The AfCFTA was created in March 2018, with the expectation of tying a USD 3 Trillion regional market with over USD 80 Billion in untapped intra-regional exports[1]. Of course, an agreement of this magnitude would have underlying protocols and arrangements for operational reasons.
The EU Sustainable Energy Week (EUSEW), which took place virtually from October 25th-29th 2021, was celebrated under this year’s banner ‘Towards 2030: Reshaping the European Energy System’ just before COP26 kicked off in Glasgow.
As a usual practice, in 2020, the WEC prepared the annual World Energy Trilemma Index intending to shed light on the relative energy performance of different countries, which were assessed in relation to energy security, energy equity, and environmental sustainability.
During the negotiations of the African Continental Free Trade Area (“AfCFTA”), the member states of the African Union agreed to create a single liberalized services market to boost
Germany intends to phase out coal use by 2030, eight years sooner than previously envisaged. The country intends to generate 80 percent of its electricity through renewable sources in the same year. According to the BBC, Olaf Scholz, the Social Democratic Party’s leader, unveiled the idea in November 2021 as part of a pact that would see the former vice-chancellor, who would succeed Angela Merkel as chancellor, lead a three-way coalition with the Greens and Free Democrats.
Following the launch of Centurion Law Group’s Africa Investment Guide Series, with the Nigeria Guide spearheading the launch, the Zimbabwe Guide is now available to the market.
At the COP26 Summit, South Africa announced that it secured $8.5 billion in grants and low-interest loans over the next five years. The program, which is funded by the United States, the United Kingdom, France, Germany, and the European Union, aims to achieve the lower bound of South Africa’s Paris Agreement emission targets, which aim to limit global temperature increase to 1.5 degrees celsius above pre-industrial levels.
The legal action filed on behalf of investors alleges that Hawilti and its French Citizen Director, Mickael Vogel knowingly deceived investors in 2019 to collect funding for the business without having any intentions of giving out shares.
Africa is on the verge of a revolution in the energy sector with substantial resources, progressive legislation, and industry-leading policies and initiatives propelling growth in the oil, gas, and renewable energy sectors.
Qair, an independent French renewable energy producer, and STOA, an investment fund of the Caisse des Dépôts (CDC) and the Agence Française de Développement (AFD), launched the joint platform MIHIA Holding (Make It Happen In Africa) in October 2021 to invest in African renewable energy projects beginning with a 24 MWp solar project in Burkina Faso.
As The Africa Report pinpointed, numerous African ministers and leaders promised to attend COP26 in Glasgow. Among others, these included Botswana’s Minister for Mineral Resources, Green Technology and Energy Security Lefoko Moagi, the President of the Democratic Republic of the Congo Félix Tshisekedi, the President of the Congo Republic Denis Sassou-Nguesso, the President of Gabon Ali Bongo Ondimba, Gabon’s Minister of Environment and Forestry Lee White, and Rwanda’s Minister of Environment Jeanne d’Arc Mujawamariya.
Just a month ago, Jordan reopened the border to Syria in an attempt to stimulate trade and provoke an economic recovery of both countries. Whereas Jordan’s economy is dealing with a high rate of unemployment (48%), spiraling debt, scarcity of investments and widening external balances, Syria’s economy has been battered by the decade-long war, internal displacement, humanitarian catastrophe and the devastating influence of the COVID-19 pandemic.