Africa’s energy sector is at war against population growth and if the investment community cannot compete, it runs the risk of becoming obsolete.
This is due to the increase in demographics. Amidst climate change debate and whether gas and other natural resources should be monetised, experts say by 2050, nearly quarter of the world’s population (2,5 billion people) will be living in Africa.
“In particular, the population of sub-Saharan Africa is projected to double by 2050 (that constitutes a 99 per cent increase) with 60 per cent of the population being under the age of 25,” they say.
The statistics are worrying but suggest the solutions lie in advanced technology adoption and the proliferation of free Wi-Fi to enhance learning and access to already available resources.
It is for this reason that EnergyNet Ltd is organizing the Africa Energy Forum in Brussels between June 22-24.
Stakeholders at the forum will discuss project development and how private sector needs to evolve to promote greater stability from political changes and instability.
Egypt’s sectoral framework, for instance, has liberated 28GW in only eight years and is a model that can be replicated across Africa at varying scales.
South Africa’s IPP Office model was widely agreed to be the most successful (and aggressive) renewable energy programme in the world and can be replicated across Africa.
The forum will bring together over 150 speakers including eight ministers of Energy, 10 utilities, 21 development financial institutions and over 70 private sector investors from Kenya, South Africa, Nigeria, Ghana, Egypt, Tanzania, Botswana, Morocco, Senegal, Côte d’Ivoire and Mozambique.
Kenya among 6 African states to benefit from AfDB $164m energy funding
