Grace Ashiru
As the African Energy Chamber finalizes plans for a New Year’s party on January 26 in London, they are also looking for new ways to fund energy projects in Africa.
At the special New Year’s Reception at London’s Waldorf Hilton hotel, people will be encouraged to look for new ways to fund energy projects on the African continent.
During the event, investors and African energy leaders will have a chance to talk about how they can support energy projects that help the continent’s economy grow, and people get better lives.
The AEC’s Invest in African Energy Reception Event will focus on developing an African oil and natural gas market to serve as the foundation of the continent’s energy industry and transition.
This will help international companies and investors do business in Africa’s dynamic energy industry in a way that gets results—providing a platform for strong domestic trade and investment while lowering the barriers to entry into the sector. This will give new players more chances to join one of the fastest-growing investment destinations in the world.
Executive Chairman of the AEC NJ Ayuk says that African countries need to focus on building a natural gas market as the foundation of the continent’s energy industry. He also says that Africa won’t be able to meet the UN’s sustainable development goals unless it uses all of its resources.
This is why we need to encourage and help facilitate international investment, especially from Europe, in oil and gas so that Africa can reasonably and economically participate in the global energy market.
The African Energy Commission (AEC) has a big plan for the energy sector in Africa. It wants to bring together governments and reputable businesses to boost growth using international business standards and put Africa in a position to benefit from energy investment through strategic partnerships and trade.
The African continent is trying to get 600 million people who don’t have access to reliable and affordable electricity and 900 million people who don’t have access to affordable clean cooking solutions out of energy poverty. The Invest in African Energy Reception will allow investors to learn about projects such as gas-to-power and renewable energy developments and oil and natural gas exploration and production plans.
As a result of the COVID-19 pandemic and the Russian invasion of Ukraine, the demand for gas in Europe is expected to rise quickly in the coming years. This puts Africa in a good position to take advantage of its vast untapped resources and become a significant oil and natural gas supplier, ensuring global energy security while dealing with the challenges and opportunities on the continent.
The first of the AEC’s Energy Receptions will be held in London, with many investment firms focusing on Africa. Business leaders, investors, and government officials will cooperate in good faith to advance mutually beneficial trade and investment partnerships to improve African governance, human rights, food, and water security, education, and energy access.
Also, the Reception follows a partnership between the African Export-Import Bank (Afreximbank) and the continent’s biggest energy event, African Energy Week (AEW), which will happen in 2022. This move is expected to bring back a new era of signing deals, using local materials, and expanding into multiple sectors.
To end energy poverty in Africa by 2030, AEW and Afreximbank will work together to combine the power of investment and value creation. This will lead to more robust energy developments in 2022 and beyond.
The partnership also wants more investment from the UK to help with capacity building, promoting and funding African businesses, and building infrastructure in the continent’s energy sector.
The Invest in African Energy Reception Event will be the best place for international dignitaries, executives, and companies to join and work in Africa’s energy sector. Access to affordable and reliable energy will be crucial to development. It will also show how important it is to balance all types of energy development to ensure a fair energy transition and ease the global energy crisis.
The Invest in African Energy Reception Event will take place on January 26, 2023, at the Waldorf Hilton luxury hotel in London’s Aldwych. All guests are welcome to attend, but you must RSVP. Send your reply to [email protected].
