Upcoming EventsMar27MonMar28Tueall-day 4th African Islamic Finance summit @ Hyatt Regency4th African Islamic Finance summit @ Hyatt RegencyMar 28 – Mar 29 all-day4th African Islamic Finance summit read moreShareApr4TueApr6Thuall-day Global Forum on EPC Project Mana...Global Forum on EPC Project Mana...Apr 6 – Apr 7 all-day6th – 7th April, Berlin Conference overview EPC Project Management is the “Heart” of internal and external Operational division of Power and O&G industries with its own Scale and Complexity. With the current challenges and the drop in the oil price, Contract … Continue reading →Apr17Monall-day Future Play & Playspaces MENA 2017 @ DubaiFuture Play & Playspaces MENA 2017 @ DubaiApr 17 – Apr 18 all-dayFuture Play & Playspaces MENA has been specifically created for those developing, designing, building and equipping indoor and outdoor play facilities across the MENA region. It’s an event dedicated to showcasing the growing business opportunities in this rapidly expanding sector. … Continue reading →Apr24Monall-day 3rd Congo International Hydrocar... @ The Palais des Congres, Brazzaville3rd Congo International Hydrocar... @ The Palais des Congres, BrazzavilleApr 24 – Apr 26 all-dayOn behalf of the Ministry of Hydrocarbons, Republic of Congo & AME Trade Ltd, we are delighted to welcome you to the Republic of Congo’s Third International Oil and Gas Conference and Exhibition (CIEHC-3). CIEHC will take place at the … Continue reading →
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Official travel overseas have been withheld by orders of the Liberian President. The 60 day travel ban is being undertaken to save the country’s depleted foreign currency holdings. Doing business in the country has been tough as fluctuation due to continuous fluctuation of the Liberian dollar. This had contributed to traders and business owners engaging in a protest to draw attention to the government on the crisis that befalls them in their businesses. The situation could also be affected by the business owners themselves as some business owners are known to travel overseas with money in their suitcases creating foreign exchange shortages.
Morningstar Announces Findings from Third Global Fund Investor Experience Report; United States Scores the Best and South Africa the Worst
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In a move that is angering Diaspora Gambians and their families back home, The Gambia government on Thursday announced the banning of all local and long distance Skype and Viber free calls in The Gambia–citing what it calls “the major financial loss that government is accruing due to Skype and Viber free calls,” the Freedomnewspaper reports.
By Simon Tesfamariam
REYKJAVIK, March 6, 2013 –The World Bank today announced a major international effort to expand renewable power generation in developing countries by tapping an underutilized resource: geothermal energy.
Plugged in to progress with geothermal energy in Kenya
• Geothermal delivers carbon-free power in Kenya
• Small businesses benefit and communities are safer
• Rift valley resource could power 150 million households in Africa
Jackson Kiloku, a 26-year-old Masai who herds animals and raises vegetables, stood at the far end of Inkoiriento village, a panoply of wooden and rusted tin-roofed buildings in Kenya’s Nakuru County, and pointed to cables in the sky. “I hope electricity will flow through them soon,” he said. “Electricity will be good for our local school and good for our businesses.” Daniel Parsitau, a fellow villager added that electricity would make life at home easier as well.
Both look to Kenya’s Olkaria geothermal plant, on the boundaries of Hell’s Gate National Park, to deliver this new electricity. Olkaria, which has received long-term support from the World Bank and other agencies, is part of Kenya’s plan to substantially increase the contribution of geothermal to the country’s energy mix.
Only 16% of Kenyans have access to electricity, but with evidence of abundant geothermal resources beneath the country’s share of East Africa’s Rift Valley, the government plans to double geothermal generation to bring electricity to villages like Inkoiriento. Already, geothermal—developed with $300 million in support from the World Bank since 1978 —delivers about 13% of Kenya’s electricity; the goal is to raise that proportion to close to 30% by 2020.
Hairdresser Elizabeth Kyalo and her assistant now use electric appliances to straighten, dye, and style their customers’ hair. Electric lighting allows them to stay open after dusk: “I have more business now and am able to pay for schooling of my kids,” said Elizabeth.
Getting access to electricity also improves safety for women in remote areas. Before Kola Division village got electricity, for example, resident Jossylyn Mutua was attacked by machete-wielding thieves who sliced her forehead and smashed her arms. She has since relocated to Nairobi but would consider moving back to her village now that it has electricity.
“Lighting has secured the area,” said Norman Mulei, a grocer, a few shops away. He and his sister run their grocery from 6 a.m. to 8 or 9 p.m. They feel that having electricity has made it safer for them to stay open at night.
Concerted global action key to providing access
Geothermal is also delivering carbon-free access to electricity. “It is relatively clean and non-polluting, and can provide constant power,” says Pierre Audinet, Clean Energy Program Team Leader at the World Bank’s Energy Sector Management Assistance Program (ESMAP). “For many developing countries, this is a potentially transformative resource.”
Getting to that transformation, however, will take concerted international action.
Many other countries share Kenya’s prospects. Geothermal resources are concentrated in regions of tectonic activity, from Africa’s Rift Valley, to Central America, to Southeast Asia. About 40 countries worldwide have geothermal resources that could meet a very significant portion of the national electricity demand.
The World Bank and ESMAP are preparing a Global Geothermal Development Plan to mobilize funding for geothermal development. This partnership with bilateral funding agencies and other multilateral banks will target regions of high potential and finance the test drilling phase, to trigger further private investment along other stages of the geothermal value chain. The goal is to boost geothermal electricity production capacity in low- and middle-income countries, and thereby deliver power to some of the 1.3 billion worldwide who remain without it.
World Bank support for scaling up geothermal
Supporting the scale-up of geothermal power in developing countries is among the Bank Group’s key commitments as part of the global Sustainable Energy for All initiative, which aims to achieve universal energy access, double the proportion of renewable energy in the global energy mix, and double the rate of improvement of energy efficiency, all by 2030. Bank Group President Dr. Jim Yong Kim recently joined with UN Secretary-General Ban Ki-moon to co-chair the advisory board that will provide strategic guidance to the Sustainable Energy for All initiative.
Because geothermal power projects require often extensive preliminary test drilling, they are more capital intensive than many other renewable energy projects. Significant investment is required before it becomes clear whether a site has the potential to recover the costs. Geothermal projects also have relatively long lead times from the start of exploration to power plant commissioning and the first revenues. But geothermal offers great promise, especially in East Africa, where the Rift Valley’s geothermal potential could power up to 150 million households. This is why the Bank Group is working with Kenya to support geothermal development with concessional funding in the early stages.
World Bank Group support for geothermal development is growing, rising from $73 million in 2007 to $336 million in 2012. Geothermal now represents almost 10 percent of the Bank’s total renewable energy lending. The Global Geothermal Development Plan is expected to boost that support even further.
The Benghazi incident that took the lives of four Americans has resulted in the resignation of four Department of State (DoS) officials and has cost Susan E. Rice, the current US Ambassador to the United Nations, her chance to head the DoS. Her potential nomination set off a barrage of commentary as those opposed to her nomination were countered by those who supported her. Several reports were written about the “radio-active” candidate and there were some who actually questioned her credentials and there were others who claimed that her “entire career has been based less on solid accomplishment than on her networking skills.”
NEW YORK, December 5, 2012/African Press Organization (APO)/ – All sides of the conflict in eastern Democratic Republic of the Congo should halt attacks on journalists and media outlets, the Committee to Protect Journalists said today after a radio station was attacked and taken off the air.
STAMFORD, Conn., Oct. 1, 2012 /PRNewswire-USNewswire/ –Emergency medical aid and water treatment supplies are on the way to Niger for the millions of people suffering from the food crisis in the Sahel region. With depleted food stocks from last year’s harvest quickly running out and millions suffering from malnutrition and related health problems, AmeriCares is rushing enough medical aid to treat about 15,000 people. The delivery was made possible through the generosity of AmeriCares donors GlaxoSmithKline and P&G. The shipment includes 660 treatments of Augmentin, an antibiotic GlaxoSmithKline pre-positions in AmeriCares Amsterdam warehouse for emergencies, as well as 1.1 million P&G water purification packets (formerly known as PUR packets) – enough to provide more than 40,000 people with clean drinking water for three months.
LE SECRÉTAIRE GÉNÉRAL SE FÉLICITE DES ACCORDS SIGNÉS ENTRE LE SOUDAN ET LE SOUDAN DU SUD SUR LA SÉCURITÉ, LES FRONTIÈRES COMMUNES ET LES RELATIONS ÉCONOMIQUES
NEW YORK, 28 septembre 2012/African Press Organization (APO)/ – La déclaration suivante a été communiquée aujourd’hui par le Porte-parole du Secrétaire général de l’ONU, M. Ban Ki-moon: