Africa faces the lowest energy access rates globally, presenting a unique challenge: building its energy infrastructure during a worldwide climate crisis for which it holds minimal responsibility. Addressing this energy shortfall requires tapping into a variety of resources, notably the continent’s rich renewable sources and natural gas, deemed the least damaging fossil fuel to the environment (Chandler, 2022).
Despite Africa’s considerable energy potential, its electricity demand remains largely unmet. The continent only utilizes a small portion of its available hydropower, wind, and solar resources. By 2050, significant growth is anticipated in the gas market. However, Africa needs an estimated $35 billion to $50 billion in energy financing to meet the United Nations’ seventh Sustainable Development Goal, which aims for affordable and clean energy access. While African governments and global financiers have made some energy investments, the continent receives less than 5% of worldwide energy investment (Moses, 2023).
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