Warning
  • JUser: :_load: Unable to load user with ID: 27832

Sonangol Says Bureaucracy Is Not Favoring Oil Development In Angola

In a meeting with João Lourenço, the new President of Angolan, Sonangol EP, along with several oil operators, said bureaucracy in the oil sector is ‘unfavorable to the overall development of the industry.’

Reinforcing the alignment with the concerns of Sonangol's partners, and anticipating some solutions, the statutes of Sonangol have recently been revised in light of these identified issues.

A hierarchical level has thus been eliminated in the approval pyramid, which will make the whole process of analysis much faster, including approvals of the operators' dossiers.

Other critical areas for improvement have also been identified, which require total dedication and specialization due to their importance in the business. These include: the management of the concessionaire; the review of old approval processes that have long existed within the company; and the replacement of the Ex-CEO who oversaw the concessionaire's management and the relationship with its operators.

These functions are now being carried out by two Directors who guarantee full commitment to the best management practices and the appropriate treatment of the challenges to the sector.

In the recent meeting with the President, Sonangol's commitment to the ultimate goal of defending and protecting the interests of the Angolan State were reaffirmed.

Sonangol has maintained a constant and transparent dialogue between the operators, the company and the government in order to advance the interests of the national industry.

In July of this year, Sonangol held an international roadshow at the headquarters of the main oil companies to discuss investment plans in Angola and the challenges facing the industry. This event was accompanied by meetings held with each of the operators based in Angola.

Sonangol reached an agreement with the operators to significantly increase the competitiveness of the national oil industry. As a result, production costs per barrel fell by 48% from 2014 to 2016, and cost-cutting and investment efforts led by Sonangol resulted in additional savings of US $ 1.7B in 2017.

Sonangol has also worked with the operators to identify new investment opportunities. Despite the reduction of recent investment in Angola, which is no more than a reflection and consequence of reduced investment worldwide, there are still very interesting opportunities in both oil and gas, which is enough to keep production levels attracting profitability for the long-term future.

In Sonangol's opinion, investment in this opportunity goes through for better management of costs and projects in industry.

The meeting ended with a strengthened feeling that the company is on the right track and in total harmony with our partners in responding to the challenges facing the industry.

The creation of a joint team led by the Ministry of Petroleum, which includes the Ministry of Finance and Sonangol, show the alignment of the main decision-makers in the analysis of the most competitive framework for this sector in Angola.

 

The Board of Directors at Sonangol remains highly involved and strongly committed, together with all the players of the national oil industry, to fulfill its mission of increasing revenues for the Angolan State.

Africa Eyes $1trn Food Market To Restart African Economic Growth

The Africa Agriculture Status Report, which was launched this week in Abidjan, the capital of Ivory Coast, at this year’s African Green Revolution Forum (AGRF) in Cote d’Ivoire, says that a growing food market in Africa, which may be worth more than $1 trillion each year by 2030, will substitute imports with high value food made in Africa.

According to the report, agriculture will be Africa’s quiet revolution, with a focus on SMEs and smallholder farmers creating the high productivity jobs and sustainable economic growth that failed to materialise from mineral deposits and increased urbanisation.

Despite 37 percent of the population now living in urban centres, most jobs have been created in lower paid, less productive services rather than in industry, with this service sector accounting for more than half of the continent’s GDP. Smart investments in the food system can change this picture dramatically if planned correctly.

Dr. Agnes Kalibata, President of the Alliance for a Green Revolution in Africa which commissioned the study said Africa has the latent natural resources, skills, human and land capacity to tip the balance of payments and move from importer to exporter by eating food made in Africa.

“This report shows us that agriculture involving an inclusive transformation that goes beyond the farm to agri-businesses will be Africa’s surest and fastest path to that new level of prosperity.” She said.

To succeed, Africa’s agricultural revolution needs to be very different to those seen in the rest of world. It requires an inclusive approach that links millions of small farms to agribusinesses, creating extended food supply chains and employment opportunities for millions including those that will transition from farming.

This is in contrast to the model often seen elsewhere in the world of moving to large scale commercial farming and food processing, which employs relatively few people and requires high levels of capital.

The report highlights the opportunity for Africa to feed the continent with food made in Africa that meets the growing demand of affluent, fast growing urban populations on the continent looking for high value processed and pre-cooked foods. Furthermore, it advocates that this opportunity should be met by many of the continent’s existing smallholder farmers.

Currently part of this growing demand for Africa’s food is met by imports. These amount to $35bn p.a. and are expected to cost $110bn by 2025 unless Africa improves the productivity and global competiveness of its agribusiness and agriculture sectors.

The report acknowledges that the private sector holds the key to the transformation of the food system so far. “Impressive value addition and employment is being created by SMEs along value chains in the form of increased agricultural trade, farm servicing, agro processing, urban retailing and food services.

Large agribusinesses like seed companies, agro processors and supermarkets are also playing an increasing role in the food value chain in many regions,” said Peter Hazell (IFPRI), the technical director of the report.

However, the study is clear that left to the private sector alone, growth in the agrifood system will not be as fast as it could, nor will it benefit as many smallholder farmers and SMEs as it could. Government support is needed to both stimulate and guide the transition.

As a high priority, governments need to create an enabling business environment and in particular, meet targets to invest ten percent of GDP in agriculture, agreed at the 2003 African Union (AU) Summit as part of The Comprehensive Africa Agriculture Development Programme (CAADP).

The report also urges governments to nurture a globally competitive food production sector through measures such as increasing infrastructure investment in secondary cities and towns, improving the reliability of energy and water supplies, building more wholesale market spaces, promoting open regional trade, identifying and investing in first mover crops and introducing stricter standards for food safety and quality. 

The authors also call on governments to stimulate new private public partnerships for more innovative financing and insurance provision which can lead to increased resilience for farmers and their households. While globally agricultural insurance is a $2 billion business, Africa accounts for less than two percent of the market.

Other fiscal stimulus measures suggested include improving financial regulations, developing better credit-reporting processes, opening up special economic zones, supporting digital warehouse receipt systems and sharing risk with lenders through credit guarantees and matching funds.

The report points out other new opportunities to target support presented by digital technology such as satellite tracking and big data. These can help locate new high value agri-economic zones and smarter financing and food security polices, especially in the face of climate change.

“Smart support is just as important as scale of support for Africa’s highly diverse group of famers and agribusinesses. To step up their game, businesses needs assistance tailored to distinct groups of viable small farms and agribusinesses at different development stages, rather than blanket support for all,” added AGRA President, Dr. Kalibata.

The report’s authors conclude that although progress is being made, Africa needs to pick up the pace if it is to compete globally and turn itself from importer to exporter by feeding its people with food made in Africa.

“Hopefully the prize of a rapidly growing and valuable market for food made in Africa will spark widespread political will and attract the best business talent to build a high value food sector,” said Peter Hazell.

“This private public partnership will be essential to provide the trinity of high productivity employment, sustainable economic growth and food made in Africa for Africa and the world.”

Ghana’s Vice President Confident Africa Is Ready For Economic Transformation

Story By Malise Otoo in Accra, Ghana

According to the African Transformation Report, ACETs flagship publication launched in October 2013, on the measures of economic transformation, it said, "Africa has been lagging behind East Asia, in large part because of state-led industrial policies in the first decades after independence and the market-led adjustment policies of the 1980s and 1990s.

Since then, some African countries have been moving toward a middle course between the two policy extremes. Six of the 10 fastest growing economies in the 2000s were in Africa, and others were above or near the 7 percent threshold for economic takeoff, set to double their economies in ten years."

However, this has not mostly happened in Africa and therefore much of the growth needs to come from better macroeconomic policies and booming commodity markets.

Dr.Mahamadu Bawumia, Vice President of the Republic of Ghana delivering his keynote address during a G-20 Compact with Africa (CWA) meeting here in Accra outlined several points he believes can accelerate Africa's transformation and development.

According to him, leadership matters in the fastest way or form to complete the compact, saying "it is our responsibility to leave up to the expectation of the compact."

Nevertheless he bemoaned the spectre of anti-globalization efforts, continued falling global economic indicators, challenges in the European Union, increasing migration and demographic pressures, and the lack of political cohesion on climate change haven made the job of leading the G20 under the German Presidency a challenging one although he was full of praise for its Presidency describing it as "unprecedented".

Furthermore, the Vice President, Dr.Mahamadu Bawumia reminded parties at the G20 compact that without commitment, the compact is just what it is, a compact. He said, “African governments have made commitments. The World Bank, IMF and African Development Bank have made commitments and the G20 nations have made commitments. It is our responsibility and duty to live up to our commitments." 

He stipulated that Ghana has identified a strong reform program to build the most business friendly environment in Africa. He explained further that for Ghana the CWA has also been an opportunity to re-focus attention on areas where investment is badly needed.

These include renewable energy, agriculture and agro-processing, the financial sector, infrastructure such as transport, industrial sectors such as aluminum and petrochemical, and tourism.

He mentioned that the country is focused on prudent expenditure management to reduce expenditure, broadening the tax base, enhancing tax compliance to reverse the unfavorable debt dynamics under the macroeconomic framework pillar of the CWA.

Under the Business framework pillar, the country according to the Vice President is creating the Ghana Business e-Registry and developing model contracts in line with international best practice while under the financial framework pillar the country seeks to reduce dominance in the debt market and promoting corporate issuance.

He said, "aid landscape is dwindling and we must contemplate a future beyond aid. We must create the environment to mobilize domestic financing." Similarly, he further stated that, "we must promote an environment of transparency with a sense of urgency in economic transformation."

Seven African countries make up the Compact namely, Côté D'Ivoire, Ghana, Ethiopia, Morocco, Rwanda, Senegal, and Tunisia. 

Ghanaian Cultural Leader Criticizes Lack Of Transparency In Africa’s Extractives Industry

There are no transparent fiscal regimes in Africa governing oil, gas and mining in Africa, an unfortunate trend on the continent which has condemned indigenous people at the hands of foreign investors who come to take away the continent’s natural resources, a cultural leader told a meeting in Accra, Ghana.

This was said by the Paramount Chief of Western Nzema Traditional Area, Nana Awulae Annor Adjaye, during the opening session of this year’s Summer School on Oil, Gas and Mining Governance (Anglophone Africa Regional Extractives Industries Knowledge Hub), organized by Natural Resource Governance Institute (NRGI) in Accra, Ghana.

The Summer School has attracted about 45 participants from Kenya, Uganda, Tanzania, Mozambique, Malawi, South Africa, Ghana, Nigeria, Sierra Leone, Zimbabwe, Cameroun and Botswana. Participants are mainly from civil society, media, academia and government bodies.  

While what the cultural leader raises is not a new issue, it points to a continent doing everything wrongly as it extracts and depletes its natural resources while indigenous people are subjected to utter poverty, one meal a day, dropping out of school and loss of land. This comes about because government and companies mismanage revenues generated and indigenous people don’t benefit directly or indirectly.

The Paramount Chief described as ‘nonsense’ rhetoric efforts to promote good governance and democracy because they were introduced by the same people (colonialists) who have returned to ‘steal your wealth’. He said it was ‘disheartening’ to see that Africa has resources but ‘you don’t know where the money from these resources go’.

He said that 80% of land in Ghana belongs to chiefs ‘but you wonder what is happening to the owners of the land’. “Our people have remained poor, some eat once a day and children are dropping out schools,” he stated, pointing fingers to governments, CSOs and other people facilitating the return of colonialists who plundered Africa in the past.

“People in the extractive industry are not from Africa, they have come back to steal your wealth,” he alleged, adding that Africa received political but not economic independence because people who partitioned Africa had an agenda. An agenda they are pursuing now by hunting down the continent’s oil, gas and minerals.

The Paramount Chief faults the failure to implement the right laws to track revenues, mitigate environment issues because countries have structures that work. Some of these governments lack the expertise to negotiate contracts with the moneyed oil companies.

“We have closed our eyes, we don’t talk, and when we talk we don’t walk the talk,” he said before encouraging participants at the Summer School to ensure their countries have sustainable livelihoods.”If you don’t do that you are wasting our time,” he sounded.

Emmanuel Kuyole, a consultant working with NRGI explained that to successfully manage natural resources there must be rules, institutions who obey rules and citizens who understand and obey rules. He advised that while deciding to extract natural resources, countries must prepare, build capacity and get the right information.

 Organizations like NRGI are building capacity among members of the civil society organizations, the media and academia who play an oversight role in keeping government and oil companies in check. While they have the capacity, they can help address the Paramount Chief fears and contribute to having health natural resources extraction.

 

South Africa Gas Potential To Be Discussed At Conference

A conference taking place in Durban from 9-11 October is set to explore South Africa’s aspirations to build an energy hub for gas cooperation with international partners along the value chain. The International Gas Cooperation Summit (IGCS) evolves from the ‘South Africa: Gas Options’ meetings held in Cape Town in 2015 & 2016.

This meeting will bring together principal government and public sector, gas developers, institutional investors and technology providers to explore how natural gas can play a greater role in South Africa’s energy mix and support the industrial and economic development goals of the country.

EnergyNet’s Anna Gorzkowska commented, “When we launched IGCS at the South Africa: Gas Options meeting last year in Cape Town, we knew that the landscape was changing and the discussion going forward would be broader to incorporate the DTI’s gas utilisation programme.

We’re therefore delighted to have got the timing of this meeting right - there is so much interest not only in the gas for power programme, but the massive infrastructure and energy projects happening as a result of those anchor discussions.

The conversation in October is also not squarely about South Africa, but its relationship with international partners and Southern Africa’s ability to develop gas based projects to electrify and empower the region.

Similarities must be drawn with the UAE 20 years ago and how they leveraged gas as the foundation of their now unimaginably rich economies. We’re looking forward to taking this discussion to the next level with our partners.”

The next opportunity

IGCS will showcase gas procurement and utilisation projects and strategies, bringing together decision makers who can lay the cornerstone of the region’s success and enable South Africa to become an energy hub to support industrial development across the region.

The agenda will focus on the global gas outlook for Southern Africa, case studies on modelling a gas economy, South Africa’s gas market in the context of the SADC region, how to accelerate gas infrastructure and the cost of diving into downstream.

A special conference for the Black Industrialists Programme with its major stakeholders will take place alongside the broader meeting, drawing on partners from the last two Gas Options meetings to continue to support the crucial objectives for both international and national investors. 

The program will be run by GE Garage engineers and instructors to enhance the students’ current capabilities whilst helping them develop new skill sets.

Guest Speakers For Upcoming Africa Oil Week Announced

ITE, the organizers of Africa Oil Week, this week announced its top-level speakers and sponsors for the 2017 edition of the globally recognised Africa Oil Week, the world’s longest running oil and gas conference on the African continent, being held in Cape Town, South Africa, from the 23rd-27th October.

As Africa’s premier oil industry event, Africa Oil Week draws over 1,250 senior stakeholders from the global upstream ecosystem for five days of content, thought leadership, networking and deal making.

This high-level participation is due, in particular, to the superlative quality of speakers, sponsors and partners, all of whom optimise the benefits of the content-rich programme.

Now in its 24th year, Africa Oil Week features 160 speakers from the corporate and public sphere to share winning strategies and solutions being deployed to face the future of the upstream industry with confidence.

Amongst these top-level speakers feature representatives from government and state bodies:

H.E. Jean-Marc Thystere-Tchicaya – Minister of Hydrocarbons for the Republic of Congo, Brazzaville;

H.E. Thierry Tanoh – Minister of Petroleum, Energy and Development of Renewable Energies in Côte d’Ivoire;

H.E. Gabriel Mbaga Obiang Lima – Minister of Mines, Industry and Energy in Republic of Equatorial Guinea;

Jerreh Barrow – Commissioner of Petroleum, Ministry of Petroleum & Energy for Government of The Gambia;

Engr Simbi Kesiye Wabote – Executive Secretary, Nigerian Content Development & Monitoring Board, Nigeria.

They will shed light on new opportunities as frontier and emerging markets and elaborate on the increased attractiveness achieved through strengthened fiscal and regulatory stability.

Côte d’Ivoire plans to double its oil and gas output by 2020 and is seeking to develop offshore reserves in the oil-rich Gulf of Guinea, while the Republic of Congo aims to increase daily production to 300,000 barrels from the current 250,000 barrels over the next two years.

This will put it close on the heels of Equatorial Guinea, the third-largest oil producer in sub-Saharan Africa with oil reserves estimated at more than 1.1 billion barrels of crude.

The Gambia, whose eight blocks, six offshore and two onshore, of which most are unallocated, have generated a lot of interest since its change of government, will present its legal framework that gives it the right to award contracts via tender and direct talks.

Nigeria’s Simbi Wabote will clarify his organisation’s capacity-building objectives and how IOCs can leverage the Nigerian Content experiences of others when planning projects.

Delegates will glean invaluable industry insights and operating experience from leaders of top international operators on the continent, such as:

France’s Guy Maurice – Senior VP, E&P Africa, Total E&P;

Luca Bertelli – Chief Exploration Officer, Eni Spa, Italy;

Jasper Peijs – Vice President Exploration, Africa, BP plc;

Frank Pluta – Managing Director, Global Co-Head of Oil and Gas Corporate Finance, Standard Chartered Bank;

Mike Adams – Head of Exploration, Gene Energy.

Each brings his or her expertise and perspective to the subjects of frontier exploration; challenges, opportunities and risks; deepwater exploration; the future of upstream; E&P trends; gas resources and gas-to-power development; and technology in the industry, amongst many more. Africa Oil Week provides a forum for exploring them all.

Summit To Discuss Mozambique’s First Deepwater Gas Field Development

The announcement last month from Eni and the Mozambican Government on signing the Coral South floating LNG facility became the first of its kind for the African nation.

This marks the start of an implementation phase for the gas industry of Mozambique, with more such deals expected to move from planning phase into fruition, the economy will see the benefits from this new business in the country.

The Mozambique Gas Summit & Exhibition taking place in October will extensively cover the latest developments in Mozambique’s gas industry. The event will be organized by acclaimed oil and gas events company, the CWC Group, in partnership with Mozambique’s national hydrocarbon’s company ENH. Participants can expect to get the full update on the Coral South FLNG project from the country’s senior decision makers.

Senior Speaker List Includes:

  • H.E. Leticia Deusina da Silva Klemens, Minister of Mineral Resources and Energy, Republic of Mozambique
  • Dr. Vasco Nhabinde, Director of Directorate of Economic and Finance Studies, Ministry of Economy & Finance
  • Dr. Omar Mithá, Chairman/CEO, ENH
  • Dr. Carlos Zacarias, President, INP

The Summit, to be held over 3 days in October, is widely supported by industry stakeholders including ExxonMobil, Anadarko & Mozambique LNG, BP, TechnipFMC, SASOL, Siemens and Alugas providing a unique opportunity to access and do business with these and many more key companies all under one roof.

Exciting features have been announced for this year’s summit, which will seek to increase attendee’s participation:

  • Outstanding Women Forum with our distinguished Guest of Honour Ms. Graça Machel (Drinks sponsored by ExxonMobil)
  • Roundtable Discussions
  • Mozambique Gas & LNG Awards Evening
  • 2nd National University Contest (Sponsored by BP)
  • Fully dedicated National Content Day
  • 3 Day International Exhibition

Tanzania to Meet Investors in September At Oil & Gas Congress

The Vice President of the United Republic of Tanzania Her Excellency Samia Suluhu Hassan has formally announced her support and participation in the upcoming Tanzania Oil & Gas Congress, organised by the CWC Group.

The Congress will gather senior representatives from the Tanzanian oil and gas industry including Governments, international oil companies, indigenous producers, international and national service providers, financiers and consultants.

Also joining the senior level speaker line up will be:

  • Hon. Charles Mwijage, Minister of Industry, Trade & Investment, United Republic of Tanzania
  • Hon. Salama Aboud Talib, Minister of Lands, Water, Energy and Environment, Zanzibar
  • Hon. Irene Muloni, Minister of Energy & Minerals Development, Republic of Uganda
  • Hon. January Y. Makamba, Minister of State – Vice President’s Office, Union and Environment, United Republic of Tanzania
  • Omar Mithá, Chairman & Chief Executive Officer, ENH Mozambique
  • Guy Maurice, Senior Vice President, Africa, Total E&P

With a variety of issues facing the energy sector in Tanzania, the Tanzania Oil & Gas Congress is well placed to bring together existing industry players and international investors to discuss the following key topics:

  • Government short-medium term plans and priorities for the energy sector
  • Increasing Government and industry collaboration to drive the industry forward
  • Business opportunities available with the Uganda-Tanzania Crude Oil Pipeline
  • What plans are in place to implement the Gas Masterplan?
  • Reviewing regional partnerships within Mozambique, Zanzibar, Uganda and Kenya

The Congress will also provide the opportunity to discuss open and honestly business opportunities in the Tanzanian energy market, in the form of Round Tables under Chatham House Rule.

Africa Oil Week Promises Standard Solutions For Industry Demands

Africa Oil Week, the world’s longest running oil and gas conference on the African continent, will from the 23rd to 27th October in Cape Town, South Africa, bringing together 1,250 industry players from around the world.

The ITE organized Africa’s premier event also brings together cross-continent multinationals and offer a content rich programme, a quality industry exhibition and five-star networking.

Africa Oil Week delivers exposure of Africa-wide state and private acreage opportunities, transaction and new venture assets and potential, exploration and production developments, and an overview of Africa’s hydrocarbon future.  

Now in its 24th year, Africa Oil Week, being held at the Cape Town Convention Centre, continues to provide the most trusted and reliable platform for governments, national oil companies, corporate players, independents and financiers, along with service and supply operators, to share deep insight and linchpin strategies and engage in meaningful debate and conversations set to drive and strengthen Africa’s rapidly evolving upstream industry.

With over 160 speakers from the corporate and public sphere, this year’s event promises a programme designed around industry solutions that set the standard for adjusting business models to new demands.

Experts will share strategies that enable the upstream industry to advance carefully, yet optimistically, as the investment environment improves, with companies pursuing asset deals, and oil price gains remain in place.

Innovation, flexibility, capabilities, technology and reforms are the keywords of the new strategies being deployed to face the future of the upstream industry with confidence and Africa Oil Week provides opportunities for exploring them all.

Being held as part of this year’s event and strengthening its core offer are the 17th Africa Independents Forum (23rd Oct), the 24th Africa Upstream (24th-27th Oct), the 5th Africa Local Content Forum (23rd Oct) and the 5th Young Professionals in Oil, Gas & Energy session. Special highlights are the 80th PetroAfricanus Dinner, hosted by ITE on 24th October at Cape Town’s iconic Mount Nelson Hotel, and the 9th Global Women Petroleum & Energy Club Luncheon (25th Oct).

Delegates who register by 16th August qualify for the substantial Early Bird Discount while companies registering three or more delegates benefit from an additional 10% discount. All registration fees include access to the 17th Africa Independents Forum and the 24th Africa Upstream Conference and Exhibition.

Israeli Power Developer Commits $1bn To ECOWAS

Under the MOU signed between the State of Israel and ECOWAS, Israel’s leading solar developer will invest $1 billion over the next four years to advance green energy power projects across the 15 member states of the West African economic community.

“In honor of President Ellen Johnson Sirleaf’s two terms in office, and Liberia’s friendship with the State of Israel, Energiya Global and our international partners will finance and build a commercial-scale solar field at the Roberts International Airport, which will supply 25% of the country’s generation capacity,” says Yosef I. Abramowitz, CEO. 

“We are prepared to finance and build the first National Demonstration Solar Projects in all ECOWAS-affiliated countries in order to promote political stability and social and economic development, as well as to advance knowledge transfer.”

Energiya Global and its associated companies developed the first commercial scale solar field in sub-Sahara Africa in Rwanda, which is supplying 6% of the country’s power, and the group broke ground on a similar power plant in Burundi, which will supply 15% of the country’s power by the end of the year.  The solar group has fields at various stages of development in ten African countries and expects to announce its full program at the Israel-Africa Summit in Togo at the end of October.

In an historic first, Israeli Prime Minister Binyamin Netanyahu is scheduled today to address the 15 West African heads of state of ECOWAS (the Economic Community of West African States), as well as the head of the African Union.   “Israel is coming back to Africa,” the Prime Minister will announce, and will outline the technological innovations in agriculture, water, green energy and more that can support economic development in West Africa. 

The $20 million investment comes as Israel and ECOWAS sign Sunday an historic Memorandum of Understanding to promote investments, technology and cooperation.

“With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people,” says Member of Knesset Avraham Neguise, chairman of the Israel-Africa Caucus of the Israeli Parliament, who accompanied the Prime Minister.  

“Our humanitarian and diplomatic goals are supported by the private sector as well, which can work quickly and efficiently to improve the lives of millions of people.  I want to thank my friend Yosef Abramowitz for his investments in solar in Africa.  We look forward to working with ECOWAS to deploy $1 billion over the next four years, starting with this first investment of $20 million in Liberia by Energiya Global.”

A working session between ECOWAS, representatives of the State of Israel and Abramowitz will take place Monday morning in Monrovia, to plan for the deployment of the green energy investments in fulfillment of the MOU signed by Prime Minister Netanyahu and the President of ECOWAS.

U.S. Power Africa Coordinator Andrew Herscowitz underlined the importance of Energiya Global’s work by saying, “As a founding Power Africa partner, Energiya Global continues to demonstrate its industry leadership with this important investment in Liberia.  Increasing access and power generation is the foundation for economic prosperity and human development.  We look forward to Energiya Global’s transformative impact on the lives of the Liberian people.”

“We are proud to be involved in the creation of cutting-edge, clean energy for Liberia,” says Remy Reinstein, Energiya Global’s country director. “We are honored to have the seal of approval from President Johnson Sirleaf of Liberia and Prime Minister Netanyahu of Israel, whose initiatives have made the sustainable development of Liberia possible.”

Liberian President H.E. Ellen Johnson Sirleaf approves the $20 million investment in Liberia’s energy sector, with Israeli Ambassador Ami Mehl and Liberia Country Director Remy Reinstein

Subscribe to this RSS feed

26°C

Kampala

Mostly Cloudy

Humidity: 74%

Wind: 22.53 km/h

  • 24 Mar 2016 28°C 22°C
  • 25 Mar 2016 28°C 21°C