The Executive Secretary of the United Nations Economic Commission for Africa (UNECA), Claver Gatete, lamented this Sunday, July 20, that although Africa holds 60% of the global solar energy potential, it attracts only 3% of energy financing.
“Africa is rich in solar energy but poor in investments; the continent holds 60% of the world’s solar potential but attracts less than 3% of global energy financing,” Claver Gatete said at the conclusion of the High-Level Political Forum held last week in New York.
He stressed that the continent “is not just asking for help, it is offering solutions; energy is not just a public good, it is a driver for job creation, industry, and transformation.”
More than 600 million people across Africa still lack access to electricity, with increasing energy demand due to rapid population growth, urbanization, and Africa’s industrial ambitions, the official added. “While the world talks about energy transition, much of Africa remains trapped in energy deprivation.”
Illustrating with children studying by candlelight at night, clinics operating without power, and livelihoods limited by lack of electricity, the UN economic chief in Africa emphasized that “energy poverty remains a major barrier to development across the continent” and advocated for a new model of financing investments in the sector. “We need a new energy financing deal that supports innovation, strengthens grids, and builds clean energy industries that work for both people and the planet,” proposed Claver Gatete.
Africa, he admitted, is “a paradox of potential and neglect,” hosting abundant resources such as solar, wind, hydro, and geothermal energy, yet it remains largely ignored by international investments.
Quoted in a press release, the representative reiterated that Africa’s energy transformation must move from the margins to the center of the global development agenda—not only for climate resilience but also for sustainable growth, economic justice, and shared prosperity.
The High-Level Political Forum on Sustainable Development (HLPF) is the UN’s central platform for reviewing progress on the Sustainable Development Goals (SDGs). It took place until Friday (July 18) in New York, featuring meetings and seminars that brought together governments, UN entities, and stakeholders to assess challenges and outline solutions.
Source: DE
