Global energy experts will convene in Cape Town this March for the annual Africa Energy Indaba, an event of paramount importance amidst local and global developments shaping the continent's energy security strategies.
Recent geopolitical events have intensified the global spotlight on energy security amidst threats to supply and rising prices. This renewed focus prompts nations worldwide to reassess their national energy plans and adjust priorities to ensure national energy resilience and security.
"Energy security, ensuring uninterrupted energy sources at an affordable price, remains paramount," explains Prashaen Reddy, partner at Kearney, a global management consultancy. Moreover, Reddy underscores that access to energy is a prerequisite for economic growth, socioeconomic development, and political stability.
"Notably, energy security journeys will differ between developed and emerging countries due to resource disparities, emphasizing the need for tailored solutions rather than a one-size-fits-all approach," notes Reddy.
Africa faces a dual energy security challenge, with inadequate electricity access continent-wide. Approximately 600 million people, constituting 53% of the population, lack electricity. This challenge is compounded by constrained electricity supply.
Looking ahead, engagement at the Africa Energy Indaba seeks to delve into Africa's energy security journey. "We believe gas can play a pivotal role in facilitating a just energy transition in Africa while addressing immediate energy security needs," notes Reddy. "With collaboration and innovation, Africa can navigate its energy challenges, paving the way for sustainable development and prosperity," concludes Reddy.
Prashaen Reddy and his colleagues, Igor Hulak and Frances Philips, will be sharing their expertise and insights on the African energy sector at the upcoming Africa Energy Indaba and Gas Forum events at CTICC from 4 to 7 March 2024.