Browsing: Egypt

Egypt Africa Press

The Julius Nyerere Hydropower dam is an ambitious energy project and one of its kind across East Africa, with the capacity to generate 2,115 megawatts. The project cost $2.6 billion and is currently the most significant contract handled by Egyptian companies in Africa.

In August, it was reported by the Tanzanian Minister of Energy, January Makamba, that construction of the dam reached 67.18 per cent. The real work on the ground kickstarted in December 2018, which spanned out Tanzania’s government’s ambition to enrich its energy capacity from all fronts.

Further, the dam is 131 meters high and 1,025 meters long at the summit. The constructors managed to complete the tasks 687 days after the diversion of the river in November 2020 (Tanzania Times).

Tanzania’s electricity generation is comprised of several sources. Hence the dam stands to vitalize power availability and change the state of installed capacity. At least 48 per …

Coral Sul FLNG floating plant deep offshore the Mozambique coast. www.theexchange.africa

According to an article by Maritime Executive published August 17, 2022, since May Senegal and Germany have been working together to fast-track the completion of the BP-led Greater Tortue Ahmeyim (GTA) LNG project. The offshore field straddles the border between Senegal and Mauritania and is set to produce 2.5 million tons of LNG in the first phase. Plans call for output to double to 5 million tons in the second phase.

Earlier, Kosmos Energy, which is developing the GTA field with BP, said phase one is 80 percent complete. Senegal is now reporting that it will be ready to export its first LNG cargo to Europe in 2024 when production at Tortue Gas project is scheduled to start.

“Senegal will be able to sell its quota to Europe, especially Germany already, in the second half of 2024,” Mamadou Fall Kane, deputy permanent secretary of COZ-Petrogas, the government committee that monitors …

MEA fert
  • The African Fertiliser and Agribusiness Partnership (AFAP) notes that over 40 per cent of African soils face nutrient depletion because of failure to apply sufficient levels of fertilisers
  • Farmers in most countries are increasing their application levels, with the fertiliser application rate in Sub-Saharan Africa expected to increase to 22 kilograms per hectare by the end of 2022
  • In Africa, the production of the material is concentrated in the northern parts of the continent

A study by the African Development Bank Group in 2019 revealed that most African countries depend on imported fertilisers for agricultural production.

The imports are mainly due to the lack of low-cost raw materials for production, low utilisation and high capital requirements for investment in production facilities.

According to the African Fertiliser and Agribusiness Partnership (AFAP), over 40 per cent of African soils face nutrient depletion, partly because of a failure to apply sufficient levels of

Buhari
  • According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves
  • Despite being endowed with these resources, the continent still lags in development partly due to colonisation and corruption
  • By 2050, the African economy is expected to reach a Gross Domestic Product (GDP) of US$29, driven by agricultural, trade, and natural resources investments
  • Nigeria has the largest economy in Africa, followed by South Africa and Egypt
Africa is a blessed continent with a large quantity of natural resources, renewables and non-renewables.
According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves, eight per cent of the world’s natural Gas and 12 per cent of the world’s oil reserves.
“The continent has 40 per cent of the world’s gold and up to 90 per cent of its chromium and platinum. The world’s largest reserves
Biden backs Egypt's water security as Ethiopia prepares for the third GERD filling. www.theexchange.africa

Egypt and Sudan, both of which are located further downstream on the Nile, on the one hand, and Ethiopia, which is located upstream on the Blue Nile, on the other, have been engaged in a protracted disagreement on the construction of the GERD.

The two former countries are dependent on the waters of the Nile, and they are afraid that the reservoir being filled behind the dam will reduce the amount of water available to them. The reservoir has a capacity of 74 cubic kilometres, which is equivalent to 1.6 years of the average flow of the Blue Nile.

The Nile provides Egypt with 90 per cent of its fresh water and is essential to the country’s agricultural and power generation systems.

It is estimated that the filling will take seven years to complete, with the first two stages already having been finished. According to statements made before the end …

Africa is rich in oil and gas, with some of the world’s greatest natural gas reserves. www.theexchange.africa

The European Union has imposed restrictions, including a partial oil embargo on Russia. The sanctions will see the E.U. ban seaborne imports of Russian crude oil by the end of 2022. Additionally, petroleum product imports would stand prohibited by early 2023. European Commission President Ursula von der Leyen reiterates the E.U. plans to reduce reliance on Russian fossil resources by 2027.

Because of the European Union’s political determination to minimize its reliance on Russia in response to Moscow’s invasion of Ukraine, the E.U. is now searching for alternative suppliers. The search implies that suppliers such as Africa’s underdeveloped frontier energy markets may discover new energy markets in Europe. Optimism remains high since it is clear the E.U. no longer rely on Russian gas. Russia has for years remained a primary gas supplier in Europe.…

Egypt, Saudi Arabia seal deals worth $7.7 bln on crown prince's visit www.theexchange.africa

According to data obtained from Egypt’s Central Agency for Public Mobilization and Statistics, the value of trade between Egypt and Saudi Arabia increased by 62.1 per cent to US$9.1 billion in 2021, up from US$5.6 billion in 2020. This figure represents a significant increase.

Increased by 17.3 per cent from US$1.9 billion in 2020 to US$2.2 billion in 2021, the value of Egyptian exports to Saudi Arabia reached US$2.2 billion in 2021.

The value of Egyptian imports from the Kingdom increased by 84.5 per cent, reaching US$6.9 billion in 2021, compared to US$3.7 billion in the previous year.…

WHEAT HARVESTING

Dangote also plans to launch an oil refinery that would produce 650,000 barrels per day. Currently, the Dangote Group is the second-largest employer in Nigeria after the federal government, and a new plant is a tremendous opportunity to replace Russian fertilizer imports with African jobs that create warehousing, transport, and logistics infrastructure that help to reduce poverty.

Global wheat, sunflower, and oil crude prices have soared to unprecedented levels. Africa is heavily reliant on food imports from both countries, and the Continent is already experiencing price shocks and disruptions in the supply chain of these commodities.

Over the past decade, the Continent has seen growing demand for cereal crops, including wheat and sunflower, which has been mainly supported by imports than local production. Africa's wheat imports increased by 68 per cent between 2007 to 2019, surging to 47 million tonnes.…

Six African nations launch the Africa Green Hydrogen Alliance. www.theexchange.africa
  • The Africa Green Hydrogen Alliance targets accelerating the transition from fossil fuels overreliance that has made the continent reluctant, as fossil fuels drive most economies in the continent
  • Green hydrogen could provide Africans with new access to cleaner energy sources, employment opportunities, public health benefits due to cleaner air, GDP creation and export revenues outside Africa
  • Six African nations have formally launched the Africa Green Hydrogen Alliance. The countries include South Africa, Kenya, Egypt, Morocco, Namibia and Mauritania

Six African nations have formally launched the Africa Green Hydrogen Alliance. The Alliance aims to make Africa a pioneer in adopting cleaner energy sources by producing green hydrogen.

The countries include South Africa, Kenya, Egypt, Morocco, Namibia and Mauritania.

The countries formally launched the Alliance at the first-ever Green Hydrogen Global Assembly in Barcelona, Spain, with the support of the UN Climate Change High-Level Champions, the Green Hydrogen Organisation (GH2), …

Egypt to privatise key state companies amid Rising Inflation www.theexchange.africa

Investors brought in after the 2016 IMF-scrutinised reforms are becoming increasingly sceptical of the Egyptian government’s finances, which is causing the price of Egypt’s dollar-denominated Eurobond in 2032 to plummet approximately 75 cents on the dollar at present.

This indicates that Egypt will have to pay higher interest rates if it wants to issue more bonds, even though the country is attempting to spread its debt with green, sharia-compliant, and yen-denominated samurai bonds.

In recent years, there has been a “quite large” rise in Egypt’s debt that has been issued in foreign currency, according to James Swanston, an economist at Capital Economics who specialises in the Middle East and North Africa.…