Located at a crossroads between Africa, Asia and Europe, Egypt remains one of the world’s most strategically important countries, as it has been for millennia. Egypt has the third-largest GDP in the Arab world, after oil-rich Saudi Arabia and the UAE. It is considerably more diversified than many economies in the region, with manufacturing and agriculture key contributors, making up 14.5% and 15.7% of GDP, respectively, according to the Central Bank of Egypt, as well as oil and gas extraction.
By 2017 the country has an ambitious target of adding 5000 MW to the national grid. Of this, the government plans to include 1600 MW from geothermal sources, 1920 MW from coal-powered plants, 420 MW from hydro and 650 MW from wind. The government has outlined a significant role for the private sector in these projects, and recent legislative reforms should see the number of independent power...
An anticipated recovery in the upstream segment in 2017 could spur a new round of investment, and downstream demand is expected to continue rising, particularly as vehicle sales accelerate. While the forecast for 2015 is mixed, the industry’s long-term prospects remain bright, and the sector is likely to be a major economic engine over the next five years. The total volume of petroleum...
Kenya is one of the economic and political heavyweights of East Africa. Despite recent security issues, it is recording strong economic growth and maintaining its leading position in the region. Recent discoveries of new oil, gas and water reserves and a young population give further cause for optimism, and the government is working to put the right policies into place to maximise the country’s potential.
Hydrocarbons wealth has underwritten Algeria’s growth for decades, allowing the country to accumulate huge foreign currency reserves and underwrite a major public spending campaign over the past 10 years. However, the dramatic drop in oil prices since mid-2014 has had an impact. Despite GDP growth of 4% in 2014, Algeria also experienced its first current account deficit since the late 1990s,...
Algeria is a country rich in history and situated in a strategically important region. While its past has at times been turbulent, the last decade has been one of relative peace. Economic growth and development has followed, driven primarily by advances in the hydrocarbons sector.
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