MafAfrique and Unet Energia of Italy to explore Africa’s energy market
Advisory and fund management group, MafAfrique and Unet Energia Italiana, a Company in the free market of energy combined with storage management system in Europe, will be jointly exploring the Africa’s emerging energy opportunities within the first half of 2020.
MafAfrique Cofounder and Chairman, Byron Mudhune while not providing details said that major aim of this exploratory working arrangement is to identify key markets within Africa for renewable energy business and promoting trade ties with selected African Countries.
“To enhance Africa’s industrial and commercial productivity segment, some markets in Central and Southern Africa already look quite interesting especially moving from energy efficiency to energy sufficiency using solar, solar public lighting and rehabilitating dilapidated hydro power plants; therefore we shall engage with the private sector in those countries to discuss the opportunity, scope of cooperation and address key issues around regulations”, he added.
“There are Fifty-four African countries comprising over 1 billion population with a significant number not having access to electricity, denying them the right to improve the quality of their lives. Unet Energia Italiana wants to cooperate to overcome the hunger for energy in Africa whilst respecting the planet”, said Unet Energia Italiana President Giuseppe Pirola.
Africa is the second largest continent of the world with 54 sovereign states and a population of 1.2 billion with collective GDP US$ 3.3 trillion and domestic energy market of over $ 15 billion per annum however, Italy’s export of goods to Africa is roughly about EUR 18 billion as at 2018 whereas the total import stood at roughly EUR 22 Billion over the same period, ranking it as one of the top five countries in EU in terms of trade in good deficit with Africa.