Africa will need approximately N$22.6 trillion (US$1.3 trillion) to transition from non-renewable to renewable energy.
International Renewable Energy Agency (Irena) director general Francesco La Camera said this during a press briefing on the sidelines of
Accelerated Partnership for Renewables Africa (Apra) investment forum in Nairobi, Kenya, on Monday.
“Africa will need about US$1.3 trillion for the renewable energy transition, however, the industry has the potential to create more than 5.2 million jobs in Africa between 2019 and 2030,” said La Camera.
Irena acts as a secretariat for Apra.
Speaking at the Apra investment forum, Kenya’s cabinet secretary in the ministry of petroleum and energy James Wandayi said less than 2% of global renewable energy is produced in Africa. Moreover, Africa only holds 3% of global renewable energy jobs.
“If properly harnessed, renewable energy can create jobs and improve the livelihoods of many,” said Wandayi.
However, he highlighted that Africa’s energy transition will only be possible with private investments.
Currently, African Apra member countries include Kenya, Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone and Zimbabwe.
In addition, Denmark, Germany, the United Arabs Emirates and the United States are partner countries.
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