ADDIS ABABA-Energy development in Africa requires an active participation of the private sector and governments’ collective actions.
The suggestions were highlighted at the 3rd African Business Forum held yesterday under the theme “Investing in people, Planet and Prosperity”. Around 590 million Africans remain without power while the demand for energy surges at alarming rate, it was disclosed.
However, few countries like Ethiopia, Kenya and Ghana, among others have made significant change in electrification in recent years. Enhancing cooperation among countries, putting in place sound energy policies and mobilizing the required resources were described as solutions to African energy problems by panelists who have presented their insights on the link between Africa’s energy industry and private sector.
The panelists include Zimbabwean President Emmerson Mnangagwa, Mozambique Prime Minister, Executive Secretary of the ECA Vera Songwe and Scott Mather, Pacific Investment Management Company (PIMCO) Chief Investment Officer.
Fast-tracking policy and regulatory reforms and pushing for sustainable investments were mentioned as urgent requirements to unlock Africa’s clean energy potential for sustainable development on the continent.
The Ethiopian Herald February 12/2020
BY BETHELEM BEDILU
