 
							
			
			
			
		 Thursday, 30 September 2021 17:54
	  		Thursday, 30 September 2021 17:54	  	
	  	
	  	
	  		  	     
        
	  In its recent new white paper, the World Economic Forum (WEF) highlights the importance of directing current and future funding to cleaner energy solutions. The paper was written in collaboration with Deloitte.
The “Financing the Future of Energy” report identifies financing options to accelerate Africa's energy transition and reduce carbon emissions. “The entire continent remains vulnerable, but this White Paper offers a view on what are viable financing options that exist today for clean energy sustainability and equitable recovery for all of Africa," said Chido Munyati, Head of Africa at WEF.
The transition to a net zero-carbon electricity grid will be supported by a "3Ds" concept (decarbonization, decentralization, and digitalization) the report said. Decarbonization will enable the continent to shift from fossil fuel sources to renewable energy. Decentralization is the shift from centralized management of generation, transmission, and distribution to decentralized systems. Digitalization suggests leveraging digital technology to advance the transition.
Mario Fernandes, Deloitte's director of public power and renewable energy in Africa, believes that financing will be the biggest obstacle to Africa's sustainable transition to large-scale renewables. “There are many financing solutions available. Africa’s winners will be those that can leverage what exists while creating an enabling environment for the private sector through a renewable energy investment facility,” he said.
Currently, half of the continent does not have access to reliable electricity. The report explained that as energy demand increases, the gap could be filled by clean energy alternatives. The potential to accelerate the transition to a net-zero future is therefore significant.
Gwladys Johnson Akinocho
 06:10
                06:10
                             06:02
                06:02
                             03:35
                03:35
                             03:10
                03:10
                             19:54
                19:54
                             19:51
                19:51
                             19:49
                19:49
                             19:46
                19:46
                             19:43
                19:43
                             19:30
                19:30
                            Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...
 
        Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...
 
        Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...
 
        ECOWAS will integrate AI into its early warning systems to strengthen crime prevention and intelli...
 
        With its presidential election set for tomorrow, October 25th, Côte d’Ivoire is entering a decisive ...
 
        Nigeria signed a $400 million agreement with China’s Stellar Steel to build a 10-million-ton integrated steel plant in Ogun State. The project...
Ivanhoe Mines will begin a 6,400-meter diamond drilling campaign in Angola’s Moxico and Cuando Cubango provinces in Q4 2025. The program covers a...
Mozambique launched "Big Data in Telecommunications" platform to send geo-located SMS and voice alerts during natural disasters. System enables...
Indian bottler VBL signs exclusive deal to test Carlsberg sales in Africa Move aims to diversify beyond soft drinks into the growing alcohol...
The Eyo Festival, also known as the Adamu Orisha Play, stands among the most iconic cultural events in Lagos, Nigeria. This traditional Yoruba procession,...
Asmara, the capital of Eritrea, is often described as Africa’s modern city for its remarkable architectural heritage and forward-thinking urban design....