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    BREAKING NEWS
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    The African Development Bank and World Bank inaugurated Electricity Regulatory Index Reports for Africa and the World

    Posted On 11 Dec 2022
    By : New Africa Business News, Staff Correspondent
    Comments: 16

    By Abdul Rahman Bangura-

    Photo Credit: gegridsolutions.com

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The announcements to catch up with the state of the power sector regulation in Africa and across the improving world. The AfDB and the World Bank carried a virtual blastoff circumstance on Thursday, December 8th, 2022 heeded by 240 government
    administrators, regulatory forces, development finance institutions, and African and global private sector stakeholders.

    The African Development Bank’s electricity Regulation Index (ERI), publicized in 2018, has been widely approved by regulators and additional stakeholders across the African landmass to measure electricity regulatory environments by way to steer reforms in the sector. This new fifth edition covers 43 of the 45 African countries host autonomous regulatory councils.

    2022 captions the inaugural publication of the Global Electricity Regulatory Index (GERI) 2022, funded by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and embarked in coalition with the African Development Bank. GERI censuses 82 non-OECD nations from across the world – about half in Sub-Saharan Africa and the remainder across Asia, Europe, the Middle East, and Latin America – and constructs portion of the World Bank’s widespread endeavor to improve a vigorous electrical sector regulatory climate.

    Wale Shonibare – Director for Energy Financial Solutions, Policy and Regulation at the African Development Bank reported that, the Bank has initiated undertakings to mainstream electricity sector regulation problems in Africa since 2018, funding the institution of strong legal and regulatory receptacles and establishing encouraging
    environments for private sector enterprise.

    “This year heralds a crucial new stage for our research thanks to our collaboration with the World Bank. This allows us to compare African regulation with that of other developing regions and shows that the ERI has been influential not only in Africa but also the rest of the world”, he started.

    “While a lot of progress has been made with the establishment of regulatory frameworks, the Global Electricity Regulatory Index (GERI) report highlights some systematic gaps, particularly about regulatory independence and the practice of tariff regulation,” said Vivien Foster, World Bank Chief Economist for Infrastructure.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
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    16 Comments

    1. Jeannice December 11, 2022 at 4:34 am Reply

      Electricity regulation index way forward. Libreville in Gabon. Jeannice

      • New Africa Business News, Staff Correspondent December 11, 2022 at 5:08 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Nuru December 11, 2022 at 4:44 am Reply

      Thank you for the report. Important to fund our institutions for strong legal, regulatory receptacles and establish encourage environments. Gaborone in Botswana. Nuru

      • New Africa Business News, Staff Correspondent December 11, 2022 at 5:08 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Alex December 11, 2022 at 4:50 am Reply

      Thank you for responding to my emailed. I already voted for New Africa Business News- PERSON of the year. Antananarivo in Madagascar. Alex

      • New Africa Business News, Staff Correspondent December 11, 2022 at 5:08 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Ahmed December 11, 2022 at 4:52 am Reply

      Abdul Rahman Bangura thank you for the reports. Ahmed in Cairo, Egypt

      • New Africa Business News, Staff Correspondent December 11, 2022 at 5:06 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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      Love your weekend newsletters. Thank you. Harare in Zimbabwe. Hope

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    6. Agu December 11, 2022 at 5:00 am Reply

      I also voted for the Africa president of the year. Thank you for all your media group are doing. Covering our great Continent. Port Harcourt in Nigeria. Agu

      • New Africa Business News, Staff Correspondent December 11, 2022 at 5:06 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Eva December 11, 2022 at 5:03 am Reply

      Love your daily newsletters. Love them. Malmo in Sweden. Eva

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    8. Ali December 11, 2022 at 5:14 am Reply

      Fan of new Africa news. Thank you. Bujumbura in Burundi. Ali

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    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

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    • Nigeria Launches National Domestic Payments Card Program
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