AfDB President Adesina: Africa set to lead global renewable energy and green transitions
Nairobi, Kenya – In a significant declaration at the African Development Bank (AfDB) Annual Meetings 2024, Dr. Akinwunmi Adesina, President of the AfDB Group, announced that Africa is poised to spearhead the global agenda on renewable energy and green transitions. Speaking on the sidelines of the event, Adesina highlighted Africa’s unique potential and strategic position to lead in sustainable energy initiatives.
The annual meetings, marking the 59th Annual Assembly of the AfDB, the 50th meeting of the African Development Fund (ADF), and 60 years of the AfDB’s existence, served as a platform for this forward-looking announcement. Adesina’s vision underscores the continent’s abundant natural resources and its critical role in the future of global energy and agricultural sectors.
Africa’s Solar Potential: A Game Changer
Adesina emphasized Africa’s exceptional solar energy potential, noting that the continent boasts around 11 terawatts of solar capacity, the highest in the world. “Globally, we have been talking about energy transitions and the need to reduce CO2 emissions. Africa will drive the global agenda on renewable and green energy transitions for two reasons. We have great sunshine, which has about 11 terawatts of solar potential,” Adesina stated. He pointed out that the intensity of solar radiation in Africa is unmatched globally, positioning the continent at the forefront of the renewable energy revolution.
Beyond Solar: Green Hydrogen and More
The AfDB President also discussed the burgeoning interest in other forms of green energy, including green hydrogen, green ammonia, and jet fuels, which rely heavily on renewable sources such as solar energy. He highlighted Africa’s wealth of natural resources—platinum, copper, and lithium—essential for the Electric Vehicle (EV) market and battery energy storage systems.
“Africa today has 90% of all the platinum in the world, well over 60-70% of all the copper, and 50% of all the other metals, including nickel and lithium. These resources are pivotal for the future of electric vehicles,” Adesina noted. He stressed the importance of harnessing these resources strategically to transform Africa and position it prominently in global value chains.
Agriculture: The Linchpin of Africa’s Transformation
Turning to agriculture, Adesina underscored its critical role in Africa’s transformation. With most of the world’s uncultivated arable land located in Africa, the continent is poised to play a vital role in global food security. “What Africa does with agriculture will determine the future of food in the world. Africa’s transformation will have to happen with what Africa has and how it harnesses those resources,” Adesina said.
He emphasized that leveraging Africa’s agricultural potential is crucial to meet the needs of the growing global population. By focusing on sustainable practices and innovation, Africa can ensure food security for future generations while driving economic growth.
Strategic Positioning for Global Influence
Adesina’s remarks come at a critical time as the world grapples with the twin challenges of climate change and sustainable development. He called for strategic positioning and leveraging Africa’s natural resources to lead in the global energy and agricultural sectors. The AfDB’s efforts are aligned with this vision, aiming to foster economic growth, reduce poverty, and enhance sustainable development across the continent.
The AfDB’s initiatives in renewable energy and agriculture are designed to address both local and global challenges. By investing in solar power projects, green hydrogen production, and sustainable farming practices, the AfDB aims to create a resilient and diversified economy in Africa.
Collaborative Efforts for Sustainable Development
The success of these initiatives will require collaboration between governments, private sector stakeholders, and international partners. Adesina called for increased investment in Africa’s renewable energy and agricultural sectors, highlighting the potential for significant returns and positive global impact.
“The world must recognize Africa’s potential and invest in its future. By doing so, we not only support Africa’s development but also contribute to global stability and sustainability,” Adesina said.
The Future of Africa’s Renewable Energy
Looking ahead, the AfDB is committed to supporting projects that harness Africa’s renewable energy potential. This includes expanding access to solar power, developing infrastructure for green hydrogen production, and promoting the use of sustainable technologies in agriculture. These efforts are expected to drive economic growth, create jobs, and improve living standards across the continent.
The AfDB’s focus on renewable energy is also aligned with global efforts to combat climate change. By reducing dependence on fossil fuels and promoting clean energy solutions, Africa can play a leading role in the global transition to a low-carbon economy.
