Sahara Group has called for a fundamental shift in how Africa finances its energy transition, arguing that the continent must adopt investment models tailored to its economic realities while strengthening governance, partnerships and project development to unlock long-term capital.
The call was made at the third edition of Asharami Square, Sahara Group’s flagship thought leadership platform, held in Lagos under the theme, “Energising Africa’s Future: Legacy, Impact and Transformation.” The event brought together policymakers, regulators, financiers, academics and industry leaders to examine the financial and institutional reforms needed to accelerate Africa’s energy development.
Opening the event, Sahara Group’s Director of Governance and Sustainability, Ejiro Gray, said the company’s “Beyond XXX” vision focuses on preparing for the future rather than celebrating past achievements. She stressed that Africa’s energy transition must reflect local economic realities, development priorities and energy access needs.
Gray also underscored the role of responsible journalism in shaping public understanding of complex energy issues, calling for evidence-based reporting that explains not only what is happening but also its broader economic and social implications.
Delivering the keynote address, Sadiq Wanka, Special Adviser to the President on Power Infrastructure, said financing, not technology, has become the greatest obstacle to expanding Africa’s energy infrastructure.
According to Wanka, Nigeria’s ongoing electricity sector reforms are creating new investment opportunities across embedded generation, mini-grids, renewable energy projects, transmission infrastructure and industrial power solutions. However, he noted that attracting institutional investors will require bankable projects, predictable regulation and stronger financial structures capable of mobilising long-term capital.
A panel discussion featuring Professor Abigail Ogwezzy-Ndisika of the University of Lagos, Temitope George, Chief Executive Officer of the Lagos State Electricity Regulatory Commission (LASERC), and Kemi Awodein, Managing Director of Investment Banking at Chapel Hill Denham, concluded that Africa has substantial domestic and international capital available for infrastructure investment. The challenge, they said, lies in developing well-prepared projects supported by transparent governance and strong investor confidence.
George emphasised that project readiness significantly improves access to financing, while Awodein argued that governance remains the defining factor in attracting sustainable investment.
“Nigeria has demonstrated that domestic capital can finance transformational infrastructure at scale. The real differentiator is governance, transparency and a clear pathway to value creation,” Awodein said.
The event also marked the unveiling of the Asharami Square Energy Reporting Fellowship Judging Panel, an initiative designed to strengthen specialised energy journalism across Africa.
According to Bethel Obioma, Sahara Group’s Head of Corporate Communications, the fellowship aims to equip journalists with deeper knowledge of the technical, commercial, environmental and policy issues shaping the continent’s evolving energy landscape.
Launched in 2024, Asharami Square has become a platform for fostering dialogue between government, investors and industry stakeholders, reinforcing the growing consensus that closing Africa’s energy financing gap will require stronger institutions, credible investment frameworks and sustained public-private collaboration.
