Ethiopian Energy^Power Business Portal,eepBp

Background

The African Development Bank is the Executing Agency for the Programme for Infrastructure Development in Africa (PIDA); the programme designed as successor to the NEPAD Medium to Long Term Strategic Framework (MLTSF), to develop a vision and strategic framework for the development of regional and continental infrastructure (Energy, Transport, Information and Communication Technologies (ICT) and Trans-boundary Water Resources). The PIDA initiative is being led by the African Union Commission (AUC), NEPAD Secretariat and the Bank. The Bank’s role as Executing Agency covers the responsibility for contractual, financial, technical and administrative management of the programme including responsibility for procurement procedures, in conformity with its existing regulations, budget management and disbursements.  

PIDA Objectives

The overall goal of PIDA is to promote socio-economic development and poverty reduction in Africa through improved access to integrated regional and continental infrastructure networks and services. The PIDA Sector Studies will assist in developing a vision on Africa’s infrastructure based on strategic objectives and sector polices; prioritized regional and continental infrastructure investment programs (Energy, Transport, Information and Communication Technologies (ICT) and Trans-boundary Water Resources) over the short, medium, and long term, up to the year 2030. In addition, the Studies will recommend the required institutional arrangements, legal frameworks, and the financing mechanisms for the implementation and monitoring of the programs.

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Lou Kraft is the CEO of SolSuntech Inc. – a solar panel manufacturing company that recently introduced 3D solar panels producing an ultra-high 33% efficiency. Currently, no other solar panel on the market is capable of achieving such levels of performance. Mr. Kraft’s next step is to make this innovative technology available to African and global markets.

With multiple factors, two of the more widespread being the continual declining cost of solar manufacturing and various legislations aimed at reducing carbon footprint,  the renewable energy market continues to thrive on a global scale. SolSuntech’s primary target markets are the fast growing cities and those overpopulated within Africa, Asia, the United States and Europe, and other developed and emerging markets where installation space is constrained.

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The Board of Directors of the African Development Bank Group has approved an equity investment of up to US$ 25 million in ARCH Africa Renewable Power Fund (ARPF), a US$ 250 million private equity fund for renewable energy projects across Sub-Saharan Africa.

ARPF will provide equity for the development and construction of 10 to 15 greenfield renewable energy projects in Sub-Saharan Africa, adding approximately 533MW of installed energy generation capacity from renewable sources in the region. This will provide both base load and peak load power in underserved markets.

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Macroeconomic performance

Real GDP growth slowed in 2017/18, due partly to civil unrest, political uncertainty, and policy adjustments that involved fiscal consolidation to stabilize the public debt. On the supply side, GDP growth was driven by services (8.8% growth) and industry (12.2%), facilitated by the development of energy, industrial parks, and transport infrastructure. On the demand side, private consumption and investment continued to drive growth, along with the government’s stable spending on public infrastructure and strong foreign direct investment inflows.

With a public debt–to-GDP ratio of 61.8% at the end of June 2018, Ethiopia remains at high risk of debt distress, according to a 2018 debt sustainability analysis. A tax transformation program is under way to strengthen tax policy and administrative efficiency.

A reduced trade deficit and strong growth in remittances helped improve the current account deficit from 8.1% of GDP in 2016/17 to 6.0% in 2017/18. Gross official reserves remained low, at 2.5 months of imports in 2016/17 and 2.1 months in 2017/18.

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