Washington – The Angolan Government advocates that the World Bank (WB) develop an Integrated Electricity Action Plan for Africa, over a period of five years (2025-2029), with a view to reducing the energy deficit that the continent faces.
According to the minister of Planning and governor of Angola at the World Bank, Victor Hugo Guilherme, “it is particularly urgent that this plan be developed, because current data indicate that more than 600 million Africans do not have access to electricity and 900 million live without clean energy.”
Speaking Tuesday, at the meeting of the African Bench 2024, which was attended by the chairman of the World Bank Group (GBM), within the framework of the Bretton Woods gatherings, the official said that the project must be in parallel with the Climate Change Action Plan (CCAP) of this financial institution, being designed at the scale and quality necessary to support the equitable and fair components of the energy transition.
He also highlighted the need to create a balanced “energy basket”, which includes renewable energies such as solar, wind and hydroelectricity, as well as natural gas and nuclear energy.
The government official assured that, for this challenge, Angola is available to collaborate, including the establishment of solid political frameworks that promote investment.
To him, this diversified view is essential to ensure energy security and reduce dependence on fossil fuels in order to achieve the Affordable and Clean Energy Goals (SDG7) by 2030.
He considered natural gas a cleaner transition fuel with significant potential to reduce carbon emissions compared to coal and oil.
“As nuclear energy gains attention as a viable option for diversifying energy sources and reducing greenhouse gas emissions, discussions surrounding its safety, investment and public perception must continue to be a priority, as well as close collaboration with the International Atomic Energy Agency (IAEA) and other international stakeholders”, he added.
To this end, it is of utmost importance to explore solutions that allow oil production, minimizing carbon emissions, with the inclusion of cleaner extraction technologies, with the reinvestment of a portion of oil revenues in renewable energy projects.
On the other hand, Victor Guilherme said that Angola is committed to implementing initiatives such as Mission 300 (M300) and the Energy Pacts at national level, having asked the World Bank Group (WBG) to develop and share adapted results tables or metrics, including indicators with data baseline and objectives, to measure the results, progress, effects and impact of these initiatives.
With this highlighted, it will be possible to pave the way for a sustainable and inclusive energy future, which empowers citizens and boosts economic growth.
Energy deficit
Due to the energy deficit, the Angolan minister noted that more than 500 million people could be left without access to electricity by 2030, in Sub-Saharan Africa, of which almost 400 million live in fragile countries affected by conflicts.
The official also recalled that, at COP28, the WBG launched a new energy transformation program, with the aim of reaching 200 million Africans by 2030, an initiative budgeted at USD 5 billion in financing, with an additional USD 10 billion, from the public and private sectors.
Regarding the new partnership between the WBG and the African Development Bank (AfDB), the target related to beneficiaries was expanded, with the expectation of reaching 250 million people with access to electricity, through distributed renewable energy systems.
In addition to Angola, the African Bench 2024 meeting brought together leaders from Cabo Verde, Ghana, Gambia, Benin, Algeria, Nigeria, Egypt, among other leaders, marking the high point of the second day of the annual meetings of the World Bank and International Monetary Fund.
Meanwhile, still on Tuesday, the Angolan delegation held several bilateral meetings, with emphasis on the meeting between the Minister of Finance, Vera Daves, and the U.S. Under Secretary of the Treasury for International Affairs, Jay Shambaugh, which aimed to address issues linked to public investment Angola, the risks associated with fiscal policy, maintaining debt sustainability and the exchange rate risk that the Angolan economy faces.
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