African
Ministers of Energy from Ghana and Zambia are amongst the attendees at the
Norway - Africa Energy Summit organized by Norfund and the Norwegian-African
Business Association (NABA).
The African
Ministers of Energy will, alongside energy companies, investors and
researchers, highlight the current status on energy in Africa. They will
underline the necessity of putting in place a robust energy system, which will
ensure electricity for the population and serving both the public and the
private sector.
Sub-Saharan Africa is rich in terms of energy resources, but
lags behind in terms of energy supply. According to figures from the
International Energy Agency (IEA), only 290 million of Sub-Saharan Africa's
population of 915 million currently has access to electricity.
Not enough
investments are being made in developing viable energy systems, and the
population growth is a contributing factor to the increase of people without
access to electricity.
In order to
create growth and lift people out of poverty, it is essential to have access to
stable electricity. Few from the Western world have taken into account the size
of the challenge when developing the energy systems in poor countries.
In
energy aid, it is easier to have a focused effort on simple and immediate
measures which will provide temporary and second-class solutions for the poor,
than to focus the efforts towards the core task: To develop good energy systems
that supply the population, both public and private sectors, with stable
electricity in sufficient quantities.
"It is
therefore an urgent need in Sub-Saharan Africa for long-term capital investment
in infrastructure. There is also a need for dedicated apparatus that help
reduce the risks associated with the long investment horizon in energy
developments, " says Kjell Roland, Managing Director of Norfund.
Nearly 80
per cent of all proposed energy projects are abandoned at an early stage due to
a magnitude of reasons. "It is almost only investors like Norfund with a
development mandate, which are willing to invest in early phases of projects.
Amongst the private investors, KLP are among the few who also invests in energy
for development," says Roland.
"At
today's conference you will meet Ministers of Energy from Africa, researchers
such as Adam Kendall from McKinsey and Hans Rosling from the Gapminder
Foundation, representatives from companies that invest in energy and financial
investors. They will all highlight the topic of discussion from their
viewpoint,” says Eivind Fjeldstad, Managing Director of the Norwegian-African
Business Association (NABA).
The
conference will take place at Latter in Aker Brygge in Oslo, Norway.
###
For
more information or interviews, please contact:
Kristin
Imafidon
Norfund
+47 400 63
763
Daniella
Woldemichael
The
Norwegian-African Business Association (NABA).
+47 900 556
35
About
Norfund
Norfund –
the Norwegian Investment Fund for Developing Countries – invests in the
establishment and development of profitable and sustainable enterprises in
developing countries. By contributing to the development of local
businesses, jobs and economic growth, Norfund aims at
reducing poverty. Norfund cooperates with partners that have the best
potential for commercial success - Norwegian or international. http://www.norfund.no
About
NABA
The
Norwegian-African Business Association (NABA) was founded by the Confederation
of Norwegian Enterprise (NHO), Virke – the Enterprise Federation of Norway,
Norfund, Statoil, Yara International, Nortura, DLA Piper, Norwegian Shipowners’
Association, Jotun AS, Astrium Services, Innovation Norway, Aqua Unique, Belief
AS, Green Energy Group, Marine Research Institute and the Oslo Chamber of
Commerce.
NABA is the
only Norwegian-African chamber of commerce, and provides the most relevant
network for Norwegian companies working in African markets. NABA promotes
Norwegian member companies in Africa, we promote African business opportunities
in Norway and advocate for more, better and safer business collaboration
between Norway and African countries. http://norwegianafrican.no
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