Gabriel Obiang Lima, the Minister for Finance, Economy and Planning of the petroleum-rich Equatorial Guinea says that while Uganda and Africa must adopt the energy transition to cleaner and renewable sources, the countries must find where sustainability and affordability lie.
To take advantage of Uganda’s transition towards a more diversified energy sector, Haji Lubega advised the insurance industry to innovate to address risks, by developing new insurance products tailored to green energy projects, carbon capture initiatives and clean technology investments.
International Energy Agency's report finds countries’ ambitions and implementation plans are not yet in line with key goals set at COP28, but governments have tools to step up in the coming months through NDC process.
Connecting 250 million people to electricity would open private sector investment opportunities in distributed renewable energy alone worth $9 billion. For the World Bank Group to connect 250 million people, $30 billion of public sector investment will be needed.
Tayebwa observes that counterfeit electrical products including timing switches, multi-plugs, adapters, terminal connector blocks, circuit breakers, and earth leakage devices among others are a great danger to the continent as such products can cause burns, electric shocks, and even firestorms.
