Can all of Africa get access to electricity?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 23 June 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
US stocks stay fairly flat after Fed Chair Jerome Powell testifies in Congress, a Ukrainian-made drone hits an oil refinery in Russia, and the International Energy Agency says investing $25 billion annually could lead to universal electricity access in Africa by the end of the decade.
Mentioned in this podcast:
Jay Powell warns US recession is ‘certainly a possibility’
‘Kamikaze’ drone strike hits oil refinery in southern Russia
Africa needs $25bn a year of investment to boost energy provision, says IEA chief
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.4 | Learn more at equinole.co.uk |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.5 | Today is Thursday, June 23rd, and this is your FT News Briefing. |
| 0:17.9 | US markets were pretty much flat yesterday, even after the head of the Federal Reserve said a |
| 0:23.2 | recession was possible. Moscow says a drone hit an oil refinery in Russia. |
| 0:28.5 | Military experts say it's likely the latest in a series of Ukrainian attacks, |
| 0:33.6 | and nearly half of Africa doesn't have access to electricity. |
| 0:38.0 | We'll take a look at how much it would cost for the continent to get there. |
| 0:41.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:50.8 | Fed Chair G. Powell told Congress the economy could stand even tighter, |
| 0:54.9 | monetary policy, higher interest rates, that is. But he also said there could still be a recession. |
| 1:01.1 | Bell says avoiding the economic downturn depends on factors outside the Fed's control. |
| 1:06.3 | Those include the war in Ukraine and the COVID lockdowns in China. |
| 1:10.0 | Markets seem to greet Powell's words with a resounding |
| 1:13.6 | May, the S&P 500 lost a little more than a tenth of a percent on the day. |
| 1:18.0 | It's down more than 20 percent since it's peak in January. |
| 1:27.0 | A fire broke out at an oil refinery in Russia on Wednesday because of a drone attack |
| 1:31.6 | that's according to state media. It's one of several attacks that military experts say are |
| 1:36.4 | likely linked to Ukraine. If T's John Paul Rathbone is here to discuss them and give an update |
| 1:41.8 | on how the fighting in eastern Ukraine is going, G.P. what are these attacks targeting |
| 1:47.2 | and how significant are they? So Wednesday's attack was by Kamikaze drone, |
... |
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