Sahara Group calls for greater intra-African collaboration

The main African energy conglomerate, Sahara Group, has reiterated the need for greater intra-African collaboration to accelerate the continent’s march towards access to sustainable energy solutions and, ultimately, the energy transition.

Executive Director Wale Ajibade, who led the Sahara Group delegation at the Libyan Economic and Energy Summit 2021 in Tripoli, said that collaboration aimed at promoting security on the continent remains critical to achieving sustainable development in Africa.

Ajibade said ensuring the safety of lives and property would enhance investment within the continent and also boost the foreign direct investment needed to transform Africa’s expanding oil and gas sector.

“The importance of security and political stability in Africa cannot be overstated. We need to see increased cooperation between governments, business, civil society and other stakeholders in this regard to enable the continent to rapidly increase its local capacity and global competitiveness, “he said. .

Sahara Group urges greater intra-African collaboration at Libya Energy Summit
He added: When we start talking about energy transition, yes, it is very appreciated and accepted, but without the right investments and the enabling environment, it will be difficult for us to make the transition to renewable energy. When we talk about green energy and renewable energy, there is a cost. How are we going to achieve the energy transition if the economies of our countries are not better? “

Sahara Group urges greater intra-African collaboration at Libya Energy Summit
Ajibade said that Sahara Group will work with the government and good people of Libya to improve access to energy in order to achieve precise economic growth and development.

“At Sahara Group we are passionate about bringing energy to life responsibly across the continent. We need the energy to realize Africa’s potential and all stakeholders will have to work together to achieve this. This conference is a big step in the right direction and We are delighted to be part of the transformation that is unfolding in Libya, “Ajibade said.

The Libya Energy and Economic Summit, which ends today, is the first large-scale international event to take place in Libya in more than a decade. Participants expressed optimism about the huge prospects in Libya’s oil and gas sector amid the growing fortunes that have seen the country emerge as one of Africa’s top oil producers.

Since then, the Libyan government has unveiled plans to increase oil production to 2.1 million bpd over the next four years; and increase gas production to 4.1 billion cf / d. Currently, Libya has estimated oil and gas reserves of approximately 48 billion barrels and 1.5 trillion cubic meters, respectively.

This objective offers African and global investors enormous opportunities within Libya’s downstream and middle sector.