Mauritania Secures $289 Million for Solar Power and Energy Transmission Development
These projects encompass solar power generation, transnational electricity interconnection, and rural electrification. The initiative aims to construct solar power plants and install a 1,373-kilometer high-voltage transmission line with a capacity of 600 MW, enhancing solar energy output and ensuring electricity access for all in both nations. Mauritania secures funding through a $272 million loan from the African Development Fund and a $1.5 million grant from the Green Climate Fund, marking the largest financing ever provided by the African Development Bank to Mauritania. The RIMDIR initiative, supported by a $16 million grant from the Sustainable Energy Fund for Africa (SEFA), focuses on rural electrification in 40 localities in southeastern Mauritania. For over fifty years, the African Development Bank has been engaged in Mauritania across key development sectors such as agriculture, governance, water and sanitation, energy, mining, private sector, transport, and social welfare.
Source:The North Africa Journal
January 30, 2024 05:15 UTC
Italy unveils plans to curb migration while investing in energy at Africa summit
January 30, 2024 07:22 am | Updated 07:22 am IST - RomeAfrican leaders gathered at a Rome summit on Monday to hear Italian Prime Minister Giorgia Meloni’s much-hyped plan for the continent, aimed at transforming Italy into an energy hub — and stopping migration. Far-right leader Meloni, who came to power in 2022 on an anti-migrant ticket, has vowed to reshape relations with African countries by taking a “non-predatory” approach inspired by Enrico Mattei, founder of Italy’s state-owned energy giant Eni. The so-called Mattei Plan hopes to posit Italy as a key bridge between Africa and Europe, funnelling energy north while exchanging investment in the south for deals aimed at curbing migrant departures across the Mediterranean Sea. Ms. Meloni said the plan would initially be funded to the tune of 5.5 billion euros, some of which would be loans, with investments focused on energy, agriculture, water, health and education. There was no reference to Italy’s colonial past in Libya, Ethiopia, Eritrea and what is now Somalia.
Source:The North Africa Journal
January 30, 2024 03:47 UTC
OPEC Fund sets record with $1.7 billion commitments in 2023 amid global challenges, ET EnergyWorld
AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETEnergyworld App Get Realtime updatesSave your favourite articles Scan to download AppNew Delhi: The OPEC Fund for International Development has ramped up its funding efforts in 2023, committing a record $1.7 billion across 55 projects globally, it said on Monday. This marks a significant increase in the fund's support for addressing climate change, energy transition, and boosting sustainable growth. "In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment," Dr. Abdulhamid Alkhalifa , the OPEC Fund's Director-General, said in a statement. The Fund, established 48 years ago and based in Vienna, has expanded its lending program in response to strong demand from partner countries and successful capital market fundraising.The 2023 commitments by the OPEC Fund show a diverse geographical spread, with 42 percent of the investments allocated to Africa, followed by 20 percent each to the Middle East, North Africa, Europe, Central Asia, Latin America, and the Caribbean, and 18 percent to Asia and the Pacific.
Source:The North Africa Journal
January 30, 2024 03:13 UTC
Leading the Way: Morocco’s Advanced Public Relations and Marketing in North Africa – International Supermarket News
Networking and Relationship Building: Marketing activities, including international events and promotional campaigns, offer invaluable opportunities for networking and relationship building. Contributing to Long-Term Development: Beyond immediate gains, continuous marketing efforts contribute to the long-term development of a region. In terms of international public relations and marketing efforts in North African countries, Morocco appears to lead the way. While Tunisia has some experience in international public relations, its efforts are notable in promoting itself as a key player in the regional food industry. In contrast, Algeria lags behind in giving importance to international marketing and public relations.
Source:The North Africa Journal
January 30, 2024 01:24 UTC
Democratic Republic of Congo (DRC): The humanitarian community deeply concerned by new spike in violence in North-Kivu
The United Nations Humanitarian Coordinator for the Democratic Republic of Congo (DRC), Bruno Lemarquis, expressed deep concern over the recent surge in violence in North Kivu province. Parties to the conflict are reminded of their duty to protect civilians, who should never be targeted by the hostilities, and their right to safely access humanitarian assistance. Despite growing access constraints, humanitarian partners remain committed to providing the necessary aid and support to affected communities. “Support for ongoing political processes is essential to achieve lasting peace and stability in eastern DRC, where populations have endured decades of hardship and rightly aspire to live safely,” reminded Bruno Lemarquis. Distributed by APO Group on behalf of UN Office for the Coordination of Humanitarian Affairs (UNOCHA).
Source:The North Africa Journal
January 29, 2024 22:27 UTC
Egypt: President El-Sisi Speaks with Jordan’s King Abdullah II
Today, President Abdel Fattah El-Sisi spoke over the phone with King of the Hashemite Kingdom of Jordan, His Majesty King Abdullah II ibn Al Hussein. President El-Sisi renewed Egypt’s condemnation of the terrorist attack, which targeted a post located on Jordan’s border with Syria. This was highly appreciated by H.M. King Abdullah II, given the historical and brotherly relations the two countries and their peoples share. President El-Sisi and H.M. King Abdullah II discussed efforts underway toward restoring calm in the Gaza Strip and ensuring access for urgent humanitarian aid and relief to the people of the sector. President El-Sisi and H.M. King Abdullah II confirmed that reaching a just and comprehensive solution to the Palestinian cause is the only guarantor for restoring regional security and peace.
Source:The North Africa Journal
January 29, 2024 21:45 UTC
Who created the alphabet? A historian describes the millennia-long story of the ABCs
There are plenty of ways we could structure the alphabet; the computer keyboard in front of me provides one alternative. Our ABCs, known as the Latin alphabet, are the result of millions of people over thousands of years slowly working together and ultimately agreeing on which letters to use and under what circumstances. But many letters change sound completely when they appear in a different language. The Romans spread their language, Latin, and its alphabet all over modern Europe, the Near East and North Africa. The earliest example of the Latin alphabet in use is called the duenos inscription and comes from the sixth century BCE, 2,500 years ago.
Source:The North Africa Journal
January 29, 2024 21:07 UTC
Industry Insights: Top Manufacturing Trends to Watch in 2024 - IT News Africa
Predictions for 2024 also paint a bleak picture, urging modern manufacturers to scrutinize processes, supply chains, and automation levels to thrive in this demanding environment. Securing AI Opportunities:Generative AI, gaining traction since 2023, is expected to integrate into business systems and processes, particularly in supply chain management. ERP technologies support predictive maintenance by simplifying data collection and analysis, aiding in developing maintenance plans, reducing downtime, and enhancing operational efficiency. Digital Supply Chain Efficiency:In 2024, manufacturers will leverage digital platforms, like ERP systems, to enhance supply chain resilience, visibility, and agility. Digital supply chain solutions provide a unified view of operations, streamlining and automating activities without increasing operating costs.
Source:The North Africa Journal
January 29, 2024 20:36 UTC
MENA Film Festival celebrates stories from the Middle East and North Africa
1 of 3 2 of 3Returning for its fifth consecutive year, the MENA (Middle East North Africa) Film Festival in Vancouver provides an engaging platform for movie enthusiasts, local filmmakers, artists, and writers. This year’s festival takes a deep dive into the exploration of MENA bodies through time, encapsulated in the themes of play, pause, rewind, and forward. In addition to a week of screenings, workshops, and panels, the MENA Film Festival offers a $5,000 filmmaking grant each year in collaboration with Movies Move Us, an organization dedicated to film distribution and production for social impact. This year’s winner is a film called HAIR, directed by filmmaker and writer Sara Jade Alfaro-Dehghani. The MENA festival is on now until February 1.
Source:The North Africa Journal
January 29, 2024 20:12 UTC
Red Sea route accounts for 50% country’s exports, 30% of imports
Red Sea route accounts for 50% country’s exports, 30% of importsShare This News Story:NEW DELHI : The impact of the ongoing crisis around the Red Sea shipping route, which accounts for 50 per cent of the country’s exports and 30 per cent of imports last fiscal, will vary depending on the industry, according to a report. Domestic companies use the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and part of the Middle East. Last fiscal, these regions accounted for 50 per cent of the country’s exports worth Rs 18 lakh crore and 30 per cent of imports worth Rs 17 lakh crore. Increasing attacks on ships sailing in the Red Sea region since November 2023 have persuaded shippers to consider the alternative longer route past the Cape of Good Hope. It is not that the impact of the Red Sea crisis will be negative for all sectors.
Source:The North Africa Journal
January 29, 2024 19:00 UTC
Rates boom and alliance shake-up strengthen objections to HMM sale
HMM came under state control in 2016 after swapping debt for equity to avert bankruptcy. And opponents of the sale say there will, therefore, be less synergy between the flagship carrier and the dry bulk-focused operations of Harim. Harim acquired Pan Ocean, South Korea’s largest dry bulk shipping company, in 2015. It’s highly possible that investment in HMM’s dry bulk fleet will be called off to pre-empt weakened profitability.”There have been concerns that HMM’s dry bulk operations would be consolidated with those of Pan Ocean, which has nearly 80 bulk carriers. Jung Il-hwan, CEO of logistics consultancy Youngone NCS, said: “KDB and KOBC were attempting to sell HMM before its profitability deteriorated.
Source:The North Africa Journal
January 29, 2024 18:13 UTC
Weekly Economic Index: The Junta cuts ties with Ecowas, NIN in the diaspora, and Netflix’s largest Q4 ever
Netflix cracks 260 million subscribersIn its Q4 2023 report, Netflix revealed that it gained 13.12 million new subscribers, reaching 260 million subscribers. The increase was driven by 5.05 million subscribers from the Europe, Middle East, and Africa (EMEA) region. The streaming platform equally saw a 12% rise in revenue in Q4 2023, 6% higher than 2022 and 2% more than expected. Netflix said its 13.12 million paid net additions were its “biggest Q4 ever”, while it had 7.66 million additions in Q4 2022. Therefore, NIMC plans to enrol 148 million Nigerians by June 2024 as part of the Digital Identity for Development (DID4D) project supervised by the World Bank.
Source:The North Africa Journal
January 29, 2024 17:32 UTC
Barcelona, Bilbao host business meetings to bolster investment dynamic between Morocco & Spain – The North Africa Post
Two Business Forums are held this Monday in Barcelona and Tuesday in Bilbao to discuss ways of strengthening the investment dynamic between Morocco and Spain. The economic meetings attest to the shared desire to further strengthen, encourage, and catalyze existing investment opportunities for the business communities of both countries. They also reflect the strength of diplomatic relations and the renewed economic partnership between Morocco and Spain. The program also includes several working meetings with Spanish business leaders in key sectors, including the automotive industry, aeronautics, railways, renewable energies, household appliances, textiles, and pharmaceuticals. The Moroccan delegation will visit Bilbao on Tuesday for talks with members of the Basque Business Confederation (CONFEBASK) on various topics relating to Basque investment in Morocco.
Source:The North Africa Journal
January 29, 2024 16:53 UTC
Italy Pursues Closer Energy Ties With Africa Through $6 Billion Fund
Italy is creating a $5.95 billion (5.5 billion euro) fund to boost its energy ties with Africa and support healthcare and education there in a bid to stem migrant flows from North Africa to Italian shores, Italy’s right-wing Prime Minister Giorgia Meloni said on Monday. Energy is one of the five priorities for Italy in Africa, alongside education, healthcare, agriculture, and water resources, Meloni said. Of the initial $6 billion funding for the ‘Mattei plan’, around $3.24 billion (3 billion euros) will come from the Italian climate fund and about $2.7 billion (2.5 billion euros) from resources for development cooperation, the Italian prime minister added. Eni has been particularly active in securing more natural gas supply for Europe from Africa and has fast-tracked projects in Africa to meet Europe’s gas demand in the absence of Russian pipeline deliveries. Early last year, Eni’s chief executive Claudio Descalzi told the Financial Times in an interview that Europe should look to Africa for a “south-north” energy axis that would deliver gas from Africa to the EU.
Source:The North Africa Journal
January 29, 2024 16:37 UTC
The EU Should Do More to Help Armenia Shake Off Russia
Azerbaijan’s military offensive in Nagorno-Karabakh in September cemented Baku’s control over the breakaway region, three decades after it gained autonomy under Armenia’s protection amid the breakup of the Soviet Union. That in turn has created an opportunity for the European Union to forge stronger ties with Armenia and reshape the geopolitical orientation of the South Caucasus. Armenia has diverged from many other post-Soviet countries—such as the Baltic states, Ukraine and Georgia—by maintaining deep ties with Russia rather than seeking to integrate with the EU. As a formal Russian ally under the Moscow-led Collective Security Treaty Organization, or CSTO, Yerevan has long counted on Moscow to guarantee its security. Their robust defense ties include discounted purchases of Russian arms as well as a Russian military base in Gyumri, Armenia’s second-largest city.
Source:The North Africa Journal
January 29, 2024 16:03 UTC