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- Africa poised for fastest growth in $8 trillion cooling systems market
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Africa
- The market for sustainable cooling systems in developing economies is set to hit $600 billion by 2050. Research shows that sustainable cooling systems can cut cooling-related emissions by almost 50%.
- They can also help lower electricity bills, reduce equipment costs, and power sector investments by $8 trillion by 2050.
- Unlocking finance, in particular private finance, is essential to support the transition to sustainable cooling across developing economies.
Economies in Africa are projected to experience the fastest growth in cooling systems, a new survey by the International Finance Corporation and the UN Environment Programme (UNEP)-led Cool Coalition shows.
Globally, Africa is poised to see her cooling systems industry expand by a factor of seven closely followed by countries in South Asia which will see this market segment quadruple.
“The sustainable cooling market represents at least a 600-billion-dollar opportunity for the private sector, …
- Innovation is the route to business, company, industry and national success story.
- To realize this success, however, governments must create policies that encourage and support innovation at scale.
- For Africa, the jury is still out on the role of governments in driving innovation.
From the developed to emerging to the underdeveloped economies, one thing that policymakers agree is that innovation drives industrial and therefore national progress. It creates opportunity for individuals and investors, grows businesses, and powers a nation’s development agenda. For these reasons, policymakers are advised to place emphasis on innovation.
Matt Banholzer, an economics researcher and author of How innovation can accelerate industry momentum report explains that while macroeconomics concept of development correctly looks at the economy as a whole, policymakers must not be naïve to think policies of the ‘whole’ will foster development of the individual and vice vasa.
The researcher is of the view that policymakers, …
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.
Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.
The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.
Currently, Africa’s power is …
Reliable and affordable telecom services have never been more vital to our national economic and social resilience.
That is why, across Africa and throughout the globe, national leaders and policymakers are prioritising the preservation of satellite broadband access – and why South Africa needs to keep pace with the rest of the world on this critical issue.
The technical details are relatively simple: the most widely useful and applicable satellite services are provided using the Ka-band, also known more widely as the “28 GHz band”.
What kind of useful services?
- Reducing “digital deserts” by bringing broadband internet connectivity to unserved and underserved communities.
- Ensuring near-ubiquitous access and vastly improved quality across the most densely populated urban areas. Among other benefits, the 28 GHz band lets satellite operators deliver the capability to pinpoint configurations of access when demand is at its peak.
- Reducing constraints on access by delivering a wider range
Cases so far have “mainly but not exclusively been identified amongst men who have sex with men,” according to WHO. This new revelation is against known medical knowledge of the disease because the WHO considers monkeypox not to be a sexually transmitted infection.
In a recent media briefing, Dr John Brooks, an epidemiologist with the US Centers for Disease Control and Prevention, explained that “…monkeypox is not a sexually transmitted infection in the typical sense, but it can be transmitted during sexual and intimate contact.”
From there onwards, the disease has continued to spread, as of May 21st the WHO has reported some 92 confirmed cases and 28 suspected ones. In the wake of this outbreak in the UK, other cases have been reported in Spain and Portugal and several other European countries.…
- African Development Fund has approved $5.5 million technical assistance grant to support projects Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan
- The East Africa Regional Energy Project will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group
- It will develop technical studies for regional solar parks and associated battery storage near regional energy inter-connectors, high-voltage cables that connect the electricity systems of neighbouring countries
The African Development Fund has approved a $5.5 million technical assistance grant to begin the roll-out of the flagship Desert to Power initiative in the Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan.
Dubbed the East Africa Regional Energy Project, it will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group.
The project will …
