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Investment: Unlocking Africa’s potential

Leading figures within the African energy scene will convene at the 9th Annual Africa Energy Indaba, the World Energy Council’s annual African regional meeting, to discuss how best to unlock investment to develop an energy infrastructure road map for Africa.


The World Energy Council will be holding a number of high-level ministerial meetings as part of the Indaba in Johannesburg between 20 and 22 February.
Other discussions will centre on highlighting the scaling up of renewables through innovative business models as well as the role of mobile banking solutions.

 

By combining state of the art renewable technology with high-efficiency appliances, latest battery technology, and innovative mobile payment systems that have emerged from the mobile phone revolution, entrepreneurs are delivering household solutions that increase rural electrification rates and scale up renewables in Africa.


Key speakers at the Indaba will include: Abubukar Sambo, Special Adviser to the President of Nigeria; Sadique Kebonang, Minister of Mineral Resources, Green Technology and Energy Security, Botswana; and Pierre Matusila, Minister of Energy and Hydraulic Resources, DR Congo. Experts from the financial, construction, utilities, mining, innovations and technologies sectors, as well as Civil Society will also be present.



Dr Elham Ibrahim, Commissioner for Energy and Infrastructure, Africa Union, and Vice Chair for Africa at the World Energy Council, also participating in the Indaba said: “I believe the time for more serious action has come for scaling up the implementation of renewable energy in Africa.

 

The continent has abundant Renewable Energy resources in the form of hydropower, solar, wind, geothermal and bio-energy that are appropriate for responding to the challenge of energy access, especially for our large rural population. Thus, the African Union Commission, alongside the World Energy Council, is set to speed up renewable energy projects and strategies already in the pipeline and developed to support the African continent in achieving a sustainable energy future.”


In Africa, energy is at the forefront of political and business decision making. With the visionary agreement at COP21 in Paris, the dynamic innovation context defining new opportunities and the shifting risks and resilience frontiers, the challenge is to now turn words and ambition into measurable actions at both national and regional levels to accelerate the energy transition.


The ability to deliver and deploy the most carbon effective, resources efficient and resilient solutions at scale will be key to achieving secure, equitable and environmentally viable energy systems. But without clear leadership, regional integration and collaboration beyond the borders of individual nations, African nations could fall short on their ambitions.



Liz Hart, Managing Director, Africa Energy Indaba, said: “The African continent has the necessary mineral resources, climate and geology to meet its energy requirements. However, in many of its countries, there is a lack of funding, institutional will or technical skill to assist in developing the energy sector.

 

The Indaba attempts to address this lack by connecting people and rainmakers who can boost sector development on a regional scale. We bring together politicians and energy luminaries to envision, collaborate and then catalyse the decisions that will unlock and unblock access to energy, and therefore enable growth and prosperity.


“Without access to energy, Africa’s growth will be stifled and, as such, investing in energy solutions for the continent is “mandatory and absolutely necessary”, Hart notes. “Given Africa's growing population and increased demand for energy, the conference will provide project-focused energy sessions for business development, welcoming African Energy Ministers and Utility Managers, pioneering energy project developers, product providers, EPC Contractors, investors, financiers and multilateral agencies to outline the role of renewable energy in Africa’s economic growth strategy and explore unique project development opportunities across the continent.”


Further discussions during the Indaba Energy Leaders’ Dialogue will focus on a high-level Ministerial dialogue: 'Africa’s shifting energy trilemma’ which highlights the challenge facing policymakers as well as energy and finance industry leaders. It refers to the trade-offs between three dimensions: energy security, social equity (energy access and affordability) and environmental impact mitigation (climate change and local pollution) Additional meeting topics will focus on new energy realities: critical pathways to 2060 and disruptive business models.


The World Energy Council will also be hosting its Africa Regional Meeting and will bring together workshops focussing on its World Energy Scenarios work, which envisions scenarios to 2060, led by Executive Chair, Ged Davis, in order to capture the reality of the energy world from an African perspective.


The Council’s Scenarios propose three potential energy futures: Unfinished Symphony, a world in which a more ‘intelligent’, forward looking and sustainable economic growth model emerges; Modern Jazz, which represents a ‘digitally disrupted’, innovative and market driven world; and Hard Rock, which explores the consequences of weaker and unsustainable economic growth in a more fragmented world dominated by inward looking policies. 

 


Using these metaphors, the scenarios allow people to test key assumptions that may or may not shape the energy world of tomorrow. These scenarios can help us assess which are likely to be the most dynamic areas and real game-changers of tomorrow within sub-Saharan Africa.

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Matsheka seeks raise bond program ceiling to P30 billion

14th September 2020
Dr Matsheka

This week Minister of Finance & Economic Development, Dr Thapelo Matsheka approached parliament seeking lawmakers approval of Government’s intention to increase bond program ceiling from the current P15 Billion to P30 billion.

“I stand to request this honorable house to authorize increase in bond issuance program from the current P15 billion to P30 billion,” Dr Matsheka said. He explained that due to the halt in economic growth occasioned by COVID-19 pandemic government had to revisit options for funding the national budget, particularly for the second half of the National Development Plan (NDP) 11.

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Lucara sits clutching onto its gigantic stones with bear claws in a dark pit

14th September 2020
Lesedi La Rona

Botswana Stock Exchange (BSE) has this week revealed a gloomy picture of diamond mining newcomer, Lucara, with its stock devaluated and its entire business affected by the COVID-19 pandemic.

A BSE survey for a period between 1st January to 31st August 2020 — recording the second half of the year, the third quarter of the year and five months of coronavirus in Botswana — shows that the Domestic Company Index (DCI) depreciated by 5.9 percent.

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Botswana Diamonds issues 50 000 000 shares to raise capital

14th September 2020
Diamonds

Botswana Diamond PLC, a diamond exploration company trading on both London Stock Exchange Alternative Investment Market (AIM) and Botswana Stock Exchange (BSE) on Monday unlocked value from its shares to raise capital for its ongoing exploration works in Botswana and South Africa.

A statement from the company this week reveals that the placing was with existing and new investors to raise £300,000 via the issue of 50,000,000 new ordinary shares at a placing price of 0.6p per Placing Share.

Each Placing Share, according to Botswana Diamond Executives has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from, 7th September 2020, being the date of the Placing Warrants issue.

In a statement Chairman of Botswana Diamonds, John Teeling explained that the funds raised will be used to fund ongoing exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the Company.

The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.

In Botswana, the funds will be focused on commercializing the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds. This will include finalizing a work programme to upgrade the grades and diamond value of the kimberlite pipe as well as investigating innovative mining options.

Drilling is planned for the adjacent Sunland Minerals property and following further assessment of the comprehensive Sekaka database more drilling targets are likely. “This is a very active and exciting time for Botswana Diamonds. We are drilling the very promising M8 kimberlite at Marsfontein and further drilling is likely on targets identified on the adjacent Thorny River ground,” he said.

The company Board Chair further noted, “We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari offers great potential. While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat.”

In addition BOD said the Placing Shares will rank pari passu with the Company’s existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 23 September 2020.

Last month Botswana Diamond announced that it has entered into agreement with global miner Petra Diamonds to acquire the latter’s exploration assets in Botswana. Key to these assets, housed under Sekaka Diamonds, 100 % subsidiary of Petra is the KX36 Diamond discovery, a high grade ore Kimberlite pipe located in the CKGR, considered Botswana’s next diamond glory after the magnificent Orapa and prolific Jwaneng Mines.

The acquisition entailed two adjacent Prospecting Licences and a diamond processing plant. Sekaka has been Petra’s exploration vehicle in Botswana for year and holds three Prospecting Licenses in the Central Kalahari Game Reserve (Kalahari) PL169/2019, PL058/2007 and PL224/2007, which includes the high grade KX36 kimberlite pipe.

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