NJ Ayuk, executive chairman of the African Energy Chamber (AEC), has called for greater utilization of African financial solutions to address the continent’s $15.7 billion infrastructure deficit. With these sources of capital, he said the continent stands to maximize the production, processing and distribution of local oil and gas resources amid efforts to make energy poverty history by 2030.
Speaking during a recent event organized by the African Refiners & Distributors Association (ARDA) in Cape Town, Ayuk proposed tapping into the $400 billion available through Africa’s pension funds to support oil and gas projects. With this capital, Africa could advance key infrastructure projects, such as pipelines, refining facilities and power generation, ensuring enhanced intra-Africa energy trade to address energy poverty.
With more than 600 million Africans living without access to modern energy and 900 million people living without access to clean cooking solutions,
