Browsing: Egypt

An artisanal cobalt miner in the DR Congo. The DR Congo has 70 per cent of the world’s cobalt and enormous deposits of lithium which are critical to the clean energy shift. https://theexchange.africa/

The world is abuzz with the transition from fossil fuels to the much-hyped clean energy, in an effort to mitigate the effects of climate change and greenhouse gas emissions. 

The shift cannot happen without putting Africa’s ecosystems upside down.  Again, the West’s abuse of the African continent continues.  

With that in mind, the Democratic Republic of Congo (DRC) faces a continuous existential threat since it is a critical factor that provides the much-needed mineral resources to power much of the world's mobile phones. For the world to run as it is now, the convenience to shift to clean energy has come at a great cost to the DR Congo which is mired in incessant conflicts driven by a fight for its abundant resources.

Read: Kenya: Manufacturers make savings ditching expensive energy

In November, Egypt hosted COP27 in the exclusive Sharm-el-Sheik tourist resort town to address issues ailing the world on

On November 20th, 2022, the United Nations climate summit known as COP27 (Council of Parties to the United Nations Framework Convention on Climate Change) wrapped up with a promising lead.

By creating a fund for nations affected by the negative impacts of climate change, mainly composed of developing countries that have made consecutive appeals for establishing a loss and damage fund in crops, homes and infrastructures, the Fund would act like a compensation mechanism for developed nations who pollute. 

“This COP has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period,” United Nations (UN) Secretary-General Antonio Guterres commented in a message video broadcasted during the conference venue in Sharm El-Sheikh, Egypt.

“We have determined a way forward on a decade-long conversation on funding for loss and damage”, UN Framework Convention on Climate Change (UNFCC)

COP27 in Egypt is currently underway in Sharm-el-Sheik under the theme: Delivering for people and the planet.

Africa is not holding its breath waiting for funding from the latest power games showcase COP27 in Egypt, held at the exclusive Egyptian resort town between the Sinai Peninsula desert and the Red Sea. The resort town is known for its clear waters, sheltered sandy beaches and coral reefs.

For decades, Africa has been experiencing worsening climate change effects and this year it is no different. Despite the event being held in Africa, it is not clear how the continent will benefit from the high-level event that attracts the creme-de-la-creme of the world’s leadership and globalists. The evidence is clear for anyone who cares to see. Whether by design or accident, holding this annual meet that is losing its lustre every consecutive year proves that it is an event for the deep-pocketed and …

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has increased the key interest rates by two per cent (200 bps) to reach 13.25 per cent, 14.25 per cent, 13.75 per cent, and 13.57 per cent for the overnight deposit rate, the overnight lending rate, the rate of the main operation, and the discount rate, respectively.

They also announced a series of economic measures, including a switch to a more durably flexible exchange rate. The apex bank said the exchange rate switch would now allow international markets to “determine the value of the Egyptian pound against other foreign currencies.”

  • Egypt’s central bank has announced that it raised interest rates by 2 per cent and switched to a more flexible exchange rate system.
  • The institution said October 27, 2022 it had raised the lending rate, the deposit rate and the discount rate.
  • The decision aims to uphold the

An Egyptian consortium has confirmed that Tanzania’s Julius Nyerere Hydroelectric Dam’s main body construction along the Rufiji River is complete.

According to information from Tanzania Times, the consortium made of Arab Contractors and El-Sewedy reported to the Egyptian Cabinet of Ministers that much of the work on the dam is finished.

Further, it is reported that information about the completion of the main body of one of the largest hydroelectric dams in the region was circulated on Friday. Reports from Egypt note that the ongoing activity is preparing the site to retain water from the Rufiji River behind the dam.

  • Tanzania’s total power installed capacity stand around is nearly 1,700 MW
  • Julius Nyerere Hydropower Dam is one of East African largest dams and one of its kind
  • Tanzania’s overall access to electricity stands at 37.7 per cent, according to the World Bank

“The process is expected to take around two …

The war in Ukraine has shown how dependent Europe is on natural gas for power. Before the conflict broke out in February, Russia supplied up to 40 per cent of Europe’s gas requirements.

The European Commission announced its REPowerEU plan on March 8 and stated that it may “phase out our dependency on fossil fuels from Russia well before 2030.” This strategy aims to secure a significant immediate reduction in the EU’s consumption of Russian gas.

  • Mozambique is poised to ship its first cargo of liquefied natural gas overseas, joining the ranks of the world’s exporters as a global energy crunch pushes prices of the fuel to record highs
  • Mozambique is the world’s third-poorest country according to data from the World Bank, has in recent years had its economy battered by a sovereign debt scandal, a series of severe tropical cyclones, and the jihadist insurgency
  • According to estimates from Oxfam
  • The African Fertiliser and Agribusiness Partnership (AFAP) notes that over 40 per cent of African soils face nutrient depletion because of failure to apply sufficient levels of fertilisers
  • Farmers in most countries are increasing their application levels, with the fertiliser application rate in Sub-Saharan Africa expected to increase to 22 kilograms per hectare by the end of 2022
  • In Africa, the production of the material is concentrated in the northern parts of the continent

A study by the African Development Bank Group in 2019 revealed that most African countries depend on imported fertilisers for agricultural production.

The imports are mainly due to the lack of low-cost raw materials for production, low utilisation and high capital requirements for investment in production facilities.

According to the African Fertiliser and Agribusiness Partnership (AFAP), over 40 per cent of African soils face nutrient depletion, partly because of a failure to apply sufficient levels of

  • According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves
  • Despite being endowed with these resources, the continent still lags in development partly due to colonisation and corruption
  • By 2050, the African economy is expected to reach a Gross Domestic Product (GDP) of US$29, driven by agricultural, trade, and natural resources investments
  • Nigeria has the largest economy in Africa, followed by South Africa and Egypt
Africa is a blessed continent with a large quantity of natural resources, renewables and non-renewables.
According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves, eight per cent of the world’s natural Gas and 12 per cent of the world’s oil reserves.
“The continent has 40 per cent of the world’s gold and up to 90 per cent of its chromium and platinum. The world’s largest reserves
  • President Joe Biden has reaffirmed the United States’ support for Egypt’s water security
  • The Nile provides Egypt with 90 per cent of its fresh water and is essential to the country’s agricultural and power generation systems
  • In July of 2022, satellite photos revealed that Ethiopia has unilaterally begun the third filling of the massive Nile dam

In light of the fact that Ethiopia is getting ready to begin the third phase of filling the reservoir behind the Grand Ethiopian Renaissance Dam (GERD), the US is at it again.

President Joe Biden has reaffirmed the United States’ support for Egypt’s water security and for the formation of an agreement regarding the use of the waters of the Nile that will be in the interest of all parties involved.

According to the White House, President Joe Biden, in a joint statement with Egyptian President Sisi, reiterated “the importance of concluding the filling …

  • Africa is rich in oil and gas, with some of the world’s greatest natural gas reserves
  • Africa must quickly move to become an essential supplier to Europe as it attempts to diversify away from Russia
  • The concern for Africa is how rapidly gas can flow north to Europe after years of underinvestment in the industry due to fluctuations in price and demand

Russia’s invasion of Ukraine and Europe’s quest for alternative energy

Russia’s invasion of Ukraine has disrupted global energy markets and flipped the energy debate on its head. As a result, the effects of this war on the energy industry are now worldwide. The move reflects Europe’s shifting geopolitical situation, with global ramifications.

Read: Kenya Power to replace oil in transformers for gas to curb

To accomplish climate targets, the E.U. has a clear goal of diversifying gas supply in the medium term while focusing on increasing renewables and …