African energy challenges in the transition era: The role of regional cooperation

Abstract

The world is transitioning to a low-carbon economy. However, the energy challenges experienced on the African continent are yet to be tackled. The global commodity markets have revealed new challenges, especially in the energy market as it relates to African countries. This is peculiar to Africa because most African countries are energy commodity-dependent economies. This makes them more vulnerable to the recent developments in the global energy market including the impacts of energy transitions. However, to reduce the impact of lower energy prices, shifting energy trade trends, the rise of alternative sources of energy on economic performance and welfare of the people, there is the urgency for the government to regionally cooperate in implementing bold fiscal regimes, develop domestic and regional markets that will first serve Africa and lessen their vulnerability to global energy economical and commodity market vicissitudes. Energy access and economic productivity can no longer be divorced in any nation now and years to come. However, because this sector entails huge capital investments that joint collaborative strategic planning is required to address its challenges. It is upon this premise that this chapter aims to explore how and in what areas will the Economic Community of West Africa States (ECOWAS) and Southern African Development Community (SADC) cooperate their regional level as regional organizations to tackle these energy challenges in the energy transition era.