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African Energy Week (AEW) 2024 Hydrogen Summit Highlights Collaboration as Key to Investments

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African Energy Week

A hydrogen summit at African Energy Week: Invest in African Energies 2024 conference explored the role hydrogen will play in the future of African energy

CAPE TOWN, South Africa, November 6, 2024/APO Group/ — 

Africa’s abundant energy potential, coupled with Europe’s ambitious production and import goals, have resulted in the development of a burgeoning global green hydrogen economy. Africa currently has 125 GW of hydrogen capacity with major contributors including Egypt, Mauritania, South Africa, Morocco, Namibia and Kenya – a group of nations that form part of the Africa Green Hydrogen Alliance group.

A dedicated panel session titled, Hydrogen Summit: Unleashing the African Green Hydrogen Revolution, at this year’s African Energy Week: Invest in African Energies 2024 conference explored the significant role that hydrogen plays in the future of African energy. The panel noted that the EU market represents the largest commercial opportunity for hydrogen projects on the continent, with international collaboration being highlighted as a key strategy towards driving the sector forward.

“We need to see more countries establish key terms to create a platform for knowledge sharing,” stated Africa Green Hydrogen Alliance liaison Joyce Kabui, adding, “The support here depends on the scale of collaboration in the green hydrogen space.”

Mauritania has emerged as one of the world’s top green hydrogen investment destinations. The country has effectively captured 1.5% of the global hydrogen market with 3 of its major hydrogen developments – the 30 GW AMAN development, 35 GW Megaton Moon project and 10 GW Project Nour development by renewable energy developer Chariot Energy Group, which collectively contribute to the country’s objective of producing 12.5 million tons of green hydrogen annually by 2035.

We assume the missions and projects of the state will guarantee a serene future for the Congolese people through structure and eco-friendly projects

“In Mauritania, we’ve managed to prove renewable resources and understand energy profiles available from natural resources to supply the value chain,” stated CWP Global Vice President of Project Development Africa, Margaret Mutschler, adding, “We’ve conducted environmental studies and baseline studies in countries like Mauritania that is relevant in other countries as well.”

Meanwhile, South Africa’s government has recognized green hydrogen as a key aspect of the country’s just energy transition. It has introduced the Hydrogen Society Roadmap to serve as the industry’s framework to facilitate large-scale investments in the sector.

“If you look at hydrogen as a source, it’s underpinned by the hydrogen roadmap that the government has begun to drive,” stated General Manager of Energy Projects at South Africa’s state-owned Central Energy Fund, Sifiso Msabala. “There is a focus on hydrogen in this country and we understand the issues that are inhibiting progress. We know that South Africa is a great country to contribute to the global hydrogen industry.”

Louis Andzouono, Head of Database Department at the Republic of the Congo’s state-owned Société National des Pétroles du Congo (SNPC), expressed his country’s commitment to driving a sustainable green hydrogen sector. The parastatal company received authorization from the government last year to explore the development of a green hydrogen market in the country.

“The SNPC is confident that its promotion of green hydrogen will succeed and thrive,” Andzouono stated, adding, “We assume the missions and projects of the state will guarantee a serene future for the Congolese people through structure and eco-friendly projects.”

The panelists noted that supportive policies and international collaboration will bolster Africa’s green hydrogen economy, potentially attracting investments and improving resource capacity.

Distributed by APO Group on behalf of African Energy Chamber.

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Lekki Port, Lekki Freeport Terminal, Lagos Free Zone Launch COSCO Shipping, Ocean Network Express (ONE) & ZIM Lines Services

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COSCO Shipping

The launch of the services was signaled by the arrival of the E A Centaurus at Lekki Deep Sea Port on Friday, November 8, 2024

LAGOS, Nigeria, November 11, 2024/APO Group/ — 

In what could be described as a major boost to the Nigerian maritime sector and international trade, the management of Lekki Port LFTZ Enterprise Limited (LPLEL), Lekki Freeport Terminal, and the Lagos Free Zone (https://LagosFreeZone.com) have launched the COSCO, ONE (Ocean Network Express), and ZIM alliance services at Lekki Deep Sea Port.

The launch of the services was signaled by the arrival of the E A Centaurus at Lekki Deep Sea Port on Friday, November 8, 2024. The E A Centaurus, with an overall length of 277m and a container handling capacity of 7,000 TEU, is also the largest COSCO vessel to call Nigeria. It docked at the port at about 10:30 a.m.

The Chief Executive Officer of Lekki Freeport Terminal, Christophe Cassang, explained that the launch of the service marks a crucial milestone in the terminal’s development and capacity expansion. He added that the launch of the service demonstrates the company’s commitment to becoming a leading maritime hub in West Africa.

We are realizing our vision of driving significant cargo volumes and further positioning Lekki Port to enhance the Nigerian maritime sector and improve business efficiency

“Through the strategic partnership with global shipping leaders such as COSCO, ONE, and ZIM, we are strengthening our position on the international stage and opening new opportunities for trade and industry in Nigeria and the region. Lekki Freeport Terminal is run by a well-trained workforce, passionate about meeting challenges of the future, and is equipped with the most advanced technology and state-of-the-art infrastructure designed to meet the growing needs of the shipping lines and of our customers,” said Cassang.

In his remarks during the ceremony, the Managing Director of Lekki Port, Du Ruogang, described the launch of the new shipping line services as a true testament to the company’s commitment to Nigeria’s maritime future. Ruogang noted that the berthing of the E A Centaurus marked the first of bi-weekly calls to Lekki Deep Sea Port by COSCO, ONE, and ZIM shipping lines. He described the launch of the COSCO, ONE, and ZIM shipping lines as a symbol of the company’s unwavering dedication to positioning Lekki Port as a transformative force in the Nigerian maritime Industry.

“After 18 months of commencement of commercial operations and continued efforts, we are proud to welcome COSCO, ONE, and ZIM shipping lines to Lekki Port. With the bi-weekly calls of the consortium, we are realizing our vision of driving significant cargo volumes and further positioning Lekki Port to enhance the Nigerian maritime sector and improve business efficiency across the country. The achievement is not the end but rather the beginning,” he said.

In her statement, the Chief Executive Officer of Lagos Free Zone, Adesuwa Ladoja, described the launch of COSCO, ONE, and ZIM shipping lines services at Lekki Port as a momentous occasion and significant achievement not only for Lekki Port and Lekki Freeport Terminal but also for Lagos Free Zone as it is bound to attract more foreign direct investment (FDI) to the zone.

“From one shipping line, we now have four shipping lines calling at the Lekki Deep Sea Port; it is significant because we now have more options that allow more customers access to the state-of-the-art facilities at the Lekki Port. It also allows the growth of enterprises in the Lagos Free Zone and, in fact, the entire Lekki economic axis. The companies can bring their raw materials through any of the four shipping lines and move them straight into the factories for production. They can also export finished goods to other parts of Africa and, indeed, the world. This is the economic rejuvenation we are all looking for, and Lekki Port and Lagos Free Zone are happy to be doing our part”, she said.

In their reaction, the COSCO, ONE, and ZIM shipping line representatives expressed their excitement about partnering with Lekki Port and Lekki Freeport Terminal. They expressed satisfaction with the world-class infrastructure and facilities available at the port. The companies were represented by the Deputy Managing Director of COSCO Shipping Lines Nigeria Limited, Rex Wang, Director, Ocean Network Express (Nigeria) Limited, Stefan Pedersen, and Managing Director, Lansal, Todd Rives.

Distributed by APO Group on behalf of Lagos Free Zone (LFZ).

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Afreximbank approves US$200 million Facility to support BUA Industries Limited (BIL) expansion plans

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Afreximbank

The first tranche of $150 million was disbursed on October 16, 2024

CAIRO, Egypt, November 11, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$200 million Corporate Finance Facility in favour of BUA Industries Limited (BIL) to support its expansion plans.

With Afreximbank’s support, BUA can increase investments to strengthen industrial capacity and meet regional demand

BIL is a Nigerian conglomerate with diversified business interest spanning across, sugar and cement manufacturing, flour milling, oil milling, port logistics, real estate development, oil and gas, and shipping. The first tranche of $150 million was disbursed on October 16, 2024.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that the facility will provide critical financial support to a leading Nigerian conglomerate as it pursues its expansion plans, thereby boosting its industrial base and Nigeria’s export manufacturing capacity.

“We are delighted at this partnership which promises to deliver significant impact through job creation, import substitution and export diversification – thereby boosting Nigeria’s Gross Domestic Product (GDP).”

On his part, Alhaji Abdul Samad Rabiu, CFR, CON, Chairman of BUA Industries Limited, said that the $200 million corporate finance facility marks a crucial step in BUA’s commitment to industrializing Nigeria’s manufacturing, infrastructure and energy sector for local use and export. “With Afreximbank’s support, BUA can increase investments to strengthen industrial capacity and meet regional demand. Our goal is sustainable growth that boosts Nigeria’s self-sufficiency and Africa’s global trade presence, creating jobs and building economic resilience,” he said.

Distributed by APO Group on behalf of Afreximbank.

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Ecobank Partners with Nium to Unlock Real-Time Cross-Border Payments Across 35 African Markets

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Ecobank

Nium announces its partnership with Ecobank, a pan-African financial solutions leader, bringing real-time cross-border payments to 35 markets on the continent

SINGAPORE, Singapore, November 11, 2024/APO Group/ — 

Nium (https://apo-opa.co/3Cl0CMy), the leading global infrastructure for real-time cross-border payments, announced a partnership with Ecobank Transnational Incorporated. (www.Ecobank.com), the leading independent pan-African financial services group, to enable seamless cross-border payments across 35 African markets for more than 32 million customers. This partnership is set to revolutionise the region’s payments landscape by enabling faster, more efficient international payments for businesses and consumers alike.

Nium’s real-time payments infrastructure will be integrated into Ecobank’s existing banking operations, empowering Ecobank to enhance its services for small and medium-sized enterprises (SMEs). Ecobank will connect its existing Swift workflows to Nium, gaining access to real-time transfers, updates, clearing, settlement, and payment tracking, without the need for complex API integrations. This will significantly reduce waiting times for cross-border payments, enabling businesses to make faster payments to over 220 markets, including over 100 countries with real-time capabilities.

Partnering with Nium allows us to enhance our service offerings and provide our customers with faster, more efficient cross-border payment solutions

Ecobank is a critical financial partner in sub-Saharan Africa. Through this partnership, Ecobank’s customers across the region will benefit from an enhanced payments experience that allows faster and more efficient cross-border transactions, unlocking new opportunities for SMEs to connect with global markets.

Anupam Pahuja, General Manager and Executive Vice President for APAC, Middle East and Africa at Nium, said, “We are thrilled to partner with Ecobank and introduce Nium’s cutting-edge real-time payment capabilities to Africa. This collaboration represents an important step forward in expanding our global payments network, and we are proud to support Ecobank in delivering faster, more efficient payments for its customers across the region.”

Partnering with Nium allows us to enhance our service offerings and provide our customers with faster, more efficient cross-border payment solutions. By leveraging our unique API-based payment platform, this collaboration is a significant step towards advancing financial inclusion and connectivity across Africa and enabling businesses to thrive in a global marketplace,” said Jeremy Awori, CEO of Ecobank Group.

Ecobank can exchange its existing SwiftMT & ISO20022 messages with Nium to initiate payments on the real-time platform, accelerating business growth and improving the speed and accuracy of cross-border payments for African businesses.

The partnership also aligns with Nium’s broader strategy to enhance global financial inclusion, enabling access to real-time payments in regions where traditional banking systems may be slow or unreliable. Through this collaboration, Ecobank is now better equipped to provide an unmatched cross-border payment experience for its customers, while Nium continues its mission to democratize access to the world’s largest real-time payments network.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated.

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