In an interview with Global Platform, Abdelmoumen Ould Kaddour, CEO, Sonatrach, speaks on how the global lower oil price environment has spurred the diversification of Algeria’s energy sector. Gas production in particular has accelerated, and the country has built the necessary infrastructure to export gas to new markets. In addition, the petrochemicals downstream industries have been targeted for development, and there are plans in place to utilise solar energy at oil and gas fields. As the country expands its energy capacities into new areas, partners will be key in sharing the risk across numerous endeavours.
Macroeconomic forces such as inflation, geopolitical tension punctuated by Russia’s invasion of Ukraine and spikes in commodity prices heightened supply chain disruptions in 2022, which included capacity constraints, higher freight costs, labour shortages and port slowdowns.
Although economies in Africa faced uncertainty in 2022 as economic and global shocks weighed on post-Covid-19 pandemic recovery, intraregional trade and climate finance initiatives are helping to chart a course towards more sustainable development.
Key reforms are lowering barriers to foreign direct investment (FDI) and improving the ease of doing business in Côte d’Ivoire as the country looks to rebound from the Covid-19 pandemic.
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