- Over 1billion Africans Use Traditional Fuels for Cooking
- 500 million Africans Lack Access To Electricity
The Managing Director of Platform Petroleum, Engr. John Anim, has underscored the urgent need for Africa to build a self-sufficient and sustainable energy future.
In his speech titled “Achieving African Energy Security – The Critical Role of Cross-Sector Collaboration,” during the Upstream E&P Forum session at the African Energy Week (AEW 2024) in Cape Town, South Africa, Anim emphasized that securing Africa’s energy supply will require unprecedented cooperation across industries and borders.
While highlighting the scale of Africa’s energy gap, Anim said that nearly half a billion Africans lack reliable electricity, and over a billion still depend on traditional fuels for cooking.
“Energy security is not just an economic necessity; it is a cornerstone for stability, quality of life, and shared prosperity. The time has come for us to transform ambition into action, resources into results, and potential into power,” Anim said.
Africa’s energy demand is accelerating at a record pace, driven by rapid urbanization, industrial growth, and demographic expansion.
Anim noted that over the next decade, industrial and household energy demands are expected to skyrocket. With Africa home to nearly 7% of the world’s proven oil reserves and 9% of its natural gas reserves, he asserted that these resources hold the key to meeting future demand – but only if managed sustainably and strategically.
Despite Africa’s abundance of resources, the continent remains a net importer of refined fuels, a situation Anim attributed to limited refining capacity and outdated infrastructure. While Africa currently exports around 5 million barrels of crude oil daily, it still imports nearly half of that in refined petroleum products. He highlighted this supply-demand imbalance as both a challenge and an opportunity for collaborative investment.
Anim called for a new investment model rooted in partnership, where companies can share the financial burden and operational risks associated with large-scale projects.
“Africa’s path to energy independence depends on collaboration, innovation, and a supportive regulatory environment that inspires investor confidence,” Anim stated while calling on governments and private sector stakeholders to create a transparent, predictable regulatory framework to foster this cross-sectoral collaboration.
The Platform Petroleum Chief Executive urged African leaders to prioritize a collaborative approach that ensures long-term benefits remain within the continent, emphasizing that without this, Africa will remain vulnerable to supply chain disruptions and external dependencies.
Source: Legends and Legacy
