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Rwanda Climate Finance Partnership Powers Innovative Climate Action

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Climate Finance

The Rwanda Climate Finance Partnership aims to facilitate public-private partnerships to scale-up climate finance and has been made possible by the country’s Resilience and Sustainability Facility (RSF) arrangement with the International Monetary Fund

DUBAI, United Arab Emirates, December 4, 2023/APO Group/ — 

The Rwanda Climate Finance Partnership, which was launched at the Paris Summit for a New Global Financing Pact, will further power innovative climate action thanks to additional contributions from the Government of Rwanda. The partnership is supported by Agence Française de Développement (AFD), the European Union and Team Europe, the European Investment Bank (EIB) (EIB.org), the International Finance Corporation (IFC), German Cooperation via KfW Development Bank, and the Italian Cooperation system with the support of Cassa Depositi e Prestiti (CDP); and it complements existing partnerships, including the Rwandan-German Climate and Development Partnership and ongoing initiatives with the World Bank. The formal announcement was made on the sidelines of the COP28 UN Climate Change Conference in Dubai, UAE. 

The Rwanda Climate Finance Partnership aims to facilitate public-private partnerships to scale-up climate finance and has been made possible by the country’s Resilience and Sustainability Facility (RSF) arrangement (https://apo-opa.co/4a1TvoD) with the International Monetary Fund. It is expected that the IMF will disburse an additional USD 48.5 million in budget support following the approval of Rwanda’s second review of the RSF arrangement by the IMF Executive Board in mid-December. To further demonstrate commitment to its RSF-supported climate agenda, the Government of Rwanda also announced two additional reform measures supported by the RSF, related to: (i) enhanced risk analysis of State-Owned Enterprises and Public-Private Partnerships that are vulnerable to climate change, and (ii) adopting a green taxonomy adapted to Rwanda’s NDC climate action plan.

The following partnership milestones were also shared at the COP28 side event today: The Government of Rwanda, through the Ministry of Finance and Economic Planning, will contribute USD 40 million to support Ireme Invest, the country’s private sector green investment facility.

The EIB and the Development Bank of Rwanda have signed a EUR 20 million loan and a technical assistance agreement to support Rwanda’s green transition through Ireme Invest

  • The EIB and the Development Bank of Rwanda have signed a EUR 20 million loan and a technical assistance agreement to support Rwanda’s green transition through Ireme Invest. The loan is the first tranche of an expected EUR 100 million financing package announced at the Paris Summit. The technical assistance will be provided under the EIB Greening Financial Systems programme, supporting the NDC Partnership and backed by the International Climate Initiative Fund and German Federal Ministry of Economic Affairs and Climate Action. At COP28 the EIB is also outlining a new EUR 100 million agricultural climate finance partnership with Bank of Kigali to support smallholders and agri-business across Rwanda impacted by climate change.
  • AFD and Rwanda Development Bank have signed a EUR 20 million credit facility and a EUR 1 million technical assistance grant to scale up Ireme Invest. The first investments under the facility have already been undertaken in several sectors: green buildings and renewable energy. AFD has also signed a budget support of EUR 50 million and EUR 3 million technical assistance grant, announced at the Paris Summit, to advance green public financial management in Rwanda. AFD signed a memorandum of understanding with Bank of Kigali, whereby they agree to strengthen their cooperation in the area of climate finance and working on a climate line of credit of EUR 20 million with a technical assistance grant of EUR 1 million.
  • The Danish International Development Agency and the Rwanda Green Fund have signed a grant agreement of USD 5.27 million to support the Project Preparation Facility of Ireme Invest, which is powered by the Rwanda Green Fund.
  • CDP, Italy’s Financial Institution for International Development Cooperation, is advancing its partnership with the Government of Rwanda to provide financial support to green transition in the country, in the context of an overall strategy to scale up financial flows towards sustainable development and to counter climate change in Africa.

The Rwanda Climate Finance Partnership is a key pillar of Rwanda’s efforts to fund its ambitious NDC Climate Action Plan, and complements a number of existing public and private sector focused initiatives to enable Rwanda to respond to climate change:

  • Programmatic approach for Rwanda’s NDC investments: Three programmatic investment plans on: (i) Climate-Smart Agriculture (CSA), (ii) Sustainable Urbanization, with lead support of German Technical Cooperation (GIZ), and (iii) Sustainable Landscape Management (SLM), with the support from the World Bank, are currently under preparation. Additionally, the IFC will support the Government of Rwanda through the Rwanda Green Fund, to develop long-term investment plans for climate smart agriculture and sustainable urbanization, specifically focusing on increasing the role of the private sector in greening Rwanda’s economy.
  • Green Taxonomy: The Government of Rwanda announced the first phase of its green taxonomy to help catalyze private financing to green projects. Once finalized, the taxonomy will provide clear signals on which projects and activities are aligned with Rwanda’s climate goals. It will help direct private financial flows to the financing of those activities. The initiative is supported by Germany through GIZ, and it is strongly interlinked with Ireme Invest and the Boosting Green Finance, Investment and Trade (GreenFIT) partnership with the World Bank.
  • Rwanda’s NDC Facility, known as Intego, has developed a rich and promising pipeline of public climate adaptation and mitigation projects since its launch at COP27. The facility was capitalized by Germany through KfW with seed funding of EUR 46 million as part of the EUR 222 million Rwandan-German Climate and Development Partnership. The first call for proposals shows that financing needs and availability of project concepts go far beyond the seed funding and the Government of Rwanda is inviting development partners to join the initiative. Intego shall become a best practice example on how to facilitate access to public finance and to pool funding from various sources for climate projects.
  • Boosting Green Finance, Investment and Trade (GreenFIT): The World Bank has also partnered with the Government of Rwanda in the design of a new development policy operation (DPO) that encompasses a set of reforms to increase private sector participation in the Rwandan economy and improve resource mobilisation for climate resilience, with a value of USD 250 million over two years. Germany through KfW Development Bank has joined this effort and contributed not only to the provision of hands-on Technical Assistance for the design and implementation of the DPO’s actions, and is considering a financial contribution to the overall funding of the operation for the second year of the DPO.
  • The EU, as part of the Global Gateway initiative, is also providing budget support for an overall amount of EUR 59 million in grants, including EUR 6.5 million technical assistance, in support of Rwanda’s NDC targets with a specific focus on adaptation in agriculture, in addition to backing the EUR 20 million EIB financing to the Rwanda Development Bank and the Bank of Kigali EIB loan.
  • Finally, the Development Bank of Rwanda recently closed a RWF 30 billion (USD 24.8 million) sustainability-linked bond issuance, which was partially credit-enhanced via a World Bank lending operation, representing the first such issuance by a national development bank in the world.

The Rwanda Climate Finance Partnership, Rwandan-German Climate and Development Partnership, and ongoing initiatives with the World Bank and other partners, such as the United Kingdom, Denmark, and Sweden, demonstrate the power of collaboration to reshape the global climate finance architecture, including by moving beyond small-scale projects to significant long-term investments that leverage existing mechanisms to facilitate public-private partnerships and attract private sector investments.

Distributed by APO Group on behalf of European Investment Bank (EIB).

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RIOT Network and MediaTek collaboration expands digital access in South Africa through innovative, community-driven Wi-Fi solutions

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MediaTek

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities

JOHANNESBURG, South Africa, November 22, 2024/APO Group/ — 

MediaTek (www.MediaTek.com), a global fabless semiconductor company powering nearly 2 billion connected devices a year, and RIOT Network (https://RIOT.Network), a community mobile broadband provider in South Africa, have announced the successful integration of Mediatek’s Filogic 830 (https://apo-opa.co/3CIbkNl) chipset into RIOT’s second-generation CROWDNet Core Nodes.

The successful deployment of the CROWDNet nodes has enabled RIOT Network to achieve its aim of offering uncapped internet at an affordable price of R99 per month, and to do so profitably. To date, RIOT Network, in partnership with Sonke Telecommunications, has leveraged the nodes to connect more than 800 households and 5000 users in Olievenhoutbosch to uncapped Wi-Fi services.

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities. Its CROWDNet Nodes, enable an innovative model for deploying user-operated network infrastructure. Community members serve as operators of some of the core network devices to earn a share of the fee from neighbours who use the service.

With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity

CROWDNet powered by MediaTek Filogic 830 brings affordable, last-kilometre broadband to communities where it is not commercially viable to deploy towers or fibre. The MediaTek Filogic 830 is a high-performance SoC for routers, repeaters, access points and mesh networking devices. The SoC enables device makers to build-in powerful applications based on an energy-efficient, Wi-Fi 6-ready platform.

“The Mediatek’s Filogic 830 chipset delivers a unique balance of high performance and cost-efficiency, allowing us to keep operational costs low while maximising network reliability and speed,” said Jarryd Bekker, CEO at RIOT Network. “This combination of affordability and sustainable business growth is pivotal to our vision of expanding digital access in underserved communities. Our work in Olievenhoutbosch near Centurion demonstrates the power of reliable, affordable internet, creating new opportunities for economic and social engagement.”

“With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity,” said Rami Osman (https://apo-opa.co/4ghZBUn), Director for Business Development, MediaTek Middle East and Africa. “We look forward to supporting RIOT in building a future where high-quality internet is accessible and impactful for all.”

Distributed by APO Group on behalf of MediaTek Inc

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African Energy Chamber (AEC) Endorses Inaugural Congo Energy & Investment Forum, Catalyzing Growth in the Republic of Congo’s Energy Sector

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African Energy Chamber

The African Energy Chamber proudly supports the inaugural Congo Energy & Investment Forum, scheduled for March 25-26, 2025 in Brazzaville

BRAZZAVILLE, Republic of the Congo, November 21, 2024/APO Group/ — 

The African Energy Chamber (AEC), as the voice of Africa’s energy sector, proudly supports the inaugural Congo Energy & Investment Forum (CEIF), set to take place in Brazzaville on March 25-26, 2025. Unveiled during African Energy Week: Invest in African Energies in Cape Town by the Republic of Congo’s Ministry of Hydrocarbons, this milestone event signals the nation’s commitment to strengthening its role as a key energy player on the continent, while showcasing a range of investment opportunities. 

Under the leadership of Hydrocarbons Minister Bruno Jean-Richard Itoua, the Republic of Congo has emerged as sub-Saharan Africa’s fourth-largest oil producer, with anticipated production of 280,000 barrels per day (BPD) by the end of 2024 and ambitions to reach 500,000 BPD within three to five years. Building on this momentum, the CEIF will highlight innovative projects and foster strategic partnerships that enhance investment, drive economic growth and position the Congo as a leader in Africa’s energy expansion.

Meanwhile, Société Nationale des Pétroles du Congo (SNPC), led by CEO Maixent Raoul Ominga, is spearheading the Congo’s energy growth. SNPC holds a majority stake in the Mengo Kundji Bindi II permit, with 2.5 billion barrels of estimated oil potential. The company is developing the site through 13 wells, 3D seismic data acquisition, and the construction of six production platforms. 

We are honored to secure the Chamber’s endorsement for this pivotal forum

With the Chamber’s official support, the CEIF is set to attract government leaders, C-suite executives from major IOCs and energy experts, who will offer critical insights into Congo’s oil, gas and energy sector developments. The country is overhauling its gas sector to unlock 10 trillion cubic feet of resources through a comprehensive Gas Master Plan and new Gas Code that introduces favorable fiscal terms and enables small-scale project development, as well as large-scale, integrated gas megaprojects like Eni’s Congo LNG and Wing Wah’s Bango Kayo. 

“The Congo Energy & Investment Forum marks a major milestone for the country, amplifying its strategic energy initiatives and showing industry stakeholders that it is serious about advancing its energy sector. We look forward to supporting this forum, which promises to connect investors, drive impactful partnerships and elevate the Congo’s position within Africa’s energy sector,” says NJ Ayuk, Executive Chairman of the AEC.  

“We are honored to secure the Chamber’s endorsement for this pivotal forum, which, through its vast network and influence, will help attract key stakeholders and decision-makers to the event. Together, we aim to highlight the immense potential of the Congo’s energy sector, foster strategic partnerships and drive transformative investments that contribute to sustainable growth across the industry,” notes James Chester, CEO of Energy Capital & Power, organizers of the CEIF.   

This premier forum provides a unique platform for connecting local and international investors with high-impact opportunities across a diversified range of energy projects, paving the way for collaborations that drive growth and transformation. The AEC’s endorsement underscores its commitment to fostering strategic partnerships, sustainable investment and regional cooperation, aligning with its broader mission to make energy poverty history across the continent by 2030.  

As the energy industry continues to serve as a critical pillar of the Congolese economy and a catalyst for sustainable development, the AEC remains dedicated to supporting initiatives like CEIF that foster progress, investment and partnerships across the African energy landscape. 

For more information, please visit www.CongoEnergyInvestment.com

Distributed by APO Group on behalf of Energy Capital & Power.

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Any Successful African Energy Policy at Conference of the Parties (COP) or Anywhere Must Have Oil and Gas at its Core (By NJ Ayuk)

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Conference of the Parties

Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels

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JOHANNESBURG, South Africa, November 21, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman of the African Energy Chamber (www.EnergyChamber.org).

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders.

To begin with, I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals.

This will be particularly important in COP29 in Baku. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

I would encourage African leaders to talk about the need for financing, as well, to make it possible for us to adopt renewable energy sources and set up the necessary infrastructure. Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels.

Africa’s governments have a role to play in a successful African energy movement as well.

Because Africa’s energy industry still can benefit greatly from the presence of international oil companies, our government leaders need to approve contracts with oil and gas companies promptly instead of allowing red tape to delay projects after discoveries are made.

And, they need to offer the kinds of fiscal policies that allow oil companies to operate profitably in Africa. In turn, that will help those companies generate revenue, create jobs and business opportunities, and foster capacity building.

I also would encourage governments and civil societies to reward companies that exemplify positive behavior. Let’s incentivize the kind of activities we want, from creating good jobs and training opportunities to sharing knowledge.

I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals

And there’s more.

We in Africa must work together to create more opportunities for women to build careers in the oil and gas industry at all levels. Our energy industry can’t reach its potential to do good when half of our population is left out. Our progress on behalf of women has not been great—We need to do better, and we need to act quickly.

How the world can support

Now, I mean it when I say Africans are responsible for building the future they want. But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Please understand that with the war in Ukraine, the energy crisis in Europe, and the energy poverty facing our continent, our countries, like many others, are simply choosing the paths they believe are most likely to help their people.

You know, people for years have accused me of loving oil and gas companies more than Africa. The opposite is true. In my frequent travels around the continent, I’ve observed far too many young people with little in the way of opportunities.

I know our young people have aspirations for a better future. I know they have big dreams. And, I know that future is nearly within their grasp.

A thriving, strategically managed energy industry can make it possible for many of these young people, whether it leads to good jobs or it fosters the kind of economic growth that creates jobs in other fields. Even if we only get the lights on in their communities, we’ll be giving our young people hope and improving their chances of realizing their goals.

This is what drives me, the idea that with our ongoing efforts and determination, our young people can realize meaningful opportunities. I encourage each of you to work with us at the African Energy Chamber, in a spirit of cooperation and mutual respect. Together, we can build the kind of African energy movement that our continent, our communities, and our young people need and deserve.

Distributed by APO Group on behalf of African Energy Chamber.

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