This endeavor is closely tied to the nation’s commitment to combat climate change by ensuring that all power integrated into the grid is derived from renewable sources.
President William Ruto made this groundbreaking announcement during the inauguration of Africa’s climate summit, held at the Kenyatta International Convention Centre (KICC) on Monday.
He emphasized that Kenya’s current grid already possesses a commendable green aspect, with 92 percent of its power being sourced from renewable energy.
President Ruto boldly stated that Kenya is on track to achieve a 100 percent renewable energy grid by the year 2030.
In his address to summit attendees, President Ruto highlighted the immense potential that the African continent holds in terms of mineral wealth and natural resources.
He firmly believes that Africa can fulfill its entire energy requirements using renewable resources such as wind, solar, geothermal, sustainable biomass, and hydropower.
“The continent has the inherent potential to become entirely self-sustainable through the utilization of a diverse mix of renewable energy sources,” President Ruto asserted. “In fact, Africa has the potential to evolve into a green industrial powerhouse, contributing to global net-zero strategies by 2050.”
Acknowledging the challenges ahead, President Ruto identified the critical need to bridge the investment gap in order to meet the continent’s escalating energy demands.
He advocated for stimulating private investment in energy infrastructure development by creating sufficient demand within the market.
Simultaneously, President Ruto urged summit delegates to seize the remarkable geoeconomic opportunities presented by Africa’s abundant mineral resources.
He stressed the importance of adding value to these resources through processes such as smelting, refining, assembly, and even the production of electric vehicles (EVs).
President Ruto underscored the economic potential of mining battery-critical minerals such as nickel, lithium, and cobalt, estimating a potential revenue of approximately $11 billion.
However, he emphasized that the real economic game-changer lies in value-added activities like refining these minerals into high-quality metals, which could quadruple the revenue to an impressive $50 billion.
“As we consider the entire value chain of electric vehicles, encompassing battery packs and all associated components, the market value soars to an astonishing $7 trillion,” President Ruto declared.
He concluded his address with a resounding call to action, asserting that Africa can no longer afford a limited and short-term focus on raw materials. The time has come for the continent to break free from the constraints of low ambition and seize the boundless opportunities that lie ahead.