News
AfDB Convenes Africa Energy Market Place
Public, private and civil society stakeholders, including government agencies, development partners and investors in the energy sector began a two-day workshop yesterday to discuss the technical, commercial, regulatory and financial issues in Africa’s fast-growing Energy market.
The inaugural edition of the Africa Energy Market Place (AEMP) brought together more than 300 participants and featured case studies from five countries – Côte d’Ivoire, Egypt, Ethiopia, Nigeria, and Zambia. Representatives from each country delivered presentations on the accomplishments, investment opportunities, challenges, and the long-term outlook for their respective energy industries.
In his welcome address, African Development Bank President Akinwumi Adesina, underscored the dire situation of Africa’s energy environment. “Africa has a lot of energy potential but potential doesn’t create anything … We cannot continue to accept Africa being referred to as the ‘dark continent’. We need to act speedily to accelerate our plans to light up and power Africa,” Adesina said.
The Bank has made a $12billion investment commitment to its New Deal on Energy for Africa program. Sub-Saharan Africa currently has 14% of the world’s population and accounts for 4% of global energy investment.
Analysts at the Bank note that several countries, including Ethiopia, Gabon, Ghana and Kenya, are on track to reaching universal electricity access by 2030.
Participants at the AEMP had insightful and thought-provoking discussions in country-focused workgroup sessions, looking at identifying quick wins in sustainable financing models, commercial and investment prospects, energy access and efficiency and regulatory reforms. Discussions also focused on governance, risk management, beyond-the-grid and renewable energy solutions, training and capacity building.
The AEMP is an industry-wide, collaborative platform convened by the African Development Bank to address barriers to mobilizing and scaling-up private investment into the energy sector by bringing together key stakeholders in the continent’s energy sector.
Specifically, it seeks to address Africa’s dismal energy and electricity production and consumption, which currently stands at 150kWh/capita.
Declaring the event open, Jacques Chevalier, the Director of Cabinet of Côte d’Ivoire’s Petrol and Renewable Energy Development Ministry observed that energy plays a critical role in Africa’s economic transformation, particularly in improving the living conditions of Africans.
“Côte d’Ivoire is fully committed to total electrification of the country and we welcome the foresight and vision of the African Development Bank, especially with respect to the Bank’s Light Up and Power Africa initiative,” Chevalier said.
The issues discussed during the AEMP are based on the latest research by the Bank and on inputs received from governments, according to Amadou Hott, African Development Bank’s Vice President in charge of Power, Energy, Climate and Green Energy complex.
The next AEMP meeting to review the progression of projects and investment opportunities in the sector will be on the sidelines of the Africa Investment Forum (AIF) scheduled in Johannesburg, South Africa in November 2018.
AEMP development partners include Power Africa, European Investment Bank, Africa50, the Asian Infrastructure Investment Bank, the International Finance Corporation, the European Union, New Development Bank, the Department for International Development, Japan’s Development Agency (JICA), Agence Francaise Developpement, Kfw, the German Development Agency
The AEMP initiative is part of the ‘New Deal on Energy for Africa’ program, a transformative partnership to light up and power Africa by 2025.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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