Africa must fully leverage its vast hydrocarbon resources to accelerate development across the continent, according to N.J. Ayuk, Executive Chairman of the African Energy Chamber (AEC).
Speaking at the Invest in African Energies conference in Accra on Monday, Ayuk emphasized that Africa should not be pressured by Western nations to prematurely shift from hydrocarbons to renewables, especially when the developed world itself relied heavily on hydrocarbons to build its economies.
“Energy is a human rights issue,” Ayuk stated. “More than 600 million Africans still lack access to electricity, and they too deserve reliable and affordable energy.”
The event, hosted in collaboration with Ghana’s Ministry of Energy and Green Transition, was themed ‘Driving Investment to Develop Ghana’s Energy Potential.’ It gathered policymakers, industry leaders, and investors to explore ways to unlock investment in Ghana’s energy sector in the lead-up to Africa Energy Week, scheduled to take place in Cape Town from September 29 to October 3, 2025.
Ayuk stressed that Africa must be allowed to utilize its hydrocarbon wealth to meet the continent’s growing energy demands, arguing for a fair and just energy transition that aligns with Africa’s development goals.
“Africa contributes less than three percent of global carbon emissions,” he noted. “If any region should lead the move away from hydrocarbons, it’s the West—not Africa.”
He added that the AEC would strongly advocate for this position at the upcoming Africa Energy Week.
Ghana, he said, is well-positioned to become a key player in Africa’s energy landscape.
In a speech delivered on behalf of Ghana’s Minister for Energy and Green Transition, Dr. Matthew Opoku Prempeh, Deputy Minister Richard Gyan-Mensah highlighted the country’s immense investment potential in the energy sector.
“With over 125 billion barrels of oil and 670 million cubic feet of gas, along with significant renewable energy potential, Africa remains energy-poor due to financial, technological, infrastructure, and market challenges,” Gyan-Mensah explained.
He stressed the need for practical and effective policies to attract capital, harness resources, and bridge the energy gap.
Ghana has already taken steps by introducing a new onshore petroleum exploration and production policy, aimed at guiding future oil and gas activities.
To support its energy transition, Ghana will require more than $550 billion in investment, particularly in renewable energy development.
David Pappoe, President of the AEC, concluded by emphasizing that Africa’s energy sector is at a critical juncture and requires strategic investment across the entire value chain — upstream, midstream, and downstream.
“We are here to discuss how to bring that investment to Ghana,” he said.
