Prime Highlights:
- The first-ever G20 Summit on African soil is driving action to expand energy access across the continent.
- Programs like REIPPPP and direct power purchase agreements are boosting investor confidence and attracting private investment.
Key Facts:
- Over 600 million Africans still live without electricity, highlighting the urgent need for investment in energy infrastructure.
- Nedbank has invested more than US$2.5 billion in renewable energy projects, supporting nearly 4.9 gigawatts of generation capacity.
Background:
As South Africa hosts the first G20 Summit on African soil, leaders and experts are urging a move from talk to action to improve energy access across the continent. They say this is a historic moment with the power to shape Africa’s economic future through better policies, blended finance and long-term investment.
Despite years of dialogue, more than 600 million Africans still live without electricity, limiting industrialisation, job creation and private-sector investment. This year’s G20 has given new hope, with reliable technologies, better regulations, and more global interest in sustainable investments.
South Africa’s policy changes are seen as a regional example. Programs such as the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and direct power purchase agreements have boosted investor confidence.
Nedbank has become an important supporter of Africa’s energy transition. The bank’s renewable energy portfolio now exceeds US$2.5 billion, backing more than 4.9 gigawatts of generation capacity. Nearly 20% of its lending book, amounting to roughly US$10 billion, qualifies as sustainable development finance aligned with global green-finance principles.
Energy security, experts warn, cannot be separated from climate resilience. Within the G20 process, the B20 has proposed an Adaptation Finance Accelerator to mobilise investment into projects that integrate energy with water and agriculture, priorities particularly critical for African economies.
Market successes in South Africa, Kenya, Morocco and Egypt show how predictable regulation and strong institutional capacity attract investment. Extending similar progress to markets with higher currency risk and limited fiscal space will require enhanced risk-mitigation tools, an area where the G20’s involvement could be transformative.
Africa’s first G20 moment is being framed as both a recognition of the continent’s importance and a mandate for action. Leaders say the next step is converting policy commitments into tangible outcomes, new transmission lines, expanded distribution networks, trained technicians and, ultimately, millions of new electricity connections.
Across the continent, the message is clear: Africa’s energy transition is not just possible, it is underway. With coordinated action from governments, financiers and development partners, the G20 could help move the continent from isolated successes to a unified, resilient and inclusive energy framework.
