African countries must scale up investments in renewable energy projects and strategically manage their oil and gas resources to achieve energy sovereignty, according to Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies (COMAC) and Africa Regional Director of the Society of Petroleum Engineers (SPE).
Dr. Oppong made the call while delivering a public lecture at the China Europe International Business School in Accra on the theme “Energy Sovereignty in the Context of the Global Energy Transition: What Africa Should Know.” He noted that although the global energy transition debate is intensifying, Africa’s oil and gas sector remains significant, placing the continent’s energy industry at a critical crossroads between development needs and climate goals.
While acknowledging the growing importance of renewable energy, Dr. Oppong stressed that oil and gas investments continue to complement these developments. He highlighted the increasing relevance of Carbon Capture, Utilisation and Storage (CCUS) technology, which was traditionally applied for enhanced oil recovery but is now being deployed to support net-zero ambitions. “CCUS was previously used mainly to capture carbon for enhanced oil recovery, but today many countries, including Saudi Arabia, are deploying it across oil, gas, and renewable sectors to meet their climate commitments,” he said. He urged African countries to explore CCUS opportunities while ensuring credible monitoring, reporting, and verification systems, particularly as global carbon regulations tighten for exports such as cement, steel, and fertilisers.
Dr. Oppong also highlighted several renewable energy projects across the continent, including Ghana’s floating solar project developed by the Bui Power Authority, Egypt’s 1.8-gigawatt Benban Solar Park, hydropower projects in Ethiopia, grid energy developments in Namibia and South Africa, and Kenya’s geothermal energy initiatives. He said these projects are critical to advancing Africa’s energy sovereignty while meeting the continent’s growing demand for energy, driven by population growth and industrialisation.
On the subject of electric mobility, Dr. Oppong emphasised Africa’s strategic advantage in hosting critical minerals required for electric vehicle manufacturing. He cautioned against the continued export of raw materials without value addition, describing it as a missed economic opportunity. He commended Ghana’s electric vehicle policy and encouraged policymakers to implement measures that would make electric vehicles more accessible to the public, noting that government support is crucial for market growth.
Dr. Oppong further advised African governments to strengthen partnerships between International and National Oil Companies, enhance local content implementation, and pursue reforms that support a balanced energy mix incorporating renewables, natural gas, and crude oil. The lecture attracted key energy stakeholders, including Mr. Benjamin Boakye, Executive Director of the Africa Centre for Energy Policy; Dr. Elvis Twumasi, Director of Research and Innovation at the Africa Sustainable Energy Centre; Dr. Victor Ekpenyon, CEO of Kenyon International; and Lesley Arthur, CEO of Cubica Energy.