Sahara Group Advocates New Energy Financing Approach

Sahara Group has called for a fresh approach to financing Africa’s energy sector, emphasizing the need for stronger governance, investor confidence, and better-prepared projects to unlock necessary capital for the continent's energy transition. This call was made on Wednesday during the third edition of Asharami Square, themed ‘Energising Africa’s Future: Legacy, Impact and Transformation’.

Ejiro Gray, Director of Governance and Sustainability at Sahara Group, stated that Africa's energy future must reflect local realities and urged for more balanced journalism to explore the complexities of energy transition. Sadiq Wanka, Special Adviser to the President on Power Infrastructure, noted that while reforms in Nigeria's electricity sector are creating investment opportunities, financing remains the primary challenge.

He highlighted the need for mobilizing capital and structuring bankable opportunities. A panel discussion included experts from various organizations, who agreed that Africa has significant capital pools but requires improved governance and project preparation to attract investment.