Sierra Leone’s Former Deputy Minister of Finance and Economic Development, Dr. Patricia Laverley, now Country Manager for Tanzania at the African Development Bank, has said investing in green infrastructure is the catalyst needed to propel Africa’s climate and renewable energy agenda.
Speaking on the side-lines of the 58th Annual Meetings of the AfDB: Accelerating green infrastructure in Africa, Dr. Laverley said talks are underway with the Global Climate Adaptation Center to assist with its adaptation initiatives.
Energy is the key to development in Africa and the foundation for industrialisation.
Most people in Sub-Saharan Africa face severe energy poverty. Less than half of the population had access to electricity in 2018.
Further, in terms of its size and population, Africa is well behind the rest of the world with regard to the deployment of renewable energies.
In 2018, only 20 per cent of the electricity generated in Africa was from renewable sources. Compared with the rest of the world, investment is low.
In 2019, two-thirds of all newly added energy capacity for supplying electricity worldwide was based on renewable sources.
A change of direction is needed in the energy sector. By harnessing the potential of renewable energy, Africa’s young, dynamically growing economies can ensure energy supply is generated in line with international climate goals.
Green energy is the answer to the challenges of climate change and a critical step for reaching climate neutrality. Without the global transformation of the energy sector, it will be impossible to achieve the 1.5-degree target of the Paris Agreement.
The prerequisites for the transformation of the African energy sectors are in place. Crucial factors, in addition to know-how and technology, are the political and regulatory environment.
Technology solutions are abundant, cost competitive with fossil fuels, and are ready to be deployed. The necessary elements, such as stable energy systems, reliable regulatory and financial policy frameworks, ambitious policy goals and appropriate markets, including regional ones, are increasingly available or can be realised.
