The President of the African Development Bank (AFDB), Dr. Akinwunmi Adesina, has charged Africa to set the pace for the globe on renewable energy and green transitions.

Dr. Adesina emphasized the need for Africa to take centre stage during a media chat in Nairobi, Kenya, at the ongoing 2024 AFDB Annual Meeting.

The event, which marked the 59th Annual Assemby of the AFDB, also celebrated the 50 years of the African Development Fund (ADF) and the 60th anniversary of the AFDB.

Adesina believes that Africa has a greater advantage when compared to other regions because there is abundant potential in terms of solar energy.

“Globally, we have been talking about global energy transitions. “Everybody worries about continued CO2 emissions and the need to contain that through energy transitions and moving into more renewable energy,” Adesina said.

“Africa will drive the global agenda on renewable and green energy transitions for two reasons. We have great sunshine, which has about 11 terawatts of solar potential.

“That is the highest solar potential you have anywhere in the world. And the level of solar radiation in Africa is the highest anywhere you will find in the world.

“So, therefore, as the world now transitions into renewable energy, Africa will be front and centre in terms of harnessing the power of renewable energy to drive our world.”

Further, Adeshina said that there is huge global interest in green hydrogen, green ammonia, jet fuels, fertilizers, and other resources that require renewable energy, such as solar energy.

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He also pointed out platinum, copper, and lithium as some of the continent’s resources, arguing that Africa has a large reservoir of natural resources that can make it a key player in the fast-rising Electric Vehicle Key market.

Adesina also urged the continent to strategically utilize these resources for its transformation and assertiveness.

“And so Africa today has 90% of all the platinum in the world. It has well over 60–70% of all the copper you have worldwide,” Adesina revealed.

“50% of all the other metals, whether nickel or lithium, Africa has a massive amount of these natural metals that will determine the future of electric vehicles in the world.

“And so how Africa harnesses that for its transformation will be critical, but also critical for how Africa positions itself globally in those value chains.

“So there are potential, opportunities, and positioning issues for Africa within the context of your global electric vehicles and battery energy storage systems.”