Africa must keep its lights on and plan its own energy transition, speakers at Africa Oil Week said as they discuss investing in Africa’s energy.
He said developing Africa’s oil and gas resources must be an element of Africa’s energy transition. “Mineral resources are the currency that drives economic growth. Any conversation about developing Africa’s resources must come from the perspective of African nations for their own benefit. We must work to build synergies across our economy to address the stubborn poverty we see in our nations.”
He said larger economies were still commissioning dozens of coal-fired power stations every year, even while they embarked on an energy transition. “We cannot be told how to develop. Africa’s growth must be organic, original and African. We need to share ideas and engage on how to embrace the opportunities on the continent,” he said.
“By competing with each other, African nations become caught in a race to the bottom. We must break out of this pattern. Development is not a beauty contest. We must not compete. We must complement each other,” one of the keynote speakers said.