There's an $11 trillion energy transition opportunity waiting to be unlocked in Africa

There’s been widespread reaction to Energy Minister Kgosientsho Ramokgopa’s ambitious R2.23 trillion plan to add 105 000 MW of new generation capacity over the next 15 years.

A major shift is underway, with solar, wind, and other renewable sources expected to play a far greater role in South Africa’s future energy mix.

This transition is part of a broader continental trend, as Africa moves more rapidly towards a green economy than many anticipated.

Speaking to Stephen Grootes on The Money Show, Daniel Mminele, chairperson of the B20 South Africa Energy Mix and Just Transition Task Force said the continent has an opportunity to become a key player in the global energy transition.

Achieving this, he says, will require close collaboration between business, government, and investors to develop inclusive, long-term energy solutions that promote both economic growth and environmental sustainability in Africa and other emerging economies.

"Here's an opportunity to amplify Africa's voice, to become a co-creator, to become a participant in decision making and make sure we're not just talked about, but that we're part of the conversations," says Mminele.

"The recommendations that we made in the task team are really geared towards what we refer to as the $11trillion opportunity that this energy transition represents, and that Africa must take advantage of these opportunities," says Mminele. 

Listen to the interview in the audio player above.