From: Bamidele Fashube, Abuja
Shell has indicated interest to partner with the African Development Bank (AfDB) to increase access to cleaner energy in Africa.
Shell Vice President for Government Relations, Policy & International Organisations, Susan Shannon during a meeting with the AfDB President, Dr. Akinwumi Adesina in Hague, Netherlands said the move towards cleaner and renewable energy in African countries had resulted in a higher level of engagement by the oil giant on the continent.
“Shell can work with the African Development Bank to expand access to energy in Africa”, Shannon said.
In a statement issued by the Bank, Adesina said the African Development Bank is investing US$12 billion over the next 5 years in the energy sector, with the goal of leveraging US$40-50 billion.
While addressing a High-level Roundtable with Dutch Business Leaders, at Netherlands Enterprise Agency (RVO), Adesina presented the Africa Investment Forum (AIF), the Bank’s innovative marketplace scheduled for 7-9 November in Johannesburg, South Africa.
The AIF is expected to bring together project sponsors, lenders, fund managers and investors, to attract investment and capital for development, projects in Africa.
“Our role is to mobilise capital for Africa. We have done this through the High 5 Agenda. In the energy sector, the African Development Bank is investing US$12 billion over the next 5 years, with the goal of leveraging US$40-50 billion. The Bank will also be investing US$ 24 billion, over ten years, in agriculture to implement its Feed Africa Strategy,” Adesina said.