Imfino News

Brussels, November 8, 2018 - Today at the Africa Investment Forum in Johannesburg organised by the African Development Bank, the European Union and the African Union have launched the EU-Africa high-level platform on sustainable energy investments in Africa.

During his State of the Union speech President Juncker has announced the new 'Africa – Europe Alliance for Sustainable Investment and Jobs' to substantially boost investment in Africa, strengthen trade, create jobs, and invest in education and skills. The high-level platform that was set in motion today represents a concrete action under this alliance to boost strategic investments and strengthen the role of the private sector.

Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska, said in Johannesburg: "If we are serious about sustainable energy investments in Africa, we need everybody on board, including the private sector. The high-level platform will pave the way for that: experts from the public, private, academic and financial sectors will jointly discuss challenges and barriers to sustainable investment in this area and help to address them.”

The High Level Platform brings together public, private and financial operators as well as academia from Africa and Europe. They will examine challenges and strategic interests that could accelerate impact, especially for sustainable growth and jobs. The high-level platform aims to attract and boost responsible and sustainable private investments towards sustainable energy in Africa.

A concrete outcome of the high-level platform launch event was the announcement of three streams of work, 1) identify energy investments with high impact for growth and job creation, 2) analyse energy investment risks and propose policy guidelines for a sustainable investment and business environment and 3) boost exchanges between African and European private sector.

Background

By bringing energy actors from the private and public sectors together from both continents, the high-level platform will foster the partnership between European and African businesses, and support the 'Africa- EU Alliance for Sustainable Investment and Jobs'. It will help to make most of opportunities around sustainable energy investments in Africa, as well as to better address challenges and key barriers that currently hinder it.

The Africa Investment Forum in Johannesburg takes place from 7-9 November 2018 and is organised by the African Development Bank. The Forum is the place where project sponsors, borrowers, lenders, and public and private sector investors come together to accelerate Africa's investment opportunities – especially the energy sector.

The 'Africa-Europe Alliance for Sustainable Investment and Jobs' builds on the commitments taken during the African Union – European Union Summit, which took place in November last year in Abidjan, where the two continents agreed to strengthen their partnership. It sets out the key strands of action for a stronger economic agenda for the EU and its African partners.

Access to sustainable energy plays a fundamental role in development. The objective of the 2030 Agenda for Sustainable Development is to give universal access to affordable, reliable, modern energy services. The EU is determined to help partner countries to increase renewable energy generation and to diversify their energy sources ensuring the transition to a smart, secure, resilient and sustainable energy system for all. Mobilisation of the private sector is crucial for this endeavour.

For More Information

Africa-Europe Alliance