While the need to transition to a cleaner energy future is a global priority, Africa’s energy poverty challenges require strong and immediate solutions, of which investment in infrastructure to strengthen energy supply and access is predominant.
Kicking off his presentation, Awambeng provided key insights into Africa’s infrastructure financing needs, stating that, “The scale of finance required by African countries to access energy for its population as per Nationally Determined Contributions is in the range of $2.5 trillion in the decade ending 2030.
Awambeng emphasised that consideration needed to be given to the wealth of natural resources, including the oil and gas that Africa possesses and how these can be used to drive economic development, just as was done in the developed world.