AIC News

Ora Developers plans to pump around $1 billion investments in Africa over the coming five years, Naguib Sawiris told the National.

Africa is emerging as a global force in oil and gas markets and its growth in oil and energy demand is forecast to outstrip China in the coming years.

Build Back Better World Initiative launched at the G7 is unlikely to dislodge Chinese dominance in the continent’s infrastructure drive.

For African leaders, led by Félix Tshisekedi, President of the Democratic Republic of the Congo and current Chairperson of the African Union, the focus remained on securing climate finance for responding to climate change in Africa — specifically the $100-billion targeted annually for climate finance to underdeveloped countries, which has not yet been delivered. 

There is presently an undue exploitation of African businesses by international shipping companies. From West zone through North to South and Easter Africa, the continent is being browbeaten in the crucial but relegated maritime transport business.

In Oct. 2016, Zipline started delivering blood products to 21 Rwandan hospitals on-demand, reducing delivery time from four hours by road to within 20 minutes, using drones that travel up to 100 km per hour at a time.

Indeed, the importance of creating an investment-enabling environment is a further key conclusion from the World Oil Outlook. Cumulative oil-related investment requirements amount to $11.8tn in the 2021-2045 period.

Sonangol is finding alternative solutions to find capital to expand its operations.

Egypt has come out on top with Morocco and South Africa the second and third most robust markets for investment, according to the latest Rand Merchant Bank report titled ‘Where to Invest in Africa 2021’.

The African Development Bank has welcomed  $136 million in additional donor commitments for the Sustainable Energy Fund for Africa (SEFA).