Africa is rich in solar energy, but poor in investment

" Africa is rich in solar energy but poor in investment; the continent holds 60% of the world's solar potential but attracts less than 3% of global energy financing," said Claver Gatete at the end of the High-Level Political Forum, which took place this week in New York.

The continent, he stressed, "is not just asking for help, it is offering answers; energy is not just a public good, it is an engine for job creation, industry, and transformation."

More than 600 million people across the continent remain without access to electricity, with demand for energy rising due to Africa's rapid population and city growth and industrial ambitions, Gatete said, adding: "While the world talks about energy transition, much of Africa remains trapped in energy poverty."

Citing examples of children studying at night by candlelight, clinics operating without power, or the limited livelihoods due to a lack of electricity, the head of the UN's economic division in Africa emphasized that "energy poverty continues to be a major obstacle to development across the continent" and advocated for a new model for financing energy investments.

"We need a new deal on energy finance that supports innovation, strengthens grids, and builds clean energy industries that work for both people and the planet," Claver Gatete proposed.

Africa, he admitted, is "a paradox of potential and neglect," home to abundant resources such as solar, wind, hydro and geothermal energy, yet still largely ignored by international investment.

Quoted in a press release sent to Lusa, Gatete reiterated that Africa's energy transformation must move from the margins to the center of the global development agenda, not only for climate resilience, but also for sustainable growth, economic justice, and shared prosperity.

The High-Level Political Forum on Sustainable Development (HLPF) is the UN's central platform for reviewing progress on the Sustainable Development Goals (SDGs). It ran until Friday in New York, with a series of meetings and seminars bringing together governments, UN entities and stakeholders to assess challenges and outline solutions.

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