Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Mali on First Review under Extended Credit Facility (ECF) Arrangement

A team from the International Monetary Fund (IMF), led by Boriana Yontcheva, visited Bamako during November 19-29, 2019

Economic growth is expected to reach 5 percent in 2019 and over the medium term, despite the challenging security situation, reflecting some resilience in the economy; The fiscal deficit is expected to meet the West African Economic and Monetary Union (WAEMU)’s convergence criteria of 3 percent of GDP in 2019;…

Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

Algeria’s Sonelgaz and Equatorial Guinea’s Sonagas sign a Cooperation Agreement in the Gas Sector

Equatorial Guinea is currently developing its Gas Megahub project which aims to make the country a regional hub for gas distribution

The Memorandum of Understanding covers the regulatory framework for the gas sector, the transport and distribution of gas through pipelines, the supply and installation of gas meters and all other areas of the energy sector of mutual interest; the Algerian government is focused on strengthening the role of its gas…

African Energy Chamber
Source: African Energy Chamber |

5th Gas Summit of the Gas Exporting Countries Forum (GECF) Summit Confirms Africa’s Potential as Future Global Gas Investment Hub

Half of the Forum’s members are African, including Algeria, Egypt, Equatorial Guinea, Libya, Nigeria and Angola, who was the last member to join in 2018

The 5th Gas Summit of the Gas Exporting Countries Forum (GECF) is convening in Malabo, Equatorial Guinea this week, attended by heads of state of GECF Member Countries and hundreds of African executives and leaders of the gas industry. As natural gas becomes a central pivot of Africa’s energy transition,…

Source: African Energy Chamber |

João Marques: It’s Time to Negotiate for a Better Future for Africa’s Energy Industry (By João Marques)

By enhancing production and streamlining resource management, African countries can finally have the capital to invest in industrialization and in the diversification of their economies

By João Marques If you go to Amazon.com to purchase NJ Ayuk’s most recent book “Billions at Play: The Future of African Oil and Doing Deals”, which you absolutely should do, you will notice that besides his previous book, “Big Barrels: African Oil and Gas and the Quest for Success”,…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV and Program Review Mission to Madagascar

An International Monetary Fund (IMF) mission led by Charalambos Tsangarides, mission chief for Madagascar, visited Antananarivo from November 11 to 25

IMF staff and the authorities reached staff-level agreement for the sixth program review, subject to approval by IMF management and the Executive Board; The implementation of the authorities’ program supported by the Extended Credit Facility (ECF) arrangement has remained satisfactory; The authorities’ plan to increase public investment and social spending…

African Energy Chamber
Source: African Energy Chamber |

NJ Ayuk: Stop giving us aid, it's killing us!

Africa needs long-established support

Looking at Africa and only pushing for aid is not in the interest of the everyday Africans. It is about the egos of the elites and latte intellectuals who believe they have the solutions to why the continent is still poor. As Africa’s population and economies surge, greater opportunities for…

Source: Siemens AG |

Tangible solutions to Ethiopia’s energy and infrastructure challenges

German corporate collaborates with smaller company to implement a viable solution in Africa

Contributing to improving Ethiopia’s energy infrastructure; German corporate collaborates with smaller company to implement a viable solution in Africa; creating jobs, providing training and developing local value chains In April 2019 Siemens (Siemens.com) signed a Memorandum of Understanding (MoU) with the Investment Commission of Ethiopia, to address the country’s energy…

Source: UNICEF, Middle East and North Africa |

Children’s rights progress in the Middle East and North Africa despite lasting inequality and conflict

From Ted Chaiban, UNICEF Regional Director for the Middle East and North Africa ahead of 30 years since the Convention on the Rights of the Child

By Ted Chaiban “Thirty years since the Convention on the Rights of the Child was adopted, the Middle East and North Africa has seen notable progress in children’s rights, despite issues with governance, inequality, poverty and conflicts. Through near-universal vaccination coverage, improved basic healthcare, water treatment and sanitation, most countries…

Source: Vantage Capital Group |

Vantage exits its Genser Ghana investment

When Vantage invested in March 2013, Genser had built and operated two power facilities with a combined output of 35 megawatts

Vantage Capital (VantageCapital.co.za), Africa’s largest independent mezzanine fund, announced this week that it successfully exited its $18.5 million mezzanine investment in Genser Energy, a management-owned, independent power producer.  Genser provides distributed power generation solutions in Ghana to multinational industrial and mining companies including Gold Fields Ghana Limited, Kinross Gold Corporation, and more recently, Perseus Mining Limited and Golden Star Resources. Vantage’s exit was financed by a consortium of South African banks including Standard Bank,…

African Energy Chamber
Source: African Energy Chamber |

Demonizing Oil and Gas companies is not a constructive way forward on energy transition. Africa will push for “the Right to Drill”

African nations must and will take advantage of their hydrocarbon resources for economic development. Environmental sustainability is a part of it, not an impediment

In an article written for the Guardian newspaper this week, Nobel Peace Prize Winner Archbishop Desmond Tutu of South Africa argued for an Apartheid-style boycott on coal, oil and gas companies as a solution to fight climate change and help ensure global environmental sustainability goals. “We must stop climate change.…