Page 11 - AfrElec Week 25 2021

AfrElec NEWS IN BRIEF AfrElec

HYDRO the two countries extend for many years droughts. With Egypt’s rapidly growing
through implementing a number of population nearing 100mn, the GERD
Egypt confirms South developmental projects that directly beneft the will help improve water supply and take
pressure off the Nile River, which supplies
citizens in South Sudan.
Sudan’s support in GERD an overwhelming majority of the country’s
freshwater.
dispute HYDRO

Egypt’s Irrigation Minister Mohamed
Abdel Aati discussed the Grand Ethiopian US encourages cooperation SOL AR
Renaissance Dam (GERD) dispute this week
with South Sudan’s Foreign minister Beatrice in construction of GERD FSD Africa Investments
Khamisa Wani during his visit to Juba, Egypt
Today reported. The U . Congressional Black Caucus (CBC) invests $4.5mn in African
They discussed the GERD dispute and encourages the continued cooperation and
the flexibility Egypt has shown during peaceful negotiations of all stakeholders in the solar
the negotiations, which was faced by the construction of the GERD.
Ethiopian intransigence. In a statement issued yesterday, CBC said FSD Africa Investments (FSDAi), the
Egypt and Sudan are already in an these negotiations should be based on mutual investing arm of FSD Africa, recently invested
escalating dispute with Ethiopia, which has benefit, good faith, and the principles of $4.5mn in Nithio FI, a renewable energy
reiterated plans to implement the second international law. financing intermediary focused on the Pay as
filling of its massive GERD in July. The multi-billion-dollar GERD project was You Go (PAYG) off-grid solar sector.
Ethiopia’s plans brush aside Egypt and announced in 2011 and will have a positive The funding will help provide reliable and
Sudan’s objections and concerns about their impact in the region by providing Africa’s sustainable renewable energy solutions for
water rights in the event of implementing the biggest hydropower dam that will generate households and small businesses in Kenya,
second filling before a binding agreement is approximately 6,000 megawatts of electricity, Nigeria, and Uganda.
reached among the three countries. thus allowing Ethiopia to export power to Nithio Holdings is an AI-enabled energy
The agreement should regulate the filling neighboring countries. financing platform whose mission is to
and operation processes of the dam in a way The Congressional Black Caucus urges standardise credit risk assessments and
that ensures the two countries’ water rights the United States and all other international therefore drive more capital to the sector,
and prevents Ethiopia from unilaterally actors to respect the 2015 Declaration of including by investing directly and efficiently
controlling the water flow to the downstream Principles trilateral agreement signed between in off-grid solar companies.
countries. Egypt, Sudan, and Ethiopia, and to continue Over the next five years, Nithio FI aims
Abdel Aati expressed appreciation of the to play an impartial role, only seeking the to provide financing to more than 224,000
strong relations gathering the peoples of Egypt counsel of the African Union and diplomats energy access products across the continent,
and South Sudan and the continuation of the on the ground in the region. In particular, including solar home systems (SHS) and
efforts made by the two sides to provide all the African Union has a pivotal role to play productive use appliances.
forms of cooperation between them. by expressing to all parties that a peaceful Despite the increasing interest in Africa’s
Abdel Aati said this important visit negotiated deal benefits all and not just some off-grid solar offerings, GOGLA’s statistics
expresses Egypt’s belief of the necessity to on the continent. reveal that investment in the sector has stalled
achieve the maximum degrees of cooperation The GERD project directly affects the over the last five years. In addition, nearly
and coordination with South Sudan to achieve flow of water, the supply of energy, and the 600mn people across the continent are still
sustainable development and improve the food security of Egypt, Ethiopia, and Sudan. expected to be without electricity in 2030
living conditions of South Sudan’s citizens. Recently, the region’s agriculture sector unless there is significant progress in scaling
Abdel Aati said the cooperation between has suffered due to abnormal precipitation up financing access.
Through the FSDAi’s investment, Nithio
FI’s innovative approach will unlock capital
for renewable off-grid energy in Africa,
supporting access to energy for households,
smallholder farmers, and micro-entrepreneurs
that would otherwise struggle to meet the
costs. This increased access to clean energy
will enhance approaches to countering climate
change and promote sustainable development.
This will be achieved by leveraging Nithio
FI’s innovative approach which integrates
repayment data and geospatial population
mapping into its AI models to produce a
standardised credit risk assessment and
forecast of cash flows.
FSDAi’s investment complements Nithio
FI’s total raise of $23mn. This comes alongside

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