G20 members boost Africa’s energy transition with financial commitment

At the G20 Leaders’ Summit in Johannesburg, South Africa, global leaders made a significant commitment to bolster Africa’s energy transition. This initiative aims to address the continent’s longstanding energy disparities, where 600 million people lack electricity and a billion rely on harmful cooking methods. The leaders recognized energy security as a cornerstone of sovereignty, stability, and shared prosperity. They praised South Africa’s Voluntary Energy Security Toolkit, which focuses on strengthening infrastructure, modernizing grids, and developing a skilled workforce for the new energy era. The G20 pledged to triple renewable energy capacity and enhance energy efficiency by 2030. They emphasized the need to de-risk and diversify investments in energy transition technologies and infrastructure. The leaders also committed to facilitating low-cost financing for developing countries through concessional finance, blended finance mechanisms, and risk mitigation instruments. South Africa’s Minister of Energy and Electricity, Kgosientsho Ramokgopa, highlighted the urgency of affordable and accessible energy, noting that Africa requires $90 billion to $120 billion annually in transmission investments. He urged global investors to engage through partnerships rather than aid, emphasizing that the energy transition is a fight for dignity and development.