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African nations are increasingly adopting clean energy initiatives to tap into the region’s vast renewable energy potential. Despite this, the continent’s high levels of energy poverty necessitate the development of fossil fuel resources to support its economic growth. Balancing energy security, climate action and sustainable development poses a challenge for African countries, which play a crucial role in addressing global energy needs. The future of African energy lies in low-carbon technologies, requiring strategies to expand oil, gas and renewable energy production while reducing emissions. Decarbonization is crucial, but efforts to eradicate energy poverty and enhance energy security must also be prioritised through collaboration between governments and the private sector.
Gas discoveries since 2010 have driven economic growth in Africa. The major gas discoveries of Mozambique and Tanzania between 2010 and 2014 in East Africa are starting to be realised with first the liquefied natural gas being exported in 2022 from Mozambique. The oil and gas discoveries of Namibia provides significant potential for regional energy development in addition to the abundant renewable energy potential
Africa Energy, Utilities and Resources Leader, Strategy& South Africa
Tel: +27 (0) 11 797 4060
PwC Africa Oil & Gas Leader, PwC Nigeria
Tel: +234 1 271 1700