PRESS RELEASE: ARDA leaders urge Africa to establish own development finance plan to secure independent future

CAPE TOWN, 10 April 2025 – The African Refiners and Distributors Association (ARDA) has called for the urgent development of an African-led finance and energy strategy, warning that the continent must no longer be shaped by external forces.

Speaking at ARDA Week 2025, the association’s 19th annual conference, held at the Century City Conference Centre in Cape Town, ARDA President Dr. Mustapha Abdul-Hamid said Africa must now take full control of its development trajectory. The event brought together over 600 delegates under the theme ‘Africa First’, focusing on self-reliance, sustainable growth and energy security.

“The world is looking inward. Europe has unified in the face of changing global dynamics, and Africa must do the same,” declared Dr Abdul-Hamid. “We need Afrocentric solutions and bold strategies that put Africa first. For too long, our development has been defined by others. Now is the time to lead, to tell our own story, and to provide energy security for the 600 million Africans who remain energy-poor.”

ARDA Executive Secretary, Anibor Kragha, outlined a three-pronged approach to driving this transformation: bold thinking, collaboration, and prioritising African people.

“As the US President declares ‘Drill, Baby, Drill’, Africa must respond with ‘Refine, Baby, Refine’. This means substantial investment in downstream infrastructure and refining capacity,” said Mr Kragha. “Africa needs its own development finance plan—not just rhetoric but real, actionable frameworks that support long-term growth.”

Dr Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organisation (APPO), highlighted the paradox of Africa’s abundant energy resources and its lack of local benefit.

“Africa has allowed others to control and profit from our resources for decades. We export 75% of our oil and 45% of our gas, often leaving our own nations short,” said Dr Ibrahim. “But the tide is turning. We are building capacity, developing our own technologies, and taking charge of marketing. The creation of the Africa Energy Bank marks a major milestone—it is a fully independent institution designed to finance energy projects across the continent.”

The Africa Energy Bank aims to be a cornerstone of Africa’s new energy future, supporting initiatives across oil, gas, renewables, and broader infrastructure sectors.

About ARDA

The African Refiners & Distributors Association (ARDA) is a leading non-profit organisation dedicated to advancing the sustainable development of Africa’s energy sector. The mission of our community is to promote collaboration among industry stakeholders, foster innovation, and drive investment to address Africa’s energy challenges. Through its work, ARDA aims to help unlock the continent’s energy potential, reduce energy poverty, and support Africa’s economic growth.

For all press enquiries, please contact: media@afrra.org

Version française de ce communiqué de presse : CLICK HERE