How can we meet the challenges of financing the extractive and energy industries in Africa?

The issue of financing value chains in the extractive and energy industries was the focus of a high-level panel at the Salon International des Ressources Extractives et Énergétiques (SIREXE 2024). Entitled "Access to finance for the sustainable development of the extractive and energy industries", the panel brought together renowned experts to address one of the major challenges facing the sector: mobilising financial resources for inclusive and sustainable development.

Moderated by Ms Kadidiatou, Director and Managing Director of Hudson & Cie, an internationally recognised expert, this session brought together influential figures from the financial and energy sector, including Denis Charles Kouassi, Managing Director of IPS, Jérôme Ehui, President of the Association des Professionnels des Banques et Établissements Financiers de Côte d'Ivoire (APBEF-CI), Josiane Kwenda, Regional Representative of the International Finance Corporation (IFC), Mr Zakaria Dosso, Managing Director of AEICORP, Jean Michele Ette, Managing Partner of Keys Finance, Oumar Tembely, Director of Energy and Natural Resources at BOAD and Fatmi Kouassi, Managing Director of IPS. Zakaria Dosso, Managing Director of AEICORP, Jean Michele Ette, Managing Partner of Keys Finance, Oumar Tembely, Director of Energy and Natural Resources at BOAD and Fatmi Squalli, Group Project Finance Director, Attijariwafa Bank.

During the discussions, the speakers shared their perspectives on the financial levers needed to boost value chains, while incorporating sustainability and inclusion criteria.

Among the main recommendations and announcements, they mentioned access to capital for small and medium-sized enterprises (SMEs) in the extractive value chains, which are often marginalised in traditional financing, strengthening public-private partnerships (PPPs) to attract significant investment in critical infrastructure, mobilising green financing and innovative instruments to align projects with climate and environmental objectives, ensuring rigorous financial governance, which is essential to reassure local and international investors, and
developing specific financial tools, such as mining or energy bonds, to meet the specific needs of the sector.

The speakers stressed the importance of combining economic efficiency with social and environmental responsibility. Value chain financing must not only support extraction and production, but also generate economic benefits for local communities and stimulate the energy transition.

In short, the panel laid the foundations for closer collaboration between financial institutions, governments and companies in the extractive and energy sectors. The discussions revealed a shared desire to find concrete solutions to overcome financial obstacles and accelerate sustainable development.