| Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. Africa stands on the cusp of an energy-investment boom — if it plays its cards right. The World Bank and African Development Bank have pledged $30 billion to bring electricity to hundreds of millions of sub-Saharan Africans by 2030 — a program dubbed Mission 300. They say billions more may come from the private sector if the environment is favorable. The lenders’ pledge comes with conditions.  A shop selling solar panels in Karakaene, Senegal. Photographer: Guy Peterson/AFP/Getty Images Authorities must hold competitive tenders, prioritize renewable energy and cooperate with their neighbors to source the cheapest available electricity across borders through power pools. The practice of winning votes by keeping electricity prices unsustainably low must also end. Reform will be politically difficult, but if it isn’t done poverty will remain entrenched. A dearth of power means children can’t study at night, women spend hours collecting wood for cooking and small businesses struggle to run — that all stunts economic activity. Of the 680 million people without access to electricity globally, 570 million live in sub-Saharan Africa. Solar mini-grids, more transmission lines and a rapid buildout of renewable power can help address that problem. Leaders are due to gather in Dar es Salaam in Tanzania at the end of the month to sign up to Mission 300 and the tough trade-offs should they agree. Nigeria, the Democratic Republic of Congo, Chad and Ivory Coast are among 13 nations that will present plans. It’s an opportunity the continent can’t afford to miss. — Antony Sguazzin Key stories and opinion:
World Bank Sets Africa Terms to Win $40 Billion in Power Finance
Biggest Mini-Grid Firm Aims to Raise $400 Million, Plans IPO
Rockefeller, Bezos-Backed Group Eye Fix for Fickle Nigeria Power
Climate Crisis Hinges on Green Power for the Poor, Study Shows
Wakanda’s Afro-Futurist Dream Is Still Remote: David Fickling When Daniel Chapo was sworn in as Mozambique’s new president this week, he took over as the leader of a nation shattered by months of protests and a crippled economy — and many people who don’t consider him legitimately elected. The nationwide unrest since a disputed October vote has disrupted mining operations, halted cross-border trade and seen widespread looting. Standard Bank expects national output to shrink for two straight quarters because of the turmoil.  Daniel Chapo at an election rally in October. Photographer: Marco Longari/AFP/Getty Images Rio Tinto and Glencore have held early-stage talks about combining their businesses to create a behemoth to rival longstanding industry titan BHP, sources say. A potential combination of two of the biggest names in African mining would rank as the largest mining deal yet, but any transaction would be complex and face multiple potential hurdles. The mining industry has been galvanized by a wave of dealmaking in the past couple of years, driven largely by a desire of the biggest producers to boost production of copper. Vista Group is expanding to France as the Burkina Faso-based lender looks to tap into trade opportunities between Africa and Europe. The lender, which bought Societe Generale and BNP Paribas’ African units and is owned by Washington-based Lilium, will open in France in the second half of the year. Separately, SocGen has found a new buyer for its subsidiary in Mauritania after an earlier plan to sell the African business didn’t get regulatory approval.  WATCH: Vista Chairman Simon Tiemtore speaks with Jennifer Zabasajja about the company’s expansion plans on Bloomberg TV. Carmakers in South Africa are imploring the local unit of ArcelorMittal and the country’s trade minister to work together to delay the planned closure of steel mills. Associations representing automotive-component makers and car manufacturers — including Volkswagen and Toyota — said they need at least a year to find alternative supplies. Shutting the mills could result in plant closures and job losses in their industries, they said. The US State Department demanded that Rwanda stop using GPS-jamming equipment in eastern Democratic Republic of Congo, where millions of people displaced by conflict are desperate for aid. The jamming and so-called “spoofing” is preventing United Nations peacekeeping and aircraft delivering assistance from flying in the region. Thousands of Rwandan soldiers are in Congo backing a rebellion by the M23 militia, the US said, echoing findings by a UN group of experts. Rwanda denies its troops are in the mineral-rich country.  Soldiers near Kibirizi, a town controlled by the M23 rebels in eastern Congo. Photographer: Alexis Hughet/AFP/Getty Images Ivory Coast, the world’s biggest cocoa grower, dismissed two military officials and local government personnel as part of efforts to curb smuggling. West Africa produces most of the world’s cocoa and authorities in both Ivory Coast and Ghana control farmgate prices to support the market. While the cost of beans between the two nations often only vary marginally in dollar terms, higher prices in nearby Guinea and Liberia can be an incentive for smuggling. The UK is willing to frontload the first seven years of annual payments to Mauritius as part of a sweetened deal ceding sovereignty of the Chagos archipelago to the Indian ocean island nation. Read our explainer on how the pending handover of the territory came to pass. Next Africa Quiz — Which African nation’s president is the world’s tallest serving leader? Send your answers to gbell16@bloomberg.net. Data Watch - Benin become the first African nation to issue a sovereign bond this year. Demand for the security was $3.5 billion, seven times the amount sought.
- Nigeria’s annual inflation rate climbed to the highest in almost 29 years in December, though an overhaul of the data later this month may lower the gauge going forward.
- A year after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability, and analysts expect it to last.
Coming Up - Jan. 21 Angola interest-rate decision, South Africa mining data for November
- Jan. 22 South Africa inflation for December & retail-sales data for November
- Jan. 23 Financial results for Guinness Nigeria and Sasol
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