Dangote Industries will invest in a $2 billion phosphate project in Togo, positioning itself to become a main supplier of fertilizer in West Africa.
The company controlled by Nigerian billionaire Aliko Dangote will mine an estimated 2 billion tons of phosphate in nearby Togo for processing as much as 1 million tons of fertilizer a year at a new complex in Lagos, according to a joint statement by the company and the Togolese presidency.
“Under the agreement, Togo will provide access to phosphate resources and the Dangote Group will provide access to ammonia and to the Nigerian market,” the parties said in the statement. Ammonia is a key ingredient in the production of phosphate fertilizer.
Nigeria accounts for as much as 50% of harvested land in West Africa, making it a top market for fertilizer consumption growth, according to London-based commodities consultancy CRU.
Dangote is also planning to build a cement plant with an annual capacity of 1.5 million tons in the Togolese capital of Lome, according to the statement. The $60 million facility is scheduled to start operating by the end of next year, using clinker from Togo and Nigeria.
The transition from fossil fuels to cleaner energies is a global pursuit. But it’s faster and more intensive in some countries than others. Take the case of South Africa. Heavily dependent on coal, the country is proceeding with a more intense transition in which renewable energies are set to play a growing role.
Renewable energy technologies have recently established their role in the global energy supply mix. This is because they have begun to overcome two big hurdles. The first was concerns about high cost. The second was their inability to provide secure energy supply. A number of factors have improved their accessibility and affordability. These include technological improvements, economies of scale and increased competition.
The share of renewable energies in the overall energy mix will certainly have an impact on electricity market dynamics. This includes energy prices. Prices are the most effective signal to users and potential investors about alternative energy sources.
That’s why understanding how a higher share of renewable energy in the energy mix influences electricity prices can help policy makers.
The impact on retail prices of electricity isn’t uniform. It differs from country to country, and is influenced by regulatory frameworks. Nor is it the same over time. For example, in Spain, the higher renewable energy share in the mix led to higher electricity prices between 2002 and 2009. This was due to the high costs of the renewable energy technologies at the time. After 2009 prices fell. This was attributed mostly to the reduction of production cost of the renewable energy technologies as well as the economies of scale created.
We set out to look at what affected an increase in the share of renewable energy in the mix. Variables included improvements in technologies, reductions in the cost of producing renewables, changes in market structures and increasing competition.
In all 34 OECD countries in the study we confirmed the positive impact of increased share of renewable energy on the retail price of electricity. But we did find that, under certain market conditions, the inclusion of renewable energies in the supply mix could increase the cost of production. This was then passed on to the end-users.
The econometric model was based on a panel of 34 OECD countries. The variables we used were:
retail electricity prices,
electricity generated from renewable sources as a percentage of total gross electricity production,
a measure of each country’s level of development (the gross domestic product per capita measured in constant 2010 US dollars),
greenhouse gas emissions by the energy sector as a percentage of total greenhouse gas emissions,
energy dependency, and
the market share of the largest electricity generator.
We included greenhouse gas emissions by the energy sector because European Union (EU) countries operate an emission trading scheme. Fluctuations in these emissions have a direct impact on the marginal cost of energy production.
Energy dependency indicates the degree to which the countries are dependent on energy imports. The measure of the market share of the largest electricity generator in the market is included because an increase in this variable would indicate a reduction in competition.
But we made adjustments. One, for example, was for each country’s level of economic development and greenhouse gas emissions by the energy sector as a percentage of total greenhouse gas emissions.
Not all 34 countries had data on the level of competition in the market. So, in evaluating the impact of this variable, only EU 23 countries remained in the sample. In these countries we found that a 1% increase in electricity generation concentration lead to a 0.091% decrease in retail electricity prices. This suggests that increased market power led to a price reduction.
This contradicts perfect competition theory. But it’s in line with other research that found that countries with higher market concentration have more government subsidies which decreases electricity prices. The caveat here is that subsidies have to be used efficiently, else prices rise.
Overall from our results, and controlling for the other factors, a 1% increase in the renewable energy share in the supply mix was responsible for the increase in retail electricity price in a range between 0.03 – 0.046% in each of the countries and period examined.
Do these results therefore call on countries like South Africa to tread carefully on promoting the adoption of renewable energies for fear of electricity price increases?
The answer is complex.
Projections show that in the next two years, renewable energy technologies will – at the very least – be competitive on price with fossil fuels. Renewable energies have the potential to be even more cost effective in the future. The means that the relationship between a rising share of renewable energy in the overall electricity mix of a country and the retail price of electricity will eventually be negative.
As our research underscores, the structure of the electricity market influences the impact of renewable energies on the retail price of electricity. But the impact differs in regulated monopolised markets compared with open and competitive markets.
Another factor to keep in mind is when considering an increase in electricity prices as a result of renewables is that the associated marginal cost is low while the environmental benefit is high.
But policy makers need to evaluate and proactively deal with the specific environments they’re operating in, particularly the short-run consequences of changing the equilibrium of an energy system.
For example, in developing countries economic and social reasons need to be considered equally while the environmental benefit might be considered an added bonus, not the main purpose. In developed countries, on the other hand, the aim might be purely environmental coupled with social awareness.
Anne Marie Oosthuizen, currently reading for her Masters in Economics at the University of Pretoria, was the co-author of the research on which this article is based.
First Singles sales by Alibaba after Jack Ma’s (above) exit nets $13b in one hour
Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles’ Day shopping blitz hit 91.2 billion yuan ($13 billion) within the first hour, up 32% from last year’s early haul of 69 billion yuan.
Akin to Black Friday and Cyber Monday in the United States, Singles’ Day has been promoted as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing rapidly to become the world’s biggest online sales event.
Also known as “Double Eleven”, the festival’s name originates from the calendar date 11/11, with the four ones referencing being single. Alibaba saw sales worth $30 billion on its platforms on Singles’ Day last year, dwarfing $7.9 billion U.S. online sales for Cyber Monday. Yet the 27% sales growth was the lowest in the event’s 10-year history, spurring a search for fresh ideas.
The $486 billion Chinese retail juggernaut kicked off this year’s 24-hour shopping fest with performances by American pop star Taylor Swift and local celebrities like Jackson Yee.
This is the first time Alibaba’s Singles’ Day does not have flamboyant co-founder Jack Ma at its helm, after he resigned in September as chairman.
It also comes at a crucial time for the company, which is looking to raise up to $15 billion via a share sale in Hong Kong this month.
Alibaba continues to dominate the online shopping industry, but not without competition.
In addition to longtime rival JD.com, it now faces competition from upstart Pinduoduo, which surged in popularity in 2017 by targeting consumers in China’s lower-tier cities.
A ground-breaking report on family planning has shown Nigeria as the second slowest growing country, after Mali in West Africa when it comes to the uptake of modern contraception.
This is despite over 6.5million women using a modern method of contraception and modern contraceptive prevalence rate (MCPR) growing at roughly 0.3 percentage points per year, the average rate of 69 countries in focus.
The statistics about Nigeria is contained in a new report, FP2020: Women at the Center produced by Family Planning 2020. The report was launched today on the side-lines of the International Conference on Population and Development (ICPD) in Nairobi, Kenya. FP2020’s latest report is part of the 25-year arc of progress that has lifted hundreds of millions of women and girls since the Cairo Summit in 1994.
The report estimated that the percentage of women in Nigeria with an unmet need for a modern method of contraception (married/in-union) stands at 23.7% in 2019.
Nigeria was part of the first group of countries to commit to the FP2020 partnership when it launched in 2012. Since then, the country has made steady progress toward increased uptake of family planning.
The report estimates that as a result of modern contraceptive use Nigeria, over 2.3 million unintended pregnancies have been prevented, and over 800,000 unsafe abortions and 13,000 maternal deaths have been averted in the last year alone.
In Nigeria, a woman gives birth to an average of 5.5 children in her lifetime. The population of women of reproductive age in Nigeria makes up roughly half of all women of reproductive age in West Africa.
The Government of Nigeria is working with key stakeholders to address socio-cultural norms to address family planning such as: preference for large families, religious tenets, and women’s lack of decision-making power related to sexual and reproductive health.
According to the report, governments and donors around the world are recognising the importance of family planning programs with donor government bi-lateral funding for family planning rising to US$1.5 billion in 2018. This is the highest level since FP2020 was launched in 2012.
The report shows that in the world’s 69 lowest-income countries today more women and girls have access to family planning than ever before. It reveals that 314 million women and girls are now using modern contraception, with 53 million new users in the last seven years, and 9 million in the past year alone.
With almost 60% of its population under the age of 25, Africa is the world’s youngest region.
Ensuring that young women and girls have access to family planning is central to the continent’s future development, paving the way for more educated communities, healthier populations and wealthier nations.
FP2020: Women at the Center has been produced by Family Planning 2020 (FP2020) – a global partnership that supports the rights of woman and girls to decide – freely and for themselves – whether, when, and how many children they want to have.
Beth Schlachter, Executive Director of FP2020, said: “The evidence is clear – when you invest in women and girls, the good deed never ends. Barriers are broken and opportunities open up that not only lift women out of poverty but can elevate society and bring about economic gains. No other single change can do more to improve the state of the world.”
She continued, “25 years on from the first ICPD, the family planning movement has gained huge momentum. Yet big challenges remain. With every day that passes, millions are denied the right to choose their own future. As we look ahead to 2030, we must continue to push for progress, build on what works well, and ensure we leave no woman or girl behind.”
Challenges remain significant as FP2020 approaches a key timebound deadline. Progress must keep pace to unlock the fullness of human potential
While progress has been significant, FP2020 approaches its deadline year and the initial numeric goal of reaching an additional 120 million women and girls has yet to be realized. The challenge of putting women and girls at the centre of development remains critical.
There are 926 million women of reproductive age today across the 69 FP2020 countries – 100 million more than there were in 2012. With this number expected to surpass 1 billion in 2025, millions more women will need vital family planning services.
As the global community looks ahead to the post-2020 framework, the importance of putting women and girls at the centre of development is paramount. More work is ahead, and the challenge will be to deepen existing commitments and approaches to ensure that the needs and rights of women and girls around the world are met and respected.
Other key findings from FP2020’s Progress Report 2019-2020 include:
*The FP2020 partnership continues to expand, with new commitments this year from Angola, the Central African Republic, The Gambia, and others.
*Modern contraceptive prevalence among all women (MCPR)—is rising. Across the 69 FP2020 focus countries, MCPR among all women of reproductive age has risen by more than 2% since 2012. The sharpest increase has occurred in Eastern and Southern Africa (7%).
*In FP2020 focus countries in Asia, approximately 38% of women of reproductive age were using a modern method as of July 2019, and the average growth across the regions of Asia has been 0.2 percentage points per year since 2012.
*Seven donors increased their funding of family planning in 2018: Canada, Denmark, Germany, the Netherlands, Norway, the UK, and the US.
*India, Bangladesh, and Indonesia have the highest levels of domestic government expenditure out of all 69 countries.
Tizeti, Nigeria’s pioneer solar-based internet service provider, has launched its 4G LTE network in Nigeria, with the plans to extend to leading cities in Nigeria and West Africa in 2020.
Announcing the rollout of high-speed 4G services to Rivers, Ogun and Edo States, in a first phase launch, Tizeti’s Chief Executive Officer, Kendall Ananyi promised its 4G connectivity will empower more Nigerians in Nigeria’s South-South and South-West states, stimulate economic activities and provide unlimited access to affordable and reliable broadband services.
This launch followed the build of brand-new, solar-powered, 4G-capable towers in Port Harcourt, Rivers State where Tizeti will offer its first 4G and ISP services, to be followed by new towers in Ogun and Edo.
Mr. Ananyi said that this new solution will boost internet penetration in the new states and contribute to accelerating digital transformation across Nigeria.
”Access to affordable and reliable unlimited internet connectivity has been an intractable problem for a lot of Nigerian businesses and residential customers, especially for people in Edo, Rivers and Ogun States. To address this and provide a sustainable and cost-effective solution, we leverage our solar-powered, always-on towers and robust internet bandwidth from MainOne to create a low CAPEX and OPEX network of owned and operated towers. This allows us to offer customers unlimited internet at 30 to 50% the cost of traditional mobile data plans”.
The launch of its 4G network provides Tizeti the opportunity to drive the growth in demand for eCommerce, music, interactive games and video consumption in Nigeria, especially from popular social media apps that have integrated video calling and video stories as well as content sites such as YouTube, Netflix, and Iroko.
The price for a Tizeti unlimited plan is 9,500 Nigerian Naira per month. The company has 1.1 million unique users and internet services that include a new Skype-like personal and business enterprise communications service — https://WifiCall.ng/ and access to video streaming sites & services