🔅 Floating Solar Panels: The Future of Africa's Energy?

Africa's Millionaire Exodus & Chad's Ammunition Depot Explodes

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A 19th-century Swazi container.

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Spotlight Stories

Floating Solar Panels: The Future of Africa's Energy?

CHUTTERSNAP

As Africa's electricity demand is set to triple by 2050, a new study suggests that floating solar panels could be the answer to the continent's energy needs – without the need for more dams.

Researchers have found that installing floating solar panels, or photovoltaics, could generate anywhere from 20% to 100% of the power expected from planned hydropower dams in Africa. 

These floating panels are more efficient than their land-based counterparts, as the water keeps them cool and allows them to operate at optimal temperatures. Plus, they can use existing dam infrastructure to feed electricity into the grid.

A Floating Solution, Not Without Its Flaws

While hydropower dams have been a go-to solution for many countries, they come with a host of problems: 

Droughts, exacerbated by rising temperatures, can render them unreliable. If poorly planned, they can also wreak havoc on the environment – on water bodies, forests, and farmland. This, in turn, can deplete communities' food resources and impact local economies.

Floating solar panels aren't perfect – they can disrupt fishing activities – but the authors of this article claim they're a better option than building more dams. Solar energy is cheaper and cleaner, saving communities money while having a smaller environmental footprint. 

As the study's authors note, "Floating photovoltaics (FPV) is fast becoming cost-competitive, but its social and environmental impacts are under debate."

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Chad's Ammunition Depot Explodes

Andy Watkins

An ammunition depot in Chad's capital, N'Djamena, exploded yesterday, leaving an unknown number of people killed and injured. The blaze, which occurred at the military depot in the Goudji area, lit up the night sky, and the explosions could be heard miles away.

Foreign Minister Abderaman Koulamallah confirmed the incident, while President Mahamat Idriss Déby sent his condolences to the victims and their families, without specifying the number of casualties.

Unverified video footage showed the blasts illuminating the sky, and witnesses reported that the explosions could be heard from afar. The weapons depot, located near the military headquarters, a French army base, and the airport, is the country's main arsenal, which explains why the explosions were so intense.

Journalists from AFP reported that the blaze caused weapons to fire into the air, while a French official mentioned "explosions of ammunition of all calibres." One resident saw three wounded people on the street, while another said his neighbor was killed.

Moustapha Adoum Mahamat, a resident, described the terrifying experience: "Loud blasts woke us up. Our house was shaking as if someone were shooting at us. Then we saw a big fire at the military camp and smoke and things exploding in the air. We could see artillery fly over us."

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Africa's Millionaire Exodus: The Great Wealth Migration

Mufid Majnun

Africa has managed to lose nearly 20,000 millionaires in the past decade.

According to a report by Henley & Partners, there are now just 135,200 individuals in Africa with wealth of $1 million or more, an 8% decline from 2013. According to the report, the main culprits for this exodus are currency depreciations and underperforming stock markets.

South Africa, the country with the highest number of millionaires on the continent, has been particularly hard hit. The country lost 20% of its millionaires in the last 10 years, thanks to a perfect storm of logistics constraints, rolling blackouts, endemic crime, and corruption. 

Egypt and Nigeria, the runners-up in the African millionaire race, haven't fared much better: They've been grappling with runaway inflation, foreign-exchange shortages, and multiple currency devaluations.

But wait, there's a silver lining! 

Despite all the challenges, Africa's millionaire population is expected to rise by 65% in the next decade.

Mauritius, in particular, with its stable governance and favourable tax regime, is projected to experience a remarkable 95% growth rate in millionaires.

Namibia, too, is poised for impressive high-net-worth growth.

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Food for Thought

“An intelligent enemy is better than a stupid friend."

— Senegalese Proverb