Friday, September 29, 2023
  • Login
The Southern African Times
  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Technology
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
    • Events
  • Shop
  • About Us
    • Advertise with Us
    • Contact Us
No Result
View All Result
  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Technology
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
    • Events
  • Shop
  • About Us
    • Advertise with Us
    • Contact Us
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Business

Energy Infrastructure Key for Africa’s Development and Security: WECA

by SAT Reporter
December 10, 2020
in Business, Just In
0
Energy Infrastructure Key for Africa’s Development and Security: WECA
0
VIEWS

(The Southern African Times) – Africa’s energy security could be given a major boost if states and companies worked together to develop energy infrastructure projects, according to industry experts speaking at the Energy Council’s World Energy Council Assembly (WECA) digital forum last week.

The Spotlight on Africa discussion focused on the continent’s energy future and the need for greater foreign direct investment (FDI). FDI into Africa is set to drop between 25-40% this year due to the double blow of the coronavirus pandemic and low commodity prices. This starkly contrasts with the growing rate of energy demand on the continent, which is set to increase by 60% in the next twenty years.


The Spotlight on Africa discussion focused on the continent’s energy future and the need for greater foreign direct investment (FDI). FDI into Africa is set to drop between 25-40% this year due to the double blow of the coronavirus pandemic and low commodity prices. This starkly contrasts with the growing rate of energy demand on the continent, which is set to increase by 60% in the next twenty years.

Governments across Africa are looking to attract FDI into the continent’s energy sector, something that is crucial for development, energy security, and economic growth. The expert panel at WECA believes that smaller bespoke energy projects are the way forward, with localised projects enabling stable local energy supply but without the environmental impact of larger projects.

Kwaku Boakye-Adjei, a director of Ghana’s Tema LNG Terminal Company and a WECA panelist, was clear that, if African governments and investors focused on small domestic projects, they could achieve increased energy security whilst also reducing carbon emissions.

He stressed that greater dialogue between governments, investors, and energy companies is key for attracting FDI into the energy sector, with more time needed to appraise and develop projects.

“Governments need to have conversations with international companies and investors, to make sure the solutions they create are bespoke and project-specific,” said Kwaku Boakye-Adjei. “If they do this and can be flexible, they will be successful in attracting investment.”

Yann Livulibutt Yangari, the head of gas at Gabon Oil, supported Boakye-Adjei’s argument that there needs to be a focus on projects that bring energy to those that need it. Energy projects that are significant for the region and can be used by the local market, but do not cater to export markets and industrial users, will reduce the carbon emissions of these projects, even when using hydrocarbons.

Using the Tema LNG project in Ghana as an example, Boakye-Adjei said, “Thinking about Tema, it speaks as an example of how you can have a big impact. Around 30-50% of losses come in the way you move energy around. We can reduce the amount of fuel we are wasting and reduce carbon emissions by changing the way we deliver electricity.”

“If we deliver by microgeneration, instead of large scale IPPs, you cut waste by 30%, which has a huge impact on carbon emission. If you marry that with a move from heavy fuel, oil or diesel to gas, you will cut that by another 30%.”

“In Africa, we can deliver that radical change but without impacting development. Because without impacting development, they won’t support it.”

Projects like Tema LNG will be more beneficial for those who most need access to low-cost energy and electricity. By creating a regional hub, Boakye-Adjei argued, investors can facilitate regional development by creating regional distribution networks. This allows small countries that would not be able to afford a project like Tema LNG to benefit from a stable and cost-effective energy flow, whilst staying small in an export sense, reducing both cost and carbon emissions.

Yangari also pushed for small-scale projects, highlighting that they will boost the local economies and in turn attract further investment. Traditional large-scale energy projects often fail to benefit the local community. He offered the example of Mozambique, a country with major gas reserves and drilling that is exported to South Africa, where it is used to boost the South African economy, not that of Mozambique.

The experts agreed that investors must avoid a one size fits all approach for the African energy sector to develop. Investors were encouraged to move away from traditional safe and large-scale investment projects and instead to move towards building long-term relationships and bespoke projects with African governments.

It is time for investors to reflect on the reality of the region and adapt to fit what different countries need. The panel concurred that now is the time to seize investment opportunities in Africa and create a systemic approach to boosting energy access in Africa.

Previous Post

Kenya’s Kandie smashes half marathon world record in Valencia

Next Post

Ghanaian president wins re-election for 2nd 4-year term

SAT Reporter

Related Posts

Angola Introduces 2023-2027 Development Plan with 3% Growth Target
Business

Angola Introduces 2023-2027 Development Plan with 3% Growth Target

by SAT Reporter
September 29, 2023
Tanzania Extends Welcome to Chinese Investors to Fuel Industrialisation Drive
Business

Tanzania Extends Welcome to Chinese Investors to Fuel Industrialisation Drive

by SAT Reporter
September 27, 2023
Avian Flu Ravages South Africa’s Poultry Industry, Threatening Soaring Costs
Business

Avian Flu Ravages South Africa’s Poultry Industry, Threatening Soaring Costs

by SAT Reporter
September 27, 2023
Zambian Neobank Lupiya Secures $8.25 Million in Series A Funding to Drive Financial Inclusion in Africa
Business

Zambian Neobank Lupiya Secures $8.25 Million in Series A Funding to Drive Financial Inclusion in Africa

by SAT Reporter
September 19, 2023
G20 Set to Grant Permanent Membership to African Union
Business

G20 Set to Grant Permanent Membership to African Union

by SAT Reporter
September 8, 2023
Next Post
Ghanaian president wins re-election for 2nd 4-year term

Ghanaian president wins re-election for 2nd 4-year term

Browse by Category

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • All News
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • BRICS
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • CRYPTOCURRENCY
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Economy
  • Education
  • Egypt
  • Energy
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • GABON
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Niger
  • niger
  • Nigeria
  • North Africa
  • North-Eastern Africa
  • Opinion
  • Politics
  • Property
  • Racism
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Sudan
  • Sustainablity
  • Tanzania
  • Technology
  • Telecommunications
  • The Power Of She
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa News african footballer African investments african markets African news African start-up Agriculture banking Business China Classic Climate change Content currency economy Explore Bali Finance football Investment Kenya Life Style Markets Market Stories Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.
  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Technology
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
    • Events
  • Shop
  • About Us
    • Advertise with Us
    • Contact Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist