Energising conversations in Cape Town

As the world’s attention is increasingly turning towards energy transitions and the future of fossil fuels, Africa is actively progressing in tapping into its vast energy resources, often colloquially termed its ‘Black Gold’. Striking a balance between sustainable practices and meeting the demands of its burgeoning population, Africa treads a distinct path. The diversity of its resources offers great promise. The recent African Energy Week in Cape Town, South Africa, was a testament to this evolution, highlighting both the encountered challenges and the vast untapped potential.

Throughout the week, the African Energy Week took place in Cape Town, attracting prominent government and industry leaders from across the continent. These leaders showcased their nations’ efforts and innovations. Personally, I had the honour of attending and moderating a panel on investment opportunities in Uganda. Additionally, I presented to a select group organised by S&P Global, the International Energy Forum, and the African Energy Chamber, discussing COP28 and sharing my perspectives on the energy transition’s pace and magnitude.

At the conference, Uganda’s presence was notably strong. President Museveni was represented by Energy minister Ruth Nankabirwa, who delivered a speech from the President that was warmly received. Ms Nankabirwa also participated in panels, advocating for Uganda with exceptional grace and gravitas. Energy minister permanent secretary Irene Batebe highlighted Uganda’s potential in oil, gas, nuclear, wind, solar, and hydro energies. The aim is for Uganda to generate more than 54,000 megawatts of affordable power by 2040, predominantly from renewable sources.

On the upstream oil side, the CEO of the Uganda National Oil Company, Proscovia Nabanja, eloquently presented the merits of the Tilenga, Kingfisher, Eacop, and refinery projects and their potential benefits.
Mr Ali Ssekatawa, the head of legal and corporate affairs at the Petroleum Authority of Uganda (PAU), assured investors of Uganda’s reliability as an investment destination.

I also had the unique opportunity to moderate a session focused on Uganda featuring prominent international figures, including Petro SA’s CEO Sandisiwe Ncemane. Uganda’s private sector was also well-represented by teams from firms such as Aggrey Ashaba from the Uganda Chamber Of Mines, and Rohi Investments ’s CEO Job Kahigwa.

Furthermore, the conference spotlighted significant challenges facing the continent. Nearly one billion Africans lack access to clean cooking methods, while 600 million are without electricity. African energy poverty remains completely inexcusable. Access to electricity alone is not enough. The mere presence of a light bulb in a home is not sufficient in the measurement of prosperity.

The energy transition was a focal topic. Historically, energy transitions have occurred, each shifting from one energy source to another to boost human prosperity. Currently, some are urging Africans to transition from darkness to even deeper darkness, “in a night already devoid of stars.” The funding pledged in Paris remains elusive. Africa receives less than two percent of global renewable energy financing. Following the COP conference in Glasgow, financing for African oil projects was halted, citing environmental concerns. Paradoxically, Western nations opened new oil fields and even reverted to coal. This disparity was addressed assertively at the African Energy Week.

Bestselling author Alex Epstein even suggested that Africa should exit the Paris Agreement, asserting that the promised $100 billion will remain unfulfilled and highlighting nations like Singapore, which thrive on fossil fuels. While extreme, this viewpoint underscores the palpable tension between African nations and the Western elite.

In essence, as global energy dynamics shift rapidly, Africa’s role is growing significantly. With vast energy resources, Africa is positioned to play a pivotal role in the energy sector. Yes, African countries need to find ways to use energy resources well for our people’s benefit. It’s also important for other countries to see and help with what Africa wants to achieve so that everyone benefits. Conferences like Africa Energy Week offer invaluable platforms to exchange ideas, discuss options, and highlight opportunities. Uganda certainly stood out with its compelling contributions in Cape Town. 

The writer is an advocate and partner at Kampala Associated Advocates 
[email protected]