World Energy Council, COMESA sign pact to boost intra-regional trade
The World Energy Council has signed a memorandum of understanding (MoU) with the Common Market for Eastern and Southern African (COMESA) to drive regional energy integration and enhance sustainable energy access in the 21 COMESA states.
Sep 11, 2018: The World Energy Council has signed a memorandum of understanding (MoU) with the Common Market for Eastern and Southern African (COMESA) to drive regional energy integration and enhance sustainable energy access in the 21 COMESA states.
The MoU cements cooperation between the Council and COMESA and will spearhead the regional energy agenda in Africa, with the aim of promoting economic growth, intra-regional trade and infrastructure development.
Some of the major challenges identified by the Council’s members in Africa include a low level of access to modern energy, weak development of energy infrastructure, lack of financing and investment and low-level trade and energy.
The joint declaration includes a framework which seeks to address these issues by promoting energy trade and identify innovative business models, in addition to policy and regulatory solutions relevant to the energy transition.
Dr Christoph Frei, secretary general of World Energy Council, said, “Energy equity, security, environmental sustainability, resilience, and innovation are all essential mechanisms in advancing the regional energy integration agenda within Africa.”
Chileshe Mpundu Kapwepwe, secretary general at COMESA commented, “We need to double our efforts to ensure that our aspirations in this respect are attained. We are optimistic that the partnership between COMESA and the World Energy Council will help us shape the energy policy of COMESA and ultimately help spur investment in the sector.”
