Africa is brimming with renewable energy potential, yet it continues to lag in global clean energy investment, drawing just 3% of the global share despite being home to 18.8% of the world’s population. This alarming imbalance was the focus of a presentation by Dr. Beth Kimathi, Director at Edenbridge Capital (Kenya), during a recent high-level webinar hosted by the Africa-China Centre for Policy and Advisory (ACCPA) in collaboration with the Africa Climate Foundation with the theme Africa-China green finance: opportunities, risk and governance frameworks.
Dr. Kimathi pointed to Africa’s staggering resource wealth: 60% of the world’s solar resources, an onshore wind capacity of 180,000 TWh, and hydroelectric potential estimated at 340 GW, of which only 11% is currently utilized. The East African Rift Valley, she noted, is also a prime source of geothermal power, while projections from the European Investment Bank indicate that Africa could produce over 50 million tonnes of green hydrogen annually by 2035.
Despite these advantages, the continent remains significantly underdeveloped in renewable deployment, with less than 1% of global solar PV capacity installed in Africa.
“There is a disconnect between Africa’s potential and the global investment it receives,” Dr. Kimathi said, calling for a shift from “extractive finance models to transformative and equitable green investment.” She emphasized the importance of technology transfer, local manufacturing, and the co-creation of a South-South model of green cooperation that places African communities at the center of all climate projects.
China, she noted, is uniquely positioned to help close the gap. With Africa in need of capital and China’s willingness to invest, it is now critical to build strong frameworks that will ensure sustainability, fairness, and transparency.
