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South African Deputy President  Calls for Maximizing Africa’s Natural Resources at Africa Oil Week

South Africa’s Deputy President, Shipokosa Paulus Mashatile, delivered a keynote address today at the Africa Oil Week conference held in Cape Town. In his speech, Deputy President Mashatile emphasized the importance of maximizing Africa’s natural resources to drive economic growth, development, and energy security across the continent.

The conference, which has been in existence for 29 years, brought together government officials, industry leaders, and experts to discuss the theme of “Maximizing Africa’s Natural Resources in the Global Energy Transition.” 

This theme reflects the pressing need for Africa to harness its abundant resources to meet energy demands, combat poverty, and address developmental challenges.

Deputy President Mashatile began his address by highlighting the shared vision articulated in Agenda 2063 – “The Africa We Want.” 

He stressed the importance of an Africa that contributes to its growth and development, emphasizing peace, stability, and opportunities for all its people.

Recognizing the critical role of the oil and gas sector in shaping Africa’s future, Mashatile noted the challenges posed by energy shortages in South Africa and the continent as a whole. 

He emphasized the need for urgent action to address the energy crisis, highlighting its adverse effects on economies, businesses, and communities.

Mashatile commended the efforts of African countries in pursuing regional integration and the Africa Free Continental Trade Area agreement to boost intra-African trade and investment. 

He called for partnerships and economic development initiatives in the oil and gas sector to further support the continent’s growth.

The Deputy President emphasized the significance of the Africa Investment Forum, hosted by the African Development Bank, as a platform to bridge investment gaps and support developmental goals across Africa.

Mashatile acknowledged Africa’s wealth of resources and their contribution to global economic growth. However, he highlighted the paradox of resource-rich nations facing high levels of poverty and underdevelopment. 

He urged the conference to explore how Africa’s resources could empower and uplift its nations.

Regarding the global climate change crisis, Mashatile advocated for a balanced approach that considers Africa’s development needs while addressing carbon emissions. 

He stressed the importance of carbon management techniques and a transition period that allows Africa to continue its development while introducing renewable energy sources.

The Deputy President expressed hope that the Africa Oil Week conference would provide a strategy for achieving individual and collective goals, contributing to broader development objectives, including the Sustainable Development Goals 2030 and the African Union’s Agenda 2063.

Deputy President Mashatile’s address at Africa Oil Week emphasized the need for Africa to harness its natural resources responsibly and strategically to drive economic growth and development while addressing critical energy and climate challenges. 

The conference aims to serve as a platform for fruitful discussions and collaborations to maximize opportunities and achieve shared goals across the continent.

This story has been adopted from the South African Government.

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