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AfrElec NEWS IN BRIEF AfrElec

EXPORTS

Nigeria exports $82mn of

electricity in 2019 —
NERC

The Republics of Togo, Niger and Benin
received a total invoice of N32.04bn ($82mn)
for the electricity supplied to them from
Nigeria in 2019, data from the Nigerian
change projects in Ghana. RESULTS Electricity Regulatory Commission have
The bank, in consultation with the shown.
Ministry of Finance, has so far developed Kenya Power expects Nigeria, through some of its power plants,
the Accelerating Solar Action Programme sell electricity to the neighbouring countries,
(ASAP), as the first project to be submitted to reduced profits because of which are classified as international customers
the GCF for funding. in the Nigerian power sector.
The ASAP aims at mobilising Coronavirus Niger’s power firm, Societe Nigerienne
concessionary finance to promote the use of d’electricite, received a total invoice of
solar PV systems in Ghana, with a clear focus Kenya Power has issued a profit warning for N3.01bn for electricity supply from Nigeria
on SMEs and households. its financial earnings closing on June 30, 2020, in the first quarter of 2019; N3.69bn in Q2;
saying its earnings will be much lower than N4.1bn in Q3; and N2.07 in Q4.
those of the previous year. Communaute Electrique du Benin, a
The electricity distributor has attributed the power firm owned by Togo and Benin,
PAYMENTS projection to the COVID-19 pandemic, saying received a total invoice of N9.74bn for the
it has adversely affected business operations power supplied to it in Q1; N7.16bn in Q2;
Electroneum to launch leading to slow growth in electricity sales. and N2.27bn in Q3 but none in Q4.
According to NERC’s quarterly reports,
Additionally, the virus has led to an
electricity top-ups across increase in financing costs, resulting in the international customers did not make any
payments in each of the four quarters of last
reduced earnings.
Africa performance the board of directors has year.
“Based on a review of the company’s
“During the quarter under review, the
The blockchain-based digital payment project, determined that the earnings for the financial special and international class of customers
Electroneum, will be launching an in-app year ending June 30, 2020 are protected to made no payment to the Nigerian Bulk
electricity top-up feature across four African be lower than the earnings for the previous Electricity Trading Plc and the Market
countries — Nigeria, Senegal, Mali and The year,” the firm’s Company Secretary said in a Operator,” NERC said in its fourth-quarter
Gambia. statement. report.
The electricity top-up feature will allow “The COVID-19 pandemic has adversely
ETN app users to top-up their electricity affected our business leading to slow growth
meters directly from the app by paying in in electricity sales and increase in financial
ETN tokens. costs resulting in reduced earnings,” Kenya COVID -19
The ETN mobile application previously Power added.
added support for airtime and data top-ups The state agency’s cautionary statement Ghana cement
across 140 countries worldwide. follows a similar one issued last year.
While Electroneum is trying to expand In September 2019, the state agency manufacturers, steel
its territory with its various projects and warned its investors that its profits for the year
in-app features, many of its users don’t find ended June 2019 would drop, owing to an companies denied COVID-19
the growth as exciting — mostly due to the increase in the cost of purchasing power.
depreciating price of ETN tokens. Following the profit warning, Kenya Power electricity support
However, the company said that its 30 reported a 91.98 percent decline in its net
month long “Phase One” has been successful profits for the period, to Sh262mn down from President Nana Addo Danquah Akufo-Addo
in terms of bringing and retaining new users Sh3.27bn made in 2018. during his 6th address to the nation on the
on the app. There are approximately 1mn However, its revenue rose by 1.34 percent Covid-19 pandemic announced a relieve
active ETN app users. to Sh133.1bn pegged on electricity sales, on electricity to support individuals and
With more than 2.4mn downloads of the increased power costs and higher finance businesses with a full cover on the bill of low-
ETN app, the company seems to be working costs. income consumers and 50% to consumers
on the ground level to reach more people in The company attributed this to the new who fall outside the category.
developing countries. Their collaboration with purchases from the completed Lake Turkana However, cement manufacturing and steel
NGOs in these countries is a potential way of Wind Power project and the 50-megawatt companies located within the Tema Free
ensuring wider use of cryptocurrencies. Garissa solar farm. Zones enclave say they have been denied of
such support from the government which is

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