African leaders address Energy crisis at WEF
African leaders discussed how to tackle the continent’s energy crisis at the recent Word Economic Forum (WEF) on Africa in Cape Town.
Last year, at the 2014 WEF meeting in Davos, Switzerland, African leaders – in particular, ministers of power and finance – recognised the importance of energy in driving socioeconomic development. They thus committed to prioritise the implementation of energy infrastructure projects on the continent and to develop an African vision on energy accessibility by 2040.
The vision called “Africa Power Vision” (APV) provides a framework for the development and prioritisation of key energy infrastructure projects across Africa.
Developed by the African Union Commission (AUC), the NEPAD Agency, the Federal Ministry of Finance, Nigeria, the Economic Commission for Africa (UNECA) and the African Development Bank (AfDB), APV is consistent with Africa’s Agenda 2063. It is also based on the Programme for Infrastructure Development in Africa (PIDA) and targets priority energy projects in Africa with the aim of advancing its implementation.
Recently, the NEPAD Agency, supported by Power Africa, refined the list of priority APV projects and the associated pillars that form the bedrock of the Vision. This APV Concept Note and Implementation Plan was presented and endorsed by the Heads of State and Governments Orientation Committee (HSGOC) in Addis Ababa in January 2015, during which the NEPAD Agency was tasked with its implementation.
To identify challenges and bottlenecks in energy project implementation on the continent, the NEPAD Agency, through the support of USAID and the PowerAfrica Senior Advisory Group, organised a side event at the WEF in Cape Town.
The meeting gathered leading private sector and energy leaders in Africa. The construction of a transmission line that will connect the Zambian grid to Kenya, via Tanzania, covering a distance of 2,200 km, was discussed. The project is of particular importance to Africa and its regional integration policy as it will link two economic communities, namely SADC and EAC facilitating the creation of regional energy market and cross border trade, Dr Ibrahim Mayaki, CEO of the NEPAD Agency said.
Specific recommendations were made to advance the project implementation particularly on the Tanzanian Zambian side which in the NEPAD Agency took note of for follow up action. In addition to the project presentation, three high level round tables were formed to discuss how to advance APV projects to bankability, how to enhance collective planning of power projects and how to secure private sector investment.