Afican's Energy Transition Requires $100 Billion

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Since Africa's energy transition would require an estimated $100 billion yearly between 2022 and 2040, A call has gone to African leaders and investors to shift focus towards harnessing the continent of energy sources.

This was the thrust of the African Development Bank (AfDB). According to the Group President, Dr. Akinwunmi Adesina, while addressing participants at the recently concluded Ninth Berlin Energy Transition Dialogue, hosted by the German Government.

According to The African Development Bank(AFDB), helmsmen, there was an urgent need to reduce the world’s dependence on fossil fuels and harness Africa’s renewable energy sources. While underscoring Africa’s success and enormous potential to become a global leader in sustainable development, Akinwunmi did not fail to note the significant energy challenges confronting the African continent.

 Akinwunmi Adeshina, Sighting a reviewed 2022 report, said at least 600 million people did not have access to electricity, while 970 million people lacked access to clean energy for cooking.

Adeshina warned that for Africa to achieve the United Nations Sustainable Development Goal (SDG), seven of affordable, reliable, sustainable, and modern energy for all, Africa must connect 90 million people yearly to electricity by 2030. Besides, the continent must also remove 130 million people from dirty cooking fuels yearly.

Akinwunmi Adeshina said that Africa’s significant cobalt, manganese, and platinum reserves could be utilized to build a robust manufacturing sector rather than being merely exported as raw materials. Alluding to Europe’s push for emissions-free vehicles, he said: “Africa is a crucial source for minerals and metals for clean energy value chains, including electric vehicles and utility-scale battery storage. Africa is the perfect place to build lithium-ion batteries to power German cars.

AFDB was spearheading efforts to unlock Africa’s vast renewable energy potential, with 86 percent of its power generation investments in renewables and a ban on coal energy projects.

He also insisted that natural gas should be crucial to Africa’s diversified energy mix to guarantee a secure energy supply for industries and residences.


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