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Analysis

Plants in Misrata helping to boost Libya’s electricity generation
OBG
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While Libya is a leading oil and gas producer in Africa, it has faced a power production deficit for several years, though the gap was beginning to narrow in the second half of 2022. In August 2022 the General Electricity Company of Libya (GECOL) reported a shortage of 3200 MW in July, with production capacity ranging between 5100 and 5300 MW and demand at 8480 MW. In June 2022 GECOL linked…

Analysis

Misrata, Libya looks to renewables to meet growing energy demand
OBG
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While oil and gas will continue to play a significant role in the global energy mix over the next two decades, as the demand and consumption of fossil fuels move through and past their peak, many countries are taking action to increase efficiency, reduce costs and mitigate security concerns. Libya was projected to see its energy consumption rise by more than 250% in 2012-20. However, continued…

Analysis

Misrata leader in maritime trade as it works to revitalise rail
OBG
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The railway system was established in 1912 during the Italian occupation of the country, but it has remained largely unused since 1965, with a total track length of just over 600 km. The government has been working on plans to revitalise the rail network since 1998. Following various construction projects over the years, progress was halted by the outbreak of conflict in 2011. Libya’s…

Analysis

Misurata Free Zone’s regulatory environment attracts investment
OBG
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The Misurata Free Zone (MFZ), established by government decree in 2000, aims to promote the development of manufacturing, industry and entrepreneurship in the Misrata region, as part of efforts to diversify the broader national economy. As an independent entity operating under the Ministry of Economy, the MFZ seeks to optimise local potential and resources in the context of sustainable growth. Creating…

Analysis

Misrata airport sees expansion as air transport links expand
OBG
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The history of air transport in Libya dates back to the establishment of Libyan Airlines in 1964. In recent years the country’s air transport segment has faced significant uncertainties, including political instability, investment shortfalls and outdated infrastructure. These challenges have resulted in disruptions to air travel, with major airports in Tripoli, Benghazi and Misrata having experienced…

Analysis

Digital financial services could boost inclusion in Misrata, Libya
OBG
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Creating an ecosystem for financial technology (fintech), most particularly at a subnational level as in the city of Misrata, is crucial for both technological advancement and economic growth. Fintech ecosystems are typically built on five pillars: start-ups, technology developers, governments, financial customers and traditional financial institutions. However, these pillars vary depending on economic…

Analysis

Banking penetration rises in Libya as it shifts to a cashless economy
OBG
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Libya’s banking sector compares favourably to some of its neighbours. For example, as of June 2021 over 65.7% of Libyans had financial accounts; as of February 2022 over 81% lived in urban areas and therefore had access to financial services, while 49.6% were active internet users. In comparison, the banking and internet penetration rates in neighbouring Egypt in 2022 were 60.6% and 72.2%,…

Analysis

Misrata’s strategic location key for trade and transport
OBG
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The city’s location has been advantageous for trade and transport throughout its history, and the port serves as a vital gateway for imports and exports, facilitating trade connections between the city, other parts of Libya and countries situated along the Mediterranean Sea. Misrata’s climate is classified as Mediterranean, meaning it is characterised by hot, dry summers and mild, wet…

Analysis

Misrata looks to public-private partnerships to accelerate development
OBG
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Public-private partnerships (PPPs) have been used in a number of different forms to help develop public works or infrastructure projects when funding for them is either limited or unavailable. By implementing PPPfocused policies, the government in Misrata hopes to leverage the expertise, resources and efficiency of the private sector to accelerate infrastructure development, attract investment…

Analysis

How Misrata is working to attract foreign investment
OBG
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Although Libya’s efforts to attract investment are overseen from the capital, Tripoli, the Misrata municipal council, business associations and companies operating in the private sector are helping bring foreign direct investment into the city and wider district. The Misurata Free Zone (MFZ) is the city’s most prominent magnet for foreign investment. The zone offers and promotes a number of…