The Secretary-General of the African Continental Free Trade Area (AfCFTA), His Excellency Wamkele Mene, has said Africa will require as much as $100 billion to fast-track the development of renewable energy and expand electricity access across the continent.
He noted that although Africa possesses 60% of the world’s renewable energy resources, it still lacks the necessary capital to fully harness these resources to transform its energy and industrial sectors.
H.E. Mene made these remarks while delivering the opening keynote address on the theme “Energy and Sustainable Forum” during the final day of the 2025 Africa Oil Week (AOW) on Thursday, September 18, 2025, in Accra.
As the champion of AfCFTA, he highlighted that 49 out of Africa’s 54 countries have ratified the agreement to undertake intra-African trade activities. This, he said, provides an opportunity to leverage the continent’s vast population to drive investment in energy development and industrial growth.
According to him, if Africa can tap into its abundant solar, geothermal, and other renewable resources, the continent could soon close the wide electricity gap that continues to hinder its people.
The AfCFTA boss lamented that Africa still imports finished products, energy experts, and other commodities in this century.
He urged African leaders, business drivers, and the few experts in the energy sector to design a practical action plan to transform the sector in the foreseeable future.
The theme for Africa Oil Week (AOW) 2025 in Ghana is “Sustainable Energy Transition and Investment in African Resources.” The event focuses on co-creating Africa’s energy future—particularly its gas resources—through partnerships, deal-making, innovation, and strong governance.
The gathering has brought together key stakeholders in oil and gas to bridge gaps between governments, the private sector, and investors, with the goal of shaping the future of Africa’s energy landscape. Discussions also addressed the complexities of the energy transition, including carbon management and energy access.
Source: https://energynewsafrica.com
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