Category: Africa

Source: APO

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Verdant IMAP (https://Verdant-Cap.com/) is proud to announce that it has been recognised for excellence at the Africa Global Funds (AGF) Africa Service Providers Awards 2025, winning in the category of Advisory Services: Private Equity. This award celebrates Verdant IMAP’s leadership and impact in providing world-class M&A and investment banking advisory services to private equity clients across Africa. It highlights the firm’s deep expertise in structuring and executing complex transactions, as well as its commitment to connecting global investors with high-impact opportunities that drive sustainable growth on the continent.

Now in its tenth year, the AGF Africa Service Providers Awards are among the most respected accolades in Africa’s investment industry. The awards honour firms that demonstrate innovation, strong execution, and meaningful contributions to the development of Africa’s financial markets.

Verdant IMAP’s transactions in recent months include advising Ctrack, owned by specialist private equity investor Convergence Partners on its USD 23 million capital raise, and advising Miro Forestry on its capital raise involving Lagatta and existing shareholders. 

“We are honoured to receive this recognition from Africa Global Funds, this award affirms Verdant’s position as one of Africa’s leading independent investment banking firms and reflects the dedication, professionalism, and expertise of our team. We are grateful for the opportunity to help our clients and partners achieve lasting success across the continent,” said Edmund Higenbottam, Managing Director of Verdant Capital.

Verdant IMAP’s success in advisory has been driven by its ability to deliver integrated transaction support from origination and structuring to capital raising and closing across a range of sectors; including financial services, technology, telecoms, industrials, agro-industrial and climate. The firm’s deep local market knowledge, combined with its strong network of global investors and development finance institutions, continues to position it as a trusted advisor for private capital transactions in Africa.

This recognition also reaffirms Verdant IMAP’s strength as the IMAP member firm for the region. IMAP is a global M&A partnership with over 450 professionals across 51 countries and is consistently ranked among the top 10 advisors worldwide for mid-market transactions.

Distributed by APO Group on behalf of Verdant Capital.

Media Enquiries:
Orient Mahonisi
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading pan-African investment bank specialising in mergers and acquisitions (M&A) and private capital markets. Combining international investment banking experience with a deep understanding of local markets, Verdant IMAP helps clients access global capital and strategic partnerships to drive growth and transformation across the continent. Verdant IMAP is the IMAP partner firm for its region. IMAP is a global M&A partnership with over 450 professionals across 51 countries and is consistently ranked among the top 5 advisors worldwide for mid-market transactions. https://Verdant-Cap.com/

Source: APO

As the need to make energy poverty history becomes increasingly more urgent, the African Energy Chamber (AEC) (https://EnergyChamber.org/) has announced the launch of the G20 Africa Energy Investment Forum on November 21, 2025. Taking place at the Southern Sun Sandton in Johannesburg, South Africa, the forum will explore potential avenues for foreign investment in African energy, delving into strategic topics from oil production to natural gas development to clean cooking, nuclear and affordable energy.   

Africa’s energy sector is currently at an important cross-road. Faced with both an energy and climate crisis, the continent requires significant investment to bolster energy access while driving a just and inclusive energy transition. Many nations across the continent have highlighted the value of an integrated approach to achieving these goals, one in which oil and gas play a foundational role. For Africa, oil and gas production will continue to form the cornerstones of the continent’s development and will remain stable at 11.4 million barrels per day (bpd) in 2026. By 2030, production will rise to 13.6 million bpd, underscoring the role oil plays in Africa. With African energy demand projected to rise fourfold by 2040, the upcoming G20 Africa Energy Investment Forum provides a platform for African oil nations to secure investment while addressing key challenges such as access to finance.

In Africa’s quest for low-carbon energy solutions, natural gas has emerged as a driver of both energy access and industrialization. Current estimates show that Africa has over 620 trillion cubic feet (tcf) of proven gas reserves, with ongoing exploration campaigns expected to uncovers trillions more. Many nations across the continent have positioned gas as an economic driver, recognizing its role as both a power generation source and clean cooking solution. With 250 GW of additional power capacity needed between now and 2030 to meet anticipated demand growth, gas has emerged as one of the fastest pathways to achieving this goal. Countries such as Angola, Libya, Algeria, the Republic of Congo and Nigeria have committed to raising gas production, while emerging producers such as Zimbabwe, South Africa and Namibia are seeking partners to advance development. Just this month, South Africa announces plans to lift its long-standing moratorium on shale gas exploration, representing a key step towards unlocking the over 200 tcf of estimated gas in the Karoo Basin.

Beyond power generation, natural gas has emerged as a critical fuel for clean cooking. With over 900 million people living without access to clean cooking solutions in Africa, there lies a critical opportunity to expand reliable, affordable LPG solutions across the continent, leveraging robust infrastructure and strong global collaboration. The International Energy Agency shows that Africa will require $37 billion cumulative investment to 2040 to achieve universal access to clean cooking, highlighting an opportunity for LPG-directed investments across the continent. The G20 Africa Energy Investment Forum will delve into the impact of clean cooking solutions such as LPG in Africa. These discussions will build on recent developments, including the U.S. Department of Energy’s commitment to strengthening partnerships with African nations across the clean cooking industry, championed by U.S. Secretary of Energy Chris Wright. The commitment was made at Clean Energy Ministerial, hosted in Busan in 2025, creating new pathways for U.S.-Africa collaboration.

The G20 Africa Energy Investment Forum will also explore actionable pathways to advancing alternative energy solutions such as hydropower, geothermal and nuclear. Currently, South Africa holds the only operational nuclear power facility in Africa, but developments in other nations show the promise of future investments. Egypt, Nigeria, Ghana and Kenya are pursuing their own nuclear projects, while South Africa has introduced plans to deploy an additional 5.2 GW of nuclear capacity in the coming years. By 2030, the International Atomic Energy Agency projects a 58% increase in nuclear energy use in Africa, underscoring the scale of potential investments.

“As we engage the G20, our message is simple: Africa needs common-sense energy policies – not ideology. We need financing that supports Africans building power plants, pipelines and refineries, not roadblocks that keep our people in the dark. The G20 must champion a pragmatic approach that balances growth with sustainability and puts African priorities at the forefront,” states NJ Ayuk, Executive Chairman, AEC.

The upcoming forum takes place on the heels of the African Energy Week: Invest in African Energies 2025 conference. During the event, G20 nations participated in the Global Energy Leaders Forum, exploring actionable pathways for global collaboration and investment in Africa’s energy sector. As the continent prepares for the 2026 edition of the event, the G20 Africa Energy Investment Forum will serve as a launchpad for future deals and partnerships.

Register for the forum at https://apo-opa.co/4nvCE2S

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Africa’s upstream oil and gas sector is entering a period of cautious resurgence, driven by a combination of renewed investment in mature producing nations and the emergence of new exploration hotspots, according to the African Energy Chamber’s (AEC) (https://EnergyChamber.org/) State of African Energy 2026 Outlook (https://apo-opa.co/4ns4xcd). The report, which was launched earlier this month at African Energy Week 2025 in Cape Town, underscores both the opportunities and challenges shaping the continent’s energy future.

Established producers, including Algeria, Nigeria, Libya, Egypt and Angola, continue to dominate Africa’s output, yet face mounting pressures from aging infrastructure and maturing fields. In contrast, emerging investment destinations such as Ivory Coast and Namibia are attracting attention thanks to recent discoveries and the potential for high upside, particularly in frontier basins offering favorable fiscal terms. Advancements in seismic acquisition, processing technologies and deepwater drilling capabilities have bolstered exploration efforts, allowing operators to target increasingly complex reservoirs.

In North Africa, exploration beneath Upper Miocene evaporites in the Mediterranean basin has unlocked over 50 TCF of gas, while fields such as Zohr in Egyptian waters highlight the challenges of variable reef structures. Along the Atlantic margin, discoveries like Angola’s Agogo field in the Congo Fan illustrate the potential of pre-salt reservoirs, with similar prospects anticipated along the Gabon Coastal Basin and Kwanza Basin in Angola. Onshore frontier areas such as Namibia’s Owambo Basin and Zimbabwe’s Rufunsa Basin have yet to deliver significant discoveries, reinforcing the trend that meaningful finds are increasingly tied to infrastructure-led exploration in more mature areas.

“The African upstream sector is evolving rapidly,” says NJ Ayuk, Executive Chairman of the AEC. “Frontier and emerging basins present enormous potential, but realizing that potential requires targeted investment, innovative fiscal frameworks and partnerships that can de-risk technically complex projects. African Energy Week 2026 will be a key forum for shaping how the continent can sustainably unlock these resources.”

Africa’s overall hydrocarbon production is expected to remain stable at approximately 11.4 million barrels of oil equivalent per day (MMboe/d) in 2026, with new projects projected to raise output to roughly 13.6 MMboe/d by 2030. North Africa is anticipated to contribute around 60% of this volume, with sub-Saharan Africa supplying the remainder. While offshore deepwater developments are gaining ground, onshore production continues to play a critical role, particularly in Algeria and Libya. Liquids will account for an estimated 63% of 2026 output, while natural gas represents 37%, with gas growth driven by rising global demand and new LNG infrastructure in countries including Mozambique, Nigeria and Senegal.

Certain fields, however, face potential risks of asset stranding due to technical and geological challenges. In Egypt, the Hoda, Notus and Satis discoveries collectively hold over 520 million barrels of recoverable reserves, while Sierra Leone’s Jupiter and Angola’s Catchimanha discoveries represent significant Atlantic margin assets. Across Southern Africa, fields such as Brulpadda, Luiperd and Venus face commercial constraints due to restrictive fiscal terms and industrialization challenges, highlighting the critical role of regulatory and contractual frameworks in unlocking Africa’s resource potential.

A growing feature of the African energy landscape is the increasing role of National Oil Companies (NOCs), which now account for roughly 53% of total production. By contrast, International Oil Companies contribute about 30%, reflecting a shift toward resource nationalism and greater operational involvement by host governments. Countries such as Nigeria are actively expanding NOC capabilities to operate major assets independently or through joint ventures, emphasizing the need to build local expertise alongside attracting foreign investment.

Meanwhile, the African rig market is experiencing nuanced shifts. The floater sector is in gradual decline, while the jackup segment is expected to remain relatively flat over the next three years. Drillship demand may improve from early 2027, but contractors face a more competitive environment, with reduced day rates and excess capacity pressuring margins. In West Africa, high-spec ultra-deepwater fixtures could see rates fall to the low $400,000s, offering opportunities for operators to advance drilling campaigns at more attractive costs.

Looking ahead, the next edition of African Energy Week, scheduled for October 12-16, 2026 in Cape Town, will provide a premier platform for discussing these trends in depth, bringing together investors, operators and policymakers. The forum will explore exploration breakthroughs, development challenges and the crucial balance between investment attractiveness and technical complexity. As Africa advances through the next phase of its energy transition, the AEC Outlook highlights the importance of strategic partnerships, innovative fiscal frameworks and capacity-building initiatives to fully unlock the continent’s upstream potential.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

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Uganda is for the first time, participating in the Annual Swiss International Holiday Expo (SIHE) in Lugano, Switzerland. The 2025 exhibition which runs from Friday, 31st October to Sunday, 2nd November at the Centro Esposizioni Centre in Lugano, Switzerland is arguably Switzerland’s premier tourism fair, focusing on Luxury Tourism, MICE (Meetings, Incentives, Conferences, Exhibitions/Events), and leisure, attracting on average over 400 international buyers, 400 exhibitors from 80 countries, and more than 7,000 high-spending private visitors.

Sponsored by Uganda’s Permanent Mission of Uganda to the United Nations in Geneva, which is also accredited to the Swiss Confederation in Bern, Uganda’s participation in the exhibition is multi-stakeholder, showcasing the nation’s offerings through exhibition, targeted B2B/B2C meetings, and networking. By showcasing Uganda’s unique attractions such as gorilla trekking, diverse wildlife, cultural heritage, and adventure tourism, Uganda can position itself as an exciting holiday destination for the Swiss.

Participants include officials Ministry of Foreign Affairs; the Ministry of Tourism, Wildlife and Antiquities; Ministry of Agriculture, Animal Industry and Fisheries; the Ministry of Finance, Planning and Economic Development; Uganda Tourism Board; Uganda Investment Authority; Association of Uganda Tour Operators; Ugandan Diaspora in Switzerland.

The 2024 edition drew over 11,000 visitors, who were primarily Swiss vacation-seeking families. This year, the fair will launch a dedicated Luxury Tourism Zone that is tailored to exclusive clientele further amplifying opportunities to reach high-end consumers and luxury-focused tour operators.

Uganda’s Permanent Representative to the UN in Geneva, Amb. Mercel Tibaleka describes Uganda’s participation as one that presents an opportunity to make direct contact with Swiss and European travel enthusiasts and media, elevate Uganda’s “Pearl of Africa” brand, and establish valuable partnerships across priority segments such as luxury safaris, cultural travel, and MICE.

Uganda’s Deputy Permanent Representative to the UN in Geneva, Amb. Arthur Kafeero said that following Uganda’s successful participation in the World of Coffee Expo held in Geneva in June 2025, the Lugano exhibition would further advance the promotion of Ugandan coffee to the Swiss market. “Coffee promotion will not only market Uganda’s tourism but also its agro-export sector”.

“The exhibition offers a highly professional, result-oriented format that delivers maximum value through targeted B2B meetings, thematic networking opportunities, and high-spending consumer exposure,” said Amb. Richard Kabonero, Head of Regional Economic and Regional Cooperation, 

Kara Komuhangi from the Uganda Investment Authority expressed optimism about the outcome of Uganda’s Participation. “This will also provide a platform to market Uganda as an investment destination for broader investment opportunities beyond tourism,” she said

Among the benefits that Uganda hopes to gain in Lugano are positioning Uganda as a Premier Travel Destination to the Swiss market, boosting tourism revenue, attracting investment opportunities, market research and competitive insights, business and networking opportunities, promoting cross-sector linkages, and achieving Tourism Excellence Recognition. 

The Government of Uganda provides funding for Uganda’s participation in these and other fairs under the Economic and Commercial Diplomacy Strategy of the Ministry of Foreign Affairs.

Distributed by APO Group on behalf of The Republic of Uganda – Ministry of Foreign Affairs.

Source: APO

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The United Nations Economic Commission for Africa (ECA) participated in the third Luanda Financing Summit for Africa’s Infrastructure Development, held from October 28-31, 2025. The high-level event convened African leaders, global investors, and development partners to address the continent’s infrastructure funding gap and accelerate economic integration.

Organised under the patronage of the African Union Chair, Angolan President João Manuel Gonçalves Lourenço, the summit tackled the theme “Capital, Corridors, Trade: Investing in infrastructure for the AFCFTA and shared prosperity.”

ECA co-organised a session on the digitalization of transport corridors and participated in a side-event on energy interconnection.

At the energy event, jointly organized by the African Union Development Agency (AUDA-NEPAD) and the Global Energy Interconnection Development and Cooperation Organization (GEIDCO), Mr. Robert Lisinge, Director of the Technology, Innovation, Connectivity and Infrastructure Development Division (TICID), highlighted the critical link between frontier technologies and energy security.

“Frontier technologies such as Artificial Intelligence require huge amounts of electricity that African countries may struggle to produce individually, hence the relevance of regional projects,” Lisinge stated.

He also connected the continent’s energy needs directly to the success of the African Continental Free Trade Area (AfCFTA), noting, “AfCFTA is expected to increase electricity demand by 8% by 2035 and 14% by 2040.”

The summit, organized by the African Union Commission (AUC) and AUDA-NEPAD in collaboration with the Angolan government, aimed to transform Africa’s infrastructure ambitions into bankable, investment-ready projects. The outcomes of the Luanda Summit are anticipated to significantly advance the goals of both the AfCFTA and the Programme for Infrastructure Development in Africa (PIDA), fostering a more prosperous and interconnected continent.

Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

Source: APO

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Experts in new energy vehicles, along with industry leaders, academics, and specialists, are gathering in Gqeberha to share valuable insights on industry innovations and initiatives – particularly those focused on decarbonising the transport sector. The Department of Science, Technology and Innovation (DSTI) has partnered with the uYilo e-Mobility Programme at Nelson Mandela University (NMU) to host the annual uYilo Annual e-Mobility Summit, which runs from 28 to 30 October 2025.

The Department’s Mbangiseni Mabudafhasi, Deputy Director: Power, said that the summit recognises the urgency of global commitments to reduce carbon dioxide emissions in the transport sector, which have catalysed growing market demand for electric vehicles (EVs). He added that, while internal combustion engine (ICE) vehicles remain dominant, particularly in developing markets, their market share is expected to decline significantly in high-income countries after 2035.

South Africa’s automotive industry plays a crucial economic role, contributing approximately 5,2% to the national GDP. Studies show that the sector supports around 115 000 high-skilled manufacturing jobs and roughly 500 000 formal jobs across the automotive supply chain.

Mr Mabudafhasi stressed that discussions about the future of ICEs are essential as the industry stands at a critical juncture. “By 2035, it is projected that 63% of key export markets, including the EU and the UK will implement bans on the sale of new ICE vehicles,” he said.

To navigate this transition, South Africa is encouraged to adopt a pragmatic dual-track strategy, which aims to maximise the operational life and minimise the carbon emissions of ICE vehicles while simultaneously fostering the growth of the most promising EV and hybrid platforms. It acknowledges that although ICE vehicles remain dominant, especially in developing markets, their market share is expected to decline sharply in high-income countries beyond 2035.

Mr Gareth Burley, CEO of Microcare Solar Energy, said that Africa’s e-mobility transition must be designed around local realities rather than imported wholesale from abroad. “African innovations must solve African problems,” he said, emphasising that the continent’s success hinges on developing systems tailored to its economic, infrastructural and social contexts. E-mobility in Africa, he contended, cannot simply replicate European or Asian models but must address challenges such as energy access, affordability and the informal nature of much of the transport economy.

“If we only import our chargers and software, we will continue to outsource jobs, intellectual property and after-sales services,” Mr Burley warned. “Localising support technologies, such as chargers, power electronics and related components, is the fastest on-ramp for small, medium and micro enterprises in our country.”

Microcare Solar Energy has developed the DC-DC Solar EV Charger, a flexible, solar-integrated solution that delivers consistent charging directly from photovoltaic panels, eliminating the need for AC conversion or grid dependency. This makes it ideal for remote locations.

Burley noted that sustainable progress requires close coordination between governments, academia and the private sector. “Research must inform regulation, regulation must enable innovation, and innovation must be rooted in community benefit,” he said. The desired outcome, he maintained, is a self-reinforcing ecosystem of skills, investment and local manufacturing capacity rather than continued dependence on imported solutions.

Mr Zakariae Ouachakradi, Business Development Manager of Morocco’s Green Energy Park echoed this sentiment as he described Morocco’s approach to building an EV charging network. He highlighted the delicate balance between technical precision and the institutional coordination required to sustain such an initiative. Morocco’s strategy, he explained, relies on the government’s proactive role in setting standards, funding research and aligning industrial policy with environmental goals.

The Green Energy Park – a partnership between the Institute for Research in Solar Energy and Renewable Energies and the OCP Group – employs engineers and researchers who design and test charging stations adapted to African climates and grid conditions. This localised research and development model ensures that technologies are not only viable but are also resilient under regional constraints. However, Mr Ouachakradi also pointed to persistent challenges, particularly the lack of harmonised standards across the continent. Without shared frameworks for charging protocols, battery systems and safety compliance, he cautioned, African countries risk building fragmented systems that hinder regional integration.

Africa’s e-mobility future depends on alignment and cooperation, not on nations working in silos. The continent’s diversity in energy systems, industrial capacity and regulatory readiness must become a source of collective strength. Two of the most pressing and decisive factors identified were the transfer of technical expertise and the development of skilled human capital. Without a workforce capable of building, maintaining and innovating within these systems, even the most advanced technologies will remain underutilised.

Both speakers signalled a shift away from viewing Africa as a passive recipient of technology and toward recognising it as a generator of homegrown solutions. A growing number of African research institutions and startups are already contributing to global clean-mobility knowledge. The consensus was clear – this momentum must be channelled through supportive policies, regional collaboration and sustained investment in applied science.

Africa’s e-mobility transition is an active continental agenda and realising it will demand coordination, foresight and unwavering commitment. The road ahead leads toward a cleaner, more connected, self-reliant and innovative Africa that is powered by its own ingenuity.

Distributed by APO Group on behalf of Department of Science, Technology and Innovation, Republic of South Africa.

Source: APO

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Parliament has directed that a family whose four-month-old child snatched by baboons and later found dead in a forest is compensated. 

The Deputy Speaker, Thomas Tayebwa, gave the directive to the Minister of Tourism, Wildlife and Antiquities during plenary on Thursday, 30 October 2025.

He observed that children in Kagadi District no longer go to school and parents are not working, in a bid to protect their children from wild animals.

“People say they have been reporting these incidents to the authorities, but no action has been taken. This is a big problem in Kagadi and other areas where there is human-wildlife conflict,” Tayebwa said.

Parliament urged the Ministry of Tourism, Wildlife and Antiquities to find lasting interventions to protect communities living in the district and other parts of the country from attacks by wild animals and present a comprehensive statement to Parliament showing the action taken on the matter.

Ntoroko County MP, Hon. Ibanda Rwemulikya, noted that communities living at the borders of game parks and forest reserves face similar challenges, citing human-wildlife conflict near Semuliki National Park.

“In Kanara Town Council, we have a number of cases where children were snatched and injured by baboons. Parents are footing expensive medical bills, and there is no compensation for them,” Rwemulikya said.

He called for a nationwide investigation into such incidents in areas where local communities live close to wildlife, and reiterated the need for adequate action by the Ministry of Tourism, Wildlife and Antiquities.

Hon. Richard Wanda (NRM, Bungokho Central County) cited incidents of harassment by staff of Uganda Wildlife Authority on communities in the Elgon region.

“They harass locals over boundaries, and sometimes lives have been lost because these staff shoot people and destroy property including buildings and crops. The minister should develop an action plan to address the challenges of wildlife management,” Wanda said.

Distributed by APO Group on behalf of Parliament of the Republic of Uganda.

Source: APO

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Parliament has approved a new loan worth US$ 121,961,000 from the African Development Fund to finance Uganda’s electricity export project to South Sudan, despite sharp divisions among Members.

While some legislators welcomed the project as a strategic regional investment that could generate foreign income, others warned that it would worsen Uganda’s debt burden and disadvantage local consumers still paying some of the highest electricity tariffs in East Africa.

Presenting the minority report, Hon. Charles Tebandeke (NUP, Bbale County) expressed concern over missing key documents, including the Memorandum of Understanding (MoU), Power Purchase Agreement (PPA), and contracts between Uganda and its neighbours.

“We acknowledge that the regional power trade is increasing rapidly after exports to Rwanda, Kenya, Tanzania, and DRC. However, Ugandans have not known the MoUs behind these exports, it is a secret to government,” he said during the plenary sitting on Thursday, 30 October 2025.

The sitting was chaired by the Deputy Speaker, Thomas Tayebwa

Tebandeke noted that while Uganda’s national grid coverage stands at 25.3 percent, only 15 percent of Ugandans have access to reliable electricity. “Where we export, importers enjoy a unit price cheaper compared to Ugandans. This has disadvantaged Ugandans, with places like Kalangala paying over Shs1,500 per unit. Why is electricity still costly in Uganda?” he asked.

The Rushenyi County MP, Hon. Naome Kabasharira, decried persistent power outages and tasked government to explain the paradox of surplus generation and limited distribution.

“We have a lot of power generation in this country. What is making it hard to distribute? Now our people will see this loan to supply power to South Sudan, yet load shedding is too much, can we fix it?” she said.

Erute County MP, Hon. Jonathan Odur, faulted the energy ministry for under performing projects.

“The Electricity Scale-Up Access Project is at 20 percent. There is a transmission line in Masaka whose execution has not commenced, as a result out of 10.8 million households, only two million are connected. Government should not allow citizens who are going to shoulder the burden of this loan to continue crying for power,” Odur said.

However, several MPs supported the loan, saying regional energy trade would strengthen Uganda’s economic position.

“This will be a good business for South Sudan because Ugandans do business there. Ugandans will also be beneficiaries, and in turn it will bring in income,” said Hon. Siraji Ezama (NRM, Aringa County).

Western Youth Representative, Hon. Edson Rugumayo argued that the export plan would help Uganda utilise its excess generation capacity.

“With this project, we project ourselves as powerful in the region. The majority committee report explains that in 2020 Uganda generated 2,000 megawatts but consumed only 900, leaving a surplus of 1,000. This loan is in the best interest of Ugandans, that we supply power to South Sudan and offset our debt burden,” he said.

Defending the project, the Minister of State for Energy and Mineral Development (Energy), Hon. Sidronius Okaasai, said regional power trade is vital for economic growth and energy security.

“If we fall short of electricity, we should be able to import it. We must trade in the EAC to avoid shortages. We have 2,056 megawatts and are using 900, meaning we have some electricity to sell,” he said.

A report by the Committee on National Economy presented by its chair, Hon. John Bosco Ikojo, revealed that the 299 kilometre power interconnector will start at the Gumbo substation site in the outskirts of Juba in South Sudan, crossing into Uganda territory at Nimule to the metering substation at Bibia, and proceed to terminate at Olwiyo substation which is supplied from the Karuma Hydroelectric Power Station.

He argued that the project will address power surplus and energy in Uganda and power deficits in South Sudan and projected that Uganda will trade 624 GWh of its surplus energy with South Sudan in the first year of operation with a big reduction in greenhouse gas emissions.

Parliament also passed two other loans; one worth €342.5 million from Standard Chartered Bank for construction of 400KV Karuma-Tororo double circuit transmission line and substation, and 132/33KV Ntinda Substation project.

House also approved a loan request for €230.4 million from Citi Bank to finance design and construction of 127 kilometres of Jinja-Mbulamuti-Bukungu Road and 10 kilometres of Jinja City roads.

Distributed by APO Group on behalf of Parliament of the Republic of Uganda.