Africa-Press – Angola. The Director-General of the African Union Development Agency – New Partnership for Africa’s Development (AUDA-NEPAD), Nardos Bekele-Thomas, on Wednesday in Luanda advocated the creation of a new continental pact to accelerate the implementation of interconnection projects and strengthen the African energy market.
Speaking at the third Summit on Financing for Infrastructure Development in Africa, Nardos Bekele-Thomas added that what is needed now is a new pact where investors bring innovative instruments to the table, not just timetables, and where everyone is committed.
According to the official, the continent has spent years identifying problems and now is the time to act in a coordinated and pragmatic way to transform plans into concrete results.
He also said that the energy deficit continues to limit Africa’s economic and industrial growth, preventing companies and communities from competing on a level playing field in regional and global markets, adding that when energy is reliable, African countries become stable.
Bekele-Thomas pointed to three fundamental disconnects hindering the sector’s progress, namely the gap between project portfolios and financing, the mismatch between political will and harmonized regulation, as well as the inadequacy of traditional financing models to the continent’s current ambitions.
Regarding this issue, he defended greater investment in the early stages of project development and forecasting studies to make them more attractive to private investment.
He stressed that the design of projects should be seen not as an administrative cost, but as an essential strategic element of investment.
Regarding financing, he called for the creation of a new architecture based on mixed financing, intelligently combining public and private capital to reduce risks and attract investors.
In her speech, Nardos Bekele-Thomas also announced that AUDA-NEPAD is advancing strategic partnerships with African philanthropic institutions and pension funds, involving mobilizing internal resources for energy infrastructure development and promoting regional interconnection corridors.
The executive stressed that cooperation with international partners, such as the European Union and Germany, represents a new pragmatism based on results and shared responsibility.
Regarding the Summit, she stated that it should mark a turning point in African understanding regarding energy.
She emphasized the need for a new pact to implement a real commitment between governments, funders, and partners to transform documents into living infrastructure that drives our industry and prosperity.
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