Browsing: Green Energy in Africa

Just Green Energy Transition for Africa debate at COP 27

African countries have been at a crossroads of whether to continue adopting the green energy transition in full throttle, or tap into the myriad economic opportunities, presented by the Russian-Ukraine war.

African gas has gained prominence in the global energy market pertinently from Europe, as it seeks to wean itself off Russian gas, through its ‘REPowerEU Plan’. The Plan is targeted at saving energy, producing clean energy and diversifying energy supplies. Hence, oil and gas producing countries in Africa, have been rushing to cash in on this ‘dash for gas.’

Oil and natural gas-producing countries in Africa like Mozambique, Nigeria, Libya, Egypt, Cameroon, DRC, Angola, Namibia, Algeria, Ghana, Gabon, Mozambique and Equatorial Guinea among others; have an invaluable window of opportunity, to contribute largely to the global energy landscape. These nations have been facing the dilemma of whether to give in to pressure from the West, to switch from fossil …

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Mozambique’s BNI National Development and Investment Bank have been selected as one of theFurtherAfrica Mozambican banks to participate in a project sponsored by European Union entities aimed at supporting financial institutions in the energy sector, specifically renewable energies.

The project aims to promote local financing of the renewable energy ecosystem and is managed by the GIZ ‘Financial Systems Development’ program on behalf of GET.invest, an initiative supported by the EU, Germany, Sweden, Netherlands, and Austria. The implementation of the project is under Frankfurt base IPC GmbH.

Through technical support, the program aims to promote national private financing for different types of investments in renewable energies, supporting BNI in the development of internal capacities for the structuring of financial products suitable for the sector, transferring practical know-how in the evaluation of applications and in designing appropriate risk mitigation solutions for lending.

Also read: Mozambique: An energy investment hub


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