Africa Has Abundant Potential in Renewable Energy, Trades, Exports – Prof. Adegoke

By Yemi Olakitan

Africa has abundant renewable energy resources to harness it’s energy needs in order to achieve zero emissions by the second half of this century or even earlier.

This was the submission of Professor Jimmy Adegoke, senior consultant at Climate Change and Green Growth Department, (PECG) Africa Development Bank, he was delivering a keynote address at the Food for West Africa (Food4WA).

He noted that, the African Development Bank reveals that intra African trade constituted a meagre 17% of total African exports in 2017 compared to intra European trade of 69%, Asian trade of 59% and North American trade of 31%.

However, the African agricultural and food market is expanding quickly as indicated by World Bank projection that shows that the value of Africa agricultural and agribusiness industry is expected to more than triple and reach USD 1 Trillions by 2030.

He also noted that the African continental Free Trade has a vision to accelerate intra Africa trade and boost Africa trade and African trading position in the global market.