Africa’s renowned business tycoon and leader, Alhaji Aliko Dangote, recently paid a courtesy visit to His Excellency Joseph N. Boakai, Sr., during the President’s recent visit to Nigeria to attend the ECOWAS Heads of State Summit.

Held in Lagos, Nigeria, the visit served as a pivotal platform for discussions on bolstering economic opportunities for Liberia.  

This strategic engagement not only underscores Aliko Dangote’s influential role in boosting cross-border business cooperation, but it also exemplifies the significance of private sector involvement in advancing regional economic integration and development for Liberia.

In a complementary development, former Nigerian President Chief Olusegun Obasanjo also graced President Boakai with a visit, further solidifying the enduring bonds between Nigeria and Liberia and signaling a collective commitment to fortifying relations.

Dangote’s interaction with President Boakai epitomizes the resonance between private sector leaders and political authorities in propelling sustainable economic growth and fostering a conducive environment for investment and trade especially for Liberia.

President Boakai views these engagements as catalysts for stimulating inclusive and mutually beneficial partnerships that ultimately redound to the prosperity and progress of Liberia.

Distributed by APO Group on behalf of Republic of Liberia: Executive Mansion.

The European Union Deforestation Regulation (EUDR) aims to ensure that products imported into the EU do not contribute to deforestation. It’s crucial for Ethiopian and African farmers to comply quickly to maintain access to the EU market, which is vital for their economic stability and growth.

“If farmers and producers do not comply with EUDR, they risk losing orders from EU buyers, leading to significant economic losses,” said Gregory Sampson, Solutions Architect at the UN International Trade Centre (ITC). “As of now, there is no indication of an extension or flexibility on the December 30, 2024 deadline, making prompt action essential,” he added.

ITC provides technical assistance, capacity building, and training to help countries meet EUDR regulations, supporting both farmers and producers, and government and industry bodies.

But meeting EUDR requirements by the end of 2024 is a major challenge, particularly for Ethiopian coffee exporters, as many of the stakeholders are not aware of the upcoming regulations.

In response, Orbit Innovation Hub in Addis Ababa, in partnership with the ITC Netherlands Trust Fund V Ethiopia Tech project, organized a symposium dedicated to exploring the potential of agritech in improving access to markets and finance.

Some 140 representative from the tech sector, local and international NGOs, government, banks, farmers and exporters attended the symposium to learn the importance of adopting traceability systems, understanding the regulation’s requirements, and the need for collaboration among stakeholders to ensure smooth implementation.

“Events like the symposium in Ethiopia are critical as they provide a platform for knowledge sharing, networking, and exchanging best practices related to EUDR compliance,” Sampson said.

“We are facing a very short deadline, and one thing we understood from the discussions is that knowledge is very limited,” added Saminas Seyfu, Orbit’s director of communication and community development. “Although agriculture and coffee is our backbone, there is no clear strategy on how to deal with the EU changes.”

The European Union is Ethiopia’s biggest single market. With 70% of Ethiopia’s population living in rural areas and 85% of agricultural production coming from smallholder farmers, reliable access to markets like the EU can boost productivity, increase incomes, and strengthen food security in the country.

But although smallholder farmers play a critical role in Ethiopia, they often face significant challenges in developing sustainable practices and accessing markets due to limited infrastructure, knowledge, information, and resources.

Seyfu believes agri-tech can offer these producers a way to overcome these barriers and use technology to level up to international standards. Tech companies at the symposium suggested creating a matchmaking platform for agricultural ventures to find tech companies to collaborate with, and at least one tech start-up has already opened discussions with a coffee exporter on a new solution on traceability standards.

“There are so many complicated issues, some of them are cultural, others are digital literacy and collaboration between stakeholder companies. Everyone, from financial institutions, customs authorities, exporter certification providers, port inspectors, all need to understand what EUDR means. The EU is our biggest market; this is not something we can ignore,” said Seyfu.

Early compliance on the EUDR will enhance the trust of EU buyers. Many of them may start diverting their orders and looking to source coffee from other countries that are prepared for EUDR, noted Sampson.

There has been an increasing demand for ITC’s support in providing more assistance and training to ensure comprehensive compliance, and ITC is currently developing the Deforestation Free Trade Gateway, an online platform which will support small producers across the world comply with EUDR requirements, and connect them to international buyers.

“Commitment from the government, the private sector and business associations will prove  critical, and leveraging tech in agriculture is the best way forward,” Seyfu said. “We need to invest in this as agriculture is a way of life for most Ethiopian families. From the household to the nation, agriculture is everything.”

“This is not just about Ethiopia,” he added. “We need to also engage the African Union and make this a continent-wide agenda. Ethiopia can lead the way.”

Distributed by APO Group on behalf of International Trade Centre.

In a show of solidarity and support, the Organization of Liberian Communities in Nigeria (OLICON) paid a courtesy visit to President Boakai during his visit to Abuja to attend the 65th Ordinary Session of the Authority of ECOWAS Heads of State and Government.

The Delegation, through the Organization’s President, Mr. Garisson Thomas, expressed appreciation for the President’s leadership and efforts to foster unity among all Liberians.

The President of OLICON conveyed his organization’s profound gratitude for the President’s unwavering support and tireless efforts in addressing the challenges faced by Liberians in Nigeria.

He also highlighted the positive contributions of OLICON to the social, cultural, and economic well-being of Liberians in Nigeria. In this light, he sought the President’s assistance with scholarships for Liberian students in Nigeria and employment opportunities for qualified Liberians in Nigeria.

In response, President Boakai thanked the Delegation for the visit and assured them of his continued dedication to serving the interests of all Liberians, both at home and abroad.

The President reiterated his commitment to promoting the welfare and interests of Liberians living in the Diaspora, including Nigeria.

He acknowledged the vital role of OLICON  in representing the interests of the Liberian Community and fostering a sense of belonging among its members.

The meeting, was attended by Foreign Minister Sara Beysolow Nyanti and Liberia’s Ambassador to Nigeria, Dr. Al-Hassan Conteh.

The courtesy visit, according to OLICON’s President Thomas,  underscored the importance of fostering strong relationships between the Liberian government and its Diaspora communities, marking a significant step toward building a more interconnected and supportive network for Liberians living in Nigeria.

Distributed by APO Group on behalf of Republic of Liberia: Executive Mansion.

In support of the development and deployment of liquefied petroleum gas (LPG) solutions throughout the continent, pan-African downstream organization the African Refiners and Distributors Association the UN-backed Global LPG Partnership have mobilized $1 billion in financing for clean cooking solutions in Africa. As such, the participation of ARDA Executive Secretary Anibor Kraghan as a speaker at this year’s MSGBC Oil, Gas&Power 2024 conference – taking place in Dakar from December 3-4 – will showcase the role downstream expansion has in delivering an inclusive energy future in Africa.

Representing the only pan-African organization for the continent’s downstream sector, ARDA’s mandate to become a voice for all African downstream stakeholders is becoming more effective. At a time when disruptions in global supply chains continue to cause price shocks and instability worldwide, many African countries continue to rely heavily on refined product imports. In this context, ARDA advocates the need to improve investment across the downstream sector so that Africa can improve energy security and self-reliance with upgrades to existing refineries, the construction of new facilities and the establishment of regional distribution networks.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilgGsandPower.com to secure your participation at the MSGBC Oil, Gas&Power 2024 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Having recently joined the ranks of oil-producing nations from its first shipment of crude oil from the Sangomar field development this month, Meanwhile, in May 2024, Senegal’s Saint-Louis Region Governor Alioune Badara Sambe announced that the country will build a new 250 MW gas-to-power plant near Saint-Louis, which will leverage gas from the country’s flagship Greater Tortue Ahmeyim (GTA) field – due to start production by the end of this year.

Senegalese energy company West Africa Energy plans to open the country’s first and largest combined cycle gas power station in December 2024. The Cap des Biches plant will have an initial estimated capacity of 160 MW and leverage sizeable gas reserves to be brought online by large-scale projects underway in the region. Currently in its construction phase, the project is expected to enter generate 2,390 GWh of electricity for consumers. Meanwhile, with a capacity of 360 MW, the Sandiara gas-to-power plant is slated to start construction this year in Senegal’s Special Economic Zone and will feature an annual production capacity of 2,900 GWh.

West Africa’s oldest refinery, the Société Africaine de Raffinage refinery in Senegal is currently undergoing major upgrades. The country’s government is currently in discussion with financial institution the African Export-Import Bank to support $500 million in syndicated finance to increase annual production from 1.5 million to 3.5 million tons of refined petroleum products.

With sizeable offshore oil and gas reserves, the MSGBC region’s abundance of natural resources is set to drive downstream investment while providing much-needed energy development to the West African region. In addition to the Sangomar and GTA developments, the MSGBC region is home to the Yakaar-Teranga field, offshore Senegal, which holds confirmed reserves of 25 trillion cubic feet (tcf) of natural gas. meanwhile, the BirAllah gas field offshore Mauritania is estimated to contain nearly 60 tcf of gas and is poised to commence production in the third or fourth quarter of 2024.

In light of these developments, the MSGBC region’s downstream industry represents a highly attractive investment opportunity owing to rising regional demand, industry-focused policies and the introduction of local oil and gas to the market in 2024. As such, Kragha’s participation at MSGBC 2024 is set to examine developments across the regional downstream industry, challenges faced and strategies for expanding infrastructure.

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