Slow progress at some of sub-Saharan Africa’s most high-profile LNG developments come as exporters from other parts of the world race to sign new long-term deals with buyers from Asia and Europe. The risk for African producers is that they could miss out on lucrative opportunities, costing governments large amounts in lost foreign earnings, writes Marc Howard*.
Issue 502 - 17 March 2024
Mozambique, Egypt, Mauritania, Algeria, Tanzania, Morocco, Senegal
Shortfalls in financial flows, failures to deal with debt and a lack of voice in global decision-making arenas are longstanding issues that African leaders are now seeking to address, with leaders from Ghana, Kenya and Zambia setting out a blueprint for reform covering everything from UN Security Council seats to the reallocation of $100bn-worth of assets held by the IMF.
The extent to which these ambitious goals can be achieved could prove critical to Africa’s ability to finance and structure the energy transition on its terms – but the continent’s governments also need to accelerate their own reforms.
Issue 502 - 18 March 2024