MICEPP - Ministry of Investment, Convergence and Evaluation of Public Policies’ Post

🌍 Middle Eastern investment into Africa has been on the rise. This could bring a huge development dividend to the continent. 📈 In both 2022 and 2023, investors from Gulf Cooperation Council (GCC) countries announced FDI projects on the continent worth over $53bn. From the six GCC countries, the UAE 🇦🇪 and Saudi Arabia 🇸🇦 were by far the largest investors, accounting for more than 90% of pledged capital in both years. 🌲 This massive uptick reflects a push by oil-rich Gulf states to diversify away from hydrocarbons and back emerging technologies. Green hydrogen, in particular, will be vital for decarbonising hard-to-abate sectors such as shipping and steel. Many projects remain years away from full implementation. A few notable projects include: 1️⃣ Saudi Arabia-based ACWA Power plans to invest $4bn into a green hydrogen project in the Suez Canal Economic Zone (SCZONE), Egypt. 2️⃣ UAE-based AMEA Power plans to build a hydrogen project in the Kenyan port of Mombasa. 3️⃣ Kuwait-based Agility plans to build several data centre campuses in both Egypt and Ghana, as well as other emerging regions. What do you think ❓ Do these projects signal a new era of Gulf investment on the African continent ❓ Or does it just reflect the huge opportunities from the energy transition and digitalisation across 54 diverse countries ❓ 👉 Discover more in the full article here: https://lnkd.in/eTwac7uB #data #fdi #projects #africa #middleeast #mea #investment #saudiarabia #uae #gcc #econdev #renewableenergy #hydrogen

Any investment in Africa is good news but what Africa really needs at the moment is investment in gas. The continent has loads of the stuff and it could power the region's industrialisation and lead to massive poverty reduction. However, it will not happen because the Western world's green movement has become way too powerful and is putting investors off backing what is really needed for Africa's economic progress. Around 48 African countries make a combined contribution of 0.5% to the world's greenhouse gas emissions. It really is miniscule. Sadly, green enthusiasts apply no proper cost-benefit analysis to what they preach.

For more than a century, Asia, Europe, the Middle East, and North America have reaped the economic and technological rewards that this head-start has given them. Africa will require time to catch up but can offer much support to the global energy evolution in the meantime. Between 2026 and 2030, #Namibia, #SouthAfrica, #Mozambique, #Tanzania, and the #Senegal #Mauritanian region will be capable of producing a million barrels of oil per day (boepd) and 2.5 million boepd over the following decade. This production rate will initially account for 8% of Africa’s oil and gas output, increasing to roughly 20% of its total production between 2031 and 2040. Any impact on climate change brought about by an increase in African oil and gas production, if not balanced by emissions reductions in more developed countries, will be minimal compared to what the world has already accommodated. The African Energy Chamber stands by these nations as they prepare to benefit from their natural resources, and we are excited by the prospect of contributing to the transition to a sustainable and prosperous future for all AEC African Energy Week

In the past, the Saudi Arabian economy has heavily relied on oil revenues, which have been a significant source of #income for the nation. Given the unpredictable fluctuations in oil prices and the worldwide shift towards #sustainableenergysources, the need for diversification has become increasingly urgent. In light of these challenges and in line with global #sustainability trends, the Kingdom of #SaudiArabia has undertaken an ambitious journey outlined in its strategic framework #Vision2030. Driven by Crown Prince Mohammed bin Salman since its inception in April 2016, Vision 2030 strives to reduce dependence on oil, promote economic variety, and strengthen public service sectors such as healthcare, education, infrastructure, leisure, and tourism. What is the main objective? To establish Saudi Arabia as a top-tier global investment hub and a crucial link between #Asia, #Europe, and #Africa. Investment in modern waste-to-energy facilities is a key priority under Vision 2030. The focus is on cutting-edge technologies like incineration and anaerobic digestion. The estimated investment needed for biomass energy infrastructure is $1,5 billion, which includes the construction of several waste-to-energy plants and related infrastructure. Considering the project development and clean technology adoption, the business landscape in Saudi Arabia offers unique differences compared to Europe or the USA, where the IRBISIO | Cleantech Infrastructure Fund is currently operating. Projects in this region often have a grand scale and ambitious vision right from the initial planning phase, influenced by political and geographical differences. In addition, the ability to make changes quickly and the fast pace of execution is impressive. Consider, for example, the #NEOM project. Saudi Arabia has ambitious plans to build the world's largest green hydrogen plant, which is expected to cost $8,4 billion. The project has received financing from 23 local, regional, and international banks and investment firms. This facility can generate an impressive 600 tons of #greenhydrogen every day, resulting in a significant reduction of 5 million tons of #CO2 emissions annually. Projections indicate that the #hydrogen sector has the potential to generate substantial profits for Saudi Arabia. The Gulf countries, including Saudi Arabia, have the potential to generate significant revenue by 2050 through the production and export of green hydrogen and its derivatives like green ammonia. This could amount to anywhere from $120 to $200 billion. Additionally, this industry can potentially create around 1 million job opportunities in the region. The ambitious goals and unique business strategies of my peers in the clean tech infrastructure community in the Middle East have always inspired me in my professional pursuits, especially when it comes to the development of IRBISIO | Cleantech Infrastructure Fund.

I had the pleasure of sharing my insights on Oman's GreenHydrogen first mover advantage with the National News in Abu Dhabi. As the 21st largest oil producing country in the world, Oman faces challenges unique to its economy. Diversification is a must and GreenHydrogen is a promising solution. Check out my interview to learn more: https://lnkd.in/eSuyb-wh

New investment commitments fuel Egypt's hydrogen ambition! Since the introduction of tax #incentives, #Egypt has seen more commitments to boost green #hydrogen development in the region, including 7 cooperation agreements worth $40 billion with international developers, 4 agreements with the #Sovereign Fund of Egypt (TSFE) worth $33 billion, and 1 billion euros in Macro-Financial Assistance (MFA) from #EU. While the country’s 2030 output target seems too optimistic at the current stage, foreign investment commitments and export agreements (#H2Global, #Yara for 150,000 tpa #ammonia) should set Egypt on track to become a major exporter of green hydrogen towards 2040. Rystad Energy clients can see the full commentary here https://lnkd.in/gfWr8FXY

SOCAR to Advocate Energy Security, Emission Reduction at #AfricanEnergyWeek2024 The National Oil Company (#NOC) of the Azerbaijan Republic (SOCAR Karyera) will participate at this year’s #AfricanEnergyWeek (#AEW): Invest in African Energy 2024 conference – taking place on 4-8 November in Cape Town. During this year’s event, representatives from the Business Development Department of SOCAR are poised to discuss energy security development and emissions reduction strategies in the African #oil and #gas industry. Breaking ground in the modernization of refineries in the #RepublicoftheCongo (#ROC), the #NOC has shown an unwavering dedication to contributing to local content development, poverty alleviation and the equitable management of natural resources in Africa. As such, SOCAR’s participation at #AEW: Invest in African Energy 2024 is set to drive a commitment towards sustainability and collaborative ventures with local partners. Read full article here: https://lnkd.in/eURns5uy

🌍 𝗘𝗴𝘆𝗽𝘁 𝗟𝗲𝗮𝗱𝘀 𝗧𝗼𝘄𝗮𝗿𝗱 𝗮𝗻 𝗔𝗹𝗶𝗴𝗻𝗲𝗱 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 🌍 As Egypt commemorates a historic milestone by becoming the first African nation to secure the IGU Presidential Elections for 2028-2031, we're proud to share this video representing Egypt's vision and commitment to energy leadership🇪🇬. Recognized as a key player in the global energy transition, Egypt has solidified its status as a major energy hub in Africa and beyond. With its rich cultural heritage and world-class infrastructure, Egypt successfully hosted the prestigious World Gas Conference 2031. Explore Egypt’s inspiring journey and significant achievements as it forges a path toward a sustainable energy future. The opportunities that lie ahead are vast and promising. International Gas Union #Egypt #SustainableFuture #EnergyTransition #IGU #WorldGasConference #AfricaRising #eog #achievements #energy #global

Embracing Sustainable Development: Oman Leading the Path Forward for a Thriving Planet Oman, blessed with abundant renewable energy resources, is poised to emerge as a leading exporter of green hydrogen. At the same time, Germany seeks to fulfill its growing hydrogen demands through strategic partnerships with hydrogen-producing nations. It is indeed a thrilling sight to see the incredible potential of the Oman-Germany collaboration in driving decarbonization efforts, particularly in industrial sectors, through the production and utilization of green hydrogen. This collaboration signifies a remarkable step towards a sustainable energy future. By harnessing Oman's rich energy resources and Germany's technological expertise, the global transition towards clean energy and combat the adverse impacts of climate change. As a keen observer of Middle Eastern events, I'm deeply proud to witness the region's dedication to sustainable development. This partnership exemplifies the Region’s commitment to paving the way for a greener, more sustainable planet. #middleeast #sustainable #future

#Egypt is rapidly emerging as a global leader in the green #hydrogen economy, leveraging its strategic location and abundant renewable resources. The country's National Green Hydrogen Strategy, approved in 2023, aims to capture 5%-8% of the global market, reduce #carbon emissions by 40 million metric tons annually, create 100,000 jobs, and boost GDP by up to $18 billion by 2040. Egypt has implemented various incentives, including tax exemptions, customs benefits, and government financing, to attract investment in green hydrogen projects. International collaborations with companies like Siemens Energy and Eni have positioned Egypt as a primary beneficiary of foreign direct investment in the Middle East and Africa. Significant milestones include the launch of Africa’s first integrated green hydrogen facility and the export of the world’s first green #ammonia shipment. Despite challenges such as technological development and infrastructure, Egypt’s strategic initiatives and international partnerships position it as a key player in the global energy transition, with the potential to become a major green hydrogen hub. #netzero #sustainability #carbonfootprint #green #Energy #hydrogeneconomy #greenhydrogen #investmentlaw #IbrachyandDermarkar