Streaming issues? Report here
EWN logo BW July 2020 EWN logo BW July 2020
Inside EWN
19:00 - 21:00
volume_up
volume_mute

Up Next: Best of CapeTalk
See full line-up
Inside EWN
19:00 - 21:00
Home
arrow_forward
Absa Insights 2021

Can Africa capitalise on its renewable resources to avoid an energy crisis?

* 12 November 2021 3:07 PM
Tags:
Renewable energy
Absa identity change
absa insights
SA energy crisis
absa insights 2021
Bruce Whifield

Africa has an abundance of minerals and alternative energy resources spread across the continent, but are they being extracted and used as efficiently as possible?

The world is ever-changing and, so is the sector your business operates in. You don’t just need data to keep track of trends that are shaping the economy – you need the expertise to turn that data into valuable insights and sustainable growth opportunities that will unlock your business’ potential.

In the Absa Insights podcast series, The Money Show’s Bruce Whitfield engages in conversation with the bank's sector experts about investment possibilities in Agriculture, Consumer Goods and Services, Enterprise Supply Development and Telecommunications, Healthcare, and Natural Resources and Energy.

Listen to the audio below:

The demand for renewable energy is on the rise, especially in Africa, a continent rich in minerals that can be used to generate new greener energy solutions. This, if done correctly, could create new employment opportunities, eliminate power supply issues and contribute to the global movement to get carbon emissions to net zero by the year 2050.

Following the news of China’s recent electricity crisis, the rest of the world is on high alert regarding energy security. Extreme weather put a damper on China’s transition to greener energy sources, and the country still relies heavily on coal. This urges other countries to think carefully about the pacing of their energy transition. In South America, Chile’s record-breaking ongoing drought clearly depicts the impact of global warming. According to the latest IPCC report, these extreme conditions (droughts and downpours) are predicted to be more frequent, and humans are to blame through the emission of greenhouse gases.

But what about Africa? Should we expect a crisis like this in the next few years? Or will we somehow make use of our abundance in resources to combat energy poverty? Tawanda Madondo, Absa’s Senior Coverage Banker for Resources & Energy thinks that leaning into the ESG theme could provide countries with investment and employment opportunities for future generations. He also mentions the positive movements in the mining space taking place in the West African regions.

I think in the last couple of years, places like Ghana and the whole West African region really set themselves apart in terms of legislation, policies to entice investment to come into that region. What we’re generally seeing is that a large part of the new projects, the new developments are actually happening out there in the West African region which is very positive for me.

Tawanda Madondo, Absa’s Senior Coverage Banker for Resources & Energy

We’ve also seen Tesla’s company valuation rise to over a trillion dollars in only 18 years - historically, the shortest period of time that this has ever been done. Will this motivate the next Elon Musk to make Africa a green energy empire?

For data-driven insights that match foresight with sustainable possibilities, re-visit our Absa Insights page regularly to listen to thought-provoking conversations with Absa Corporate and Investment Banking sector experts in the Absa Insights podcast series.


This article first appeared on 702 : Can Africa capitalise on its renewable resources to avoid an energy crisis?




* 12 November 2021 3:07 PM
Tags:
Renewable energy
Absa identity change
absa insights
SA energy crisis
absa insights 2021
Bruce Whifield

More from Absa Insights 2021