The African Energy Chamber (AEC), a progressive business network that promotes investment opportunities in Africa’s energy sector, is making moves to encourage partnerships with German investors. The network believes that its recent efforts will help drive development in the continent’s lucrative power industry.
The Chamber made the call at the 13th German-African Energy Forum, a high profile event that took place in Hamburg on March 27th and 28th, under the theme “Realizing & Financing Africa’s Energy Revolution”.
In a statement issued this week, the Chamber congratulated the German Government and the African-German Business Association (Afrika-Verein der deutschen Wirtschaft) on the success of the Forum.
With a strong focus on the financing of energy projects on the African continent and highlighting innovative approaches for financing off-grid projects and partnerships, the Chamber believes the time is now for Germany to compete and become an active participant in Africa’s development.
The Chamber team participated in various negotiations with German companies on energy projects that will create jobs, investments and business opportunities in Africa especially for women entrepreneurs and young people.
“Initiatives such as the German-African Energy Forum are important to create the platforms Africa needs to attract technology and capital within its energy value-chain,” said Centurion Law Group CEO and AEC Executive Chairman NJ Ayuk from Hamburg.
“Germany’s energy collaboration with Africa is key for the continent’s energy security and the development of reliable and affordable supply of power to Africans. I am sincerely happy to see a lot of good deals taking shape,” he continued.
The African Energy Chambe highlighted the role that natural gas can play for Africa’s energy industry, calling on German companies to invest in natural gas infrastructure projects in Africa such as gas-to-power, petrochemicals or fertilizers and share their expertise in that field.
“Natural gas is the future of Africa’s energy security and our move to beat the resource curse and create jobs for young people,” Ayuk explained.
“Germany, and Europe in general, has expertise in the processing of natural gas, be it producing power from methane through waste-to-power facilities, or developing the right technologies and equipment needed for the development of robust and efficient gas value-chains,” he added.
For over a decade, the German-African Energy Forum has attracted thousands of participants from over 50 countries.
The Chamber has been keen to recognize the contribution of the event to Africa’s energy dialogue and to attracting investments within the continent. The organisation will be pursuing such engagement at another event dubbed the APPO Cape VII Congress & Exhibition in Malabo, Equatorial Guinea from April 1st, 2019.