In this Global Platform video, Oxford Business Group speaks with Edward Koranteng, CEO, Minerals Income Investment Fund (MIIF), on Ghana’s mining industry. While Ghana is Africa’s largest gold producer, it has yet to fully benefit from its resources compared to countries with similar output. The government aims to enhance the country’s global competitiveness by investing in projects focused
En Français – A new wind farm is set to boost installed capacity by 50%, averting 252,500 tonnes of CO2 emissions annually – Legal reforms have opened the door for independent power producer-led projects – A solar-powered desalination plant represents a shift away from hydrocarbons – 45-MW expansion planned by private and public investment partners Efforts in Djibouti…
Misrata is playing a central role in the diversification of Libya's economy, focusing on the shipping, manufacturing, automotive, construction, ICT, health care and education sectors. With strategic ports like Tripoli, Benghazi and Misrata, the government aims to make the country an international trade hub through partnerships with private investors for port modernisation. Tax incentives and free
Ihya Libya Vision 2030 includes a pillar dedicated to infrastructure, setting out targets to establish a system that connects all towns and cities with high-quality roads, communications networks, electricity and water supplies, and advanced social facilities, providing access to education and social services for all citizens. The infrastructure pillar of Ihya Libya Vision 2030 outlines key…
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…
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…
A 2021 report prepared by the HIB suggests a shift from public housing towards investment-related PPPs, a funding strategy adopted by several other countries. Security financing concerns remain key barriers to development. In the past the country has attempted to hand over stalled projects to local contractors for completion, but questions remain surrounding debts owed to foreign contractors for partially…
Libya’s urban population has been rising rapidly, with urbanisation rates climbing from 49% in 1970 to 79% in 2016. As of 2019 around 85% of Libyans resided in the major cities of Tripoli, Benghazi, Misrata and Bayda. With the population predicted to increase in the coming years, access to housing, food, clean drinking water and employment opportunities – as well as health care, education…
Since the discovery of oil in the early 1900s and the start of production in 1959, the economy has been centred around hydrocarbons. Libya is a founding member of the Organisation of Arab Petroleum Exporting Countries and a member of the Organisation of the Petroleum Exporting Countries (OPEC). It has 48.4bn barrels of proven crude oil reserves – the most in Africa – and 1.5trn cu metres of proven…
As a member of the Organisation of the Petroleum Exporting Countries and 48.4bn barrels of proven crude oil reserves – the most in Africa – and 1.5trn cu metres of proven natural gas reserves, Libya is a significant player in the regional and global hydrocarbons sector. The state-run National Oil Corporation (NOC) is responsible for exploration and production. By increasing the involvement of IOCs…