Ogilvy Africa Nigeria Strengthens Senior Leadership Team

Brand Spur
-
0
Ogilvy Africa Nigeria Strengthens Senior Leadership Team

The First Primus Group (consisting of Nigeria operations of Ogilvy Africa, amongst other subsidiaries) has today announced senior-level appointments to bolster its country’s leadership team and the business.

The three new appointees, announced by the Group CEO of First Primus Nigeria, Seni Adetu,  include Henry Akpede, who will be the new Country Manager and Chief Creative Officer, Sandeep R Inamke, Director Business Development & Strategy, and Jolomi Awala as the Creative Director. They will work closely with the regional leadership team at Ogilvy Africa, led by CEO, Vikas Mehta.

Ogilvy Africa Nigeria Strengthens Senior Leadership Team -Brand Spur Nigeria
Henry Akpede-Brand Spur Nigeria

Henry Akpede is a creative professional with over 15 years’ experience working in some of the top advertising agencies and is expected to bring in strong insight-driven creative skills and hands-on experience in creative project management, connected consumer journeys and creative innovation.

He will be charged with the responsibility of of leading the day-to-day business operations while doubling as the backbone of quality assurance of the creative service delivery.

 

 

Ogilvy Africa Nigeria Strengthens Senior Leadership Team -Brand Spur Nigeria
Sandeep R Inamke

Sandeep Inamke is a seasoned brand & advertising professional with over 25 years of work experience and has worked across continents, categories,  and managed multinational brands in India, Tanzania, Uganda, Kenya, Nigeria & South Africa.

Jolomi Awala is an experienced Creative Leader with 12 years of hands-on experience garnered mostly at Insight Publicis Limited and is highly effective in creatively utilizing storytelling and brilliantly executing the same in deepening the connection between brands and consumers for impactful marketing communication solutions.

Ogilvy Africa Nigeria Strengthens Senior Leadership Team -Brand Spur Nigeria
Jolomi Awala

He has worked across a range of Nigerian and global brands.

In his remarks following the appointments, Seni Adetu noted that “The new appointments are expected to reassure our clients of our intent at continuing to partner with them to achieve new heights of possibilities for their businesses.

Our core objective as a company is to deliver the best to clients and I believe this team will help us to achieve this and much more”

Ogilvy Africa CEO Vikas Mehta said “we value Seni’s continued commitment to strengthening Ogilvy Africa in Nigeria by ensuring we have the right people driving the agency. We expect the new leadership team to bring a significant difference in the value to our clients in this key market. We are proud of what Henry has done over the years for the agency, and welcome Sandeep and Jalomi to the Ogilvy Africa family.”

NDPHC, EkoDisco, Address Electricity Supply Shortfall In Lekki And Agbara

Brand Spur
-
0
NDPHC, EkoDisco, Address Electricity Supply Shortfall In Lekki And Agbara

In order to improve electricity supply around the Ibeju-Lekki area in Lagos and Agbara Industrial area in Ogun State, the Niger Delta Power Holding Company (NDPHC) and Eko Electricity Distribution Company Plc (Eko Disco), have signed a bilateral agreement for the sale of up to 300MW of power from NDPHC’s power plants to customers in these areas within Eko Disco’s franchise areas.

The Lagos State Governor, Mr. Babajide Sanwo-Olu who hosted the signing of the agreement for these projects at Lagos House, Marina recently, commended the initiative by NDPHC and Eko Disco, and stated that “he will monitor the implementation of the agreement.” The Governor expressed his confidence that the collaboration between NDPHC and Eko Disco will complement the current policies of the state government in economic and infrastructure development.

NDPHC and Eko Disco have committed to work together to deliver safe, reliable and steady supply of power to customers in the areas of collaboration. The project will be structured to remove the commercial and technical inefficiencies in the Nigerian electricity market and will mobilise significant capital investment in transmission/distribution infrastructure and metering technology.

In his remarks, the NDPHC Managing Director/CEO, Mr. Chiedu Ugbo stated that the challenges in the industry inspired NDPHC to “source alternative means to sell and ensure dispatch of its stranded power generation capacity and explore innovative ways to unlock investment in infrastructure for improved supply to customers.”

In turn, the MD of Eko Disco, Engr. Adeoye Fadeyibi said that the partnership aligns with the efforts of the Eko Disco to bridge the metering gap and improve the quality of electricity supply to customers. He appreciated customers for their continued support for the Company in its quest to continue to empower the quality of lives of all stakeholders.

The agreement signed between NDPHC and Eko Disco is only the latest milestone in NDPHC’s innovative and ambitious programme to tackle the industry-wide challenges in the Nigerian power sector. These challenges have resulted in the inability of the operators in the industry to fulfill their investment and industry payment obligations, and continuing low access to reliable power for industry, businesses and homes.

Despite a significant installed generation capacity – estimated to be more than 13,000 MW – access to electricity remains acutely low because much of this installed capacity is stranded and cannot be conveyed to customers because of inadequate transmission and distribution capacity.

Operators insist that tariffs remain at a level that cannot guarantee returns for investors in the sector and as a result, an estimated $20 billion capital investment required to upgrade the transmission and generation infrastructure is not available. Insufficient investment in metering, collection and surveillance, among other factors, has also made collections by the distribution companies inefficient, thereby causing revenue loss across the value chain.

A combination of these factors has led to severe liquidity shortfalls and a ballooning deficit in the market, and there simply is not enough collections from customers to cover the cost of power generation and delivery. The Federal Government has on several occasions intervened with financial bailouts to the sector, but this solution is only short-term and is becoming an increasingly heavy burden on a cash-strapped government struggling with low oil prices and a struggling national economy.

The operators in the industry have had to innovate or go out of business. It is in this regard that NDPHC is blazing a trail in structuring deals that are solving many of the industry-wide challenges affecting its business. NDPHC holds a portfolio of 10 power plants with an aggregate installed capacity of more than 4,000MW and growing.

To ensure that much of its capacity does not remain idle, NDPHC, with support from Electric Utilities Nigeria Limited, is now targeting to work with discos and other project developers to, in the first phase, sell more than 1,000MW from its power plants in manner that resolves the current commercial and technical inefficiencies in the market without a need for government funding intervention.

In addition to the agreement signed with Eko Disco, NDPHC has executed similar agreements with Port Harcourt Electricity Distribution Company Plc, Enugu Electricity Distribution Company Plc, Kaduna Electricity Distribution Company Plc and Benin Electricity Distribution Company Plc.

In each case, the parties will mobilise investment in the expansion of the distribution network of the discos to enable increased offtake of power and in metering technology including smart meters in order to increase the collection rate of the discos.

For NDPHC, these collaborations will lead to greater offtake of power from its under-dispatched power plants, thereby increasing the company’s revenue. For the industry generally, these collaborations will attract the requisite investment in the industry and increase liquidity that enables higher payment receipts across the value chain.

Now that NDPHC has executed the agreements with 5 discos and more in the pipeline, it is projected that the impact on the Nigerian power sector will be massive in improving electricity access, market payments and attracting more investments to the industry.

 

5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20

Brand Spur
-
0
5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20

One of the world’s most prestigious audience data-based awards, ID Africa’s NET Honours will hold on Sunday, June 20, 2021.

Organisers Info Digital Africa, owners of Nigerian Entertainment Today, from which the data is sourced and analyzed, say this year’s edition will remain entirely virtual with plans to reach even more people globally.

ID Africa’s NET Honours is an annual recognition of top performers in the entertainment industry and public sector based on audience data from Info Digital Africa’s media channels. NET Honours recognizes achievers through a thorough analysis of audience search results, consumer interest, social media interactions and trends.

Info Digital Africa CEO, Femi Falodun, says “NET Honours is a one-of-its-kind platform where we recognize and celebrate some of Nigerians’ favorite celebrities and public figures, strictly based on data and insights from our network of media platforms and social channels.

5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20-Brand Spur Nigeria
Info Digital Africa CEO, Femi Falodun-Brand Spur Nigeria

Last year, we recognized over 73 individuals and organizations and reached over 10 million people in 31 countries. We expect to reach an estimated online audience of 15 million on June 20, when we announce this year’s winners.”

ID Africa’s NET Honours is based on engagement from over 8 million internet users reached across websites, social media and related channels of Netng, Neusroom, 234Star and Orin between June 2020 and May 2021. The event celebrates musicians, actors, comedians, reality TV stars and public personalities who are subjects of Nigeria’s most exciting conversations in the year under review.

Falodun adds: “Over 90% of the audience on our media properties, Netng, Neusroom, 234Star and Orin, are Nigerians below 40 years old. This means that NET Honours provides valuable insights into the people, events and pop culture interests that appeal most to Nigeria’s digital natives and entertainment content consumers.”

The 5th edition of NET Honours will feature 25 categories, including Most Popular Male Musician, Most Popular Event, Most Searched Actress, Most Played Pop Song, Most Popular Couple, and many more.

5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20-Brand Spur Nigeria
RMD-Brand Spur Nigeria

For the first time, organizers are adding new categories celebrating the most played songs in Nigeria during the period under review. These awards will include songs across five genres, namely: Pop, Hip-Hop, Alternative, Street Hop and R&B/Soul.

According to organisers, the Most Played Songs categories are based on verifiable data supplied by Corrents, a Nigerian music analytics startup. The company analyses data from airplay on over 100 local radio stations and streaming platforms like Spotify, YouTube, and Apple Music.

Celebrities and public figures such as Wizkid, Cardi B, Cristiano Ronaldo, Juliet Ibrahim, Tiwa Savage, Toke Makinwa, Tacha, Alibaba and Ebuka have won awards in previous editions of the event.

5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20-Brand Spur Nigeria
5th Edition Of ID Africa’s NET Honours To Hold On Sunday, June 20-Brand Spur Nigeria

Nominees for NET Honours People’s Choice Awards Class of 2021 will be announced on Sunday, June 13, and winners will be announced during a live virtual global event on Sunday, June 20, 2021.

Gender Equality In Poorest Nations Hinges On Post-Pandemic Policy Choices

Brand Spur
-
0
Gender Equality In Poorest Nations Hinges On Post-Pandemic Policy Choices

As policymakers in the least developed countries address COVID-19’s social and economic consequences, they must ensure recovery efforts are gender-responsive.

Although the number of confirmed COVID-19 cases per capita has been lower in the least developed countries (LDCs) than expected, the socio-economic fallout for their populations has been dire, pushing an estimated 32 million more people into extreme poverty in 2020.

Women in these countries have borne the brunt of the crisis, as they work mainly in the hardest-hit sectors, such as tourism, horticulture and textiles.

A new study by UNCTAD and the Enhanced Integrated Framework (EIF) warns that the gender gap in income and overall well-being in LDCs will continue to worsen unless COVID-19 recovery efforts adopt a gender perspective.

“As policymakers urgently try to restart their economies, they should ensure that both women and men receive the necessary means and support to recover from this crisis,” UNCTAD Acting Secretary-General Isabelle Durant said as she presented the study on 8 March.

“For an inclusive and better recovery, policies must be gender-sensitive.”

Gender-responsive trade policies needed

The study, Trade and Gender Linkages: An analysis of Least Developed Countries, provides recommendations to help LDC governments adopt trade-related polices that are more gender responsive.

EIF head Ratnakar Adhikari said: “We had a long way to go to fix the world’s gender gap, and the pandemic has made the journey even more arduous, especially in the world’s poorest countries, where the challenges facing women are even more dire.”

“But if we’re committed to transforming the lives of women across the globe, we have to start with the least developed countries.”

The report launch was held as part of UNCTAD’s Les 8 du mois – Until we’re there initiative to keep gender equality issues on the agenda every month.

The analysis and discussions will feed into the high-level debates on vulnerability and inequality during UNCTAD15 – the organizations 15th ministerial conference set for the week of 3 October.

Export opportunities aren’t gender-neutral

The economies of LDCs – a group of 46 countries that more than 1 billion people call home – are highly dependent on a few exports.

For some, such as most African LDCs, these are agricultural goods and minerals. For others they’re textiles (most Asian LDCs) or tourism services (small islands).

Such a dependence on exports and lack of economic diversity makes the group extremely vulnerable to the ups and downs of global trade and world markets.

The worry that women will benefit less than men as trade picks back up lies in the different roles men and women play in LDCs’ main export sectors, the report says.

Held back by subsistence farming

In LDCs, women make up between 41% and 45% of total employment in agriculture, but gender segregation holds them back in subsistence farming due to their traditional role of providing food security for the family.

“This means that women working in agriculture in LDCs earn less than men and are less able to take advantage of export opportunities,” said Simonetta Zarrilli, head of UNCTAD’s trade, gender and development programme.

The report recommends that governments conduct gender value chain analyses in key agricultural export sectors to identify the existing gender gaps and formulate policies that better target the barriers women face.

These include customary laws that prevent women from owning land and other property that would help them get credit.

Solutions may include policies to boost women’s participation in extension services as well as targeted loan programmes for women in key export sectors.

Formalization can have unintended consequences

Informal work in artisanal and small-scale mining is an important source of income for women in LDCs, especially in Africa.

For example, women make up around 75% of workers in small-scale mining in Guinea and 50% in Mali. But they mainly perform tasks that are paid less, rely on manual labour and entail high health risks, such as crushing marble.

The report warns that the push to formalize artisanal and small-scale mining could leave women further behind in the sector.

“Women are mostly excluded as license holders and decision-makers in miners’ cooperatives and committees, especially in sub-Saharan Africa, so they’re unlikely to benefit from formalization focused on licenses and cooperatives,” Ms. Zarrilli said.

To avoid such an outcome, the report urges governments to simplify formalization procedures and ensure women have the tools and knowledge necessary to successfully complete required steps.

Better wages, but still less than men

Manufacturing exports are especially important in Asian LDCs, as well as a few African ones, and there has been “a feminization” of jobs in export processing zones (EPZs) – exclusive areas where imported materials undergo some degree of processing before being exported.

In Cambodia, half of employees in these zones are women. And they make up more than 62% of the workforce in Haiti’s EPZs.

While the wages in EPZs are higher than outside the zones – 17% higher in Lesotho, for example – women still hold jobs that are lower on the wage scale, and labour standards are often inadequate.

Within the manufacturing sectors across LDCs, women are concentrated in the lower-paid, lower-skilled positions, while management roles are more frequently held by men – who therefore benefit more when LDCs’ manufacturing exports increase.

To help reduce the concentration of women in low-skilled manufacturing jobs, the report says governments should give more priority to active labour market policies, such as vocational training programmes, and demand-side policies, including programmes that provide incentives to specific sectors.

A new approach to tourism

In African and island LDCs, tourism offers women important entrepreneurship and employment opportunities – though most are informal and temporary.

In Tanzania, for example, 38% of women don’t have formal contracts. This is the case for 46% of the women working in tourism in Mozambique.

Like manufacturing, the sector is also marked by intense job segregation, with men holding most management and leadership positions while women perform primarily the low-skilled, low-paid tasks, such as housekeeping, kitchen work and waitressing.

“Advancing gender equality goals through the sector would require a tourism model based more on small and medium-sized enterprises,” Ms. Zarrilli said, citing the examples of agri-tourism, eco-tourism and community tourism.

“Another promising path to support women in the LDCs,” she said, “would be to build stronger links between tourism and other economic sectors, including agricultural value chains, garments and the production of handicrafts.”

The “Trade and Gender Linkages: An analysis of Least Developed Countries” study is also a new training module for UNCTAD’s online course on trade and gender. A new cohort of 184 trainees, including government officials, academics and civil society representatives, started the course on 31 May and are expected to complete the training on 25 July.

Nigeria Info And Wazobia Max Gain Broadcast Rights Ahead Of Euro 2020

Brand Spur
-
0
Nigeria Info And Wazobia Max Gain Broadcast Rights Ahead Of Euro 2020

In a bid to create a quality sport-broadcasting experience for Nigerians, Nigeria Info and Wazobia Max, under the auspices of AIM Group, have been awarded the broadcast rights from the official UEFA-licensed owner in Nigeria, Media Business Solutions (MBS), to freely air the UEFA Euro 2020 tournament across the country.

The competition would be broadcast across Wazobia FM, Arewa Radio, Cool FM Kano, and Wazobia Max both in English and selected local languages, including Pidgin English, Hausa, Igbo, and Yoruba, in order to cater for the sporting needs of a wide spectrum of Nigerians.

Commenting on the ground-breaking development, Serge Noujaim, the Chief Executive Officer (CEO) for Cool FM, Wazobia FM, Nigeria Info, Arewa Radio, described the partnership as one that would further strengthen the love Nigerians have for the game of football.

“We as a leading brand understand that most Nigerians are genuinely passionate about the game of football. That is why we have taken it upon ourselves to go a step further after the acquisition of the World Cup 2018 Russia broadcast rights by partnering with the MBS to freely broadcast the UEFA Euro 2020 tournament in a unique Nigerian style. This partnership helps to reaffirm the position of Nigeria Info, Wazobia FM, Arewa radio, and Wazobia Max as the home of the biggest international football offering across the Nigerian-media space,” he enthused.

Complimenting the statement of the CEO, Femi Obong-Daniels, the General Manager, Corporate Communications of the radio group, said, “We as a top-notch broadcast brand have taken a massive move to provide Nigerians with a premium sport coverage. We have done it before. We are doing it again and we do not know how to stop this upward trajectory we have found ourselves to be on. We are sure there are more to come as our precious partnership with MBS is just the beginning.”

Speaking on the partnership with Nigeria Info and Wazobia Max, Richard Dimosi Diasolwa, the CEO, MBS Group, stated, “We, as a multimedia organization, are always delighted to be affiliated with Nigeria Info and Wazobia Max. This is because we are sure it would afford Nigerians the opportunity to connect with the biggest European football competition in a unique way.”

To catch every moment of the UEFA Euro 2020 tournament, live broadcasts would commence from June 11, 2021, to July 7, 2021, across our stations nationwide.

Q1-2020: Trade Deficit Worsens On The Back Of Currency Devaluation

Brand Spur
-
0
Q1-2020: Trade Deficit Worsens On The Back Of Currency Devaluation

Recently, the National Bureau of Statistics (NBS) released the Terms of trade report for Q1-2020. The report showed that total trade increased by 14.1% y/y and 7.0% q/q in Q1-2021.

The increase in total trade comes as no surprise considering the impact of exchange rate devaluation on the naira cost of imported goods coupled with the increase in economic activities.

Overall, Nigeria’s total trade in merchandise closed at N9.7tn in Q1-2021, while trade deficit printed at N3.9tn, representing a 1095.3% y/y increase and a 44.4% q/q increase.

The increase in trade deficit was driven by a surge in imports (+54.3% y/y to N6.9tn) as exports (-29.3% y/y to N2.9tn) plunged during the quarter.

The surge in imports was primarily due to a 19.9% q/q rise in the Premium Motor Spirit (10.0% of import bill), which rose to N687.7bn in Q1-2021.

We attribute the increases in the value of imports to global inflationary pressures and currency devaluation in 2021. The value of total exports in Q1-2021 decreased by 9.0% q/q against the level recorded in Q4-2020 and 29.3% y/y compared to Q1-2020.

Petroleum products accounted for most of Nigeria’s exports, making up 82.0% of total exports in Q1-2021. The decline in exports was broadly driven by weaker y/y oil prices in Q1-2021 relative to Q1-2020 as well as steep decline in production.

Our outlook for exports for Q2-2021 remains promising, considering the uptick in oil prices and the potential increase for output considering OPEC+ monthly revision tied to the global vaccination rollouts and rebound in global economic output.

For imports, considering the economy’s expected increase in demand coupled with the low base for exchange rate, we expect the value of imports will keep Nigeria in a trade deficit for the rest of 2021.

LASACO Assurance Appoints New Managing Director

Brand Spur
-
0
LASACO Assurance Appoints New Managing Director

The Board of Directors of LASACO Assurance Plc. has appointed Razzaq Abiodun as the new Managing Director/Chief Executive Officer, of the underwriting firm.

The appointment followed the retirement of the firm’s former managing director, Segun Balogun, who retired from the company effective from May 29, 2021.

Balogun is a financial industry expert with experience that span over three decades. Prior to his appointment as Managing Director of LASACO Assurance Plc in 2016, he was the Chief Executive Officer of FBN General Insurance Limited. He was also the former MD/CEO of WAPIC Insurance Plc for 13 years.

He is an alumnus of the prestigious University of Lagos, a Fellow of the Chartered Insurance Institute of Nigeria and an Associate of the Chartered Insurance Institute of the United Kingdom.

The new Managing Director, Abiodun has over 30 years experience in the insurance industry with technical expertise in claims, reinsurance, underwriting and marketing.

He worked for a host of leading insurance companies like the defunct City Union Insurance, Metropolitan Trust Insurance (now Consolidated Hallmark), WAPIC Insurance Plc, among others.

Abiodun joined Lasaco Assurance Plc in 2017 as Executive Director, Technical and later became Deputy Managing Director Technical.

He is an alumnus of the Lagos State University and the Ghana Institute of Professional Studies (GIMPA), where he obtained a MBA and LLB respectively.

 

NBS: Nigeria Records N3.94 Merchandise Trade Deficit Q1 2021

Brand Spur
-
0
NBS: Nigeria Records N3.94 Merchandise Trade Deficit Q1 2021

Recently released data by the National Bureau of Statistics (NBS) on foreign trade statistics showed that total merchandise trade rose by 6.99% to N9.75 trillion in Q1 2021 (from N9.12 trillion printed in Q4 2020).

Given the higher import transactions which outweighed exports, Nigeria recorded a merchandise trade deficit of N3.94 trillion in Q1 2021.

Specifically, exports which constitute 29.7% of the total trade fell q-o-q by8.99% to N2.90 trillion in Q1 2021. Imports which accounted for 70.21% of the total trade rose by 15.6% to N6.85 trillion.

Further breakdown of the total exports showed that sale of crude oil accounted for 66.38% (N1.93 trillion), falling from N2.52trn in Q4 2020 – likely due to the country’s compliance with Opec’s production quota as well as difficulty in selling Nigeria’s grades amid competition.

Noncrude oil exports which represented 33.62% (N0.98 trillion) of the total export grew q-o-q by 45.20%.

Imports into the country rose q-o-q by 15.6% to N6.85trn in Q1 2021. The rise was partly driven by higher agricultural goods imports (+18.37%), solid minerals import (+36.77%), energy goods import (+34.39%) and imported manufactured goods (+18.47%) respectively.

Major suppliers of goods to Nigeria include China, Netherlands, and India respectively as their respective share of total imports stood at 29.57%, 10.20% and 8.56% in Q1 2021.

In the quarter under review, Nigeria exported goods worth N2.82trn to fellow members of the Economic Community of West African States, lower than the value of N1.44trn recorded in the previous quarter. This represented 37% of total exports within Africa.

The dilapidated state of infrastructure in the country, insecurity and the unfriendly business environment has continued to adversely impact on Nigeria’s foreign trade balance. These challenges have hampered the country’s transformation to an industrialized, export- riented economy which could have enabled value addition to commodities in order to boost exports.

We thus anticipate lower foreign currency receipts and sustained foreign exchange pressures in the medium term pending the rebalancing of the trade equation on account of likely energy independence being anticipated when Dangote Refinery kicks off.

GE Releases Position Paper On Accelerating S’Africa’s Energy Transition With Gas Power And Renewables

Brand Spur
-
0
GE Releases Position Paper On Accelerating S’Africa’s Energy Transition With Gas Power And Renewables

Whitepaper discusses South Africa’s urgent need for affordable, reliable, and sustainable energy, to spur industrialization while addressing its climate change ambitions; Highlights how flexible gas power will play a critical role in South Africa’s future energy mix; Underscores how gas power complements renewables with a clear path to decarbonization through coal to gas switching; Recommends LNG as fuel of choice for implementation of South Africa’s Gas to Power program.

Download report here: https://bit.ly/3fZK0ME.

As South Africa is addressing climate change as an urgent priority with strong commitments on policy and regulation, GE (NYSE: GE) today shared its position that the accelerated and strategic deployment of both renewable energy and gas power can make substantial progress in combatting climate change in the near-term, while securing a path to a lower-carbon emitting world in the future.

In the newly published position paper, titled “Accelerating South Africa’s energy transition with gas power and renewables”, GE said neither power source will be sufficient alone, but when deployed in tandem can provide decarbonization at the pace and scale needed to achieve substantial climate goals.

“A combination of renewables and gas power will be the fastest and most cost-effective pathway to decarbonization for South Africa,” said Elisee Sezan, CEO for GE’s Gas Power business in sub-saharan Africa. “Reliable gas technology solutions and renewable energy sources will make investments economically sound for immediate emissions reductions and we believe that gas will not just be a backup fuel but will be the new baseload capacity for the coal repurposing national program.”

According to the whitepaper, affordable, reliable, and sustainable electricity is South Africa’s most urgent need. About 4–6 GW of power is needed in the near term to ease current electricity constraints and the country aims to add about 20 GW of additional power with renewables and gas in the long term. Research shows South Africa’s energy mix will evolve to include greater amounts of renewables, even as coal remains the dominant fuel beyond 2040.

GE believes in and promotes additional renewables capacity, augmented where needed with gas generation to provide system flexibility and dependable capacity, as the most effective near-term action to decarbonize the energy sector. Given the time it takes to deploy new renewables and to implement energy efficiency improvements, coal-to-gas switching represents a potential quick win for emissions reductions.

“Retiring aging coal-fired capacity and replacing it with new, high efficiency combined cycle gas power technology would almost immediately bring down power sector emissions and total energy-related CO2 emissions,” said Nosizwe Dlengezele, GE Gas Power’s chief commercial officer, sub-saharan Africa. “Case in point, GE’s HA gas turbine portfolio offers record levels of more than 64 percent combined cycle efficiency, fuel flexibility, and the capability to transition from gas to low-carbon fuels such as hydrogen, and this positions the HA gas turbine as an ideal fit for South Africa.”

In South Africa, coal-fired plants account for 84.5 percent of total CO2 emissions and the move to a more diversified fuel mix will see a drastic reduction in the carbon footprint of the country. By 2030, South Africa aims to reduce its annual greenhouse gas (GHG) emissions by 28 percent less than its 2015-set targets in the updated draft of the Nationally Determined Contribution (NDC) (https://bit.ly/3w4wD3h) and become a net zero economy by 2050.

The paper notes that the timing is right for South Africa to implement its Gas-to-Power programme, as reliable power is a prerequisite for economic development and many industries are deeply affected by power sector inefficiencies. Due to its competitiveness and bankability either as a bridge or destination fuel, the paper views LNG (Liquified Natural Gas) as a fuel of choice for decarbonization in countries like South Africa without adequate commercial gas reserves, and the introduction of new LNG supply is a critical first step in developing the Gas Master Plan.

GE also highlights the need for solid collaboration between the private and public sector to help ensure effective implementation of projects end to end, as well as extensive gas policies and developmental goals to ensure the country reaps all the benefits it comes with.

LIVE: Click Here To Watch Gerety Awards Jury Insights From Nigeria

Brand Spur
-
0
LIVE: Click Here To Watch Gerety Awards Jury Insights From Nigeria

Watch the Gerety Awards Jury Insight from Nigerian panel live today at 2 PM Lagos Time Here.

The panel will include:

Gbemi Adekanmbi Founder For Creative Girls

Solape Akinpelu CEO/CMO HerVest

Adebola Williams GM, Marketing, UAC FOODS

Dolapo Otegbayi Specialised Nutrition Director FrieslandCampina WAMCO

Brand Spur Nigeria reports that the 2021 Executive judging sessions are about to begin followed by live jury panel discussions around the world. RSVP for the Nigerian event at www.tinyurl.com/gerety

The jury insight panel from Nigeria is one of a series of unique events held around the world between June 7  and June 17. They will discuss entries from this year’s Gerety Awards, which is the only creative prize to reward the best in advertising from the female vision.

1...1,9361,9371,938...3,976Page 1,937 of 3,976