As the leading Africa-focused energy investment and policy platform, Energy Capital & Power (ECP) has intensified its investment promotion efforts in 2022 across Africa’s oil, natural gas, mining, renewables and infrastructure sectors.
With factors such as the Russia-Ukraine War, energy transition-related policies and the COP27 Summit shaping the global energy narrative in 2022, here are the top five African energy news stories covered by ECP this year.
Uganda Discovers 31 million Tons of Gold Ore
Published on July 6, the article explores Uganda’s potential for gold exploration and production based on the results of exploration surveys released by the country’s Ministry of Energy and Mineral Development. The aerial geophysical and geochemical surveys, conducted over a period of two years, suggest that Uganda holds approximately 31 million tons of gold ore, from which an estimated 320,158 tons of refined gold – worth more than $12.8 trillion – could be extracted. The news followed the Ugandan Government’s decision to partner with Chinese mining firm Wagagai to start production in Busia District and construct a $200-million refinery, as part of efforts to develop the country’s mining sector.
Read more about Uganda’s growing gold industry here.
Biggest Oil Producers in Africa in 2022
Highlighting Africa’s potential to help global markets secure a stable energy supply – in light of sanctioned Russian gas due to the Russia-Ukraine war – this ECP listicle published on June 8 ranked the national output of leading African oil producers. Notably, Angola assumed the number one spot as Africa’s largest crude oil producer in the same month, a title previously held by Nigeria. The article also examined factors such as natural declines in legacy projects, underinvestment in exploration and geopolitical conflicts in hindering production across the continent, and how producing countries are addressing these challenges. To find out more on production trends within Africa’s crude oil industry, continue reading here.
Top Five EV Brands Coming to South Africa
With the electrification of the transport sector gaining momentum globally, as part of efforts to decarbonize heavily polluting industries like energy, infrastructure and transportation, ECP identified global automakers that have adopted plans to enter the South African electric vehicles (EVs) market. Published on June 24, the article highlighted the top five EV brands and the models they have launched in South Africa, as well as current trends shaping the domestic EVs market. Read more about South Africa’s experience with EVs here.
Top Ten Most Electrified Countries in Africa
Despite the continent’s energy access woes, Africa has recorded significant progress in boosting electrification rates for its local populations by leveraging a mix of energy resources that include oil, gas, coal and renewables for power generation. With an increasing number of countries aiming to achieve the United Nation’s Sustainable Development Goal 7 of providing universal access to affordable, reliable and modern electricity services, this article highlighted the top ten countries in Africa leading the way when it comes to connecting rural and urban consumers to national grid and off-grid networks. Find out more about Africa’s electrification progress here.
Top Five Oil Rigs Operating in Africa
With targets in place to meet a larger share of the global trading and shipping markets, Africa’s top oil producers are seeking solutions to catalyze investment in the oil and gas sector and tap into the continent’s 125.3 billion barrels of oil reserves. As a result, the demand for rigs across the continent has continued to rise in 2022. Exploring this rise in post-pandemic demand, ECP published an article on July 12 highlighting rig facilities in operation across the continent, their respective capacities and their impact on the region’s energy production. Read more about Africa’s trading and shipping markets here.