Trending
- Trump, Biden, Obama and Africa: Who got it, or will get it right?
- Tanzania on track to achieve food self-sufficiency
- Ghana Heads to Elections Amid a Gripping Economic Crisis
- Egypt’s private sector suffers job cuts in November as optimism fades
- Inflation strains ease slightly, but Nigerian private firms cut jobs and purchases
- Money laundering: The financial cancer killing Africa
- AWS and Bboxx join forces to redefine operational efficiency with AI
- The Billion-Dollar Lobito Railway Key To Biden’ Africa Visit
South Sudan
- The Adani Group indictment points to serious irregularities, including corruption, financial misconduct, and possible violations of international trade laws.
- Kenya’s president William Ruto has cancelled the deeply unpopular Adani’s multimillion-dollar deals for power transmission and airport modernisation projects.
- The indictment against the Adani Group marks a turning point, not just for the conglomerate but for its stakeholders globally.
The Adani Group, headquartered in India, is a multinational conglomerate with varied interests in ports, energy, logistics, and agriculture. Known for its aggressive expansion approach, the company has been crucial in developing critical infrastructure projects globally.
The multi-billion empire, now faces one of its most significant challenges following an indictment that has sent ripples through its vast multinational business empire.
Details of the Adani Group Indictment
Prosecutors in the United States have charged one of Asia’s wealthiest men, Gautam Adani, with securities fraud, conspiracy to commit securities, and wire fraud. The bribery …
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 …
- The costs for South Sudan conflicts could reach a staggering range of between $22 billion and $28 billion over the next five years.
- The cost of war shockingly overpowers the new nation’s 2021/2022 fiscal budget of around $2 billion.
- Poverty is ravaging South Sudan. South Sudanese people lack basic essential services, poor housing, land and property issues limit people returning home in large numbers
Numbers have been a better tool in analysing a very complex scenario, and in this case, South Sudan conflicts put it at a disadvantage economically.
According to a 2015 Oxfam report, depending on the intensity of the conflict, the costs for South Sudan conflicts could reach a staggering range of between $22 billion and $28 billion over the next five years.
The cost of war shockingly overpowers the new nation’s 2021/2022 fiscal budget of around $2 billion. These numbers show how wars suck the life out …
With a view to nation-building and inclusive growth, South Sudan is seeking investment in hydrocarbon exploration, infrastructure development and power generation capacity, with opportunities to be showcased at the upcoming South Sudan Oil & Power 2021 Conference & Exhibition in June.
South Sudan represents one of the fastest-growing frontier markets on the continent, driven by a renewed transitional government with a commitment to economic growth, infrastructure development and an oil revival. Led by H.E. President Salva Kiir, the newly formed unity government is prioritizing infrastructural development and exploration activities, with a view to rebuilding the nation, improving the standard of living and driving associated job and economic opportunities. With a critical infrastructure deficit and growing demand for alternative power generation solutions, South Sudan is characterized by its unique opportunity to build the domestic energy sector – and country – from the ground up.
South Sudan is currently the only commercial …
South Africa which is currently under serious economic situations has also sustained a rather historic slump in the business confidence index in 34 years according to last year’s data.
According to a report by Bloomberg, the statistics compiled by the South African Chamber of Commerce and Industry (SACCI), showed that the business confidence declined to an average of 92.6 from a two-year high record of 95.5 in 2018, that being the lowest record since 1985.
Delays in policy implementation, deteriorating public finances and power cuts which escalated in December 2019 have been associated are crucial factors that define the fate of investment in South Africa and why the index matters.
South Africa’s treasury 2019 budget review shows that real GDP growth in 2019 was expected to grow slowly to 1.5 per cent, and expected to improve moderately to 2.1 per cent in 2021.
On the other mark, Bloomberg highlighted that …
South Sudan traders and businesses are hoping for intermission in the foreign exchange market after the Bank of South Sudan said it would introduce dollars into the market to protect the local currency.
Since after the payment of several months of salaries in arrears in September, South Sudan pound has been weakening against the dollar.
“The pound has lost value in the past two months due to the impact of the recent payment of salaries,” said Central Bank Governor Dier Tong.
About $115.2 million which is about 31 per cent of the currency in circulation was put into the economy for the payments.
Also Read: AfDB funds South Sudan’s capital city power distribution system
In October, South Sudan’s government secured $400 million financings from the Africa Export-Import Bank to pay the salaries and finance infrastructure projects.
Elijah Wamalwa the managing director and CEO of Co-operative Bank of South Sudan said …
The government of South Sudan has managed to commission a $38 million upgraded power distribution system financed by the African Development Bank (AfDB)to restore reliable electricity supply to Juba’s central business district and boost suburban livelihoods.
South Sudan has been recorded as the nation that had worst electricity access in the world, as the Africa Oil and Power report shows that, the power supply stands at just 1 per cent of the population.
The funding that was commissioned on 21st November comes to the rescue of the country that had a devastating conflict, crippling most of its economic systems.
According to the African Development Bank, the Juba Power Distribution System Rehabilitation and Expansion Project is the first in a series of major energy sector interventions by the Bank to improve livelihoods and build resilience in South Sudan. As its counterpart contribution, the government provided land for the construction of five …
Egypt and South Sudan signed a Memorandum of Understanding in regard to cooperation in the field of downstream oil and gas, during the South Sudan Oil & Power (SSOP) 2019 Conference.
South Sudan will launch its first-ever licensing agreement in the first quarter of 2020 in regard to the 13 blocks onshore which will be open for tender.
As a testimony to the country’s growing attractiveness as an investment destination, the country hosted delegations and officials from Kenya, Ethiopia, Egypt, Somalia, Norway, United States and South Africa to discuss oil and future oil investments.
The Minister of Petroleum of South Sudan, Daniel Awow Chuang, expressed the country’s vision in the oil and gas sector which is experiencing increased production numbers.
“The oil production in South Sudan has reached 178 000 barrels per day. We hope to reach 250 000 barrels per day in the near future. …
