NEPAD seeks private sector investment for Africa’s bioenergy sector

Category: Investment 9

Government officials, Private Sector, finance and technology providers as well as development experts convened a meeting in Dakar last week, under the New Partnership for Africa Development (NEPAD) Agency’s African Bioenergy Investment programme.

According to NEPAD, in a statement August 30, 2012, the meeting aimed to unlock  investment opportunities in the bioenergy potential of West Africa by raising awareness, stimulating productive public private partnership as well as work out how best to remove impediments to private sector investment in bioenergy.

The Agency said the overall objective is to encourage investment in bioenergy in Africa by the private sector to improve energy security, increase local clean energy production and use, increase job creation, facilitate technology transfer and manage the environmental impact of industrial waste.

Addressing participants via video-link at the official opening ceremony, NEPAD Chief Executive Officer, Dr Ibrahim Mayaki said “I would like to urge all participants to the symposium to think radically on how to forge strong partnerships which can tackle developmental challenges in Africa.”

The development of the private sector industry in Africa is largely hampered by the poor, unreliable and expensive energy services and this, according to NEPAD impacts negatively the agricultural and industrial productivity and output of the continent, and therefore compromises the ability of the private sector to provide sufficient jobs.

Head of NEPAD’s Energy Programme, Professor Mosad Elmissiry said the Agency’s objective was to drive bioenergy programme activities and to ensure positive results.

By Ekow Quandzie

Related Articles