COLLABORATION is the name of the game in Africa as the continent pools resources and capabilities to address the opportunities and threats posed by the energy transition. Earlier this month, Cairo -based Afreximbank and the African Petroleum Producers Association struck a deal to establish a dedicated bank to fund oil and gas projects - and maybe renewables. This energy bank aims to be the go-to lender for African nations fearful of being unable to develop their hydrocarbon resources in the energy transition due to a lack of funds from traditional Western finance houses. Africa's governments realise they will move to renewables over time, but existing oil and gas producers and those with untapped hydrocarbons need to continue producing fossil fuel resources to help fund their transitions.
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