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Africa Energy Chamber calls for conducive environment for industry

 

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Johannesburg, SA | XINHUA | Headquartered in Johannesburg, the African Energy Chamber (AEC) on Friday called for African governments to create a conducive environment and introduce tax concessions for the sector to contribute to economic growth.

NJ Ayuk, AEC executive chairperson, made the remarks on Friday while speaking on a webinar on their 60-minute session about their services.

He pointed out that while the COVID-19 has negatively affected them, the future of the sector is bright as it would drive African economies.

“We are looking forward to partnerships that will assist in creating an inclusive African continent,” he said, adding that “governments have to create opportunities for local companies to thrive. We need to see tax reduction and supporting small industries financially who will find it difficult to come back.”

He stated that small local companies if financially supported, would create jobs and contribute to the gross domestic product of many African countries.

Ayuk said Africans have to find ways to attract investment from various parts of the world into the energy sector to grow the industry. He called on Africans in diaspora to help their continent to realize its dreams.

Sergio Pugliese, the AEC executive president in Angola, said Africa has to tap into some opportunities which exist in the continent. He believed Angola has the potential to provide hydropower energy to many countries like Namibia, South Africa and Zimbabwe which have power shortages.

“Despite COVID-19, opportunities still exist. We need to keep our eye on developing projects, both in Angola and other regions,” said Pugliese.

Leoncio Amada Nze, the AEC executive president for the CEMAC region, pointed out that for African countries to grow their economies they have to ensure there is enough power supply.

“Investing in power is certainly a factor to development. Countries can focus on a different mix of power and work towards more people having access. We need power to build a strong industry. Without power we cannot go any way,” said Nze.

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