Africa - 06 May 2024
06 May 2024
AFRICA
- The African Financial Markets Handbook is a reference publication, providing background information on more than 20 African countries and markets. Statistics such as geographic size, population size, indicators of health and welfare, infrastructure amongst others are covered in this report. There are also snapshots of equity, foreign exchange and interest rate markets, providing general market conventions in each market, tax treatment of interest income, estimates of typical daily turnover and typical trade sizes, auction frequency in Treasury Bill and bond markets, amongst others. This is an annual publication. (Source)
- Namibia is making its move to become sub-Saharan Africa’s leader in the race to produce green hydrogen. This week Belgium’s King Philippe and Namibian President Nangolo Mbumba refueled a hydrogen-powered truck at a venture involving the European country’s Compagnie Maritime Belge close to Walvis Bay on the arid west coast. Commercial production of hydrogen will start this year and there are plans to spend $3.5 billion on a bigger project to use the sun’s rays to split water and convert the resultant gas into more-easily transportable ammonia. (Source)
- Sub-Saharan Africa outlook. From electric vehicles to solar panels to future innovations, the global transition to clean energy is set to further heighten demand for critical minerals. Between 2022 and 2050, demand for nickel will double, cobalt triple and lithium rise tenfold, according to the International Energy Agency. With sub-Saharan Africa estimated to hold about 30 percent of the volume of proven critical mineral reserves, this transition—if managed properly—has the potential to transform the region. (Source)
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