2 % of global investments in renewable energy in the past two decades were made in Africa Just
APRA offers a unique collaborative platform tailored to African needs and capabilities. It also bridges the cooperation gap between the Global North and South, a critical priority for tripling renewable energy capacity by 2030”
Countries in Sub-Saharan Africa face some of the highest costs of finance in the world, demonstrating the need for further international collaboration, including the engagement of multilateral development banks and an increased role for public finance. Through APRA, G7 members can help create an investment-friendly environment in Africa, bolstering confidence among private companies and financial institutions looking to collaborate with APRA countries. APRA also leverages African resources in support of global supply chain diversification efforts in ways that align with African interests. This means
an approach that goes beyond resource extraction, focusing instead on promoting manufacturing within the continent to spur economic growth and create jobs, aligning with Africa’s developmental objectives. As the energy transition accelerates globally, the G7’s partnership with APRA presents a pivotal opportunity to ensure that Africa is not sidelined. By leveraging Africa’s vast potential to benefit from and contribute to the global energy transition, G7 members have a unique opportunity to reimagine international cooperation through a pragmatic lens rooted in mutualism and fairness.
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globalgovernanceproject.org
2024 — G7 ITALY: THE APULIA SUMMIT
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