Green Energy in Africa: Exploring Pathways for a Sustainable Energy Transition

Welcome to your May edition of the Africa Bulletin.

This month, we shine a spotlight on Africa's green energy and how the continent is using it to create pathways for its sustainable energy transition ahead of the Africa Energy Forum. With its rapidly growing population, Africa is poised to double by 2050, reaching over two billion people. This surge in population will be met by the demand for cost-efficient and reliable energy, a crucial factor in powering the continent’s socioeconomic development. To meet this energy demand sustainably, Africa must harness its abundant renewable energy resources, which not only bridge the energy gap but also pave the way for the continent to achieve its climate goals, inspiring a future of sustainable development.

Across the region, we recently announced the appointment of Chris Diaz as Executive Chairman of Adili Group and Director of Growth and New Markets for ALN Kenya and ALN Tanzania. With over 30 years of executive experience and a proven track record of business acumen, Chris will play a pivotal role in driving pan-African growth, elevating strategic vision, and enhancing client impact.

Our lens also spans major African business headlines impacting the region and the globe at large. These stories combine with comprehensive reports centered on Africa's energy transition, private wealth, digital opportunities and investing in a just and sustainable transition.

As always, we've curated news stories to navigate you through today's business environment, offering a global perspective on the legal issues relevant to your industry.

We are ALN. One region, One vision, One ALN.

Top Story

With its rapidly growing population, Africa is poised to double by 2050, reaching over two billion people. This surge in population will be met by the demand for cost-efficient and reliable energy, a crucial factor in powering the continent’s socioeconomic development. To meet this energy demand sustainably, Africa must harness its abundant renewable energy resources, which not only bridge the energy gap but also pave the way for the continent to achieve its climate goals, inspiring a future of sustainable development.

By focusing on renewable energy African nations have a unique opportunity to leapfrog dependence on traditional fossil fuel-based development. For businesses and investors seeking to be at the forefront of this energy revolution, Africa’s emerging renewable energy sector presents both a strategic opportunity and a pathway to meaningful impact. Many countries are at a...Read more.

Stories That Matter

1. World | Private Sector Pumps USD 86 Billion into Infrastructure in Low - to Middle-Income Nations - New World Bank data finds that private infrastructure investment in low- and middle-income countries totalled USD 86 billion in 2023. Investments declined 5 percent compared...Read more.
2. Africa | AfDB Commits USD 2 Billion for Clean Cooking Access in Africa -Multilateral development financing institution the African Development Bank is providing USD 2 billion towards the adoption of clean cooking solutions in Africa over the next ten years. Aiming to achieve...Read more.
3. East Africa | Four EAC Partners Join Kenya-Uganda SGR Project Four East African Community member states recently joined the Kenya and Uganda joint project to develop a modern railway on the Northern Corridor. However, the lack of funds haunts the joint standard...Read more
4. East Africa | EAC Trade with Africa Sees Significant Rise - Trade within the East African Community has significantly increased at the expense of trade with markets outside the continent. The EAC has also increased its trade with African countries outside its sub-region. This results from...Read more
5. Egypt | Egypt Signs Deal for 8 GW Wind Farm Projects in West Sohag - Egypt recently signed land allocation documents for two wind energy projects in the West Sohag region. The two wind energy projects are set to have a combined capacity of 8 gigawatts, with foreign direct...Read more
6. Ghana | Ghana to Become Africa’s First Blockchain-Powered Government - Ghana has recently announced its ambitious plan to establish itself as the first blockchain-powered government in Africa, leveraging technology to combat corruption. The technology’s automation features...Read more
7. Nigeria | Nigeria Ramps Up Bid to Host USD 5 Billion First African Energy Bank - The federal government has ramped up its bid to host the first energy bank in Africa, the African Energy Bank, with President Bola approving USD 100 million as share of the initial equity...Read more
8. Uganda | Uganda in Talks with IAEA to Develop Nuclear Plant - Uganda and the International Atomic Energy Agency (IAEA) recently started the second review in two years of the country’s uranium programme, which is expected to give way to the exploration phase and nuclear...Read more

Reports

The Energy Transition in Africa: Opportunities for International Collaboration | IRENA

Africa stands at a crucial crossroads in its developmental trajectory, and energy plays a pivotal role in shaping its future.  This report identifies priority areas for potential collaboration between the G7 and Africa, including increasing investment in infrastructure and enabling access to finance, expanding energy access and supporting the productive use of energy, effectively managing critical minerals for the energy transition, and strengthening institutional frameworks and capacity.

Click here to download and read the report. 

The Africa Wealth Report 2024 | Henley & Partners

The growth story is promising, with Africa’s millionaire population set to rise 65 percent in the next decade, fueled by strong growth in key sectors. The Africa Wealth Report is the definitive guide to Africa’s wealth and luxury sector. It comprehensively reviews the continent’s wealthiest countries and cities and gives expert insights on economic mobility, the investment migration sector, and wealth management.

Click here to download and read the report. 

Digital Opportunities in African Businesses | World Bank

Africa has already benefited from rapid information and communications technology diffusion, characterised by the widespread adoption of mobile phones. Consequently, African businesses may need to be reaping the full potential benefits offered by ongoing improvements in digital infrastructure. This report analyses the opportunities for businesses across Africa to increase the productive use of digital technologies. Building on ongoing research initiatives, it provides a novel analysis of the extent of digitalisation across businesses. 

Click here to download and read the report. 

Economic Report on Africa 2024: Investing in a Just and Sustainable Transition in Africa | UNECA

Africa faces persistent hurdles to its inclusive and sustainable development. Despite several pockets of excellence in the continent’s progress towards the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063, the number of SDG targets that require acceleration or reversal exceeds those on course. The report aims to contextualise and conceptualise the imperative for a just and sustainable transition for Africa to achieve its economic, social, and environmental priorities.

Click here to download and read the report. 

ALN Across The Region

ALN Kenya and ALN Tanzania and Adili Group recently announced the appointment of Chris Diaz as Executive Chairman of Adili Group and Director of Growth and New Markets for the Firms. With over 30 years of executive experience and a proven track record of business acumen, Chris will play a pivotal role in driving pan-African growth, elevating strategic vision, and enhancing client impact.

Chris brings a wealth of expertise in business growth strategies and leadership across Africa, Europe, and the MENA region. He has delivered substantial commercial results and spearheaded transformations for leading organisations such as Bidco Africa, where he served on the Board for 16 years...Read more.

Thank you for being a part of our community, and we hope you find this edition of the Africa Bulletin informative and inspiring.