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GNPC boss urges African oil and gas companies to list on local and international bourses to raise capital

The CEO of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh Danquah has said the global risk of tightening
􀁼nancial markets coupled with the clear and present danger of capital 􀁽ight out of African fossil fuel projects is a clear indication to
increase the involvement of the African FInancial sector in securing long term capital for oil and gas projects.

Clear existing obstacles for private sector to inject funds for clean energy transition

The shift from fossil fuels to clean renewable energy as the corner stone to the global energy transition has been at the tip of governments’ policy discussions across Africa and the world, with developed countries investing massively in renewable energy as part of efforts by their respective government’s energy security and climate action goals (ESI Africa, 2021).

Is wind energy becoming too expensive?

General Electric (GE) plans to make major job cuts in its U.S. wind operations and will consider its other markets too as windfarms are proving to be a major expense in the wake of Covid and the Russian invasion of Ukraine. Continued supply chain disruption and the high cost of wind turbines are deterring companies from investing in wind energy, as they look for cheaper alternatives.