Issue 496 PDF: As COP28 opens in Dubai, Africa is left behind in global climate finance boom

African Energy 496 cover
Issue 496 - 01 Dec 2023

As COP28 opens in Dubai, African Energy leads with an examination of climate finance, an area where the continent is being left behind as a result of poor infrastructure, weak governance and other issues. African Energy assesses the data and what needs to change if Africa is to hit its climate change targets.

COP coverage continues with a look at the likely themes and opening moves, which included the inaugural $420m capitalisation of the Loss and Damage Fund and the leak of COP28 president Sultan Al-Jaber's briefing notes .

African Energy takes a closer look at Somalia, which is edging back towards normality with membership of the East African Community and reported progress in tackling Al-Shabaab militants.

Power coverage leads with Zambia, where state-owned utility Zesco is looking for a new renewable energy contractor, having put on hold a 2.4GW solar PV development with China’s CiEG, while the government has yet to implement its multilateral debt deal amid a lack of foreign currency and financing.

African Energy also looks at eSwatini, which is working to increase the contribution of renewable energy to the energy mix and end years of dependence on imported electricity.

The issue also examines the latest twist in the DRC’s Grand Inga saga, with the World Bank Group back in the game, more than seven years after it suspended funding for the first phase of the mega-scheme.

Oil and gas coverage leads with a focuses on Mauritania and Senegal where the GTA and Sangomar projects are advancing after ship-related issues, while much-anticipated results from Shell’s wildcat well in Mauritania’s Block C10 have disappointed.

There are also updates on Equatorial Guinea’s offshore, Angola's latest bid round and exploration in Namibia's Orange Basin.

The African Energy View focuses on a return of currency crises, which are making it difficult for international firms to repatriate profits and causing projects to stall.  

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