ECA, RES4Africa identify key steps to advance Africa’s electricity sector reform agenda

On Mar 28, 2023 109

Addis Ababa, March 28, 2023 (FBC) – In the framework of support from the Italian Ministry of Foreign Affairs and International Cooperation to Advancing the electricity reform agenda by enhancing public-private dialogue, the United Nations Economic Commission for Africa (ECA) and the RES4Africa Foundation hosted today the High-Level Public-Private Dialogue on Private Sector Investment in Electricity and Infrastructure Development in Africa.

The event brought together stakeholders from the public and private sectors, including policymakers, international organizations, and decision-makers working in energy and infrastructure.

The event also highlighted the importance of public-private cooperation for shaping an effective reform agenda and scaling up infrastructure investments to drive transformational change in the African energy sector.

“We recognize the importance of continuing on a low-carbon path, that leverages the immense potential in clean and renewable energy. Ethiopia has invested in developing geothermal, wind, solar and other areas of sustainable energy to deliver on our goals. As we aspire to restructure and develop effective national energy markets, public-private partnership is an essential requirement,” said Sultan Woli, State Minister for the Energy Development of the Federal Democratic Republic of Ethiopia.

Acting ECA Executive Secretary Antonio Pedro, stressed that the policy and regulatory challenges will require putting in place the kind of infrastructure that can support growth and prosperity.

Although the majority of infrastructure funding has so far come from African governments, experts stress that it is necessary to crowd-in private sector investments to finance sustainable infrastructure development at scale.

RES4Africa Foundation and the ECA have joined forces to support African countries with evidence-based national electricity market regulatory reviews and promote the creation of policy and regulatory frameworks for greater openness, attractiveness, and readiness of African electricity markets to private investment.

“To boost private investment and accelerate the development of infrastructure in Africa, the first step is to create a clear, stable and transparent regulatory framework, pointed out Salvatore Bernabei, President of RES4Africa and CEO of Enel Green Power.”