AOP 2018 discusses privatized power sectors on its second day.
Africa Oil & Power dedicated its second day to conversations on the development of the African power sector and increasing power supply across the continent. Starting the day, South Africa’s Minister of Energy Hon. Jeff Radebe delivered a keynote speech in which he addressed the current state of South Africa’s power supply structure and the shift in its energy mix.
The minister welcomed foreign investment into the country’s power sector. “I want to reassure you that South Africa is open for business and we welcome Foreign Direct investment,” he said.
Throughout the day, AOP hosted power-focused panel discussions and country spotlights. Joining the Privatized Power Panel, moderated by Prashaen Reddy, Principal at AT Kearney were Hitoshi Nagano, Chief Representative, Japan Bank for International Cooperation; Jonathan Berman, Managing Director, Fieldstone; Akinwole Omoboriowo II, Chairman and CEO of Genesis Energy; Lloyd Manokore, Partner and Founder of Manokore Attorneys; and Jasandra Nyker, CEO of BioTherm Energy.
Improved regulations and sufficient government support was the common theme of this panel, with speakers emphasizing the importance of creating attractive investment environments. Addressing private sector investment in public projects, Manokore said it is crucial to have regulations that are tailored to the uniqueness of the market, and called for more robust regulatory frameworks. “You need a robust and forward-looking framework. Governments now understand that they must come to the party to attract investments.” he said.
The relationship between the private and public sector was another of the key topics discussed on the panel, with industry confidence being named as a key factor in driving the sector forward. At the moment “government still is suspicious of the private sector just doing what they want and the private sector is suspicious of governments,” said Berman.
The Africa Oil & Power conference continues for one more day, closing on September 7.