Stakeholder calls for integrated financing of Africa’s energy future
Date:
30 September 2026 4:09am WAT
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Lead, Business Performance & JV Assets at NNPC Limited,Olamide Efosa-Austin, has called for greater mobilisation of domestic, institutional and international capital to finance Africa’s energy needs and support industrialisation across the continent
Efosa-Austin made the call at the inaugural Africa Capital Week 2026 in Nairobi, Kenya, where policymakers, regulators, investors, capital-market operators and business leaders examined ways to deepen Africa’s capital markets and strengthen financing for economic development
Speaking at the Capital for Renewable Energy & Climate Change session, Efosa-Austin said Africa’s energy transition required an integrated financing approach that recognised the continent’s need for energy security, industrial growth, job creation and economic development
She argued that Africa should not approach the energy transition as a choice between conventional and renewable energys capable of supporting its broader development needs
“Africa does not have the luxury of an either/or energy transition,” she said
According to her, the continent must increase its ability to mobilise capital from domestic and institutionalenergy projects
She also stressed the need to increase Africa’s share of global energy financing, noting that capital deployed across the continent should translate into sustainable economic value
Speaking on the broader capital-market challenge, Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said stronger capital markets were essential to unlocking financing for Africa’s infrastructure and economic development
Agama emphasised the need for greater collaboration among African capital markets and stronger investor confidence to facilitate the mobilisation of long-term capital for productive investments
His position reinforced discussions at the forum on the difficulty of connecting Africa’s available capital with credible and investment-ready projects
Stakeholders identified the development of bankable projects, stronger financial institutions, regulatory cooperation and investor confidence as key issues affecting the flow of capital into Africa’s infrastructure and energy sectors
The forum, held under the theme, “Deepening Capital Markets to Advance Africa’s Economic Sovereignty,” also examined the role of capital markets in mobilising long-term financing for infrastructure and economic transformation
A major outcome was the Nairobi Declaration 2026, which includes commitments on regulatory cooperation, greater integration of African securities exchanges, the development of an Africa Bankable Projects Pipeline and mobilisation of institutional capital for infrastructure