What are the biggest challenges faced by the Compact with Africa (CWA) initiative?
The continent has great potential but also great challenges to face. We see the creation of a viable regulatory framework as a top priority. Only with transparent, lean, and clear rules will the Compact be fruitful for an inclusive growth in Africa.
How can we mobilize governments and their international partners to implement practical measures to increase private investment and infrastructure in Africa?
The “Scaling Solar Program” developed by ICF is the perfect example of what government and multilateral organizations could do together to improve the business environment in Africa.
The program has been successfully implemented in Zambia in January 2015 and will also be applied in Senegal, Ethiopia and Madagascar: its features are namely transparent rules, a robust and competitive tendering process implemented on schedule, an offer of stapled financing provided by the IFC, and risk management and credit enhancement tools to lower financing costs.
Will Enel adjust its Africa strategy in light of the Compact with Africa?
Enel Green Power is currently the largest privately owned renewable energy player in Africa. We are present in South Africa and active in Ethiopia, Morocco and Zambia. We now want to develop our business model also in eastern corridor and West Africa. The Region already represents a market of significant development for Enel, both for the potential in terms of natural resources and for positive demographic trends. In addition, access to energy is still limited in Africa, with about 600 million people still with no access to energy. There are wide margins to improve the living standards of population, improving rural electrification and investing in large scale renewable projects.
We are honored to be part of the initiative that is in line with Enel’s commitment to sustainable economic development in Africa.