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A series of increasingly high-profile and commercialised UN climate change summits has driven a global boom in climate finance, but Africa is being left behind as a result of poor infrastructure, weak governance and other issues.
As discussions start at COP28 in Dubai, African Energy assesses the data and what needs to change if Africa is to hit its climate change targets.
Issue 496 - 01 December 2023
In a recent conversation, an independent power producer (IPP) told African Energy that its southern African utility client has been paying for its electricity “more or less on time”. The problem was those payments were being made in a local currency that cannot be exchanged as “the central bank has no money”. The IPP could turn to international arbitration to try and enforce its contract terms, “but what’s the use of that,” the executive asks, “when there’s nothing to be had?”
Issue 496 - 04 December 2023