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Developing Africa's Energy Resources: Financial Innovation Is Key

15/11/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Africa needs to develop energy resources in order to meet the needs of a rapidly growing population. A development that can only be possible through innovation on several fronts. And financial innovation is essential if Africa wants to effectively develop its energy resources.

Innovations must be made in particular in the areas of technology, policy and sustainability. And funding is at the root of all of these development frontiers. According to the African Development Bank, the continent remains torn apart by energy poverty and around 640 million Africans remain without electricity. The African renewable energy sector is also a hotly contested sector, with diversified hydrocarbon companies active alongside new players and regulations often still in the development phase. But it is one of the social responsibilities of political, financial and energy leaders to manage these complexities and find the financial solutions that will unleash Africa's full energy potential

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Partnerships should be formed to build upstream infrastructure; ensure energy efficiency; negotiate compensations, community development and renewable energy components; and market the product and integrate it into the existing energy network.

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