Ghana will gain revenues worth $1 billion next year from its nascent petroleum industry, authorities have projected. Out of the total, participating interest from crude oil will fetch the West African country $537.61 million, corporate income tax – $261.13 million, royalties from the sale of crude – $238.1 million,...
Load shedding has become synonymous in the life of every South African. For 14 years, the country’s power utility – Eskom – has been implementing a complicated system of rolling blackouts on a rotating schedule. But how did Africa’s most developed country, the only nation in the continent to ever...
The COP26 summit started with much fan fare and ended with developing countries being bashed for not making enough commitments to the global climate agenda. South Africa, the region’s most developed country, received the most heat, alongside Brazil, India and China, for pushing for the words “coal to be...
In May, Exxon Mobil pulled out of an offshore project in Ghana, hurting its nascent oil and gas sector. The move was part of a wider push to reduce carbon emissions by the American multinational, but it subsequently forced the government to draft a new investment plan that will accelerate...
A new study commissioned by the United Nations Economic Commission for Africa (UNECA) indicates that 600 million people in the continent lack access to electricity and 900 million have no access to clean cooking fuel. The study titled “Energy Prices in Africa: Transitioning Towards Clean Energy for Africa’s Industrialization”...
As part of its commitment to reduce greenhouse gas emissions in Eastern Africa, the European Investment Bank (EIB) has agreed to invest $95 million in geothermal power projects across the region. The bank also plans to increase sustainable and reliable energy supply and boost energy efficiency in businesses, health centers...
A looming power crisis is about to hit Zimbabwe after a surge in electricity imports from neighboring South Africa overloaded its network and caused generating plants to fail. According to Energy Minister Soda Zhemu, the surge caused a nationwide blackout in the wee hours of Monday morning, as it affected...
Benin will receive a $200 million allocation from the World Bank to boost its efforts to improve access to electricity in the country. The money will be disbursed via the International Development Association (IDA). The electrification project will consist the construction of 2,000 kilometers of medium voltage lines and...
South Sudan is looking to boost oil production and build local refineries as part of a sweeping government effort to revive an economy battered by years of war and a global pandemic. Oil production, which accounts for nearly all of government revenues, has plummeted and according to Bol Ring Mourwel,...
