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Expert: Africa needs $80 billion in energy investment annually

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Africa should learn to preserve its energy for the benefit of its development needs, which requires $80 billion annually.

Speaking at the Africa Energy Indaba (summit) currently underway at the Sandton Convention Centre in Johannesburg on Tuesday, 19 February 2019, Christoph Frei, World Energy Council’s Secretary General, said: “We need to preserve our energy to attract economic growth into the African continent. We need energy to create more job opportunities.”

Frei said his priorities have been to mobilise international energy leaders and decision-makers to work together towards building a sustainable future, underpinned by robust policymaking.

In this regard, he said, his main focus has been to provide world decision-makers with the necessary evidence base and the high-level dialogue platform for energy policies.

According to the expert, the African energy sector required US $40 billion worth of investment annually with a production capacity requirement of 7,000 megawatts per year in order to meet demand and ensure energy access to all Africans.

This demand presented a major opportunity for companies to explore business opportunities in the African energy sector.

As such, delegates at the conference would discuss, debate and seek solutions to enable adequate energy generation across Africa.

The Africa Energy Indaba is a World Energy Council (WEC) African regional event.

The event receives global recognition from energy professionals operating in Africa.

– APA

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