Business Edge | IEA Says Time Is Running Out For African Gas

IEA Says Time Is Running Out For Africa's Gas | Bitcoin Recovers But Investors Still Fear Effect

A note of warning has been sounded to Africa from the International Energy Agency: if the continent is to make any revenue from its gas reserves, it has a limited window to do so. In its Africa Energy Outlook, the IEA states that the continent has only forty years before the rest of the world cuts its carbon emission to net-zero and that should Africa’s gas producers be able to fully develop its infrastructure and market by 2030, it will have sufficient capacity to deliver two-thirds of its domestic needs and have enough to export to the rest of the world. While this is a promising prospect, the advent of the Russian war on Ukraine has exposed Africa’s lack of capacity to step in the gap created by the ongoing war. Business Edge features Craig Morkel, Chairman, Southern Africa Oil and Gas Alliance’s Gas Economic Team, who discusses with Tolulope Adeleru-Balogun from Cape Town, South Africa.

Traditionally, the Western powerhouses have typically determined how Africa extracts and markets its natural resources, including gas. The deadline set for achieving net-zero emissions is feasible for those economies but might be difficult for African countries to reach that status in that time. Nevertheless, Morkel thinks Africa ought to be engaging with those developed economies with a view to investing in African structures and processes. “

The second half of Business Edge delves into the current status of Bitcoin and other cryptocurrencies. The crypto market has seen more than half of its value wiped out in losses in recent months and observers have expressed worry that the persistent losses could cause a domino effect that could topple the entire system. Crypto Watch talks to Ola Atose, CEO of Coin Koin Exchange who sits with Lekan Onabanjo in our Lagos studio.

Watch the full one-hour episode of Business Edge above.


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