Efosa-Austin Seeks Integrated Approach to Financing Africa’s Energy Future

By Aduragbemi Omiyale

Mrs Olamide Efosa-Austin, Head of Business Performance and JV Assets at the Nigerian National Petroleum Company (NNPC) Limited, has advocated an integrated approach to financing Africa’s energy future, arguing that the continent’s energy transition should not be framed as a choice between conventional and renewable energy.

She further stressed the importance of an approach that supports industrialisation, energy security, job creation and economic growth at the inaugural Africa Capital Week 2026, held at the Argyle Grand Hotel, Nairobi, Kenya, from September 7 to 11, under the theme, Deepening Capital Markets to Advance Africa’s Economic Sovereignty.

“Africa does not have the luxury of an either/or energy transition,” she said, calling for greater mobilisation of domestic and institutional capital alongside international investment.

She also pointed out the need to increase Africa’s share of global energy financing and ensure that capital deployed on the continent creates long-term economic value.

Business Post reports that the event brought together investors, capital-market operators, business leaders, policymakers, and regulators, including the Director General of Nigeria’s Securities and Exchange Commission (SEC), Mr Emomotimi Agama, who submitted that to unlock financing for development and improve Africa’s economic resilience, the continent’s capital markets must be robust.

Mr Agama’s submission at the programme reinforced the need for greater collaboration among African capital markets and improved investor confidence to support infrastructure and long-term economic transformation.

A key outcome of the forum was the Nairobi Declaration 2026, which outlines commitments around regulatory cooperation, greater integration of African securities exchanges, the development of an Africa Bankable Projects Pipeline and the mobilisation of institutional capital for infrastructure.

The declaration reinforces the need for stronger financial integration and more effective capital deployment across the continent.

The organisers also announced that Africa Capital Week will become an annual continental platform, with subsequent editions hosted on a rotational basis across African countries.