The Secretary-General of the African Continental Free Trade Area (AfCFTA), H.E. Wamkele Mene, has emphasized that Africa will need an estimated $100 billion to accelerate renewable energy development and expand electricity access across the continent.
Speaking at the closing session of the 2025 Africa Oil Week (AOW) in Accra on Thursday, September 18, Mr. Mene noted that although Africa holds about 60% of the world’s renewable energy potential, it lacks the capital required to harness these resources for large-scale industrial and energy transformation.
Delivering the keynote address under the theme “Energy and Sustainable Forum,” the AfCFTA boss pointed out that 49 of Africa’s 54 countries have ratified the AfCFTA agreement, creating a platform to boost intra-African trade and leverage the continent’s population as a driver of investment in energy and industrial growth.
He stressed that unlocking Africa’s abundant solar, geothermal, and other renewable resources could close the persistent electricity gap that continues to constrain development. However, he lamented the continent’s continued reliance on imported finished products, expertise, and energy commodities.
Mr. Mene therefore called on African governments, business leaders, and energy sector professionals to craft a pragmatic action plan to accelerate transformation of the continent’s energy landscape.
Themed “Sustainable Energy Transition and Investment in African Resources,” the 2025 Africa Oil Week convened industry leaders, policymakers, and investors to discuss Africa’s evolving energy future. The forum focused on building partnerships, mobilizing investments, and addressing challenges such as carbon management, sustainable gas development, and universal energy access.