Friday, March 29

Mali

The Nigeria Morocco Gas Pipeline.Source MWN

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 …

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Energy Resources across Africa.Source Research Gate Oghomwen Igbinovia

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 …

Mali military ruler, President Asimi Goita. He is under pressure to have the elections on February 27 as initially planned. www.theexchange.africa

The main objective of the bloc is to promote economic interdependence and cooperation among member states to raise the living standards and encourage economic development.

Exportation in Mali is already feeling the pressure of the political instability in the country. Exports reduced from CFA552.39 billion in the first quarter of 2021 to CFA495.87 billion in the second quarter.

Mali lists among the poorest nations in the world. According to the 2021 Index of Economic Freedom, absence of property protection rights and a transparent and honest judicial system, and the higher degree of corruption tolerance makes it impossible to achieve greater economic freedom in the country.…

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