Ruto to open Africa Energy Forum in Nairobi

President Ruto and COP28 President Sultan bin Ahmed Al Jaber will today launch a joint working group between the Africa Climate Action Summit and COP28.

The launch by Ruto and Al Jaber is part of their commitment to realising Africa's potential in the energy transition.

The Africa Energy Forum is being held in Nairobi today.

Ruto in a joint communique with Al Jaber noted that climate change is one of the greatest challenges confronting the world today. The Africa Climate Action Summit and COP28 will be critical milestones in the year.

"A critical element will be a plan to fundamentally transition the world's energy systems and vastly scale investments in clean energy," said Ruto.

The president said Africa has the potential to lead this transition and deliver enormous benefits for the region and globally. In addition to being home to one of the planet's most important carbon sinks, it is endowed with significant untapped hydro potential along the Congo and Nile rivers, geothermal potential along the Rift Valley, and solar and wind potential across the continent.

Ruto said that the continent was home to the current and next generation of climate leaders, entrepreneurs, business, and civil society that will help unlock the solutions to transformative action.

"On a continent where almost half of the population still lacks electricity, clean energy provides an opportunity to supercharge economic growth and improve lives and livelihoods," said the President.

He observed that realising this potential will require a step change noting that clean energy investment in Africa represents only 2 per cent of the global total and less than 10 per cent of the $120 billion a year that is required.

"We must transform the way we deploy public, concessional, and philanthropic capital to drive the private investment that is needed for climate action in Africa. We need to fundamentally rethink the way financiers, governments, global institutions, and technology providers engage with each other," read the communique.

"We are determined to work hand in hand to ensure COP28 and the Africa Climate Action Summit will deliver real and tangible results for the climate and for the people of Africa and the world."