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Using Oil to Fund Renewables: Smart Strategy or Risky Bet for Africa?
Using Oil to Fund Renewables: Smart Strategy or Risky Bet for Africa?
Sputnik Africa
As Africa pushes to expand its fossil fuel production, countries are also investing in renewables to secure reliable energy. While oil and gas remain economic... 13.03.2025, Sputnik Africa
2025-03-13T09:37+0100
2025-03-13T09:37+0100
2025-03-13T13:59+0100
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Using Oil to Fund Renewables: Smart Strategy or Risky Bet for Africa?
Sputnik Africa
As Africa pushes to expand its fossil fuel production, countries are also investing in renewables to secure reliable energy. While oil and gas remain economic lifelines, renewables like hydropower and geothermal are reshaping the energy landscape. Experts weigh in on the balance between exports, infrastructure, and energy sovereignty.
African nations are ramping up both fossil fuel production and renewable energy investments to strengthen their economies and energy security. With rising demand for oil and gas in Asia, countries like Algeria and Nigeria see exports as an economic boost. Yet, nations such as Ethiopia and Kenya are doubling down on hydropower and geothermal energy to ensure long-term stability. The challenge remains: how can Africa balance both sectors while maintaining energy independence?Vsevolod Sviridov, Deputy Director at the Center for African Studies, HSE, Moscow, highlights that fossil fuel exports offer African nations a financial edge, especially with surging global demand. However, he warns that short-term profits must be weighed against domestic energy needs.While fossil fuels drive revenue, some believe they should serve as a financial bridge to fund Africa’s transition to renewables. Dr. Kudzanayi Chiteka, a renewable energy consultant and postdoctoral fellow at the University of South Africa, argues that regional energy cooperation and infrastructure investment are key to ensuring long-term energy security.To listen to the whole discussion, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Castbox, Pocket Casts, Afripods, Podcast Addict, and Overcast.► Check out all the episodes of Global South Pole.
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Using Oil to Fund Renewables: Smart Strategy or Risky Bet for Africa?
09:37 13.03.2025 (Updated: 13:59 13.03.2025) Aliyu Bello
Correspondent, Podcast Host
As Africa pushes to expand its fossil fuel production, countries are also investing in renewables to secure reliable energy. While oil and gas remain economic lifelines, renewables like hydropower and geothermal are reshaping the energy landscape. Experts weigh in on the balance between exports, infrastructure, and energy sovereignty.
African nations are ramping up both fossil fuel production and renewable energy investments to strengthen their economies and energy security. With rising demand for oil and gas in Asia, countries like Algeria and Nigeria see exports as an economic boost. Yet, nations such as Ethiopia and Kenya are doubling down on hydropower and geothermal energy to ensure long-term stability. The challenge remains: how can Africa balance both sectors while maintaining energy independence?
Vsevolod Sviridov, Deputy Director at the Center for African Studies, HSE, Moscow, highlights that fossil fuel exports offer African nations a financial edge, especially with surging global demand. However, he warns that short-term profits must be weighed against domestic energy needs.
“For many African countries, fossil fuel exports are a major source of revenue. Algeria, for instance, doubled its gas export revenues from $20 billion to $50 billion within just a few years. But energy sovereignty comes with a price: building independent infrastructure, ensuring stable electricity, and keeping fuel prices affordable. In the short term, selling to China and Europe may be more profitable, but in the long run, prioritizing local energy markets is essential for true independence,” Sviridov explained.
While fossil fuels drive revenue, some believe they should serve as a financial bridge to fund Africa’s transition to renewables. Dr. Kudzanayi Chiteka, a renewable energy consultant and postdoctoral fellow at the University of South Africa, argues that regional energy cooperation and infrastructure investment are key to ensuring long-term energy security.
“African nations can use fossil fuel revenues to fund large-scale renewable projects. Hydropower, geothermal, and wind energy offer long-term stability and reduce reliance on imported fuel. We need policy consistency, smart investments in modern energy grids, and a clear strategy just like Norway, which thrives in both fossil fuels and renewables. The future of Africa’s energy lies in diversification, not over-reliance on any one source,” he stressed.
To listen to the whole discussion, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.
In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Global South Pole. 
