Webber: Africa needs to work together on energy transition

Shirley Webber, the Head of Natural Resources and Energy at ABSA, emphasizes the pivotal role of collaboration among African nations to achieve a successful energy transition. Speaking at the Africa Energy Week in Cape Town, South Africa, Webber underscores the importance of harnessing natural resources to drive global energy transformation. She highlights the need for tailored approaches to meet each country's energy needs and maximize the utilization of critical minerals across the continent. The conversation delves into the financial sector's role in supporting energy projects, focusing on empowering smaller enterprises and fostering transparency in financing. Webber acknowledges the improved transparency and risk assessment in African investments, emphasizing the significance of political stability and regulatory clarity. The discussion further delves into the landscape of mergers and acquisitions (M&A) in Africa, noting varying appetites of lenders based on sectoral preferences. While financing mining projects may pose fewer challenges compared to energy ventures, striking a balance between profitability and sustainability remains essential. Webber advocates for a phased approach to transition, considering Africa's unique energy mix and the gradual shift towards renewables. She addresses the disparities in energy development, emphasizing the need for equitable financing mechanisms to support diverse energy sources. In the context of South Africa's coal-based energy infrastructure, Webber acknowledges the transition towards gas and renewables while sustaining the existing base load. She stresses the significance of renewable energy programs and battery storage initiatives in driving Africa's energy transformation. While recognizing the continent's diverse energy landscape, Webber emphasizes the collective commitment to building a sustainable future through a balanced energy mix tailored to Africa's needs. As Africa navigates the complexities of energy transition, the call for collaboration, transparency, and strategic financing resonates across the continent. The dialogue led by Webber sheds light on the multifaceted strategies required to steer Africa towards a green and inclusive energy sector.