FINANCING THE TRANSITION

In June 2022, the African Union convened transport and energy ministers to adopt the African Common Position on Energy Access and Transition, which ment.

$90bn a year in Africa. This funding barrier that deters investment. hinder them from raising necessary resources on domestic markets. ating the energy transition toward partnership with the private sector, and

This is an ambitious target, not made easier by the fact that costs are Scaling

Up to Phase Down report, issued in the country’s power sector transition is estimated at $2.6bn through 2030, continent. such as pension funds and insurance

$22tn in outstanding debt issuances by ment environment. Through these ments to Africa’s energy transition. In ing capacity and avoid 3.6m tonnes of ambitions to oversee the aggregation of mitigate risks. for the private sector to increase its Arabia’s ACWA Power announced the in Egypt. investment across South Africa.

However, in some of the region’s environment impact. ca’s energy transition. In March 2023, in the Norwegian krone market. The funds raised through this transaction transition to green growth. providing support for governments and optimising risk mitigation to and Namibia.

Africa’s energy transition. With more mechanisms reaching the market, the chances of meeting ambitious targets set for the sector are getting higher by the minute.