African Energy Chamber to lure billions in investments for energy

The Investment Committee of the African Energy Chamber met for the second time since their appointment mid-last year, to set an agenda that will facilitate capital raising for energy projects in Africa. The committee acknowledged the increased difficulty of raising capital for energy projects in a post Covid era. However, the committee unanimously agreed that African Energy projects remain extremely profitable, when tackled with the right investment structure. 

There is appetite for African infrastructure projects but we must think of encouraging innovation to meet multiple objectives.

Rolake Akinkugbe-Filani, Chief Commercial Officer at Mixta Africa

According to the World Economic Forum, “Africa’s urban population is expected to nearly triple by 2050, to 1.34 billion”. Consequently, there is an important need for investment in energy to cater for their needs, to facilitate the development of industry and the generation of much needed revenue and jobs.

The discussion of the Investment Committee focused on finding solutions to the current lack of investments. “The traditional way of investing is changing.” Said Nosizwe Nokwe-Macamo, Executive Chairman & Founder of Raise Africa Investments. “The African Energy Chamber must look to tap into non-traditional funding streams and look further afield than the usual geographical hotspots for investments.” She added. 

Rolake Akinkugbe-Filani, Chief Commercial Officer at Mixta Africa emphasized that “To begin with, we need to be able to articulate clearly what the need is for energy across the diverse African countries and what the different opportunities are. Where possible & appropriate, we must tap into local sources of funding as well as other largely unexplored sources of funding, such as pension funds. There is appetite for African infrastructure projects but we must think of encouraging innovation to meet multiple objectives. Developing infrastructure and traditional energy sources, while also furthering transition to renewable energy. The Chamber, its partners, members and wider network must connect opportunities to funding opportunities.”

The African Energy Chamber is calling on interested investors and project sponsors to approach the chamber and benefit from its network of partners and members to facilitate project implementation. “We will continue to build partnerships with the private sector and governments worldwide to attract critical funding to energy projects” said Samantha Raoult, Director of International relations at the chamber. 

The Chamber will identify the energy requirements across different African countries and directly approach a range of potential investors throughout the continent and worldwide to keep up with market needs. The Chamber’s activities include building bridges that brings together governments and companies in the African energy industry to find a common ground.