African nations have increased spending to combat climate change on the continent as the global race to achieve the United Nations’ carbon-free world goal set for 2050 accelerates. The substantial investment that the continent still needs to undertake in order to transition away from fossil fuels is examined by OPEOLUWANI AKINTAYO.
The recent Nigeria International Energy Summit in Abuja placed Africa’s energy transition at the top of the agenda. And the explanation is straightforward: by 2050, the continent is predicted to have about 2.5 billion inhabitants, making it the continent with the youngest population in the world.
Eighty percent of them will reside in Sub-Saharan Africa, where only sixteen percent of the population has access to clean cooking fuels and technology and where less than half of the population already has access to electricity. The energy shift on the continent is a difficult task. Between 2020 and 2040, it is predicted that Africa will spend $100 billion yearly to transition away from fossil fuels.
The impacts of climate change are more expensive for the continent even though the expense is enormous. South Africa committed to achieving with an investment plan to expedite its transition to renewable energy as part of efforts to move to clean energyS