On the sidelines of the 2024 Annual Meetings of the World Bank & International Monetary Fund

This event is held in partnership with:

 

Date:

Tuesday, October 22, 2024

Time:

 

2:00 PM - 4:00 PM

*A networking reception will take place after the event*

Location:

Location details will be provided via email a few days ahead of the event

 

 

A high-level event convened by the Corporate Council on Africa (CCA) and the AfriCaribbean Diaspora Alliance (ADA) on the margins of the 2024 World Bank and International Monetary Fund Fall meetings. This forum will focus on the multiplier effects of leveraging Africa’s natural gas resources as well as the investment opportunities and challenges in this dynamic sector.

 

Background

In the past decade, 40% of the world's new natural gas fields were discovered in Africa, significantly contributing to future energy supplies. With over 5,000 billion cubic meters available, Africa has 13% of the world’s natural gas supplies. Natural gas infrastructure can facilitate electricity access in regions with acute energy shortages. This is crucial as around 600 million people in Africa lack consistent electricity access. Transitioning from more polluting fuels to natural gas is a game changer for Africa, as it can play a pivotal role in decarbonizing its energy sector. This shift towards cleaner energy sources enables the continent to embark on a more sustainable and environmentally friendly future. While the continent currently contributes only 3% of the world's carbon dioxide emissions, the cumulative carbon emissions from its gas resources could reach around ten gigatons in thirty years.

 

Natural gas plays a crucial role in Africa's energy landscape, particularly in integrating renewable energy sources. It ensures a consistent power supply even when solar or wind energy is not at its peak, providing a reliable backbone for the continent's energy needs. This reliability is a significant reassurance for the continent's energy needs, contributing to climate change mitigation efforts while fostering sustainable development and growth.

Natural gas brings a multitude of economic benefits to Africa. It helps countries earn revenue through liquefied natural gas (LNG) exports and fosters the development of robust energy infrastructure. These economic benefits underscore the financial viability of the energy sector in Africa.

 

CONFIRMED SPEAKERS:

Moderator: 

• Kalidou Gadio, Co-Chair, U.S.-Africa Practice, DLA Piper

Panelists:

• H.E. Mohamed Ould Khaled, Minister of Energy and Oil, Mauritania
• Marie-Laure Akin-Olugbade, Senior Vice President, African Development Bank Group
• His Eminence Ebere Chukwu Oji, Chair/CEO, Eastwise Ventures Limited and Eze, Arochukwu Kingdom 

 

Please RSVP no later than by 8:00 AM EST on October 21, 2024 

For more information or questions, please contact:

Biova Kabine

Senior Program Director

bkabine@corporatecouncilonafrica.com