AFDB emphasizes African Oil, Gas and Finance for Energy Transition at African Energy Week in Cape Town

African Energy Week (AEW) 2021 taking place in Cape Town on the 9th-12th of November has placed making energy poverty history by 2030 a top priority. In line with this objective, the African Energy Chamber (EnergyChamber.org) is excited to announce that Dr. Arron Tchouka Singhe, Chief Oil Sector Officer at the African Development Bank (AfDB) has been confirmed as a speaker at AEW 2021 in Cape Town. Dr. Singhe’s participation at Africa’s premier energy event will emphasize the role of multilateral financing institutions and the oil and gas industry in Africa’s energy sector, promoting critical investment that will drive Africa’s energy future in light of phasing out oil and gas production and utilization in African countries

The AfDB represents the largest multilateral financing institution in Africa, providing critical finance to African governments and private companies investing in the continent. With a core mission to reduce poverty, improve living conditions for Africans, and mobilize resources for the continent’s economic and social development, the bank has played a pivotal role in driving Africa’s energy sector growth and development.

The Bank is focused on driving investment in African markets, and aims to stimulate and mobilize internal and external resources to do so, providing its member countries with critical financial assistance. To date, the AfDB has an active portfolio of energy projects totaling $12 billion across the continent. By providing policy advice, technical assistance, and mobilizing and allocating resources for investment in Africa, the Bank is not only supporting development efforts, but is driving growth across the continent, and Dr. Singhe will emphasize this in Cape Town.

As Chief Oil Sector Officer at the AfDB, Dr. Singhe is responsible for coordinating the Bank’s activities in the oil sector. Accordingly, at AEW 2021 in Cape Town, Dr. Singhe will be instrumental in driving a strong African energy transition narrative, offering valuable insights regarding the exploitation and phase out of oil and gas resources with well-tailored integrated energy strategies and integrated natural resources management strategies. By connecting with stakeholders and offering a dialogue on local content and domestic linkages, flare elimination and gas utilization and monetization, low carbon pathways for the oil and gas industry, and strategies for economic diversification driven by oil and gas, Dr. Singhe will heavily promote sustainable investment in Africa. With the aim to accelerate investment and associated socio-economic development, Dr. Singhe will provide critical strategies to ensure the continent is competitive for the right investment to eliminate energy poverty in the continent while fairly contributing to the global efforts to net zero carbon emission.

“African countries can leverage their significant oil and gas resources to drive socio-economic growth across the continent in agreement with the Paris Accords, and institutions such as the AfDB may be instrumental in making this happen. AEW 2021 aims to emphasize the role of multilateral financial institutions in driving Africa’s energy success, and participation by Dr Singhe will further this agenda. The AfDB has played a valuable role in Africa’s energy sector and AEW 2021 will offer the opportunity for African stakeholders to directly engage with this financial powerhouse,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

With making energy poverty history by 2030 a major theme at AEW 2021 in Cape Town, participation by Dr Singhe will be crucial in attaining this goal. By offering a wealth of knowledge including sustainable investment solutions and key opportunities in African sectors, and promoting the role of financial institutions in accelerating Africa’s energy growth, the AfDB has always been fundamental in promoting investment in Africa.

Source: African Energy Chamber