By Onome Amuge
With the African continent focusing its efforts on lifting 600 million people who currently lack access to reliable and affordable electricity and 900 million who lack access to affordable clean cooking solutions out of energy poverty, the African Energy Chamber (AEC) is set to provide an opportunity for investors to explore various initiatives via the upcoming Invest in African Energy Reception.
The AEC. renowned as the voice of the African energy sector, will on 26 January,host a special New Year reception event at the Waldorf Hilton luxury hotel in London where participants will be encouraged to explore new avenues in financing energy projects on the African continent.
In a note made available to Business a.m, the African Energy Chamber said the event will serve as the first of many of its energy receptions globally, where business leaders, investors, and government representatives will unite in London to promote mutually beneficial trade and investment partnerships under the common goal of advancing African governance while improving energy access, human rights, food and water security, and education on the continent.
The Invest in African Energy reception event is also expected to serve as the premier platform for international dignitaries, executives, and companies to participate and operate in Africa’s energy sector, where access to affordable and reliable energy will be fundamental towards development, while simultaneously showcasing the pressing need to balance all forms of energy development to ensure a just energy transition and mitigate the global energy crisis.
“During the event, investors and African energy leaders will be given a platform to discuss and support energy initiatives which include gas-to-power and renewable energy developments, as well as oil and natural gas exploration and production prospects that drive economic growth and human development across the continent,” the statement assured.
Based on its commitment to achieve a results-focused business environment for international companies and investors operating in Africa’s dynamic energy industry, the AEC’s Invest in African energy reception event will also focus on developing an oil and natural gas market in Africa to serve as the foundation of the continent’s energy industry and transition, facilitating a platform for strong domestic trading and investment while reducing barriers of entry into the sector and thus ushering a wave of opportunities for new players to participate in one of the world’s most burgeoning investment destinations.
NJ Ayuk, executive chairman of the AEC, in his remark, said African nations must focus on developing a natural gas market to serve as the foundation of the continent’s energy industry.
According to Ayuk, Africa will be unable to meet the UN’s sustainable development goals unless the continent taps into all resources available. This, he explained, is why stakeholders in the energy sector must encourage and facilitate international investment, specifically from Europe, in oil and gas in order to fairly and economically participate in the global energy transition and drive socioeconomic development throughout the continent.
