A Just Energy Transition in Africa Requires Energy Banks

Africa is still grappling with the crisis of energy poverty a problem that is only becoming more acute as a result of a decline in investment and a lack of adequate infrastructure. It is possible that renewable energy sources, despite their widespread availability across the continent, will fall short of meeting Africa’s electricity demands in the short to medium term, leading to either the continued use of oil and gas or the emergence of even more people living in energy poverty. Numerous stakeholders have advocated for the continued presence of oil and gas, at least in the medium term, so that the continent can transition gradually while simultaneously lifting millions of people out of poverty.