NJ Ayuk (right), founder and executive chairman of the African Energy Chamber, signs a memorandum of understanding with Tima Networks during a forum held in Shanghai on March 13. [Photo provided to chinadaily.com.cn]
Chinese companies have been playing a critical role in Africa's accelerating process of energy transition and industrialization, and are expected to further unleash the continent's huge potential of its rich energy resources, said a top executive of the African Energy Chamber as it signed a memorandum of understanding Thursday with a Chinese firm to create a $100-million fund to drive technologies in Africa.
NJ Ayuk, founder and executive chairman of the African Energy Chamber, said during a forum held on Thursday in Shanghai that Chinese and Africans "get along very well like 'peanut butter and jelly'," highlighting Chinese investors' contribution to Africa's energy and social development. He expected further cooperation on both sides in energy sectors including the renewable energy, such as solar, wind and hydrogen powers, as well as fossil fuels like coal, natural gas and oil.
"The energy transition in Africa has to be different, and we cannot pursue it in the same way as China or Western countries have done. We have 600 million people without electricity, 900 million without clean cooking technologies, and most of them are women. Our first job in Africa right now is to provide electricity and energy access for all Africans … You have seen massive opportunities in the African energy sector today and it makes that market exciting for not just China, but for all the investors that are looking at the continent," he told China Daily.
Africa boasts rich oil and gas resources, and is particularly rich in renewable energy resources. The continent holds approximately 60 percent of the world's most optimal solar energy resources and possesses enormous wind, hydro and geothermal potential. However, Ayuk pointed out that the "regulatory environment" and "financing" are the main challenges hindering the sector's growth.
NJ Ayuk, founder and executive chairman of the African Energy Chamber, speaks at a forum held in Shanghai on March 13. [Photo provided to chinadaily.com.cn]
"Chinese investors are playing a key critical role," he said, sharing an example of a small Chinese company in Congo providing clean cooking technologies across Africa. "They take LPG (liquefied petroleum gas) from the oilfield. But instead of shipping it to China or to other markets to make something big out of it, they are selling it across Africa. It is improving Africans' lives and enabling them to use modern, cleaner and better cooking technologies -- not by cutting trees. It is protecting women's health and getting them back to work. Those are the stories that most people don't tell about China".
China and Africa have demonstrated a solid and long-standing relationship over the past six decades. China has been the continent's largest trading partner for 15 consecutive years, and the bilateral trade between the two sides exceeded 2.1 trillion yuan ($276.24 billion) in 2024. Currently, a total of 52 African nations have joined the Belt and Road Initiative, and over 10,000 Chinese companies have settled down in Africa, according to Beini Da, the chamber's chief representative of China Region.
Phuti Joyce Tsipa, South African consul general in Shanghai, noted at the forum that as the African continent accelerates its energy transition and industrialization, the Chinese firms' technical strength, financial support and project experience will become a key force in helping Africa achieve energy independence and economic growth.
Ayuk valued Africa's close connection with China, hoping to continuously drive the cooperation and ensure Africans are participating in the process and walking hand in hand with Chinese partners. During the forum, Ayuk representing the chamber signed a MoU with Shanghai-headquartered Tima Networks, aiming to support the adoption of electric vehicles and boost the technology sector in Africa.
"We always say when we go to many Western countries, we get a lecture. But when we come to China, we get a project. You (Chinese investors) have the technology, skill set and know-how. We want to learn a lot from you. Chinese investors have built infrastructure across Africa, which is benefiting African businesses built upon it. I am very excited about our future cooperation under the Belt and Road Initiative, and I think it is only going to grow bigger and stronger, as we see our people connected and B2B business backed with governments," he added.
Seeing Shanghai as a commercial and business center in China and describing it as a "futuristic city," Ayuk said that the preparation of the chamber's Shanghai office is in full swing, aiming to better connect and benefit the city, and the whole China and Africa.
