At the African Refiners & Distributors Association (ARDA) event in Cape Town this week, NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC), emphasized the need for African-led financial solutions to tackle the continent’s pressing infrastructure challenges.
Speaking during the African Refiners & Distributors Association (ARDA) gathering, Ayuk highlighted Africa’s $15.7 billion infrastructure gap and urged policymakers to prioritize local investment and collaboration to fill it.
According to Ayuk, there is a significant opportunity in Africa’s own financial systems, especially the $400 billion sitting in pension funds.
He said these funds could be directed toward vital oil and gas projects such as refineries, pipelines, and power generation facilities.
With over 600 million Africans still lacking access to modern electricity and nearly 900 million without clean cooking solutions, Ayuk stressed that mobilizing capital is crucial to ending energy poverty by 2030.
He also pointed to the need for major regulatory changes across the continent.
For Africa to truly benefit from its own resources and encourage intra-continental trade, Ayuk said policies must support the easier movement of goods and people.
He argued that the biggest challenge is not coming from outside Africa, but from outdated internal rules that hold back growth and integration.
“How can we move commodities across the continent yet we struggle to move people?” Ayuk asked, pressing for better visa and immigration systems to support the free movement of both industry workers and regular citizens.
Ayuk also called on African leaders to address high tax rates on trade within the continent, which often discourage cooperation between countries.
He made it clear that competition among African nations for limited investment was counterproductive, urging a more united approach.
“We shouldn’t compete for capital amongst ourselves,” he said. “Our competition should be with international markets.”
In addition to investment and policy reform, Ayuk underlined the importance of making full use of Africa’s oil and gas reserves.
He noted that liquefied petroleum gas (LPG) and liquefied natural gas (LNG) would play a major role in improving access to clean cooking, while natural gas would be essential for generating reliable power in the years ahead.
He closed by recognizing ARDA’s work in encouraging oil and gas investment on the continent, despite global challenges posed by the energy transition.
The event, held under the theme “Africa First: Delivering Our Energy Future,” aimed to build a roadmap for energy security and industrial development through stronger investments in Africa’s downstream sector.
