African energy leaders urge domestic funding and sustainable transitions

At the African Energy Week 2026 in Cape Town, Victor Ekpenyong, CEO of Kenyon International, called for African nations to mobilize domestic and continental capital for energy projects. He argued that the continent must move away from a heavy reliance on foreign direct investment and international banks, suggesting that African investors should take the lead in financing infrastructure. Ekpenyong cited Nigerian industrialist Aliko Dangote as an example of attracting local investment through mechanisms like IPOs.

Separately, Ekundayo Mesagan, a professor at Pan-Atlantic University, advised oil-producing nations, including Nigeria, to reinvest fossil fuel revenues into renewable energy and green infrastructure. He emphasized the need to balance economic growth from oil and gas with global climate commitments, such as the Paris Agreement, to mitigate environmental degradation and meet net-zero targets.