Seeds of Opportunity: The African Growth Series
August 2023 | Issue 2
In this week's issue, you will learn more about:
- AFRICA OPPORTUNITY: South Africans Take Loadshedding into their Own Hands
- AFRICA TREND: Fighting Fake News
- AFRICA OPPORTUNITY: Three-Phase Plan for a green hydrogen economy
- UPCOMING EVENT: Hydrogen-Africa 2023
- UPCOMING EVENT: Transport Evolution Africa Awards
- UPCOMING EVENT: Africa Energy Week 2023
AFRICA TREND: South Africans Take Loadshedding into their Own Hands
Loadshedding has been plaguing South Africans for over a decade, but the recent stages experienced to date have set new records. As of July 2023, we only had one day of no loadshedding, with a total of 4079 hours without electricity, which equates to 170 days. Eskom’s struggle to supply reliant and consistent energy has resulted in many South African households and businesses moving to solar rooftop installations to offset their demand from the grid. Eskom has recently released statistics indicating that the country’s installed solar rooftop PV capacity has increased from 983 MW in March 2023 to 4,412 MW in June 2023, representing a growth rate of 349%. This has been fundamental in ensuring the country is not plunged into a nationwide blackout. It has allowed the public utility to reduce loadshedding hours and provided it with crucial time to conduct maintenance on its ailing coal-power fleet and restore its pumped hydro and diesel storage. The increase in solar rooftop installation is expected to grow substantially over the next five years as municipalities (starting with Cape Town) will begin to implement feed-in tariffs for all small-scale embedded generation systems (SSEG), further alleviating loadshedding as a domestic generation will not only reduce demand from Eskom’s grid but further supply electricity to the grid. While there are certainly no short-term fixes to South Africa’s loadshedding woes, the country is on the right path to overcome its energy challenge in the long term. It once again displays the unique resilience South Africans have to external pressures.
AFRICA TREND: Fighting Fake News
General Abdourahamane Tchiani took control of Niger on July 26, 2023, by leading a coup and declaring himself head of state. Rampant misinformation and propaganda disseminated through social media platforms notably influenced this upheaval, leading to assaults on the media. Posing severe threats to press freedom and journalists’ ability to provide unbiased reporting. More than 384 million people use social media in Africa, and social media penetration surpasses many other regions. Facebook holds 57.35% of the market share, Instagram has 23.11% and Pinterest has 8.76% in the continent.
Given the misinformation crisis, several technological solutions are emerging. AI is being developed to detect and differentiate between genuine and fake news by recognising patterns. Whilst blockchain’s capabilities are being harnessed to spotlight the most harmful misinformation. With over 1,100 investors actively participating in Africa’s tech market, venture capital investments in startups are predicted to reach an impressive $7 billion in 2023. Furthermore, C5 Capital invested a notable amount of U$50 million in Cassava Technologies, an integrated tech firm in Africa, to advance digital connectivity and counter harmful misinformation. This dynamic underscores the immense potential and growth trajectory of Africa’s investment domain.
AFRICA OPPORTUNITY: Three-Phase Plan for a green hydrogen economy
Hydrogen is undoubtedly part of the future of energy, with green hydrogen hailed as the key to clean energy transition. So how can Africa implement hydrogen as a fuel source for the anticipated future local demand?
Learn more here in an article by Patrick Prestele: https://www.esi-africa.com/industry-sectors/future-energy/three-phase-plan-for-a-green-hydrogen-economy/
UPCOMING EVENT: Hydrogen-Africa 2023
Come and meet us on 28th-29th September 2023, at Emperors Palace, Johannesburg to engage with energy experts and other renowned industry leaders to accelerate the future of Africa's Hydrogen Economy!
Join industry expert Patrick Prestele, Consultant at Frost & Sullivan Africa as he shares his insights into the Feasibility of Hydrogen Production in Africa on 28 September.
➡ Delegate Registration link:
Delegate Registration link: https://lnkd.in/dmtWuevd
Email: marketing@hydrogen-africa.com
Contact: +27 (0) 65 982 8810
UPCOMING EVENT: Transport Evolution Africa Awards
The Transport Evolution Africa Awards serves as a powerful platform to recognise, reward and celebrate those who have not only transformed the industry but have also left an indelible mark in driving enterprise development, sustainability, and inclusivity.
Join us on 21 September 2023 at the Durban ICC as we honour these remarkable individuals and organisations, for their outstanding contributions. Together, we’ll embrace a future where innovation and progress lead the way, leaving no stone unturned in our quest for a brighter and more connected tomorrow.
Click here to book a seat or table - https://lnkd.in/dTVKCQqt.
UPCOMING EVENT: Africa Energy Week 2023
Join us at this year's AEC African Energy Week event from 16-20 October at the V&A Waterfront, Cape Town, South Africa, and experience Africa's booming energy markets.
⏰ Secure your spot now! Be part of 'The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets' by registering here: https://lnkd.in/d9y9Z2Tv.
For more about opportunities in Africa, please contact Lynne Martin.
