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Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

Speaking during the Invest in African Energy Reception in London, Afreximbank’s Global Head of Client Relations, Rene Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda

LONDON, United Kingdom, January 27, 2023/ — The Invest in African Energy Reception (https://AECWeek.com/news/) kicked off in London with opening remarks by African Energy Chamber Executive Chairman, NJ Ayuk, and Rystad Energy Co-Founder and Chief Analyst, Per Magnus Nysveen, followed by an opening address delivered by Rene Awambeng, Global Head of Client Relations at the African Export-Import Bank – a partner of the event. During his address, Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda.

Firstly, Awambeng emphasized that Africa only accounts for less than 3% of global emissions, and therefore should be recognized as not the cause of excessive carbon, but rather, the victims of climate change. At the same time, considering the many oil-dependent economies in Africa, with GDP measuring as high as 25% for some, the continent should be able to establish a sensible plan for a just and fair transition.

“We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing. The transition to green energy must be sensible, pragmatic and rational. It must recognize the enormity of the continent’s unmet economic development aspirations, the necessity to take urgent actions to address its ever-widening development gap and the continent’s vulnerability to climate change,” Awambeng stated.

As such, Awambeng detailed a strategy towards a just and inclusive transition. Key aspects include supporting the implementation of the African Continental Free Trade Agreement (AfCFTA) to reduce emissions associated with shipping, moving away from exporting raw minerals that support the green economy and scaling up domestic value chains; enhancing foreign capital to finance the just transition and establishing African-based financing mechanisms to support industry growth.

“We must give ourselves a breather to use the natural resources at our disposal to urgently deliver our development needs and simultaneously deploy these to promote investments in green energy. We must proactively and collectively intensify our efforts to implement the AfCFTA, as it is a clear path to mitigating carbon emissions while sustaining lives and livelihoods. We must all support the creation of the Africa Energy Transition Bank so that the continent can take control of its own future. We must back the African Energy Chamber (https://EnergyChamber.org/) so that it can intensify its thought leadership on this subject and ensure that Africa’s voice is heard as loudly as possible on issues that matter to us regarding energy.”

Meanwhile, Awambeng emphasized the need to take urgent action to address the development gap in Africa and the continent’s vulnerability to climate change. In addition to energy investment, focus needs to be placed on climate investment, with the continent requiring up to $277 billion per annum to combat climate change. With Africa currently receiving less than $28 billion of the required funds, Awambeng urged the developed world to honor its commitments to climate financing and incentivized African stakeholders to create their own mechanisms and instruments to honor such commitments.

“Afreximbank is supporting the promotion of a number of such innovative instruments and programs that can catalyze global finance and help close the funding gap for the necessary climate action while not sacrificing the development priorities of the continent. The Liquidity and Sustainability Facility represents one such innovative instrument…Initially launched by UNECA at COP26 in Glasgow, we expect to conclude the first deal in the course of this conference, to be fully funded by the Afreximbank.”

In closing, Awambeng reiterated the need for a just transition in Africa, one that prioritizes carbon emission reduction and economic growth, simultaneously.

“While decarbonization is at the center of the global climate agenda, it is evident that Africa, which has hardly carbonized, cannot contribute much to decarbonization. Africa’s priority is to find the money to fight poverty and fund mitigation and adaptation investments.”

Distributed by APO Group on behalf of African Energy Chamber.

SOURCE
African Energy Chamber

Distributed by :APO Group

January 27, 2023

OIC Assistant Secretary-General for Humanitarian Affairs Meets Qatar Fund for Development’s Director-General

Doha, 26 January 2023
OIC Assistant Secretary-General for Humanitarian, Social and Cultural Affairs, Ambassador Tarig Ali Bakhiet, today 26 January 2023, met H.E. Mr Khalifa Bin Jasim Al-Kawari, Director-General of Qatar Fund for Development at the Fund’s headquarters in Doha.
Ambassador Bakhiet applauded the humanitarian support the State of Qatar gives to many OIC Member States through the Fund.
The meeting discussed ways towards potential cooperation between the OIC and the Fund to support member states affected by humanitarian disasters.

January 27, 2023
Africa Must end Hunger and Food Insecurity!!!

Editor’s Pick

Indeed, the continuous lack of food production self-sufficiency and the increasing food import dependency in many African countries to supplement domestic production shortfalls amidst big agriculture resources potential, is worrisome.

Africa as a continent has all it takes to be self-sufficient in crops, aquaculture, mariculture, livestock and poultry production. The continent’s world’s food basket status potential is therefore not in the least dispute.

With over 60 percent of global total arable land potential, more than enough marine, fresh and ground water resources, Africa has no excuse to feel threatened with food insecurity as a result of geopolitical tensions in other parts of the world.

The importance and relevance of the recently ended Feed Africa Summit held by the Senegalese government in collaboration with the African Development Bank(AfDB), can therefore be best appreciated against this background.

In this light, we at the Ecoenvironews Africa magazine do take special note of the AfDB’s pragmatic action of committing USD10 billion to agriculture and rolling out transformative initiatives, including a $1.5 billion emergency food production facility in 2022 to help African countries avert a potential food crisis following Russia’s war in Ukraine.

The bank’s President Adesina call on more than 34 heads of states,70 government ministers, the private sector, farmers, development partners, and corporate executives to work out compacts that would deliver food and agriculture transformation at scale across Africa was on point.

For us at the Eco-environews, Africa, we wish to add that, the collective action must be driven by purposely crafted Strategic Action Plans spelling out realistically achievable set goals and targets with time lines and religiously work to achieve them so as to unlock the continent’s potential to become a global food breadbasket.

We also believe that Africans generally need mindset and attitudinal change in how we deal with this most important issue of agriculture. We ought to re-define and appreciate agriculture as a science and business and not simply as a mere source of livelihood.

The minds of African youth in some countries, ought to be cleared of the mental and psychological effect of agriculture being presented as an option for school drop-outs.

Africa must take maximum of her most youthful continent in the world status to unleash a dawn of African agripreneurs. Such youthful entrepreneurs who are in gainful self-employment, would also, as employers, be contributing their quota towards addressing the ballooning youth unemployment scourge.

Predominantly rain-fed and Small-farmer holder driven agriculture production and productivity in many African countries also ought to change for the better.

Small holder farming activities must go alongside irrigation-fed modern commercial farming production if Africa is to achieve local food self-sufficiency and to produce more for the international market. The decades long major challenge of lack of easy access to capital at affordable cost, as well as, high yield quality seeds, high cost of basic inputs including agro-chemicals too need special attention.

President Muhammadu Buhari of Nigeria’s call on African countries to offer more robust support for farmers, dedicate a chunk of the national budget to agriculture, and motivate youth and women to farm was spot on.

We believe that for the special agro-industrial processing zones being rolled out by the AfDB to be sustainable, beefing up the production value chains in primary agriculture sector would require stepping up irrigation-fed and modernized commercial scale agricultural production and productivity

January 27, 2023

Feed Africa Summit: African Development Bank to commit $10 billion to make continent the breadbasket of the world

Opening the summit, President Sall — who is also the African Union chairperson — said the time had come for the continent to feed itself

DAKAR, Senegal, January 26, 2023/ — The African Development Bank Group (www.AfDB.org), will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world. Bank Group President, Dr Akinwumi Adesina, announced Wednesday at the Dakar 2 Africa Food Summit in Diamniadio, east of the Senegalese capital of Dakar.

Adesina called on more than 34 heads of state, 70 government ministers, the private sector, farmers, development partners, and corporate executives to work out compacts that would deliver food and agriculture transformation at scale across Africa. He encouraged them to take collective action to unlock the continent’s agricultural potential to become a global breadbasket.

The Dakar 2 summit — under the theme Feed Africa: food sovereignty and resilience — takes place amid supply chain disruptions caused by the Covid-19 pandemic, climate change, Russia’s invasion of Ukraine. More than a thousand delegates and dignitaries attended, including the President of Ireland Michael D. Higgins.

The Government of Senegal and the African Development Bank Group are co-hosting the summit, eight years after the inaugural Dakar 1 summit where the newly elected Adesina announced the Bank’s Feed Africa strategy.

Opening the summit, President Sall — who is also the African Union chairperson — said the time had come for the continent to feed itself by adding value and stepping up the use of technology.

Sall said: “From the farm to the plate, we need full food sovereignty, and we must increase land under cultivation and market access to enhance cross-border trade.”

The Chairperson of the African Union Commission Moussa Faki Mahamat said the Dakar summit was timely and would provide innovative solutions to help Africa become less dependent on food imports.

“Food sovereignty should be our new weapon of freedom,” Mahamat told the gathering. He urged development partners to work together within existing structures, such as Agenda 2063 and the African Continental Free Trade Area, for sustainable transformation.

Mahamat commended the African Development Bank for rolling out transformative initiatives, including a $1.5 billion emergency food production facility in 2022 to help African countries avert a potential food crisis following Russia’s war in Ukraine.

The President of Kenya, William Ruto, said, “It is a shame that 60 years after independence, we are gathered to talk about feeding ourselves. We can and we must do better.”The African Development Bank Group chief said: “Today over 283 million Africans go to bed hungry every day. This is not acceptable. No mother should ever have to struggle with rumbling of the stomach of a hungry child.”

“We must raise the bar. We must raise our ambition. We must arise and say to ourselves: it is time to feed Africa. The timing is right, and the moment is now. Feed Africa; we must,” said Adesina.

The bank head urged the leaders to turn political will into decisive actions to deliver food security for Africa, “We must strongly support farmers, especially smallholder farmers, majority of whom are women, and get more young people into agriculture. And we must take agriculture as a business, not a development activity, and boost support to the private sector.”

President Higgins of Ireland said with Africa’s young population accounting for about 20% of the world’s young people, the continent had great potential. He said the rest of the world would look up to it in the future.

“Let us make this century Africa’s Century, one which will see the continent become free from hunger,” Higgins said.

In his message to the summit, United Nations Secretary-General Antonio Guterres acknowledged that Africa was currently facing the challenges of climate change and food insecurity, as the Russia-Ukraine war had caused the price of fertilizers to shoot up and made their supply difficult.

He pledged the UN’s support to help Africa become a global food powerhouse.

President Muhammadu Buhari of Nigeria said countries must offer more robust support for farmers, dedicate a chunk of the national budget to agriculture, and motivate youth and women to farm.

Buhari said: “Feeding Africa is imperative. We must ensure we feed ourselves today, tomorrow, and well into the future.”

The Nigerian president commended Dr. Adesina and the African Development Bank for rolling out special agro-industrial processing zones across the continent, including in Nigeria.

He said: “Special agro-industrial processing zones are game changers for the structural development of the agriculture sectors. They will help us generate wealth, develop integrated infrastructure around special agro-processing zones, and add value.”

During the three-day summit, private sector players are expected to commit to national food and agriculture delivery compacts, to drive policies, create structural reforms, and attract private sector investment.

Central bank governors and finance ministers are expected to develop financing arrangements to implement the food and agriculture delivery compacts, in conjunction with agriculture ministers, private sector players, commercial banks, financial institutions, and multilateral partners and organisations

Contact:
Kwasi Kpodo
media@afdb.org

For more information: www.AfDB.org

SOURCE
African Development Bank Group (AfDB)

Distributed by:APO Group

January 26, 2023

Measuring Multidimensional Poverty: Islamic Development Bank Institute (IsDBI), Islamic Solidarity Fund for Development (ISFD), and Oxford Poverty and Human Development Initiative (OPHI) Organize Training for Islamic Development Bank (IsDB) Group Staff

Over 40 staff from the various IsDB Group entities attended the training sessions

JEDDAH, Kingdom of Saudi Arabia, January 26, 2023/ — The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org), Islamic Solidarity Fund for Development (ISFD), and Oxford Poverty and Human Development Initiative (OPHI) jointly organized a training workshop on measuring multidimensional poverty. The workshop was designed to build the capacity of IsDB Group staff in producing data-driven research that supports evidence-based policymaking.

The training was held on the 24-25 January 2023 at the IsDB Headquarters in Jeddah, Kingdom of Saudi Arabia.

Tackling poverty and building resilience is one of the strategic pillars of the new IsDB strategy. Hence, the importance of measuring and understanding multidimensional poverty not only to inform policymaking but also IsDB interventions.

The training focused on the meaning and application of the Multidimensional Poverty Index (MPI), developed by OPHI.

While poverty has traditionally been measured in terms of income, MPI captures poverty in its many forms, reflecting the depth and breadth of multidimensional poverty.

The global MPI is an internationally comparable measure of acute multidimensional poverty, developed and published by OPHI and the United Nations Development Programme since 2010. The measure includes information from more than 100 countries and is updated annually. The global MPI 2022 covers 41 of the 57 OIC countries.

The training was delivered by OPHI’s Director of Programs and Operations, Ms. Corinne Mitchell, and Research and Policy Officer, Ms. Alexandra Fortacz.

Day one of the training raised awareness about the value-added of multidimensional poverty measures and increased understanding of Multidimensional Poverty Indices and their advantages in poverty efforts for the IsDB Group. Day two focused on the technical aspects of computing and analyzing an MPI.

In their separate speeches at the opening of the workshop, IsDBI Acting Director General Dr. Sami Al-Suwailem and ISFD Director General Dr. Hiba Ahmed underscored the significance of understanding multidimensional poverty measurement in order to enable IsDB Group to tailor its development policies and programs.

Dr. Al-Suwailem noted that the workshop “will enable us to acquire and improve our skills in measuring poverty statistics, to eventually produce, interpret, and apply multi-deprivation evidence in shaping our thinking, policies, and interventions.”

Dr. Hiba Ahmed, for her part, said the partnership among the three institutions “will not only provide us with evidence to guide our policies and interventions but will also build our capacity to undertake poverty interventions tailored to the needs of our member countries.”

IsDBI, the knowledge beacon of the IsDB Group, develops knowledge-based solutions to tackle member countries’ pressing development challenges. ISFD is the poverty alleviation arm of the IsDB Group. The two organizations have been working with OPHI as part of a wider collaboration with the IsDB Group.

Over 40 staff from the various IsDB Group entities attended the training sessions.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

SOURCE
Islamic Development Bank Institute (IsDBI)

January 26, 2023

Ghana’s domestic debt restructuring has stalled: four reasons why

Published: January 25, 2023 11.45am SAST

Author:Theophilus Acheampong

Associate Lecturer, University of Aberdeen

Ghana is facing multiple financial and economic challenges and has requested a US$3 billion bailout from the International Monetary Fund (IMF) to help it restore macroeconomic stability. This will include bringing public debt down to more manageable levels from the currently estimated 105% of GDP to 55% in present value terms by 2028.

IMF assistance, which is yet to be approved by the fund’s executive board, is conditional on Ghana restructuring its public debt – domestic and external – which in turn requires the buy-in of bondholders. This means that those who lent money to the government by buying bonds will have to agree to the restructuring, such as a longer repayment period.

As a first step of the debt restructuring, the Ghanaian government announced a voluntary Domestic Debt Exchange Programme (DDEP) in early December 2022. It seeks to exchange about GHS137.3 billion (US$11.45 billion or about 15% of 2021 GDP) of existing domestic notes and bonds held by various local investors for a package of 12 (initially four) new bonds with different payout dates.

For any sovereign debt restructuring exercise to succeed, a qualifying majority (usually 75%) of debt holders must agree to change the contract’s key financial terms. This prevents a minority investor group from holding out and preventing the debt restructuring from proceeding.

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But the subscription to this programme is below 50%, well below the government’s 80% target. Bondholders have stated that the terms offered mean that they will lose money.

Groups such as the Ghana Individual Bondholders Forum have estimated losses of 50% to 90% on their investments if they exchange their current instruments.

That’s where things are stuck, forcing government to extend the closing date for the bond exchange three times already since early December 2022.

So what’s gone wrong? Why has the government not been able to get domestic bondholders to accept the terms it has put on the table?

I offer four reasons: investors face significant losses; the government’s “take-it-or-leave-it” approach; a lack of faith in the government; and the fact that there’s no sense of sharing the burden.

What’s behind the standoff

Significant losses by investors: My colleague Dr Yakubu Abdul-Salam estimates that investors will lose 62.40% of their bond’s original market value. The Ghana Individual Bondholders Forum says bondholders will lose about 88.2% of their investments at current inflation levels. Several bondholders have refused to participate. This is contrary to the government’s earlier expectation of “overwhelming support for this exchange”.

Ghana’s government has so far announced three extensions of the deadline as it struggles to reach the industry benchmark of a qualifying majority. The new 31 January 2023 deadline may not be met either.

Government’s take-it-or-leave-it approach: Government has presented the plan as a free or voluntary choice. But there are no real alternatives on the table.

If the restructuring is not carefully managed, it could have a substantial impact on the domestic financial sector, which owns a large portion of the bonds. Any losses within the financial sector then cascade into adverse effects on economic growth, employment and inequality.

Read more: Ghana and the IMF: debt restructuring must go hand-in-hand with managing finances better

The government’s approach has been to “divide and conquer”. Instead of meeting all the bondholders’ representatives through, for example, a national debt forum, the government has met some groups individually to offer or change concessions.

This strategy means one group loses out and another gains. For example, individual bondholders were initially excluded from the bond exchange programme. They were included after pension funds were exempted from the programme.

Lack of good faith in the government: Bondholders feel that the government has not been truthful about the dire state of the economy.

The current administration has sought to blame the Russia-Ukraine conflict and the COVID-19 pandemic for Ghana’s current economic and financial challenges. The conflict has been a contributing factor but several studies, including one by the World Bank, have shown that Ghana’s finances were precarious even before the pandemic. For example, the country’s external (foreign) and overall debt were at a high risk of distress as far back as 2019.

In other words, the country had been living beyond its means for years. It only needed an external shock to expose the weakness.

No sense of burden-sharing: Bondholders have also expressed reservations about the burden of the bond swap not being shared across the society. Nor is it being pitched as though it would achieve better outcomes for the country.

One of the key lessons from Jamaica’s successful debt exchange programme, as highlighted in a 2012 IMF study, is that

there was a perception that the burden was being shared across the society to achieve a better outcome for the country as a whole.

This made the plan acceptable to those directly affected.

In Ghana’s case, the government’s divisive approach has made it difficult for bondholders to appreciate the severity of the situation and thus reach acceptable comprises. One demonstration of burden sharing, for example, would be to cut wasteful public expenditure and the size of government. Without this, the terms of the bond swap amount to what the convener of the Individual Bondholders Forum has described as

How can uptake be improved?

Ghana must comprehensively restructure its public debt and improve its public finances. But the proposed bond exchange must be restructured to increase its chances of acceptance by domestic bondholders.

How can this be done?

Firstly, by organizing a national debt forum with all stakeholders. The forum would offer an opportunity for frank conversations with all bondholders present rather than the current siloed divide-and-rule approach whose outcome has been the inclusion, exclusion and re-inclusion of certain categories of domestic bondholders.

Secondly, the government must renegotiate with the IMF to extend the “below 55% of GDP in NPV terms by 2028” public debt target to at least 2032. This would buy the country time to adjust gradually. The scale of cuts and debt restructuring needed now could be milder. It would also mitigate the ripple effects on the economy, which includes some domestic financial institutions possibly going under due to considerable losses.

Thirdly, the government must share the burden by cutting down on wasteful expenditure. In Jamaica, they understood the need “to change course, away from a history of continued public debt expansion and government deficits, which had not delivered in terms of economic growth and improved standards of living”. The same could be said of Ghana.

Source:(The Coversation)

January 26, 2023
OIC Secretary-General Receives the Minister of Higher Education, Scientific Research and Innovation of Guinea

Jeddah, 25 January 2023
The Secretary-General of the Organization of Islamic Cooperation (OIC), Mr. Hissein Brahim Taha, received Dr. Diaka Sidibé, Minister of Higher Education, Scientific Research and Innovation of the Republic of Guinea and his accompanying delegation on 24 January 2023.The Secretary-General paid tribute to Guinea, a member and founding country of the OIC, for its constant commitment to the OIC and to joint Islamic action.
The meeting focused on ways and means of strengthening cooperation relations in the field of higher and university education between the Organisation of Islamic Cooperation and the Republic of Guinea.
The Secretary-General of the OIC stressed the importance of access of youth to higher education, which is a driving force for change in the OIC Member States.
For her part, the Minister expressed her full readiness to strengthen academic and scientific cooperation relations with the OIC and its institutions.

Source:(OIC)

January 25, 2023
Abu Dhabi Sustainability Week 2023: Seychelles President Ramkalawan advocates for Small Island Nations alongside President of Palau during ADSW Summit

19 January 2023 | Foreign Affairs

Abu Dhabi, UAE 19^thJanuary 2023: During the Abu Dhabi Sustainability Week 2023, the President of Republic of Seychelles, Mr Wavel Ramkalawan participated in a panel conversation alongside the President of the Republic of Palau, H.E. Surangel S. Whipps, Jr that was Moderated by Anchor & Correspondent, CNN Eleni Giokos.

During this particular session, the two Heads of State contributed to ADSW Summit by sharing their perspective on the roles and responsibilities of nation leaders in climate control, combating climate change and achieving Net Zero. Through his participation, President Ramkalawan had the opportunity to share real life examples and efforts being implemented by Seychelles as a Small Island Developing State in the Indian Ocean.

“Seychelles, like all SIDS will continue to keep moving forward. Our existence is being threatened. Being small, remote and vulnerable to various external shocks, means we will be not able to overcome these challenges including climate change on our own. We are counting on the support of all stakeholders. The world has become more globalized and multilateralism will be more important than ever to the small states as it provides more access to the global fora, allowing us to be heard, to address our unique social, economic, and environmental challenges and to find solutions together with the rest of the world” said President Ramkalawan.

The session was hosted by Masdar as part of Abu Dhabi Sustainability Week, which convened various world leaders from government, business and finance to take action, as they continue to work collectively to deliver on a climate roadmap for a net-zero future.

President Ramkalawan highlighted some of Seychelles conservation efforts focusing on how Seychelles has now moved to 100 percent protection of all its mangroves and seagrass meadows this year, adding to the already 32 percent protection of its ocean and 50 percent of its forest.

Also aimed at transforming pledges into action requires open dialogue and inclusiveness, with all stakeholders working together to forge partnerships, unlock investment and launch technologies and solutions that will accelerate sustainable development around the world. The event is also playing a vital role in not only advocacy but in ensuring momentum between COP27 and COP28, focusing on a wide range of critical topics including Food and Water Security, Energy Access, Industrial Decarbonization, Health, and Climate Adaptation.

During the moderated in conversation session other topics such as, Impact of climate change on small nations, the importance of the COP process to small nations, examining what the country is doing to adapt to climate change and the latest trends shaping the world’s sustainability agenda were also addressed.

Amongst some of the dignitaries present included the Chairman of the Abu Dhabi Department of Energy, H.E Eng. Awaidha Al Marar who delivered the opening address during the panel session. Also present was the Former President of Seychelles, Mr James Michel, who following the panel discussion expressed appreciation on how President Ramkalawan defended and promoted Seychelles.

Source(Seychelles State House)

January 25, 2023
Seychelles holds successful talks with Masdar UAE in relation to Seychelles’ Energy Generation plan

18 January 2023 | Energy

Abu Dhabi, UAE 18 January 2023: President Wavel Ramkalawan chaired successful discussions with a Masdar delegation, during his participation at the 2023 Abu Dhabi Sustainability Week (ASWD).

The meeting, which was held with the Masdar Chief Green Hydrogen Officer, Mohammad Abdelqader El Ramahi and the Senior Manager of Project Management Services, Simon Bräunigerr, focused on the way forward for the implementation of a comprehensive Seychelles’ Electricity Generation plan.

This is in line with the growth of the Seychelles economy and the increased need to implement an electricity generation plan that will meet the long-term demands associated with the rise in economic activities whilst also addressing the Nationally determined contributions (NDC) commitments made by Seychelles government at COP27.

Seychelles is supportive of a transition towards integration of more renewable energy and the use of cleaner fuel for generation of electricity in the short to medium term. The meeting held yesterday was an opportunity for Seychelles to propose to Masdar several projects for consideration that will get Seychelles on track towards strengthening its role further in the global combat against climate change. Hence, the proposal for implementation various key renewable energy projects proposed for Mahé, Praslin and La Digue.

This includes various Renewable Photo Voltaic (PV) Projects for the above three main islands, in the form of Agri-Voltaic PV, Floating PV Systems, PV plant mounted on elevated structures as well as others. PUC also recognizes the need to transit to a cleaner fuel in the short to medium term, hence discussions with the Masdar team also revolved around potential conventional generation projects such as transitioning to hydrogen.

Following the talks held in Abu Dhabi on Tuesday, confirmation of most suitable and feasible projects will be approved and Memorandums of Understanding between the two entities will be drawn up.

Also present for the discussion from the Seychelles delegation were the Minister for Agriculture, Environment and Climate Change, Mr. Flavien Joubert, the Chief Executive Officer for Public Utilities Corporation, Mr Joel Valmont and the Chief Executive Officer for Meteological Services, Mr Vincent Amelie.

Source:(Seychelles State House)

January 25, 2023
OIC Secretary-General Meets with Foreign Minister of Chad

Jeddah, 24 January 2023
The Secretary-General of the Organization of Islamic Cooperation (OIC), H.E. Mr. Hissein Brahim Taha, met today, January 24, 2023, at the OIC Headquarters in Jeddah, with H.E. Ambassador Mahamat Saleh Annadif, Minister of Foreign Affairs, Chadians Abroad and International Cooperation of the Republic of Chad.During this meeting, the Chadian Foreign Minister reiterated the importance that his country attaches to the role of the OIC, and its support for the efforts deployed by the Secretary-General to achieve the OIC goals.
For his part, the Secretary-General reaffirmed the OIC’s support for the efforts invested by the Republic of Chad to strengthen its stability and promote its development.

Source: (OIC Secretariat)

January 24, 2023