, highlighting a commercial and strategic opportunity for the reception and African energy projects.

The AEC London Reception takes place ahead of the continent’s largest energy event, the African Energy Week (AEW): Invest in African Energy conference, scheduled for November 4-8 in Cape Town.

Under a mandate to make energy poverty history by 2030, the event unites global investors and technology providers with African energy projects, with discussions tailored around unlocking high returns and generating mutually beneficial opportunities.

Participants at the AEC’s London Reception have the chance to gain exclusive insight into AEW: Invest in African Energy 2024 while engaging with a suite of African stakeholders

This year’s AEW: Invest in African Energy will host the African Energy Finance Summit – a platform that galvanizes financial support for African energy projects, while promoting deal-signing and partnerships.

Hosted in partnership with multilateral financial institution the African Export-Import Bank and global market intelligence firm S&P Global Commodity Insights, the summit brings capital to Africa with the aim of making energy poverty history by 2030.

Don’t miss the chance to be at the forefront of Africa’s energy transformation. Register for the AEC’s London Reception at https://energychamber.org/london-roadshow/ or contact register@aecweek.com.

“We are proud to offer the State of African Energy Outlook for download.The report emphasizes the pivotal role of knowledge and foresight in navigating the complex and dynamic energy landscape and equips stakeholders with the insights they need to make informed decisions in the year ahead.

As we venture into 2024 we are oon the brink of making substantial strides in overcoming energy poverty throughout Africa and moving towards a more sustainable energy future”-NJ Ayuk,Executive Chairman of the AEC.

SOURCE

AFRICA ENERGY CHAMBERS

June 26, 2024
Canon enters recycling system business with innovative technology, promoting circular economy with high-speed, accurate plastic sorting equipment capable of measuring even black plastic waste

DUBAI, United Arab Emirates, June 26, 2024/ — Canon Inc. (https://en.Canon-CNA.com/) announced today that it will launch new plastic sorting equipment with innovative material identification technology.

The equipment applies Raman spectroscopy technology to moving objects with a tracking mechanism to collectively detect the material types of plastic fragments with high accuracy, even when black plastic pieces are mixed with other colors, which has been conventionally challenging.

Today, the company will begin widely accepting orders from the market for the “TR Series” which includes the “TR-S1510.”

Currently, roughly 20%[1] of plastic waste generated in our daily lives is recycled as material for new products (material recycling), while the remainder is used as fuel or incinerated.

Recycled plastics have to maintain a certain degree of purity, which is why materials made of plastic waste, such as ABS[2] and polypropylene (PP), must be accurately identified.

However, black plastics, often used in home electronics or automobile upholstery, do not transmit or reflect visible light, making it difficult to identify their materials using conventional near-infrared spectroscopy[3]. Additionally, in order to accelerate plastic recycling, higher accuracy and productivity are required for sorting operations.

The new product employs a proprietary tracking Raman spectroscopic method to rapidly sort all plastic pieces regardless of their colours, including black, with high precision, thereby helping to improve the productivity of recycling plants. With the launch of this product, Canon marks its entry into the recycling system market in an aim to build a circular economy by maximizing material recycling.

The new product’s high-precision, high-speed sorting of plastic including black pieces is thanks to its unique DUBAI, United Arab Emirates, June 26, 2024/ — Canon Inc. (https://en.Canon-CNA.com/) announced today that it will launch new plastic sorting equipment with innovative material identification technology.

The equipment applies Raman spectroscopy technology to moving objects with a tracking mechanism to collectively detect the material types of plastic fragments with high accuracy, even when black plastic pieces are mixed with other colors, which has been conventionally challenging. Today, the company will begin widely accepting orders from the market for the “TR Series” which includes the “TR-S1510.”

Currently, roughly 20%[1] of plastic waste generated in our daily lives is recycled as material for new products (material recycling), while the remainder is used as fuel or incinerated. Recycled plastics have to maintain a certain degree of purity, which is why materials made of plastic waste, such as ABS[2] and polypropylene (PP), must be accurately identified. However, black plastics, often used in home electronics or automobile upholstery, do not transmit or reflect visible light, making it difficult to identify their materials using conventional near-infrared spectroscopy[3]. Additionally, in order to accelerate plastic recycling, higher accuracy and productivity are required for sorting operations. The new product employs a proprietary tracking Raman spectroscopic method to rapidly sort all plastic pieces regardless of their colours, including black, with high precision, thereby helping to improve the productivity of recycling plants. With the launch of this product, Canon marks its entry into the recycling system market in an aim to build a circular economy by maximizing material recycling.

The new product’s high-precision, high-speed sorting of plastic including black pieces is thanks to its unique combination of Raman spectroscopy with a tracking mechanism. Raman spectroscopy is a detection method that utilizes laser light to illuminate plastic pieces to obtain molecular information of the substance, thereby enabling the material detection. This method is technically applicable to black plastic. However, due to the limited amount of reflection by the black plastic pieces, the measurement time is too long relative to the speed and throughput required to effectively sort all the pieces regardless of their colours at recycling plants. Therefore, the practical application of Raman spectroscopy to sorting black plastic has so far proven difficult. By combining Raman spectroscopy with Canon’s measurement and control equipment, the company has developed a tracking Raman spectroscopy technology which scans[4] laser light toward the pieces, thus ensuring there is enough measurement time required for each piece of plastic according to its colour and achieving high speed and high accuracy overall. With this new system, the materials of black plastic pieces which were challenging to identify using the conventional near-infrared method can now be identified in a practical manner even when mixed with other colours, thereby helping to improve the productivity of recycling plants and, as the result, maximizing material recycling.

This new product maintains a conveyor speed of 1.5 meters per second and can sort up to 1 ton of plastic per hour. It can even be customized according to a customer’s throughput and installation space by changing the module which tracks and measures the plastic pieces or the combination of conveyor belts.

[1] According to “Plastic Products, Plastic Waste and Resource Recovery” published by the Plastic Waste Management Institute

[2] Acrylonitrile Butadiene Styrene. A type of plastic that is highly resistant to heat and impact.

[3] A method of measurement in which an object is illuminated with near-infrared light. Based on such factors as reflection and penetration of light, the object’s light absorption is measured and the type of resin the object comprises can be determined

[4] By continuously moving the position of the laser, the target object is continuously illuminated by the laser, allowing for light to be reflected

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

Media enquiries, please contact:
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com

Raman spectroscopy is a detection method that utilizes laser light to illuminate plastic pieces to obtain molecular information of the substance, thereby enabling the material detection.

This method is technically applicable to black plastic. However, due to the limited amount of reflection by the black plastic pieces, the measurement time is too long relative to the speed and throughput required to effectively sort all the pieces regardless of their colours at recycling plants.

Therefore, the practical application of Raman spectroscopy to sorting black plastic has so far proven difficult. By combining Raman spectroscopy with Canon’s measurement and control equipment, the company has developed a tracking Raman spectroscopy technology which scans[4] laser light toward the pieces, thus ensuring there is enough measurement time required for each piece of plastic according to its colour and achieving high speed and high accuracy overall.

With this new system, the materials of black plastic pieces which were challenging to identify using the conventional near-infrared method can now be identified in a practical manner even when mixed with other colours, thereby helping to improve the productivity of recycling plants and, as the result, maximizing material recycling.

This new product maintains a conveyor speed of 1.5 meters per second and can sort up to 1 ton of plastic per hour. It can even be customized according to a customer’s throughput and installation space by changing the module which tracks and measures the plastic pieces or the combination of conveyor belts.

[1] According to “Plastic Products, Plastic Waste and Resource Recovery” published by the Plastic Waste Management Institute

[2] Acrylonitrile Butadiene Styrene. A type of plastic that is highly resistant to heat and impact.

[3] A method of measurement in which an object is illuminated with near-infrared light. Based on such factors as reflection and penetration of light, the object’s light absorption is measured and the type of resin the object comprises can be determined

[4] By continuously moving the position of the laser, the target object is continuously illuminated by the laser, allowing for light to be reflected

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

Media enquiries, please contact:
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com

June 26, 2024
14th Meeting of the Open-ended Working Group of the Basel Convention:

Science every day identifies more hazardous constituents in waste. Recycling operations are also changing as new ways are found to recover valuable content from waste.

These changes raise new questions for parties to the one of the oldest multilateral environmental agreements, the Basel Convention, as to how the waste trade can be better monitored and regulated.

The Fourteenth Meeting of the Basel Convention’s Open-ended Working Group (OEWG-14) is the only occasion for all parties to meet face-to-face before the next meeting of the Conference of the Parties, COP 17, takes place in April 2025.

As such, there is a packed agenda for the four-day meeting as delegates aim to finalize text on several key issues, which will be forwarded to COP 17. While work will continue during the intersessional period, OEWG-14 provides parties with the chance to hammer out workable approaches to improving implementation of one of the world’s longest standing environmental agreements.

In opening statements, the African Group, Asia Pacific, Central and Eastern Europe, and the Latin American and Caribbean Group (GRULAC) emphasized the continuing need for strengthening technical assistance and capacity building and supporting regional work and cooperation among neighboring countries.

Both GRULAC and the European Union (EU) stressed the importance of improving the prior informed consent (PIC) procedure, considered the keystone of the Basel Convention.

On the draft renewed strategic framework, delegates in plenary called for more work to be done on the overall vision, guiding principles, objectives, goals, and indicators.

One contentious issue is the time frame of the strategic framework—whether it should be a 10-year framework or a shorter one to align with the 2030 timeline of the Sustainable Development Goals (SDGs). OEWG-14 established a contact group to continue these discussions, co-chaired by Keima Gardiner (Trinidad and Tobago) and Ole Thomas Thommesen (Norway).

The contact group on the Strategic Framework will also address questions around how the PIC procedure can be improved, including questions around electronic notification, and countries’ different understandings of what constitutes transboundary movement.

On technical guidelines, delegates in plenary discussed several different waste streams. On e-waste, the OEWG adopted a decision inviting Parties and others to pilot-test the technical guidelines adopted by COP 16, and to report on their results to an expert working group that will update the guidelines in view of countries’ experiences, for COP 17’s consideration.

On two draft technical guidelines for waste batteries—one on lead-acid batteries and the second on other types of batteries—several delegates called for further work on the former regarding health and safety aspects, and one asked for greater detail on the technologies for recycling all components of such batteries, including their plastic casing.

On revised technical guidelines on wastes consisting of, containing, or contaminated with persistent organic pollutants (“POPs wastes”), some developing countries felt that countries had limited capacity to detect POPs content at their borders and therefore the lowest possible POPs content values should be adopted, whereas another believed that countries’ management efforts would suffer if overly stringent limits were set.

Delegates agreed to refer work on the general technical guidelines on POPs, four technical guidelines on specific POPs wastes, and on a draft format for the collection of information on low POPs content values, to a contact group on Technical Matters co-chaired by Katie Olley (United Kingdom) and Nawaf Bilasi (Saudi Arabia).

A contact group on Legal Matters, co-chaired by Perine Kasonde (Zambia) and Jason Dunn (Australia), will discuss proposed amendments to the Convention annexes on issues regarding waste categories to be controlled (Annex I), criteria for identifying hazardous characteristics (Annex III) and disposal operations (Annex IV).

Some of the outstanding issues, in this regard, include concerns to maintain internal consistency of the Annex provisions, and at what point of the life cycle of materials their hazardous content should be determined.

The two contact groups on Technical Matters and Legal Matters began their deliberations in the late afternoon and continued late into the evening.

SOURCE

EARTH NEGOTIATIONS BULLETIN

June 26, 2024
Artificial Intelligence (AI) and the future of work – the opportunity for Africa

JOHANNESBURG, South Africa, June 24, 2024/ — Africa has a unique opportunity to influence what the future of work looks like in these early days as large language learning models (LLMs) are evolving, and the environment for applications is still new.

This is according to the AI and the Future of Work in Africa whitepaper produced by Microsoft (www.Microsoft.com) and a collective of industry experts from across the continent.

Nearly one billion people in Africa are currently under the age of 35 with the continent projected to be home to almost half of the world’s youth population by the turn of the century, in effect making up half of the potential global workforce of the future.

Currently, up to 12 million young Africans enter the labour market annually, but according to a report from the International Labour Organisation, more than 20% are neither in employment, education nor training.

“We see a significant role for generative AI to not only transform work environments, but also foster opportunities for the youth to create jobs, innovate and help drive economic growth and stability across the continent,” says Ravi Bhat, Chief Technology and Solutions Officer at Microsoft Africa.

According to the whitepaper, many expect generative AI to drastically change knowledge worker jobs, especially in terms of the type of work done, the skills required, and the outputs produced. McKinsey research (http://apo-opa.co/3VBE9Rl) shows that generative AI (GenAI) could enable labour productivity growth of up to 0.6% annually through 2040, depending on the rate of technology adoption and the redeployment of worker time into other activities.

“Generative AI has significant potential to advance human capabilities,” says Jacki O’Neill, Director at Microsoft Research Africa. “As more people across Africa get access to GenAI tools through their internet-enabled devices and more affordable data, the barriers to access are being reduced and opportunities for skilling can increase.”

“But it is not only information workers that stand to benefit from GenAI.”

The promise of GenAI to transform industries such as agriculture, healthcare, and services must be balanced by equipping the youth with the skills needed for an AI-disrupted labour market to ensure that they are not left behind in this technological shift.

It is therefore important to build skills across the spectrum, from how to deploy and use GenAI tools effectively at work, to how to build appropriate and innovative applications and technologies on top of these models, to the post-graduate skills of research and innovation in machine learning, natural language processing, human-computer interaction, cybersecurity, and systems to name a few.

“Investing in this range of skills gives Africans the best opportunity to create dignified, appropriate jobs, to adapt AI sensitively to indigenous knowledge, to create new value chains, and better AI systems which might reflect for example human-centred and community values. Such systems would add value globally and could counter typical tech-centric models of automation and deskilling,” adds O’Neill.

With culturally and linguistically sensitive design, GenAI can become more tailored to individual workers, learning from interactions and becoming a personalised tool that respects privacy and enhances each worker’s unique skills. It can serve as a guide to foster inclusivity and showcase the diverse skills and abilities of African workers.

GenAI can also be appropriated as a community-focused tool that supports collaborative work and communal development.

The technology can assist in decision-making, risk assessment, and data analysis, empowering entrepreneurs in their ventures. For the informal sector, tailored GenAI tools will elevate the capabilities of entrepreneurs, providing customised assistance for their unique needs.

According to the whitepaper, ensuring a beneficial outcome with GenAI involves proactive governance, inclusive design, investment in education, and a commitment to regulatory and ethical standards. This is a collective responsibility, requiring engagement from policymakers, technologists, and citizens alike.

“Technology alone cannot solve the challenges that our youthful continent faces. We need to create policies and practices to ensure that GenAI, and AI in general, is deployed responsibly with AI-related labour being valued and dignified. It requires the macro-economic, labour, and regulatory markets to adapt and be capable of supporting positive change,” adds Bhat.

The AI revolution in Africa is no longer just a possibility; it is already underway, and Microsoft is committed to working alongside individuals, governments, partners and stakeholders across the continent to prepare for a future where AI is intricately woven into the fabric of work and society in Africa.

To learn more, visit AI and the future of work in Africa (http://apo-opa.co/4cBTfxd) to download the whitepaper.

Distributed by APO Group on behalf of Microsoft.

June 24, 2024
CityBlue Hotels and National Museums of Kenya Announce Strategic Partnership

The National Museums of Kenya (NMK) and CityBlue Hotels (CityBlue) are proud to announce a new partnership to co-promote tourism and culture in Kenya.

This alliance marks an exciting opportunity for sponsorship, co-branding, co-marketing and other forms of collaboration.

NMK was established by an Act of Parliament, the Museums and Heritage Act 2006, as a multi-disciplinary institution whose role is to collect, preserve, study, document and present Kenya’s past and present cultural and natural heritage.

This is for the purposes of enhancing knowledge, appreciation, respect and sustainable utilization of these resources for the benefit of Kenya and the world, for now and posterity.

CityBlue Hotels, Africa’s fastest-growing local hotel chain, operates in Kenya (Mombasa, Nairobi and Lamu with new properties opening soon), Uganda, Rwanda, South Sudan, Tanzania and Ghana. CityBlue also has a collaboration arrangement with more than twenty hotels in South Africa and Mozambique.

Professor Mary Gikungu, Director General of the NMK, stated that, “This arrangement is a step for NMK to engage with the private sector with a group that is established, growing, dynamic and cares, like we do, for the welfare of mankind and the conservation of the biological diversity of the East African region and that of the entire planet. The story of NMK and our cultural heritage will be enhanced by this collaboration”.

Accompanied by,renowned palaeontologist,Dr.Fredrick Kyalo Manthi,the Director of Antiquities,Sites and Monuments and a Senior Research Scientist at the National Museums of Kenya,who was elected into the United States National Academy of Sciences in 2024,becoming the second Kenyan to join the US National Academy of Sciences and Isaiah Nyaega,Legal Officer at NMK.

Jameel Verjee,Founder & CEO of CityBlue Hotels,explained at the Africa Hotel Investment Forum 2024 that “NMK manages many Reginal Museums,Sites and Monuments of national and international importance priceless collections of Kenya’s living cultural heritage and natural heritage.As an institution that must respond to the growing needs of the society,NMK is striving to contribute in a unique way yo the task of national development and we cannot wait to be a partner of NMK on this journey.”

‘

June 24, 2024
67th Meeting of the GEF Council: momentum for people and the planet

The 67th meeting of the GEF Council, the 36th meeting of the Least Developed Countries Fund/Special Climate Change Fund (LDCF/SCCF) Council, and the 2nd meeting of the Global Biodiversity Framework Fund (GBFF) Council collectively adopted work programs totaling USD 736.42 million.

The work programs will seek to bring global environmental benefits through activities addressing biodiversity loss, chemicals and waste pollution, land degradation, climate change, and international waters.

Among other projects and programs, funding was approved for a Great Green Wall program established between the LDCF and GEF Trust Funds, a Coral Bond blended finance project that builds on the lessons from the 2022 Rhino bBond project, and a Sustainable Cities Integrated Program.

Among other decisions, the Council appointed Carlos Manuel Rodríguez to a second four year term as the GEF’s CEO and Chairperson. The Council meetings took place at the Mayflower Hotel in Washington, DC, from 17-20 June 2024. The 68th GEF Council meeting will be held fully on-line in December 2024

SOURCE

EARTH NEGOTIATIONS BULLETIN

June 23, 2024
A Model for African Producers: Wing Wah’s $2B Integrated Energy Project to Bolster Resource Monetization in the Republic of the Congo

JOHANNESBURG, South Africa, June 21, 2024/ — The Republic of the Congo has a goal of increasing hydrocarbon production to 500,000 barrels per day (bpd) and projects such as Wing Wah Oil Company’s Bango Kayo development will serve as catalysts for meeting this objective.

The project is a strong example for how integration and scalability can be utilized to not only monetize resources but maximize production beyond the lifecycle of initially-tied in blocks.

The African Energy Chamber (AEC) – the voice of the African energy sector – conducted a tour of Wing Wah’s project near Pointe Noire during a working visit to the country this week. A strong advocate for the development of oil and gas in Africa, the AEC believes that hydrocarbons are the solution for making energy poverty history by 2030.

Project’s such as Wing Wah’s in the Republic of the Congo are not only a testament to the role international partnerships play in developing African oil and gas resources but to the potential for large-scale, integrated developments across the continent. The Ministry of Hydrocarbons – led by Minister Bruno Jean-Richard Itoua – and the country’s NOC Société Nationale des Pétroles du Congo – led by Managing Director Maixent Raoul Ominga – have provided the much-needed support that companies such as Wing Wah need to develop innovative projects, and the AEC commends them for the progress made thus far.

Bango Kayo: An Innovative Oil & Gas Venture

The Bango Kayo conventional oilfield is a producing block operated by Wing Wah, which features 237 wells that have been drilled to date. Currently, the field is producing 45,000 bpd and is nearing its peak production of 50,000 bpd. In addition to oil production, Wing Wah is implementing a phased expansion and development approach to monetize previously-flared gas resources.

Over three phases, the project will progressively increase gas treatment and valorization capacity, producing LPG, butane and propane, primarily for the domestic market. Excess LPG will be exported regionally.

The project incorporates the development of three trains. The first has a capacity of one million cubic meters per day (mcm/d), while the second and third trains will have a capacity of two mcm/d each. The second and third trains are anticipated to come online by March 2025 and December 2025, respectively, and will bring the total capacity of the project to five mcm/b. In April 2024,

Wing Wah signed an amended production sharing contract with the government for the Bango Kayo block, signaling the start of the expansion of the project.

Integration: A Tool for Maximizing Efficiency and Scalability

Wing Wah’s project in the Republic of the Congo is underpinned by a focus on integration and scalability. The structure of the facilities has been planned in a way that prioritizes efficiency, reduces emissions and promotes scalability.

Specifically, the facility enables Wing Wah to tap into stranded gas that would have otherwise been flared, thereby providing opportunities for monetization and the utilization of gas across the oil production cycle. Unlike traditional LNG infrastructure which faces challenges as blocks mature and feedstock declines, the scalable design of Wing Wah’s project creates the opportunity to maximize production – both at existing blocks and new concessions.

Additionally, each unit at the facility has its own power generation solution which are scalable in increments of 2 MW. Currently, 20 MW is installed, with generators utilizing gas from associated blocks. As production increases, so can power generation, thereby ensuring scalability and durability.

Meanwhile, the water management system is also integrated into the project in a way that promotes environmentally-friendly operations. Water treatment is conducted on-site and distributed back into the ocean once treated.

As such, the facility provides a quintessence of oil and gas integration. The development approach features fast construction, fast commissioning and quick, efficient operations. Wing Wah are using state-of-the-art equipment and have an organized layout of the overall infrastructure and storage.

This is expected to boost efficiency at the project site while ensuring the project plays an instrumental role in processing oil and gas for the long-term.

Prioritizing Local Community Development

In addition to project efficiency, the Bango Kayo development has been constructed in a way that takes into account the needs of local communities. All of the processing facilities have on-site accommodation, with senior management on-call to ensure a constant review of work. Currently, 3,300 people are employed at the project, with 90% of the workforce Congolese.

Meanwhile, excess power generated at the project site can be distributed to local communities, providing a clean and reliable source of power. Water management also takes into account regional demand, with surrounding communities benefiting from a clean source. This structure not only brings tangible benefits to local communities but reducing emissions across the project’s operational cycle.

“Wing Wah’s integrated project in the Republic of the Congo is a model that can and must be replicated in other oil and gas producing nations in Africa. The project’s focus on scalability ensures production is not limited to specific blocks, but rather, infrastructure can be easily tied into new concessions as exploration ramps up across the country.

Through gas-fired power generation, innovative water management and a long-term approach to production, the project is poised to unlock a wealth of benefits for the country,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

SOURCE
African Energy Chamber

June 22, 2024
Africa Offers Attractive Investment Opportunities for Japanese Firms, Say African Development Bank Leaders

TOKYO, Japan, June 22, 2024/ — Africa presents a compelling investment destination for Japanese firms, with high growth potential and the African Development Bank’s strong support to manage risks, African Development Bank Group (www.AfDB.org) leaders stressed at the Japan-Africa Business Forum in Tokyo.

“Africa has huge private sector opportunities. The continent offers some of the highest returns globally,” said Prof. Kevin Chika Urama, Bank Group Chief Economist and Vice President, in a presentation highlighting Africa’s abundant renewable energy potential, and the need for strategic investments in green minerals and value addition.

“Smart investments in Africa are good business — doing well by doing good,” he stressed.

Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, highlighted Japan’s competitive advantage in geothermal technology. “90% of all the turbines in Kenya are from Japan, starting with Mitsubishi,” he noted. Kariuki also positioned Africa as a solution to Europe’s energy challenges, with planned interconnections to export power and hydrogen.

The forum was organised by the African Development Bank and Keizai Doyukai, the Japanese Association of Corporate Executives, with support from Japan’s Ministry of Finance.

Bank leaders underscored the institution’s commitment to making investing in Africa more attractive. “We have facilities within the Bank to try and de-risk these projects,” said Kariuki, citing the Sustainable Energy Fund for Africa’s (SEFA) support for the Kom Ombo and Kairouan solar projects amid escalating costs.

Kazuko Nagura from Japan’s Ministry of Economy, Trade and Industry (METI) announced plans to hold the third Japan-Africa Public-Private Economic Forum later this year. The event will offer Japanese companies an opportunity to travel to Africa to undertake business development and networking.

Nagura also made reference to the ministry’s efforts to support Japanese business ventures in Africa such as the AfDX (https://apo-opa.co/4eCjcP4) program and Expo 2025 Osaka, Kansai (https://apo-opa.co/4be8M58) planned for next year.

During a panel discussion on investing in African startups, Vice President for Private Sector, Infrastructure and Industrialisation Solomon Quaynor stressed the potential of the Fourth Industrial Revolution (4IR) to drive productivity improvements and deliver services to the base of the pyramid.

“The idea is to use technology to increase profitability through efficiency, so you’re delivering value for which all segments of society are actually paying,” he explained.

Quaynor highlighted the Bank’s initiatives to develop Africa’s human capital and startup ecosystem, including partnerships with tech giants: “We have a program with Intel to train 9 million Africans in artificial intelligence and a coding for employment program to upskill up to 50 million youth.”

He said the Youth Entrepreneurship Investment Banks (YEIBs) (https://apo-opa.co/4cuUaPV) will further support tech-enabled companies and enhance the collaboration with &Capital, a new Africa-focused impact fund endorsed by Keizai Doyukai.

Misako Takahashi, Deputy Director-General of the Middle Eastern and African Affairs Bureau at Japan’s Ministry of Foreign Affairs, highlighted TICAD as a platform for co-creating innovative solutions for growth and to discuss Japan and Africa’s shared future.

Yacine Fal, the Special Representative of the African Development Bank’s President to the Africa Investment Forum (www.AfricaInvestmentForum.com), showcased the platform’s role as a premier conduit for investment into Africa’s agriculture, energy, transport, healthcare and ICT sectors, among others.

She noted the successful participation of Japanese investors and business leaders including those from Keizai Doyukai at the 2023 Market Days held last November in Marrakech.

Earlier in the day, Keizai Doyukai, and the African Development Bank reaffirmed their commitment to work together to strengthen business ties between Japan and African countries.

The two jointly organized the business forum to increase interest in African business and promote a better understanding of the Japanese private sector ahead of TICAD9.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

More images: https://apo-opa.co/3VyblJv

Media Contact:
Olufemi Terry
African Development Bank Group
media@afdb.org

June 22, 2024
Tanzania’s Foreign Ministry Launches the Construction of the Twin Towers in Kenya: Set to Redefine Nairobi’s Skyline

The government of Tanzania has launched the construction of the Twin Towers in Kenya’s capital city,  Nairobi. This adds to Tanzania’s list of  real estate investment properties worldwide, as noted by the country’s foreign affairs minister, January Makamba. The monumental  real estate venture is expected between the National Social Security Fund (NSSF) in Kenya and Tanzania’s Ministry of Foreign Affairs.

The project, once completed, is set to redefine  Nairobi’s skyline while consolidating Tanzania’s diplomatic presence in Kenya. Currently, Tanzania has no on-site embassy, hence the launch of the ambitious project.

Furthermore, Tanzania’s government hopes that the project will be a viable solution in reducing the costs it accrues as rentals for embassy offices and residential buildings across the globe. The twin towers, rising 22 floors each, will host offices projected to earn the Tanzania government its needed forex.

The Significance of the Construction of the Twin Towers in Tanzania

The construction of the Twin Towers is expected to be one of the most significant projects undertaken by Tanzania’s government. Once completed, the project is expected to facilitate Tanzania’s economic growth by facilitating cost savings. Tanzania’s foreign ministry spends nearly $12 million annually in rentals for embassy offices and residential buildings. Once completed, the Twin Towers will cut down significant costs, and the funds can be rechanneled to other sectors of Tanzania’s economy.

The country plans to replicate the construction of  real estate investments in other cities, including Kigali, Kinshasa,  New York, London, and Lusaka.

Furthermore, once completed, the Twin Towers is expected to generate $13.7 million annually in revenue, a big boost to Tanzania’s economic landscape. “In the new strategy, which the government approved recently, we seek to use professional and world-class  real estate entities to develop these assets to earn income for the government and uplift the quality of our embassies and embassy staff housing,” Makamba said.

The State of Affairs Regarding Tanzania’s Projects in Kenya

Tanzania’s foreign ministry has noted that it has set aside close to $48 million, translating to Tsh 29 billion for investments in Kenya. These remarks were made during the ministry’s budget announcement recently.

These plans underscore Tanzania’s commitment to fostering infrastructural and economic development beyond constructing the Twin Towers. Most of these projects are expected to be undertaken in partnership with private sectors within the two nations.

However, Tanzania has set its eyes far beyond constructing one tower and noted plans to build others in other states. The foreign ministry has noted that it has set aside $5 million to construct offices and ambassadorial residences in Lusaka, Zambia.

The planned construction of embassies and commercial buildings for Tanzania will also include the government’s properties in Uganda’s capital,  Kampala and Abuja, Nigeria, among others.

Other Significant Projects that Tanzania is Involved in

Besides constructing the Twin Towers in Kenya, Tanzania also participates in other significant projects, such as the Standard Gauge Railway. Tanzania, while lagging in SGR connecting Uganda, has accelerated national connectivity.

Using funding from China and Turkey, Tanzania is constructing a 1,600-kilometre SGR line connecting  Dar es Salaam and Mwanza. The country has made enormous strides in the project compared to other countries involved as its end of the SGR is electrified. It recently launched the operationalization of an electric train, the first of its kind in Eastern Africa.

SOURCE

CONSTRUCTION REVIEW

June 21, 2024
Mercy Ships Welcomes Presidential Visit on board, in Toamasina Harbor

TOAMASINA, Madagascar, June 20, 2024/ — Malagasy president His Excellency Andry Nirina Rajoelina visited patients and volunteers on board Mercy Ships’ hospital vessel (www.MercyShips.org) to see for himself the lives being transformed.

On Saturday June 15, the president along with Minister of Health Professor Randriamanantany Zely Arivelo, accompanied by a delegation with His Excellency, visited the Africa Mercy ® hospital ship in Toamasina. This marked the first time the Malagasy president has visited the ship during its current mission.

Nathan Jansen, Managing Director of the Africa Mercy, said: “We were honored to welcome His Excellency aboard the Africa Mercy. We were encouraged both by his desire to bring health to all of the people of Madagascar, and for his expression of partnership with Mercy Ships. We consider it a privilege to serve as partners with the Ministry of Health to bring direct medical services and education training and advocacy to the health system.”

During the hospital tour, His Excellency had the opportunity to speak with several patients in the ward. He said: “We hope Mercy Ships can serve in Madagascar as long as possible”, to which everyone including the President’s delegation, the crew, and the patients in the ward, broke out in loud applause.

The president also explored various departments of the hospital, including the operating room and the CT-scanner. His Excellency remarked: “It is already impressive to have a hospital ship like this, utilizing advanced technologies.”

While walking through the ship’s corridors, the President took time to chat with some crew members. He showed particular interest in the onboard community, which currently consists of 336 individuals. On the bridge, he received a briefing from the captain and enjoyed a stunning view of Toamasina’s coastline.

At the end of his visit, His Excellency affirmed that Mercy Ships supports the Malagasy government’s effort in healthcare.

The President stated: “Healthcare must be closer to the people. This is why we have built multiple hospitals. From 1990 to 2019, Madagascar had only 18 referral hospitals. Since the beginning of my mandate in 2019, we have constructed 30 additional hospitals nationwide.

“We now need partners to help those in difficulty. There are operations that Malagasy specialists cannot yet perform, especially for the most vulnerable. The actions and operations that Mercy Ships is undertaking in Madagascar are commendable, and we should continue in this direction to help our neighbors, particularly those in difficulty and suffering from illnesses.”

Distributed by APO Group on behalf of Mercy Ships.

June 20, 2024