BP’s Mojapelo on managing energy transition expenditure in Africa

The 2024 Africa Energy Week in Cape Town has been abuzz with discussions on the energy transition sweeping across the continent. Taelo Mojapelo, the CEO of BP Southern Africa, shared insights on managing energy transition expenditure during an interview with CNBC Africa's Fifi Peters. Mojapelo highlighted the importance of recognizing the varying stages of transition among African countries, emphasizing the need to transform without leaving society behind. He underscored the concept of an energy trilemma, comprising the need for secure, affordable, and low carbon energy solutions. Mojapelo discussed BP's focus on LNG as a transition fuel and the collaborative efforts underway to develop infrastructure for gas supply in South Africa. He emphasized the need to strike a balance between the short-term costs of the transition and the long-term benefits for communities and stakeholders. Mojapelo also stressed the importance of a holistic approach to the transition, incorporating a mix of energy sources including solar, LNG, nuclear, coal, and hydrocarbons to meet future energy needs sustainably. The interview provided valuable insights into BP's strategic approach to navigating the complexities of the energy transition in Africa.