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Africa-Europe Alliance: boosting sustainable energy investments in Africa

Video guest: Josephine Mwangi

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Friday, 09 November 2018

Africa-Europe Alliance: boosting sustainable energy investments in Africa

A new high-level platform initiative brings together key players in the sustainable energy sector from the public and private sectors of both Europe and Africa. Today at the Africa Investment Forum in Johannesburg organised by the African Development Bank, the European Union and the African Union have launched the EU-Africa high-level platform on sustainable energy investments in Africa. During his State of the Union speech President Juncker has announced the new 'Africa – Europe Alliance for Sustainable Investment and Jobs' to substantially boost investment in Africa, strengthen trade, create jobs, and invest in education and skills. The high-level platform that was set in motion today represents a concrete action under this alliance to boost strategic investments and strengthen the role of the private sector. Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska, said in Johannesburg: "If we are serious about sustainable energy investments in Africa, we need everybody on board, including the private sector. The high-level platform will pave the way for that: experts from the public, private, academic and financial sectors will jointly discuss challenges and barriers to sustainable investment in this area and help to address them.” The High Level Platform brings together public, private and financial operators as well as academia from Africa and Europe. They will examine challenges and strategic interests that could accelerate impact, especially for sustainable growth and jobs. The high-level platform aims to attract and boost responsible and sustainable private investments towards sustainable energy in Africa. A concrete outcome of the high-level platform launch event was the announcement of three streams of work, 1) identify energy investments with high impact for growth and job creation, 2) analyse energy investment risks and propose policy guidelines for a sustainable investment and business environment and 3) boost exchanges between African and European private sector.

Source: europa.eu