This Is The State of The African Energy Sector
By Abdi Ali
Published October 27, 2021
A report that outlines the forces that shape Africa’s energy sector, investment trends and opportunities and key focus areas for 2022 and beyond has been launched.
African Energy Chamber (AEC), the publisher of the annual The State of African Energy report, says it provides valuable insight into solutions that can be acted on.
The State of African Energy 2022 report provides global and African stakeholders with a detailed understanding of current and emerging investment trends, offering up data-based solutions to the challenges faced by the industry.
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During the webinar that was moderated by NJ Ayuk, Executive Chair of AEC, panellists provided insight into what readers can expect as well as key takeaways from the 2022 outlook.
One of the primary topics identified was the need for a balanced, Africa-centric energy transition, one that incorporates the needs of the African continent within global climate mitigation strategies. Specifically, the report offers up an African perspective to global energy transition dialogue, emphasising how the continent needs to make energy poverty history while ensuring carbon emissions are reduced.
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The State of African Energy 2022 stresses that holding significant resources does not necessarily result in accelerated socio-economic growth, but supportive regulation, market-driven policies, and investment friendly fiscal terms will be critical if the continent is to realise its energy sector and economic objectives. With the world competing for global capital like never before, the report emphasises the role that regional cooperation, harmonised regulations, and attractive business landscapes will play in 2022 and beyond.
“We must be thankful to the energy sector that has been the backbone of Africa’s recovery. We at the Energy Chamber must continue to believe in our key values of free markets, limited government, fiscal discipline and personal responsibility and urge governments to refrain from engaging in excessive regulation or high taxes on the energy sector” said Ayuk.
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Serving as form of a prelude to African Energy Week (AEW) 2021, taking place in Cape Town (South Africa) November 9 – 12, the launch of The State of African Energy 2022 will be both transformative and imperative for Africa’s energy sector. AEW 2021 is expected to promote the insights gathered in the AEC’s outlook, offering stakeholders a detailed understanding of African markets, trends, and opportunities.
