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World Water Forum: Africa to mobilise $30 billion per year until 2030 for water investment

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The Minister of Water in Senegal, Serigne Mbaye Thiam has said Africa would raise $30 billion per year until 2030 to facilitate the “creation of a high-level international panel on investment in water in Africa.”

The Minister made the remark on Friday at the closing ceremony of the just concluded 9th edition of the World Water Forum in Dakar, Senegal.

It is the first time a country in sub-Saharan Africa is hosting the forum.

“The objective of the panel is to develop concrete ways to mobilise $30 billion per year until 2030 to implement the African Water Investment Programme and to close the existing water investment gap in the African continent.” Serigne Mbaye Thiam, said at the closing ceremony.

“On behalf of the Head of State, President Macky Sall, Chairperson of the African Union, I hereby announce the official establishment of an international high-level panel on water investments in Africa,” he added.

Slamreportafrica reported the commencement of the 9th edition of the World Water Forum in Dakar, Senegal, the first time the world’s biggest water-related event will be hosted in sub-Saharan Africa.

The event which kicked off on March 22 holds every three years to bring together key political actors, business leaders, NGOs, donors, and international organizations to promote dialogue and facilitate access to water and sanitation.

The World Health Organization says every day; 2.1 billion people still wake up each morning without access to clean water. This means that millions of vulnerable families around the world do not drink, cook, or bathe with clean water.

Speaking on the importance of finance and water investment, former President of Tanzania, Jakaya Kikwete, said “we have heard numerous times mention of 114 billion dollars in the global market capital investment, excluding maintenance, which will be needed annually to close the gap for the population using safely and managing drinking water and sanitation services.”

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World Bank predicts Mozambique economy growing at 5.7% on average

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The World Bank has predicted that the economic growth in Mozambique is expected to accelerate in the medium term averaging 5.7% between 2022 and 2024, as a result of demand recovery and economy benefits from the start of liquefied natural gas production this year.

In a report released Thursday, the World Bank said the start of LNG production at the offshore Coral Project and the expected resumption of other LNG projects would help spur the southeast African nation’s growth in the intervening year.

The World Bank said a three-year extended credit facility arrangement agreed by Mozambique with the International Monetary Fund (IMF) and budget support from other partners would further help to strengthen its economic recovery.

The IMF’s executive board had, in May, approved a $456 million program for the country, the first since the global lender suspended support to Mozambique six years ago.

However, the World Bank warned that risks remained for Mozambique’s growth, especially from rising import prices due to the conflict in Ukraine, a possible surge in COVID infection waves, and insurgency in the north.

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Nigeria, Algeria, Niger to revive Saharan gas pipeline talks

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The governments of Nigeria, Algeria and Niger Republic have held talks to revive a gas pipeline project across the Sahara which had been put on hold for over 40 years, with the potential opportunity for Europe to diversify its gas sources as the world faces a short fall as a result of the Russian-Ukraine war.

The three countries, represented by their various Petroleum Ministers, met in Abuja, Nigeria’s capital on Wednesday and resolved to set up a task force to revive the project and designated an entity to update the feasibility study.

A statement by Niger’s Oil Ministry after the two-day meeting stated that the Trans-Saharan gas pipeline project estimated at $13 billion, could send up to 30 billion cubic metres a year of supplies to Europe.

The statement added that the energy ministers of the three countries will meet again in Algiers at the end of July to “validate the proposals of the newly installed task force.”

“The pipeline should allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high value energy source,” the statement said.

“With a length of 4,128 kilometres (2,565 miles), the pipeline would start in Warri, Nigeria, and end in Hassi R’Mel, Algeria, where it would connect to existing pipelines that run to Europe,” it said.

The gas pipeline idea was first proposed more than 40 years ago with an agreement signed between the three countries in 2009, but progress stalled stalled following a lack of follow through by the countries.

Earlier this month, Nigeria also took steps to revive another gas pipeline project that would pass through West Africa, Morocco to Europe.

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