The African Energy Chamber (AEC) has reaffirmed the continent’s commitment to sustainable energy development in its Africa-Paris Declaration. Following the Invest in African Energy Forum in Paris on May 13-14, the AEC stated that financing should be at the heart of the conversation about pragmatic energy sector development, investor-led partnerships and equitable energy access for all.

Organised by Energy Capital & Power, the forum connected global investors with Africa's energy markets. It featured discussions on investment opportunities across Africa's energy sector, including renewable energy, oil and gas, and infrastructure development.

As highlighted in the World Energy Investment 2025 report by the International Energy Agency (IEA), Africa is characterised by strong regional imbalances in energy investment. South Africa and North Africa, with less than 20% of the population, receive more than 45% of energy investment and have over 65% of the continent’s installed electrical capacity. By contrast, Sub-Saharan Africa, home to most of the region’s population, receives less energy investment and has limited access to reliable electricity.

According to a press statement from the AEC on June 2, Africa’s energy future must be defined by “pragmatism, partnership and progress.”

“With 600mn Africans lacking access to electricity and 900mn without clean cooking fuel, the development imperative is clear: without investment, there can be no progress,” says the AEC.

The Forum showcased major energy investments in Africa, including ExxonMobil’s $10bn plans in Nigeria, TotalEnergies’ ventures in Mozambique and Namibia, and Eni’s gas projects in Libya and Congo. These developments show growing belief in Africa’s energy potential, but many other initiatives remain stuck owing to slow approvals, unclear regulations, and high political risk.

Some countries are improving conditions for energy investment: Nigeria’s Petroleum Industry Act has boosted investor confidence, Angola has introduced better local content rules, and Ghana’s tax changes are making upstream oil and gas projects more appealing, the AEC points out.

However, access to finance is still the biggest challenge. High global interest rates, stricter lending, and green finance rules are making funding harder to secure. The Africa-Paris Declaration called for natural gas to be recognised as a transition fuel and for sustainable investment definitions to better reflect Africa’s needs.

To unlock capital, African governments must strengthen their countries’ credit ratings, offer stable policies, and create bankable projects. A shift to private-sector-led energy systems, with less reliance on state guarantees, plus new financial tools and stronger local markets, will also be key.

“Ultimately, energy is not a privilege. It is a foundation for health, education, economic participation and human dignity,” says the AEC. “As the global energy conversation continues, Africa’s development cannot be dictated by external climate agendas. The AEC’s Declaration makes clear: Africa must lead its own energy transition, and that transition must be financed on its own terms.”