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[Replay] RENdez-vous Africa — Taking charge : Mobilizing African money to accelerate renewable energy uptake on the continent
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[Replay] RENdez-vous Africa — Taking charge : Mobilizing African money to accelerate renewable energy uptake on the continent
Africa has a huge untappted potential to improve its energy efficiency and renewable energy uptake, but investments until now have not been efficiently implemented. How can we collectively mobilise African money to accelerate renewable energy uptake on the continent?
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Africa is at a defining moment of her history: the continent has an urgent need to deliver on economic development and climate commitments, both of which require sustainable renewable energy to succeed.
Substantial investment is also needed. According to IRENA, Africa requires an annual investment of about 70 billion USD in renewable energy projects until 2030 for the energy transformation to happen. However, over the last 20 years, only 2% of the 3 trillion USD invested globally in renewables has been in Africa. Most of the investment comes from outside the continent, making it a “hostage” to unmet commitments.
But Africa has huge untapped potential : its people, its local capital markets and the growing African Continental Free Trade Agreement (AfCFTA) that supports (...)
