Browsing: Egypt

Green Hydrogen
  • Africa has a capacity of 125GW of hydrogen, second only to wind in terms of renewable energy.
  • The Africa Green Hydrogen Alliance (AGHA) aims to produce 30-60 million tonnes of clean hydrogen annually to add up to $126 billion to the continent’s GDP by 2050.
  • The gas is an environmentally positive fuel with low emissions when produced with electrolysis powered by renewable energy.

There’s a new powerhouse in African renewables. And it has plenty of experts talking about it. The report “The State of African Energy 2Q 2023 Outlook,” recently released by The African Energy Chamber (AEC), discusses the current and future projections for renewables on the continent. The most exciting finding is the competitive growth within the hydrogen electrolyzer space.

Africa’s current announced capacity of hydrogen, of about 125 gigawatts (GW), has overtaken solar capacity on the continent and is now second only to wind when it comes to …

The Grand Ethiopian Renaissance Dam GERD
  • The Grand Ethiopian Renaissance Dam (GERD) impact on downstream nations Egypt and Sudan has turned the project into a geopolitical hotspot.
  • The three countries expect to find common ground on the Nile dam’s construction in about four months.
  • Egypt’s concerns are rooted in its dependence on the Nile waters for the livelihoods of its over 100 million people.

The Grand Ethiopian Renaissance Dam (GERD), perched on the Blue Nile, stands as a symbol of Ethiopia’s ambitions for progress, energy independence, and economic growth. However, the $4.6 billion dam’s colossal impact on downstream nations, particularly Egypt and Sudan, has transformed this engineering marvel into a geopolitical hotspot.

Negotiations over the fate of the GERD are back on, with leaders of Egypt, Ethiopia, and Sudan expressing their intent to find common ground within a four-month window.

The stakes are high. Egypt relies on the Nile’s waters for agricultural sustenance and the livelihoods …

E-Mobility adoption in Africa gaining popularity.

Africa’s e-mobility is gaining momentum, largely driven by the daunting climate change crisis, fueling the need to decarbonize transport systems. African countries remain in pursuit of e-mobility solutions and advancement to low-carbon economies. Africa’s endowment with minerals key to the global green transition offers a significant advantage.…

River Nile Delta Fish Farming

Egypt’s Nile River Delta is the cornerstone of North Africa’s economy. Boasting a pivotal role in Egypt’s GDP, its fisheries, aquaculture, agriculture, and tourism sectors contribute an impressive 20 per cent to the nation’s economic output.
The Nile River Delta, a verdant stretch spanning 240 kilometers along Egypt’s northern Mediterranean coast, holds a unique significance. Occupying merely 2 per cent to 3 per cent of the country’s landmass, the Delta is home to four out of 10 people living in Egypt today.…

MTN Halan
  • Egypt has overtaken Nigeria by raising $540 million in tech startup funding in the year to June 2023.
  • This year, Egypt achieved a major milestone by creating its first unicorn, MNT-Halan.
  • In the year to June 2022, the Big FourNigeria, Kenya, South Africa and Egyptjointly raised $4.6 billion. This was a 25 per cent drop from the $710 million raised previously. 

Egypt is today the leading market across Africa with total equity in tech funding raised by start-ups in the last one year surpassing rival Nigeria. Data from the African Private Equity and Venture Capital Association (AVCA) shows that the North African country overtook Nigeria as start-ups raised $540 million in funding in the year to June 2023. 

This was, however, a 25 per cent drop from the $710 million raised the previous year. The least decline recorded among the big four African countries

Infrastructure investment Africa

Population growth and economic development have necessitated speeding up and scaling up infrastructure development in Africa. Over 28 African nations have seen population growth of more than double in the last 30 years. The population of 26 other African countries will quadruple over the next 30 years. Consequently, funding for the continent’s infrastructure has become essential.…

Climate Change Floods
  • Lender AfDB is looking to harness global equity funds to finance climate change mitigation in Africa.
  • AfDB statistics show that only 14 percent of $29.5 billion that was invested in climate finance for Africa in 2020 was from the private sector.
  • AfDB is set to hold climate change financing meeting in Sharm El Sheikh, Egypt, this May.

An increasing number of people across Africa are grappling with unpredictable but definite cycles of failed rains, flash floods or severe drought as climate change-induced weather patterns become the norm in the continent that is one of the least polluters globally.

“Africa, the continent that pollutes the planet the least, is today one of the world’s most vulnerable to climate risks,” admits the African Development Bank.

In many countries in Africa today, it is nearly impossible for farmers to practice rain-fed agriculture, which is the primary option for 99 percent of agricultural production …

Johannesburg South Africa
  • Nigeria, South Africa, Egypt, Morocco, and Kenya are all expected to raise borrowing costs within the next two weeks
  • In contrast, monetary authorities in countries such as Ghana and Angola, where inflation is on a downward trend, are expected to maintain current rate
  • US monetary tightening could slow due to banking turmoil, weakening demand for the dollar.  

Major central banks in Africa are preparing to raise interest rates in order to combat persistent inflation and prevent a sell-off in their assets exacerbated by an uncertain financial system following the recent collapse of US lender Silicon Valley Bank and stress at Credit Suisse Group AG.

Nigeria, South Africa, Egypt, Morocco, and Kenya are all expected to raise borrowing costs within the next two weeks.

In contrast, monetary authorities in countries such as Ghana and Angola, where inflation is on a downward trend, are expected to maintain current rates. Six smaller African

Green bonds can be used to finance the infrastructure needed to finance alternative and renewable sources of energy
  • Zimbabwe is experiencing crippling power outages characterized by black-outs that can extend to as much as 19 hours a day.
  • The electricity shortage is now common place with South Africa recently announcing Stage 6 power cuts.
  • The debt capital markets, specifically the issuance of green bonds is a possible solution to rolling black-outs.

Zimbabwe is in the middle of a power crisis that can be attributed to the low water levels at the country’s Kariba Dam which has in times past been used to supplement the country’s power needs. Power outages are a part of every day living in the country.

However, the latest power crisis seems to be more intense threatening to scupper economic growth. Businesses and citizens have had to adjust to erratic power supply schedules. It is now commonplace for people to wake up at midnight to iron their clothes and use their electric appliances as this …

An artisanal cobalt miner in the DR Congo. The DR Congo has 70 per cent of the world’s cobalt and enormous deposits of lithium which are critical to the clean energy shift.

For Africa, energy security should come first due to the fact that the continent is the least polluter but it bears a disproportionate burden wrought on by climate change impacts. From 1850-2020, according to analysts, Africa’s global emissions contribution have remained below 3 per cent. However, the continent lost about 5– 15 per cent of GDP per capita growth annually from 1986 – 2015. 

With the aggressive shift to clean energy, Africa risks even worse human and economic crises due to the multipronged dangers of climate change and the possible displacements caused by mining activities. 

Already, climate change-related catastrophes have triggered internal displacement of 2.6 million people going by 2021 estimates. Violence and displacement are some outcomes of climate-related disasters which leaves millions facing acute food shortages and increasing vulnerability. If mining in the DR Congo, and Africa at large, continues as it has for decades, then the displacements, hunger …