Analysis: Dr. Benedict Oramah Provides Thoughtful, Balanced Insights into Africa’s Energy Future (By NJ Ayuk)

Analysis: Dr. Benedict Oramah Provides Thoughtful, Balanced Insights into Africa’s Energy Future (By NJ Ayuk)

Ahead of the November 2022 United Nations Climate Change Conference (more commonly known as COP27) in Egypt, Dr. Benedict Oramah, president and chair of Afreximbank, authored a thoughtful and compelling commentary about the economic and social impact of divestment from the production of fossil fuels in Africa.

With fossil fuel use creating 65% of greenhouse gas (GHG) emissions, divestiture is at the heart of the global climate change agenda, and many Western banks are no longer financing investments in African oil and gas.

Dr. Oramah is not a climate science denier nor a fossil-fuels-at-all-cost advocate. In his paper, he is upfront and honest about the effect rising temperatures have already had on the continent, citing the devastation brought by extreme weather events — disastrous rainstorms on one hand, catastrophic droughts on the other. He casts a wary eye on the future, recognizing that developing parts of the world like Africa are at greater risk from climate change than are developed nations.

In his commentary, “Transiting to green growth in fossil export-dependent economies: A pathway for Africa,” Dr. Oramah acknowledges that urgent climate action is vital, that the time for foot-dragging is over. https://bit.ly/3EBXuer

At the same time, Dr. Oramah doesn’t overlook the fact that