AEC urges Africa to redefine sustainable finance in O&G
Energy forum highlights investments in Africa
The Invest in African Energy Forum held in Paris last month highlighted some of the current investments underway across the continent including ExxonMobil’s $10 billion plans in Nigeria, to TotalEnergies’ multibillion-dollar ventures in Mozambique and Namibia, and Eni’s gas monetisation projects in Libya and the Republic of Congo.
Noting these investments, the African Energy Chamber (AEC) has emphasised the need to address barriers to further investment.
In a statement, the AEC highlighted that several energy projects remain stranded due to delayed approvals, opaque regulatory processes and high above-ground risk.
While some countries are making strides, the AEC warns that finance remains the sector’s greatest bottleneck. Rising global interest rates, tightening lending conditions and restrictive green finance taxonomies are making it harder for African governments and companies to access affordable capital.
The AEC is calling for a rethink on the definition of sustainable investment to ensure that it includes natural gas as a viable transition fuel and recognises the social dividends of energy access.
“Mobilising finance will require a coordinated effort. African governments must lead by improving credit profiles, ensuring policy consistency and creating bankable project environments.”
“Mobilising finance will require a coordinated effort. African governments must lead by improving credit profiles, ensuring policy consistency and creating bankable project environments,” says the AEC, adding that private-sector-led energy systems offer a more resilient path to investment.
The AEC’s Declaration makes clear: Africa must lead its own energy transition, and that transition must be financed on its own terms.
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