PAST EVENTS OF THE
AFRICAN BUSINESS ENERGY SERIES

Webinar 3: Year in Review

“In 2025, we will see a broadening of the ecosystem around renewable energy with greater localization as an inevitable risk management strategy.”

- Rolake Akinkugbe-Filani, Non-Executive Director & Member, Investment Committee, ALL ON

The year 2024 has been significant for Africa's energy sector, marked by events such as the launch of the African Energy Bank by Afreximbank and APPO, Angola's departure from OPEC, the commissioning of Nigeria's Dangote refinery, among other initiatives and agreements that have emerged. However, despite these advancements, a significant portion of Africa's population continues to face poor access to reliable and affordable energy, and these challenges need to be addressed.

The third edition of the African Business Energy Series put into context some of the key events that have shaped Africa's energy sector over the past year and discussed the sector challenges and opportunities for the year to come. 

The webinar started with a presentation by Ben Payton, energy & infrastructure correspondent for African Business, on the main investment flows into the African energy sector in 2024, followed by a keynote fireside chat with H.E. Macky Sall, 4th President of Senegal and Chair of the Macky Sall Foundation P2D, led by Omar Ben Yedder, Managing Director of African Business.

A panel of experts explored further critical issues and opportunities in Africa's energy sector in 2025. They included Dr. Daniel-Alexander Schroth, Director for Renewable Energy and Energy Efficiency, AfDB; Cheikh-Omar Diallo, Leader Task Force Communication Engagement, TotalEnergies EP Africa; Rolake Akinkugbe-Filani, Non-Executive Director & Member, Investment Committee, ALL ON. The discussion was moderated by David Thomas, editor of African Business.

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Webinar 2: Oil & Gas in Africa

“By stepping in, we want to ensure that the critical oil and gas infrastructure projects continue to receive funding, particularly in countries that depend on these resources for their growth, energy security and development.”

- Dr. Yemi Kale, Group Chief Economist, Afreximbank

The global oil and gas market is evolving, driven by climate and other considerations. However, Africa’s hydrocarbon sector remains crucial to several countries, some of whom are only just becoming players.

For some, it is a major contributor to gross domestic product as well as government revenues, supporting key sectors like health, education and infrastructure. At the micro level, natural gas is increasingly used for electricity and cooking, offering a cleaner alternative to coal, for example. For governments and investors, this presents some difficult choices, as they try to balance economic benefits against climate change obligations and environmental, social, and governance (ESG) commitments.

In the second African Business Energy Series webinar, experts and players in the sector assessed this and other factors relevant to the future of oil and gas in the continent. They included Her Excellency Linda Scott, High Commissioner and Ambassador of Namibia to the UK, Malta, Greece and Ireland; Dr. Yemi Kale, group chief economist and managing director at African Export-Import Bank; Pedro Omontuemhen, partner and Africa oil and gas leader at PwC and Mike Sangster, senior vice president for Africa at TotalEnergies. The discussion was moderated by David Thomas, editor of African Business.

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Webinar 1: Energy Transition in Africa

“Africa has a central role to play in helping the world achieve its net zero ambitions. The modelling we have done shows that without Africa, the world will not be able to get to a 2 degree pathway.”

-Adam Kendal, partner at McKinsey

Political and business leaders across Africa have declared themselves ready to leverage the continent’s resources to boost energy access and facilitate green growth. However, this transition also presents challenges, including the need for substantial investment, infrastructure development, and ensuring equitable access to energy for all populations.

In the July edition of its Energy Series, African Business convened a panel of experts to discuss how African countries can navigate the challenges and take full advantage of the opportunities presented by the transition. The panel included Amb. John Leonard Mugerwa, Uganda’s deputy high commissioner to the United Kingdom; Caroline Kende-Robb, senior director of strategy and operational policies at the African Development Bank; Mike Sangster, senior vice president for Africa at TotalEnergies; Fola Fagbule, deputy director and head of financial advisory at the Africa Finance Corporation (AFC); and Adam Kendall, a partner at consultancy McKinsey and head of sustainability practices in Africa. The discussion was moderated by Hannah Ryder, chief executive officer and founder of Development Reimagined.

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