German Chancellor, Olaf Scholz, has pledged his country’s $4.4 billion support for Africa-European Green Energy Initiative at the ongoing G20 Compact with Africa Investment Summit in Berlin, Germany. The Chancellor said that the funding would cover the initiative through 2030 with his country importing a significant portion of its green hydrogen from African countries. Scholz […]
A new research report from Fitch Ratings has reflected the growing vulnerability of European insurers to weather-related losses, primarily attributed to reinsurers reducing coverage against medium-sized natural catastrophe risks. The trend, which commenced in 2022, is exemplified by results from the Italian non-life market, demonstrating a notable impact on profitability following reinsurance cutbacks. According a […]
The Nigeria Sovereign Investment Authority (NSIA) has launched a $500m Renewables Investment Platform for Limitless Energy (RIPLE) as part of its commitment to boosting the nation’s power generation and supply on a sustainable basis in the years ahead, Specifically, the initiative aims at the development, investment, and operation of renewable energy projects across the entire […]
As 2024 fast approaches, analysts at investment bank, Morgan Stanley, currently don’t see any sign of headwinds to affect reinsurance pricing for the renewals and into the next year, with capital supply remaining balanced in the sector. A news report from Artemis.bm, an online medium, quotes the investment bank analysts as saying that results seen […]
The National Agency for Science and Engineering Infrastructure (NASENI) and the Federal Ministry of Agriculture and Food Security have commenced discussions on how to deploy existing technical competencies and other resources by the two institutions to improve agro allied-industries’ development targets, climate change mitigation and smart solar irrigation aimed at dry-season farming in the country. […]
The Head of Property & Casualty Reinsurance SID at Swiss Re, Victor Kuk, has highlighted the escalating crisis of natural catastrophes in Asia, with over 30% of the global nat cat events in 2022 occurring in the continent, causing staggering economic losses. The industry expert was quoted by Reinsurance News during an interview as expressing […]
The Federal Government is projecting to attract over $ 2 billion in investment into the Nigerian economy and create more than 250 employment opportunities for different professionals through the Presidential Compressed Natural Gas Initiative (P-CNGi). The Chief Executive Officer, P-CNGi, Engr. Micheal Oluwagbemi, disclosed this at the weekend during the official commissioning of CNG conversion […]
The International Energy Agency (IEA) has projected that fossil fuels’ share in global energy supply would drop to 73% by 2030 and carbon dioxide emissions peaking by 2025 despite the fact that global oil demand would peak this decade at about 102 million barrels per day (mbd) for two more decades. The agency, in its […]
The European Union (EU) has granted the Nigerian Nuclear Regulatory Authority (NNRA) €1 million for the implementation of an international nuclear safety cooperation project for the safe management of radioactive wastes in Nigeria. A news broadcast by Arise TV quoted the authority’s Director-General, Dr. Yau Usman Idris, as confirming the grant following the confirmation by […]
The United Kingdom (UK) government has pledge to help African countries expand their critical mineral supply chains – with a focus on promoting mineral exploration and processing, generating value-added activities and creating local jobs. The country made the pledge on Wednesday during the Critical Minerals Africa 2023 summit in South Africa to enable African countries […]