How Africa can sustain funding for oil & gas projects
As the world's largest investment banks shy away from financing future fossil projects, as the world makes that mental shift to cleaner energy, we ask, how can Africa strategize to fund fossil projects on the continent? Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board joins CNBC Africa for more.
Tue, 08 Mar 2022 15:12:58 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Africa's energy challenge and the need for reliable sources to alleviate poverty.
- The untapped potential of harnessing natural resources for energy generation.
- The pivotal role of development finance institutions and domestic financing in driving sustainable energy investments.
As a world's largest investment banks shy away from financing future pursue projects, and as a world makes that transition to cleaner energy, the conversation around how Africa can strategize to fund pursue projects on the continent becomes crucial. Simbi Wabote, the Executive Secretary of the Nigerian Content Development and Monetary Board, recently shared valuable insights on this matter with CNBC Africa. The discussion delved into the significance of sustainable energy sources for Africa's development and the role of development finance institutions in driving the funding for oil & gas projects. Africa stands at a pivotal moment where decisions on energy investments will have far-reaching implications for the continent's future. With a focus on leveraging natural resources, fostering local expertise, and mobilizing domestic financing, there are opportunities to propel Africa towards energy security and economic growth.
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