President Cyril Ramaphosa said fresh geopolitical tensions and the resulting supply chain and price shocks sharpen the case for regional and continental energy security, diversification and self-reliance.
The president was speaking at the Africa Energy Indaba in Cape Town on Wednesday morning, an event attended by government officials from around the continent and leaders in the energy sector.
He said the world was in a period of heightened volatility in the global energy markets, which added to the urgency for the African continent to turn rhetoric into action when it comes to energy security and multilateral trade dynamics.
“Africa is already experiencing the impact of escalating conflict in the Middle East, with strains on supply chains and higher energy prices. Now we are going to be a victim of conflicts that are taking place far away from where we are.
“As we have seen with the Russia-Ukraine conflict and during the Covid-19 pandemic, shifting geopolitical sands underscore the vulnerabilities of import-dependent economies across our continent.”
Ramaphosa was speaking at the indaba as tensions between Iran and Israel, and Iran and the US, continued to rise from the weekend, after the US conducted what it called a pre-emptive strike on the Middle Eastern country.
As the conflict escalates, key nodes for logistics and supplies, such as the Strait of Hormuz, have come under severe pressure, causing oil prices to surge.
Ramaphosa said now was the time for Africa to put its aspirations as a major exporter of finished goods to action and to turn projects into reliable power that supports industry and jobs.
“The present moment, therefore, calls for unity of effort. It calls for partnerships that recognise that Africa’s growth is not a risk to be managed, but an opportunity to be realised. It calls for a shift from potential to delivery, from promise to construction.”
He took some time to tout the G20 Summit of 2025, which South Africa hosted in Johannesburg last year, saying the meeting “broadly accepted” that countries in the global south needed to beneficiate at a higher rate.
Business Times
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