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Opinion
- Africa will eventually rely primarily on renewable energy, as much of the rest of the world strives to — but on its own timetable.
- To achieve a carbon neutral future, African nations must have the underlying infrastructure and industry to make the dominance of renewables possible.
- But as things currently stand, most African states lack said infrastructure and industry.
There’s a promising future for African renewables as the continent strives to balance its current reliance on fossil fuels. That’s the prediction of the African Energy Chamber’s 2025 Outlook Report on the State of African Energy.
As I have said before, Africa will eventually rely primarily on renewable energy, as much of the rest of the world strives to — but on its own timetable, not that of Western countries who have benefited for centuries from the exploitation of fossil fuels.
To achieve a carbon neutral future, African nations must have …
- Beyond physical infrastructure, Africa’s integration requires modern software upgrades: the systems, policies, and institutional frameworks that power trade across borders.
- By positioning economic transformation at the heart of our integration agenda, Africa can advance up the value chain to generate wealth.
- By effectively mobilizing our own resources first, driving economic transformation, and building both the required software and hardware, we can successfully integrate Africa.
Ask any traveler about their experience moving across parts of Africa, and you will likely hear about familiar challenges: high costs, indirect routes, and unpredictable schedules that can make even the simplest journeys more complicated and costly. These travel hurdles highlight the immense opportunity to further strengthen Africa’s integration and unlock seamless connectivity across the continent.
The potential is undeniable. According to the World Bank, the African Continental Free Trade Area (AfCFTA) stands to be the world’s largest free trade zone, encompassing 1.4 billion people and …
- Since 1960, more than $2.6 trillion has been pumped into Africa in the form of aid.
- From 1970 and 1998, when aid was at its peak, poverty actually rose alarmingly—from 11% to 66%—due in large part to this massive influx of foreign aid that counteracted its intended good.
- Aid decreased long-term economic growth by fuelling systemic corruption, in which powerful aid recipients funnelled foreign funds into a personal stash instead of public investment.
After President Trump announced a 90-day overseas spending freeze, Secretary of State Marco Rubio said “every dollar” must be “justified” by evidence that it makes the US safer, stronger and more prosperous. I acknowledge that stance may sound ungrateful. At first blush, many might counter that starving people have no agenda. Destitute parents still need to feed their children. Turning a blind eye to their plight is inhumane.
Let me explain why the African Energy Chamber (AEC) …
- Transition finance is funding dedicated to decarbonizing hard-to-abate and emissions-intensive sectors, such as steel and cement manufacturing.
- Companies in these sectors must prepare for an orderly transition, as failure to act will bring immense risk in a decarbonizing world economy.
- Nurturing a thriving transition finance market is critical to mitigating systemic economic and financial risks.
The transition finance market provides a unique opportunity for Africa to leapfrog to low-carbon technologies and business models, which will address climate risks and enhance the continent’s global competitiveness.
Though lacking a universal definition, transition finance refers to funding dedicated to decarbonizing hard-to-abate and emissions-intensive sectors, such as steel and cement manufacturing.
It is key to overcoming financial barriers to sustainability in the industries essential for economic development yet major contributors to greenhouse gas emissions. Companies in these sectors must prepare for an orderly transition, as failure to act will bring immense risk in a …
- WHO’s move aims to galvanize a coordinated international response to contain and mitigate the spread of mpox.
- An uptick in cases, especially in Burundi, Kenya, Uganda, and Rwanda, along with sporadic cases in Europe, prompted the WHO’s emergency declaration.
- Despite these concerns, mpox is not likely to evolve into a pandemic akin to COVID-19.
Last week, the World Health Organization (WHO) declared mpox (formerly known as monkeypox) a Public Health Emergency of International Concern. This decision underscores the escalating threat posed by the virus, which surged globally in 2022 but has since seen a troubling resurgence, particularly in Africa. The WHO’s move aims to galvanize a coordinated international response to contain and mitigate the spread of mpox, a virus with significant public health implications.
Mpox, a member of the same viral family as smallpox, is a rare but severe infection. It manifests through symptoms akin to chickenpox, including fevers, swollen …
- Existing scientific research in Africa’s renewable energy transition often overlooks certain dispatchable technologies that could enhance grid flexibility.
- Studies primarily focus on zero-carbon dispatchable technologies like concentrated solar power and geothermal, despite their limitations in efficiency, reliability, and cost.
- Balancing engine power plants, which are globally recognized for their flexibility, reliability, and cost-effectiveness, are notably absent in these analyses, despite their potential to run on clean fuels in the future.
It is no longer disputed that solar and wind power will be the foundation of Africa’s future energy systems. They are perfectly suited to the continent’s unique conditions and are already the most cost-competitive power option in almost all cases. This consensus spans academia, businesses, and policymakers who all recognize the potential of renewable energy to meet Africa’s growing needs sustainably.
They also readily acknowledge the intermittent nature of renewables, and the associated need for flexible power capacity within the …
- Creating a “greater purpose” is essential to Onafriq’s corporate culture, driving its growth and unifying Africa’s digital payments.
- Onafriq’s digital payments network connects over 1,300 cross-border payment corridors and facilitates financial access for over 500 million mobile wallets and 200 million bank accounts in 40 markets in Africa.
- Overall, Onafriq empowers small businesses and women entrepreneurs by providing access to digital payment options, asset-based financing services, and additional income opportunities.
Being deliberate about creating a “greater purpose” is essential to building an authentic corporate culture, engaging stakeholders, and navigating the evolving landscape of corporate philanthropy. This is the philosophy behind Africa’s largest digital payments network, Onafriq’s, extensive growth and vision to unify the continent’s digital payments landscape according to its General Counsel and Chief Risk Officer Funmi Dele-Giwa.
Dele-Giwa recently shared insights into the organisation’s unique position at the intersection of social impact and commercial ambition at the Women in …
- The momentum of financial inclusion programmes is progressively strengthened as financial institutions, businesses and consumers embrace cashless convenience and digital payments that are secure and seamless.
- Currently, Rwanda is a prime market for digital payments, with a young population of which 69 per cent is below the age of 30, and the second-highest population density in Africa
The momentum of financial inclusion programmes is progressively strengthened as financial institutions, businesses and consumers embrace cashless convenience and digital payments that are secure and seamless. Technology development broadens the scope of delivery of financial services, and the advantages of digital payments manifest in providing easy access to the masses, reducing travel and queuing times, quicker transactions and seamless money movements that are cashless.
Currently, Rwanda is a prime market for digital payments, with a young population of which 69 per cent is below the age of 30, and the second-highest population density …
- Half of OPEC Member Countries are African and this includes the continent’s most populous country, Nigeria, and the largest by area, Algeria.
- OPEC also counts Congo, Equatorial Guinea, Gabon and Libya as Member Countries.
- Additionally, two African countries are part of the historic ‘Declaration of Cooperation,’ between OPEC and non-OPEC producing countries, namely Sudan and South Sudan.
Since assuming the office of OPEC Secretary General almost two years ago, I have had the privilege of visiting every African OPEC Member Country, as well as several other African countries. Every visit has reaffirmed my firm conviction that the future is bright for Africa and that the oil industry can play a constructive role in that future. Our Organization stands ready to offer any support it can to help this great continent realize its awesome potential.
OPEC takes great pride in its strong and enduring African connections, heritage and identity. Half of …
