Ministers and government representatives from over 15 African countries will arrive in Washington D.C. for the 9th Powering Africa Summit (PAS24), scheduled to take place on March 5-6, 2024, at The Mayflower Hotel in Washington D.C. under the theme: Capital Flows Underpinning the Energy Transition.
They will meet government stakeholders, institutional investors, private financiers, service, and technology providers from across the U.S., to discuss Africa’s energy challenges and new investment opportunities.
High-level boardroom sessions will explore challenges and themes including lowering Africa’s cost of debt, the Sovereign Guarantee Impasse, and a more suitable future finance roadmap.
Summit sponsor and PAS24 co-host, Power Africa will help to drive much of the collaborative discussion.
The organization has allocated more than $575 million to strategic investments in the energy sector since its inception. Investments have since surpassed $25 billion, generating more than 14,000MW on the continent.
“PAS24 will provide our organization with the chance to expand our connections with both public and private sectors. Since 2013, we have harnessed the collective resources of 12 U.S. government agencies and over 200 public and private sector partners to end energy poverty in sub-Saharan Africa, helping to deliver new or improved electricity services to nearly 200 million people across that region,” Power Africa Deputy Coordinator Chris Foley said.
“However, African countries will need $200 billion annually until 2030 toto achieve their energy-related development goals , which is far more than the funding available from African governments and foreign donors,” Foley said. “With this in mind, and in line with the event’s theme, one of our main goals this year is to explore more innovative financing models to help the more than 590 million people in sub-Saharan who live without access to electricity. ”
Other speakers include Abebe Selassie, director, African Department, International Monetary Fund (IMF), who will make opening remarks at a key ministerial roundtable.
From the private sector, companies including Marathon Digital Holdings, Absa, ACWA Power, Three Cairns Group and Sun Africa will also host boardroom sessions and discussions.
“Sun Africa is dedicated to shaping the future of sustainable power in Africa, and PAS24 will be an important catalyst for transformative discussions on energy innovation and policy on the continent,” added Sun Africa’s CEO, Adam Cortese.
This year’s Powering Africa Summit will build on progress made in 2022by Power Africa initiatives, like the U.S.-Africa Clean Tech Energy Network (CTEN).
Now a PAS24 sponsor, the initiative, that is facilitating an ecosystem of cleantech companies, innovators, and researchers, is fully active, identifying trade and business opportunities, as well as market analysis, to facilitate around £350 million in deals in its first five years.
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