First webinar organized by Africa Investment Exchange (platform for meetings of the leading investors in Africa’s infrastructure) took place on April 30. It was dedicated to discussing results of the research conducted by the organization among the Africa energy sector experts. The research was conducted during the period from April 1 to April 29 and aimed at identifying threats and their consequences as they have arisen in connection with the spread of the COVID-19 pandemic.
The research involved representatives of public and private sectors, whose activities are related to the development of Africa countries’ energy system: public utility companies, consulting companies, investment and financial institutions, equipment suppliers and construction organizations, etc.. Speakers of the event were experts from Nigeria, Ethiopia, Uganda, West African countries, Finland and Great Britain.
Research outcomes demonstrated significant impact of the pandemic on the operations of the energy sector organizations. Almost 69% of the respondents noted high level impact of the COVID-19 pandemic consequences on the companies’ activities, about 3% of the respondents defined the situation as critical. The most significant pressure on business is determined by restrictions of the experts’ relocation, which, in its turn, complicates implementation of construction works. As a consequence, more than 75% of the experts forecast review of the projects implementation terms, as well as financial changes connected to exchange rates uncertainty.