Page 7 - DMEA Week 47 2022

DMEA SECURITY & POLICY DMEA

This would facilitate the electrification of remote zero-carbon city. It is scheduled for completion
and rural African communities and play a vital in 2024 and is being built near Abu Dhabi. ™
role in the continent’s socio-economic develop-
ment, the report says.
Speaking about the report, Mohamed Jameel
Al Ramahi, Masdar’s CEO, commented: “This
study provides a blueprint for African nations
to deliver sustainable, low-carbon growth while
extending energy access across the continent.
Green hydrogen has the potential to reduce
emissions, unlock economic opportunities, and
create new and valuable jobs for countries across
the Middle East and North Africa region.”
Masdar is an Abu Dhabi-based company
owned by the UAE government and is one of
the world’s leading clean energy corporations,
actively involved in a number of projects related
to green hydrogen production in developing
countries.
Additionally, Masdar is currently oversee-
ing the planning and construction of Masdar
City, which is supposed to be the world’s first The report was issued during COP27 (Image: Masdar)

Ghana announces “gold for imported oil”

policy amid dwindling forex reserves

AFRICA GHANA is negotiating a new government Mahamudu Bawumia announced in a Facebook
policy that would allow for the payment of post on November 24.
imported petroleum products with gold rather He explained that the demand for foreign
than US dollars. exchange by fuel importers in the face of dwin-
The move is expected to boost the country’s dling reserves has contributed to the deprecia-
forex supply and reduce prices for petroleum tion of the national currency, the cedi, and the
products in the country, Vice President Dr. cost of living crisis.

Bawumia has posted a video explaining the policy on various social media sites (Screenshot from YouTube)

Week 47 24•November•2022 www. NEWSBASE .com P7