Minister for Energy and Green Transition, John Jinapor, has urged African nations to take bold steps toward financial independence in the energy sector, emphasizing the urgent need to reduce reliance on external funding sources often burdened with unfavorable conditions.

Speaking at the opening of the 2025 Africa Energy Technology Conference (AETC) on Tuesday, May 27, in Accra, Minister Jinapor made a compelling case for the swift operationalisation of the Africa Energy Bank—a proposed continental financial institution designed to support large-scale energy infrastructure projects.

“To unlock Africa’s vast energy potential, we need capital—our own capital,” he stated. “We can no longer depend solely on external financing tied to conditions, distortions, and remnants of colonial influence. The establishment of a robust African financial market that can de-risk local projects and support major energy infrastructure must be a top priority.”

Jinapor noted that once operational, the Africa Energy Bank would become a game-changer in the continent’s energy landscape. He said the bank would enable African nations to mobilize domestic resources, manage investment risks more effectively, and retain more economic value from energy ventures within the continent.

“This is about creating a sustainable ecosystem where African resources are used to finance African development,” he added.

The 2025 AETC convened a wide range of stakeholders—including policymakers, investors, and technology experts—to explore solutions for accelerating Africa’s energy transition while fostering long-term economic resilience.

Minister Jinapor’s remarks echoed a growing consensus on the need for homegrown financial solutions that can support Africa’s transition to cleaner, more reliable, and more inclusive energy systems.