The African Energy Chamber (AEC) is set to host the Invest in African Energy Reception at Frankfurter Botschaft in Germany on February 23, 2023.
It will be showcasing investment opportunities across Africa’s burgeoning energy sector at the next leg on the organization’s European investment tour, according to the organizers. Following successful Invest in African Energy Receptions held in London and Oslo in January 2023, in partnership with global energy market research firm, Rystad Energy, and leading pan-African financial services provider, the African Export-Import Bank (Afreximbank), the AEC’s German leg of the Invest in African Energy European Roadshow aims to maximize energy investment partnerships between Africa and Europe’s largest economy.
Featuring German, European and global investors, private and public sector institutions, African energy policymakers and companies as well as stakeholders across both the German and African energy value chains, the Invest in African Energy Frankfurt event will highlight energy investment, economic growth, energy resilience and environmental sustainability prospects for both Germany and Africa on the back of improved energy development, exploitation and trade ties.
With over 600 million people across the African continent lacking access to reliable electricity and 900 million to clean cooking solutions, the continent’s estimated 125.3 billion barrels of crude oil, 620 trillion cubic feet of gas and untapped renewables potential present a huge opportunity to alleviate energy poverty. In this scenario, Germany represents an ideal partner for the continent as it moves to maximize energy investments and make energy poverty history by 2030.
At the same time, with Germany optimizing the diversification of its energy supply away from Russia due to the Russian-Ukraine war, Africa represents a perfect partner to drive the country’s energy market stability.
While the demand for gas via liquefied natural gas continues to increase and take on a sizable share of the global energy mix, Africa is expanding its share of global gas supply. With Africa requiring up to $1.7 trillion in the upstream gas sector to increase its gas production as the continent’s role in shaping global energy security intensifies through 2050, Germany has a key role to play in helping the continent maximize and monetize resources. African countries such as Senegal, Mauritania, Algeria, Tunisia, Mozambique, Republic of Congo, Namibia and Angola are well positioned to supply Germany, and the Invest in African Energy Frankfurt event represents an ideal platform for Germany to enhance energy ties with Africa and secure its energy future.
“Hydrogen projects have been on the platform of all Germany Africa energy investments. Natural gas has seen new interest from Germany. Germany’s launch of two LNG import facilities within 12 months highlights the country’s commitment to securing its energy supply via gas and LNG. Africa is well positioned to be the country’s number one supplier and the Invest in African Energy Frankfurt event represents the ideal platform where improved Germany-African energy ties can be turned into reality,” stated NJ Ayuk, the Executive Chairman of the AEC.
Furthermore, while Africa is positioning itself as a global leader in green hydrogen on the back of the continent’s massive gas and renewable energy resources, with countries such as Angola, Namibia, South Africa, Mauritania and Egypt spearheading industry growth, the recent trip to South Africa and Namibia by German Economy Minister, Robert Habeck, in search of hydrogen to ensure energy security highlights the vital role African energy can play in shaping the energy transition and strengthening Germany’s energy security.
In this regard, the AEC, through the Invest in African Energy Frankfurt event, is committed to heightening German energy investments in Africa to accelerate the continent’s build-up of infrastructure across the entire green hydrogen value chain. This will in turn provide a win-win situation for both Germany and Africa as both parties seek energy market stability, economic expansion, environmental sustainability and GDP growth.
“The Chamber is honored to expand its Invest in African Energy European Roadshow to Germany where we seek to unite African and German energy stakeholders. German companies have the technology and expertise which Africa needs to maximize its global energy leadership role and we hope platforms such as the Invest in African Energy will foster a new era of improved cooperation between the country and the African continent ahead of the 2023 edition of African Energy Week this October, where more industry changing deals will be signed and partnerships formed,” added NJ Ayuk.