South Africa: Sahara Group Explores Collaboration on Energy in Davos | Economic news

Improving the capacity, accessibility, reliability and security of energy in all its forms has been at the heart of discussions between South Africa and the Sahara Group, a major international energy conglomerate located in South Africa. in Davos, Switzerland.

The meeting brought together South African President Cyril Ramaphosa, Energy Minister Jeff Radebe, Sahara Power Group Managing Director Kola Adesina and Director of Governance and Sustainability Pearl Uzokwe.

Both parties deplored the lack of exploitation of the continent's energy sector potential, adding that the establishment of a robust energy sector remained the most critical element of the levers that Africa needed to move forward. at the fourth industrial revolution.

The South African Minister of Energy said that a collaborative approach involving all stakeholders of the continent should be adopted and driven by a strengthened public-private partnership. "Africa's energy potential is immense and a lot is being done to exploit it. However, what we need is a well-defined mechanism that would solve the problem at the micro and macro level at the continental level through cooperation. South Africa will be willing to partner with the Sahara Group and other stakeholders to achieve this goal. "

Adesina said the Sahara Group was leading the conversation on cooperation and felt that South Africa had a lot to offer the continent as a front-line economy that continued to show strategic leadership in the energy sector.

He explained that with about 130 million African households still dependent on coal, kerosene, lanterns, candles, fossil fuels and more than half a billion Africans do not have access to electricity. With no access to electricity, the continent should declare the state of emergency on the energy sector. "Energy is a vital part of economic growth and prosperity. Africa needs a common agenda for the energy sector that takes into account the particularities of different markets along the energy value chain. Sahara Group would be delighted to partner with South Africa to carry out this agenda, alongside all stakeholders. "

Adesina added that a considerable investment in technology would be needed to expand the energy mix to include more modern renewable energy sources.

Also speaking at the hearing, Uzokwe said the continent must ensure that any energy program adopted must have strong governance and sustainability elements to ensure continuity and longevity. "Favorable legislation, environmental considerations, security and sustainable development goals must be well defined in the program. Transparency and the creation of a level playing field are also factors to consider, as we would be interested in applicability in markets with different capabilities. "

Industry experts believe that meeting current and future energy demands remains a major challenge in all African countries and that the continent's population is expected to reach 2.3 billion by 2050.