Energy industry as bedrock of Africa’s road to recovery

African Energy producers and the governments are facing an unprecedented economic crisis due to the Coronavirus Disease, unemployment, recession, as well as energy poverty and energy transition concerns.

The African Energy Chamber’s Road to Recovery: How the African energy industry can reshape itself for a post-COVID comeback offers a commonsense strategy for the public and the private sector from leading industry experts.

It calls on all of us to take bold actions when it comes to job creation and opportunities that get people back to work, build infrastructure, capitalise on African Continental Free Trade Area and diversify our economies.

We understand that we have an obligation as an energy sector to build and support African economies that attract investment and position our continent, its people and investors for prosperity.

It’s a plan for today that provides hope for the future.

After spending a week in Mozambique, I came to believe more in this mission and what we can do to create opportunities, especially for young people. We must never waiver on our commitment to work with international partners to bolster energy security and independence matters.

Let’s face it, creating an environment that attracts investment and job creators is key to getting Africans back to work in the well-paying jobs our energy sector offers.

I love this book and its commonsense strategy because it calls on all of us to stand up for something bigger than our own personal interest. We must not be ashamed of our energy sector. The working men and women are good people and we must stand up for them and the investors. African countries must understand that to reinvigorate our energy sector and economy, we must all do a lot more when it comes to investment in infrastructure; job creation; and diversification. We must move beyond words.

Our continent needs to be competitive in the global marketplace because every continent is doing everything to attract the same investment opportunities and capital. We in Africa must stand out from the other continents – so investors will choose the African energy sector as the best place to invest.

We must also be proud of the work we have done so far and in countries like Senegal, Mozambique, Ghana and others have a good foundation, but they must build upon it and grow. The Chamber’s mandate is to work with businesses and help governments to build on existing strengths to place African countries among the most desirable places to live by creating good quality life with our vast natural resources. We can build an entrepreneurial culture that calls on young people to be go-getters rather than wait for some government bureaucrat or foreign aid worker for a handout. But we must also challenge and push governments on creating a business-friendly environment and improving a culture of good governance.

*Ayuk is Executive Chairman of the African Energy Chamber