Upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant Efficiency and Reliability
DAR ES SALAAM, Tanzania, August 27, 2019 – Songas Ubungo Power Plant provides more than 20 percent of the grid connected power in Tanzania; upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant Efficiency and Reliability.
GE (NYSE: GE) and Songas today announced they have successfully completed upgrades to the entire GE fleet of three LM6000PA and one LM6000PC gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania. These technology upgrades will increase the power plant’s efficiency and reliability, enabling Songas to maintain the plant in the most economical way possible.
“We are very pleased with GE’s execution because it was completed safely and ahead of schedule, with great commitment and consistency across the four LM6000 units,” said Nigel Whittaker, managing director, Songas Ltd. “The successful completion of this project not only improves Songas’ performance levels, but through the additional reliable supply of electricity, continues to contribute to the economic development of the country, making a significant difference in the lives of Tanzanians.”
GE’s upgrade of the four LM6000PA gas turbines to LM6000PC significantly improves the current LM6000 fleet. GE’s SPRINT (SPRayINTercooling) technology, installed on two of the four units, increases gas turbine performance, improves power flexibility, enhances the combustion system, improves fuel efficiency, extends maintenance intervals for the combustor, hot section and major overhaul and lowers maintenance costs.
“Over the past 15 years, Songas and GE have collaborated on the Ubungo power plant, and we’re excited to help enhance operations, increase capacity, and deliver the principles of safety first, quality foremost and operational excellence,” said Elisee Sezan, CEO for GE’s Gas Power business in sub – Saharan Africa. “Our goal is to bring long-term value to our customers and their power plants, like Songas, to maintain it in the most efficient way possible and, ultimately, contribute to Tanzania’s economic and social development.”
The Ubungo power plant provides more than 20 percent of the grid connected power in Tanzania. It includes four GE LM6000 gas turbines, which have been operational since 2004. In 2017, GE signed a multiyear agreement to upgrade gas turbines at the Songas Ubungo power plant in Tanzania. GE’s LM6000-PF dual fuel gas turbines power the 150-MW Kinyerezi power plant, which also has a multiyear agreement with GE for the long-term, reliable operation of its power plant.
Last year, GE achieved its 100th power plant installation in sub-Saharan Africa and has an installed base of over 300 turbines in up to 22 countries in the region.
ITFC and OCP Africa unite for the strategic financing, innovation, and capacity building of agriculture in Africa
ITFC CEO Eng Hani Salem Sonbol and CEO OCP Africa Mr Karim Lotfi Senhadj(Image: ITFC)
ITFC and OCP Africa will jointly introduce a new “OCP School lab” campaign in Senegal in November 2019
RABAT, Morocco, October 21, 2019- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, and OCP Africa, a subsidiary of OCP SA, have signed a Memorandum of Understanding (MoU) that will cater towards strategic funding, innovation and capacity building measures to increase agricultural production yields and income levels for Africa’s smallholder farmers. The agreement was signed between Mr Karim Lotfi Senhadji, CEO, OCP Africa and ITFC CEO, Eng. Hani Salem Sonbol.
The MoU will increase collaboration between ITFC and OCP Africa in various areas, including smallholder farmer training on sound agricultural practices; soil testing and fertility management to support better yields; innovation and digitalization tools to modernize agricultural practices; and capacity building and support of young farmers for sustainable and inclusive development.
Commenting on the MoU, Eng. Hani Salem Sonbol, CEO, ITFC, said that the cooperation with OCP Africa is in line with ITFC’s mandate to support the development of strategic value chains in countries member of the Organization of Islamic Cooperation (OIC). “The services provided by ITFC in the agricultural sector, both in terms of trade financing and tactial support, has expanded significantly over the past years, targeting critical areas of the value chain, from farm input to processing, pre-export, and export. The sector is also one of the value chains that is ready for innovation and SME development.”
OCP Africa’s CEO, Karim Lotfi Senhadji said, “The smallholder farmer is central to OCP Africa’s strategy to support the transition of farming communities from subsistence farming to modern, sustainable agri-business. Our aim is to strengthen the continent’s agriculture ecosystems thus enabling African farmers to prosper. The agreement with ITFC will support efforts to train farmers on best farming practices, test soils for accurate fertilizer recommendations, facilitate access to financing, and improve access to markets”.
ITFC and OCP Africa will jointly introduce a new “OCP School lab” campaign in Senegal in November 2019. A flagship program of OCP Africa, OCP School Lab is an innovative program aimed at increasing the yields and the incomes of smallholder’s farmers on strategic crops by offering a full set of agri-services:
- A School: interactive training sessions with live demos on good agricultural practices and animated videos in local dialects for higher impact
- A mobile Lab: Soil-testing using latest innovations (X-rays, big data and machine learning) and live information on soil needs and fertilizer recommendations
ITFC has been providing significant support to ensure food security in Sub-Saharan Africa. In 2018, trade finance approvals for the food & agriculture sector amounted to US$749.6 million, representing 14.4% of the total trade finance portfolio, a 71% increase compared to the previous year. Sub-Saharan Africa accounts for 50% of ITFC’s food & agriculture sector financing extended in 2018.
Egypt urges World Bank, IMF to support regional integrity in Africa
CAIRO – 18 October 2019: Minister of Investment and International Cooperation Sahar Nasr called on the World Bank and IMF to boost their support to Egypt in achieving regional integrity and intra-trade in Africa, a press release on Friday read.
Addressing the Intergovernmental Group of 24 on International Monetary Affairs and Development in Washington, Nasr called on the WB and International Monetary Fund to expand investments in the region.
The minister said that Egypt’s vision to face the slowdown in global economic growth and trade tensions is to achieve more economic integration and continue to take the path of reform to make our economies more competitive and attractive for investment, to achieve the aspirations of the world countries in growth and development.
Nasr explained that the Egyptian government has implemented a comprehensive economic and social reform program to promote sustainable growth, alleviate poverty, create good jobs, enable the private sector to promote growth, and provide opportunities for all sectors of society to participate in the economy, especially women and young entrepreneurs.
The Minister added that President Abdel Fattah al-Sisi, as the chairman of the African Union, has set the achievement of regional economic integration as a top priority.
Nasr also discussed Wednesday with the World Bank the provision of $500 million for the pollution control and solid waste management project in Egypt.
Nasr added in a statement that Egypt is also discussing with the World Bank raising the level of partnership to support the health and education sectors in Egypt.
For his part, World Bank Vice President for the Middle East and North Africa Farid Belhadj affirmed that Egypt is a very important country for the bank’s fields of work.
“Therefore the World Bank is keen to contribute effectively to the efforts exerted to achieve development in Egypt, especially in the field of infrastructure, in light of the economic and legislative reform that contributed to improving the investment climate in Egypt,”Belhadj explained.
African Development Bank inks €12.5 million deal with Adiwale Fund for SMEs
The African Development Bank on Thursday signed off on its €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in francophone West Africa.
The Bank Group’s board of directors approved the investment in March as part of its commitment to grow SMEs and improve livelihoods in countries underserved by the global equity market.
With a target fund size of €75 million, the Fund will take minority stakes in vibrant SMEs in countries where economic prospects and the Fund’s networks permit a rapid scale up.
Deal size for the Fund will range from €3 to €8 million. Primary target countries will include Cote d’Ivoire, Senegal, Burkina Faso and Mali, while secondary beneficiaries will include Togo, Benin and Guinea.
Across these economies, some of which are fragile states, the Fund will target three sectors: consumer goods and services, including education and health; business services such as transport, logistics, information technology and construction, and manufacturing, including pharmaceuticals, agri-processing and chemicals.
Abdu Mukhtar, Director for Industrial and Trade Development said the Fund’s investment strategy is aligned with the Bank’s High 5 goals especially ‘Industrialize Africa, Integrate Africa and Improving the Quality of Life for the People of Africa’.
“The most exciting part is that the Fund focuses on SMEs in francophone West Africa which accounts for nearly 19% of West Africa’s GDP but attracts only 7% of private equity capital. As these companies grow, they cross the borders and integrate across different countries,” Mukhtar remarked as he signed and exchanged deal documents with the Fund Manager’s co-founder Jean-Marc Savi de Tové.
Established in 2016, the Fund Manager, Adiwale Partners, houses a team of experienced West African nationals with several decades of combined private equity, operational, development finance and asset management experience in Africa, Europe and the United States.
From a development perspective, the Bank’s equity investment will provide growth capital to African SMEs, resulting in spill-over effects on job creation and tax revenues, with about 45% of the jobs going to women, Mukhtar said.
Savi de Tové said the Fund will also provide local entrepreneurs with management expertise and boost best-in class corporate governance and human capital development, which ultimately unlocks growth and supports economic transformation.
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