AFRICA INFRASTRUCTURE & ENERGY CONFERENCE | LONDON

From Investment Potential to Bankable Projects — and Towards African Sovereignty

It was a pleasure to attend the Africa Infrastructure and Energy Conference in London, hosted by Financial Markets Indaba under the theme "Mobilising Private Capital for Africa's Infrastructure and Energy." The room brought together investors, government representatives, development finance institutions, banks, project developers and industry leaders. It was a powerful day of conversations about Africa's future: not only how to attract capital, but how Africa can build greater ownership, independence and sovereignty.

The conference wasn't simply about discussing opportunities. It focused on transactions, project preparation, blended finance, legal structuring, investor engagement and the practical steps required to move projects from vision to execution, and the discussion kept returning to one question:

How can Africa transform its extraordinary infrastructure and energy potential into investable projects that reach financial close and create lasting economic and social impact?

Capital Exists — But Projects Must Be Investable

One of the strongest messages from the conference was that the challenge is not simply a shortage of capital. Institutional investors, infrastructure funds, family offices, commercial banks and development finance institutions are actively looking for credible opportunities. But capital can only move when projects demonstrate clear ownership and governance, realistic financial modelling, appropriate risk allocation, regulatory certainty, credible management teams, reliable revenue and off-take structures, and strong technical, environmental and social foundations.

The African Development Bank estimates that Africa requires between $130 billion and $170 billion of infrastructure investment every year, leaving an annual financing gap of roughly $68 billion to $108 billion. Closing that gap will take more than ambitious concepts, it requires projects that are properly prepared, professionally structured, and supported by technical studies, feasibility assessments and transparent legal frameworks. The journey from opportunity to investment begins with bankability.

Blended finance and intelligent risk-sharing came up repeatedly: many infrastructure projects deliver real economic, environmental and social benefit but don't initially meet the risk/return bar for purely commercial capital. Development finance institutions, governments, guarantee providers and philanthropic capital can absorb or mitigate early-stage, political or credit risk, not to replace private investment, but to unlock significantly more of it, with each risk allocated to whoever is best placed to manage it.

Beyond Generation: Building Energy Sovereignty

Energy was naturally at the centre of the conference. Around 600 million people across Africa still lack access to electricity, and more than a billion lack access to clean cooking. Africa also receives only a small share of global clean-energy investment, despite its resources, renewable potential and rapidly growing population.

But the message went deeper than simply generating more electricity. It was about sovereignty:

• Energy sovereignty — Africa owning and harnessing its own sun, wind, geothermal resources and green hydrogen, alongside the transmission, storage, trading and grid infrastructure to make that power usable and bankable.

• Industrial sovereignty — moving beyond exporting raw materials to owning extraction, processing, manufacturing and productisation.

• Data sovereignty — building African data centres, AI capability and digital infrastructure while retaining control of African data.

• Food and protein sovereignty — strengthening local production and reducing dependence on imports.

• Healthcare sovereignty — using solar power, battery storage and locally produced medical oxygen to serve hospitals and communities, particularly where unreliable grids and high transport costs put lives at risk.

One presentation showed how an integrated, solar-powered oxygen hub in Ghana could support hospitals and maternity care while generating income through medical oxygen, distributed supply, surplus energy and carbon credits — a good example of what "sovereignty" looks like at project level, not just policy level.

Underneath all of it is a simple point: generating electricity is only one part of the solution. Energy also has to be transmitted, traded, purchased and paid for through functioning markets — which means wheeling frameworks, regional cooperation, creditworthy off-takers and dependable payment structures.

Diaspora Investment: Turning Remittances into Long-Term Ownership

One of the most thought-provoking themes was diaspora investment. More than $100 billion flows into Africa every year through remittances — already an essential lifeline for families, education and healthcare. The opportunity is to build on that, not replace it: channelling a small proportion of these flows through transparent, regulated, professionally managed structures into renewable energy, housing, education, infrastructure and local businesses.

Through fractional ownership, regulated exchanges and accessible investment platforms, the diaspora can become more than a source of remittances — a global investment community bringing capital, expertise, technology, international networks and a deep emotional commitment to Africa's future. The African Union has already endorsed frameworks for diaspora bonds, mutual funds and similar vehicles; what's needed now is the regulation, governance, reporting and investor protection to let people participate with confidence.

Why African Capital Matters Too

International capital will keep playing an important role, but Africa can't depend on it exclusively. African pension funds, sovereign institutions, commercial banks, family offices and development institutions need to participate more in financing the continent's own infrastructure — bringing local knowledge, alignment with national priorities, and greater confidence for international co-investors. Combining domestic institutional capital, diaspora investment, development finance and international private capital builds a far more resilient financing ecosystem, and starts to shift Africa's investment narrative from dependency toward partnership and shared ownership.

Infrastructure as a Foundation for Human Development

Behind every project are people whose lives can be transformed. Reliable electricity lets children study and hospitals operate. Transport connects farmers and manufacturers to markets. Water systems improve health and dignity. Digital infrastructure connects communities to education, finance and global commerce. That's why infrastructure investment has to combine commercial discipline with a clear view of its human impact — the strongest projects are the ones that create sustainable financial value while improving lives and strengthening communities.

Close to Home

These conversations connected closely with projects already close to my heart: heat-retention cooking bags that reduce dependence on firewood and lower CO₂ emissions; building schools and expanding access to education for girls in Zimbabwe; and supporting sustainable energy and mining projects that protect communities and ensure more value, skills and ownership stay within Africa.

For me, this is what sustainable investment should represent. Not simply extracting value, but creating it locally. Not dependency, but partnership. Not short-term transactions, but long-term transformation.

From Conversations to Execution

The true value of a conference like this isn't measured by the speakers or the size of the room it's measured by what happens afterwards. Which projects get further due diligence. Which introductions become partnerships. Which structures get refined and move towards term sheets, investment committees and financial close.

Africa doesn't lack resources, talent or opportunity. The challenge is turning that potential into properly structured, bankable, investable projects that deliver both financial return and measurable impact and that means building trust, preparing projects properly, structuring balanced partnerships, and staying committed for the long term.

Relationships open the door. Bankability attracts the capital. Sovereignty creates lasting value. Execution creates the impact.

Now is the time to connect people, capital and purpose and support Africa in owning and building its own future.

Great to meet with Tolulope Omoleye-Osindero Pradeep Pursnani Phillip Stovold Tabi T. Tabi Wilhelm Zhao Afzaal Mauthoor Peter Obafemi Abiola-Oloke Atangana Ngoe Ethel Tambudzai Uche Okolie Dr. Mike Horton, DBA  and many more.

- Sten André Rigedahl