The African Energy Chamber is advocating home grown solutions to deal with energy infrastructure gap among African countries, which is estimated to be $20 billion annually.
According to the chamber, Ghana and other oil producing nations on the continent needed to invest heavily into the sector to avoid an energy curse.
Executive Chairman of African Energy Chamber, NJ Ayuk, spoke to Journalists after hosting the investor briefing for stakeholders in Accra.
The Accra Investor Briefing by the African Energy Chamber and the Ministry of Energy and Green Transition offers global investors exclusive insights into Ghana’s fiscal and regulatory developments since oil discovery.
Although Africa is progressing in development in the sector, the chamber believes more work need to be done to attract investors into the sector.
The Executive Chairman highlighted the need for huge investments in infrastructure.
“This is not just Ghana alone but the whole of Africa needs to find the solution to fix its infrastructure in energy sector, countries must find the fix on how to deliver affordable energy to their citizens without always relying in any complex facility,” he said.
“That infrastructure deficit needs to be closed. It requires about 15 to 20 billion dollars in investment every year, and that is a lot of money we need. But you know, whenever you close that gap then it’s easy to bring gas to people every day. So we need to create pipelines and close that infrastructure deficit,” he added.
As part of the initiatives to transform the sector, Bulk Oil Storage and Transportation, BOST has hinted of plans to begin construction of some storage facilities for the downstream sector.
Technical advisor at BOST, Nana Anamoa Sakyi, expressed the hope that the construction would begin soon on some storage tank facilities and the expansion of pipelines by BOST.
The event provided a first-hand look at Ghana’s energy roadmap, positioning the country as West Africa’s premier energy hub and unlocking multi-million-dollar investment opportunities.
