In an interview with Sputnik Africa on the sidelines of the 2024 Russian Energy Week (REW 2024), NJ Ayuk, CEO of the African Energy Chamber (AEC), highlighted the growing partnership between Africa and Russia, saying that there is a need for "a stronger discussion" on energy cooperation with the country.
The AEC CEO also emphasized the growing presence of African nations at Russian Energy Week, signaling a deepening partnership.
He also discussed the AEC's ongoing legal battle against European nations for discriminatory financing practices against African energy projects. Ayuk revealed that the AEC plans to file a massive class action lawsuit in early 2025.
"Why is Africa now being treated as an apartheid nation, where you use financial institutions to block any kind of investment going into the African energy sector? That is unconscionable. It is wrong. And we reject it," he stated.
Ayuk argued, "You cannot say you can finance natural gas in Europe, where energy access is not a problem… But look at a continent with poor people, no electricity, 600 million [people have] no access to electricity, 900 million [people have] no access to clean cooking. And you say they have to stay poor."
He further asserted that Africa is capable of financing its own energy future, pointing to the $2.3 trillion in private capital available on the continent. He urged the establishment of African financial institutions to access technology, expertise, and skills from partners like Russia to boost energy access across the continent.
"Russia can be a key part of that," he said. "Russia has been able to really produce natural gas without gas flaring. Russia has been able to use natural gas working with fertilizers and urea, ammonia, NPK plants and been able to drive an agricultural basis that today can feed itself, but it can also feed a lot of countries around the world."
The businessman believes that a strengthened Global South, with its significant population and increasing influence, is crucial for achieving a fairer energy transition and dialogue. This multipolar world, he argues, will enable a more just and equitable energy landscape for all.