Unlocking Africa's Energy Potentials

Abstract

Africa is a continent blessed with plethora of natural and human resources, cascaded with the right climate conditions, fertile land, unending stream of waters as well as activities under the earth's topography coupled with the best of brains and mind. The combination of the above mentioned has been a blessing to the African continent and these blessings have seen the continent turn the bend ever since the ring of the millennium's bell, doubling its economy to reach a summit of 2.7 trillion dollars in 2013. The effects of this growth in the economy however remain invisible to the lot of the populace because population growth almost doubled during the same period, coupled with attendance crises that broke out in various parts of Africa. The struggle for change of government that swept most of the Arab world did not miss Africa; Libya and Morocco, two of the largest producers of energy also fell victim. As that subsided, terrorism reared its head in Nigeria and Kenya; internal insurrection led to a civil war in Sudan, leading to the division of the country, Ebola infected West Africa, cutting short the lives of thousands of future Africa leaders, reducing the prospect of economic buoyancy of Africa and affecting the energy production of the continent because most of the countries that have suffered major mishaps stated above are part of; if not the continent's largest provider and producers of energy.The World Bank in 2012, published its World Development Report on the African economy which was declared to be the size of the Netherlands' economy, which in itself is equivalent to approximately six percent of the United States' economy. In the wake of this, policies are being implemented in several countries designed towards increasing domestic energy production, as it has been realized that the rate of economic growth and buoyancy cannot be divorced from energy, because it is the driving force upon which all economic activities lies. The current state of the sub-Saharan energy system is however a major threat to the region's economic aspirations.This write up seeks to interrogate Africa's Energy potentials with the aim of unlocking it. This voyage would take us through the querying of the sources of energy in Africa both renewable and non renewable energy; the technology, policies and financing of the energy sector, the imperativeness and viability of business and investment in the African energy sector as juxtaposed with the challenges and prospects for achieving these goals.