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The government of Ghana signed a memorandum of understanding with the Nairobi-based African Trade Insurance Agency (ATI) on 8 September, giving power producers access to the agency’s regional liquidity support facility (RLSF).

Ghana
Issue 469 - 30 September 2022

ADBF gains pula listing on BSE

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The African Domestic Bond Fund (ADBF) listed in the local pula currency on the Botswana Stock Exchange (BSE) on 15 September.

Botswana
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President Cyril Ramaphosa is once again promising strong action to deal with South Africa’s electricity supply crisis, with new appointments expected at the beleaguered state utility Eskom to reinvigorate the board. Among the changes that have been mooted is replacing chief executive André de Ruyter, although that has yet to be confirmed. Measures to increase generation and ease load shedding that were announced by the president in July are also now being implemented at pace.

South Africa
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An imminent increase in pump prices is expected, with the Zambian government planning to reinstate value-added tax (VAT) and excise duty from 1 October in an effort to make prices more closely aligned with market realities.

Zambia
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Parastatal Société Nationale de Raffinage (Sonara) has agreed to restructure its debt with Dutch energy and commodity trading house Vitol. Sonara is the sole importer of refined products into Cameroon. It also has an 80% stake in, and operates the country’s only refinery, Limbe.

Cameroon
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Project bulletin

The United States International Development Finance Corporation (DFC) has signed a commitment to lend $25m to the 20MWp Golomoti solar PV and a 5MW/10MWh battery energy storage system (Bess).

Malawi
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Island nations Seychelles, Mauritius and Comoros are assessing initiatives to encourage more private investment in renewable energy, according to a World Bank Group (WBG) report published on 20 September.

Mauritius | Seychelles | Comoros
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Japan’s pledge to invest some $30bn in Africa over the next three years has underlined the Asian economic giant’s commitment to rapidly advance its relations, as well as to expand its presence, on a continent where Tokyo’s involvement has too often lagged behind other big nations.

Kenya | Egypt | Ethiopia | South Africa | Tunisia
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Planning is well under way for the Continental System Master Plan, but this unprecedentedly ambitious development for Africa’s electricity supply industry still faces huge hurdles, which must be overcome before the scheme to connect every utility and power pool in Africa via a continent-wide transmission grid can be implemented. African Energy staff have examined the progress to date and assessed how this may galvanise the stuttering progress of existing transnational interconnection projects, with data support from Vendela Werkeli.

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Twelve Southern African Development Community (SADC) projects spanning the energy, water and transport sectors have been selected by the regional bloc’s Project Preparation Development Facility (PPDF) to receive a total of $20.2m in project preparation funding. The projects are to be funded by the European Union (EU) and Germany’s KfW Bank, SADC said.

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The International Monetary Fund (IMF)’s 38-month extended credit facility (ECF) deal, approved on 31 August, gives priority to “optimising and strategically divesting” state utility Zesco’s operating assets from 2023, as a key element in reforms to the electricity supply industry.

Zambia
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Zambia has, in the past 12 months – and with a new International Monetary Fund facility now in place – sought to reform petroleum trading, to help reduce the government’s liabilities, including some $500m in arrears to fuel suppliers, and ensure pump prices becomes more responsive to market dynamics.

Zambia
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A wind of change is blowing through Seeg, whose electricity and water activities are to be split into two companies under a new chief executive, but the Gabonese state utility remains dogged by structural problems, including large debts owed by state entities and under-investment in the grid – all of which makes Seeg’s potential privatisation a huge challenge.

Gabon
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Price hikes are expected to follow Zambia’s $1.3bn IMF bailout package, which should help to consolidate economic gains made in the last year. But further reform, including the divestment of state utility Zesco’s operating assets, is causing some trepidation among Zambians.

Zambia
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Eni has announced the completion of its acquisition of UK supermajor BP’s assets in Algeria, including working interests in the In Amenas (45.89%) and In Salah (33.15%) gas fields, which together produced 11bcm in 2021. The purchase adds to a flow of recent deals has buttressed Eni’s position as the leading international oil company (IOC) in north-west Africa.

Algeria