Select Page

AfDB, AU to develop a blueprint for a pan-continental electricity network

AfDB, AU to develop a blueprint for a pan-continental electricity network

The African Development Bank and the African Union Development Agency (AUDA-NEPAD) have agreed to jointly develop a blueprint for a pan-continental electricity network and market.

The agreement to set up a Continental Power System Master Plan was unveiled on 29 November during a three-day workshop on the sidelines of Programme for Infrastructure Development week held in Cairo. The workshop also produced the masterplan’s terms of reference.

“The Continental Power System Master Plan will ensure that competitive electricity markets are developed at regional and continental levels, creating unique opportunities to optimally utilize Africa’s vast energy resources for the benefit of Africa,” said Professor Mosad Elmissiry, a Senior Energy Advisor to AUDA-NEPAD’s CEO.

The workshop was aimed at advancing the launch of an Integrated Continental Transmission Network to link national power utilities into regional power pools and, ultimately, into a continent-wide transmission network. Plans also include setting up a market for electricity trading.

The Masterplan also will inform the energy component of a PIDA Action Plan, which focuses on key regional integration projects.

Development of a unified electricity transmission network and market for electricity trading are viewed as a critical priority to improve the lives of people across the continent.

“Most state-owned electric utilities in Africa today are unable to secure the financial resources needed to implement required segments of regional interconnectors and associated national feeder lines,” said Angela Nalikka, the Bank’s manager for National and Regional Power Systems, to explain the impetus for the partnership. “The Bank plans to encourage private sector participation in transmission projects in the continent.”


 

About The Author

Intern

The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals at economic and financial institutions. - Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.