African Energy Chamber calls for greater funding support for young energy entrepreneurs

The African Energy Chamber (AEC) has called for stronger financial support for young entrepreneurs to help expand energy access across Africa after taking part in the Powering Possibility forum on June 23 in Johannesburg, South Africa.

Hosted by the African Youth Energy Network (AYEN) in partnership with South Africa’s Department of Electricity and Energy (DEE), the event brought together government officials, industry representatives, entrepreneurs and young innovators under the theme Unlocking Capital for Youth Innovation. Discussions focused on improving access to finance and increasing youth participation in the continent’s energy sector.

DEE’s acting deputy director-general Mthokozisi Mpofu opened the event by emphasising the importance of empowering young people as the future of the energy sector. Mpofu challenged stakeholders to address the question of how Africa could accelerate youth innovation while ensuring meaningful participation by young people in the continent’s just energy transition.

Delivering keynote remarks, South African Minister of Electricity and Energy Kgosientsho Ramokgopa highlighted the opportunities that can emerge from the continent’s energy challenges, the AEC said in a press release.

The minister stressed that a diversified energy mix would be essential to support industrial growth, particularly as demand for electricity rises with the expansion of AI and data centres. Reliable energy supplies, he said, would be critical to future economic development.

“Young people may already be sitting on technologies that can help expand access to electricity,” Ramokgopa said, adding that entrepreneurs should seize opportunities in the energy sector to build sustainable businesses while contributing to national development objectives.

Industry representatives also highlighted the barriers facing emerging renewable energy companies. Commodore Industries chief executive Tokologo Phetla said limited access to finance and difficulties competing with larger companies continued to constrain emerging renewable energy businesses.

Referencing experiences within South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), Phetla explained that project pricing and financing challenges were creating barriers for smaller and youth-led companies seeking to enter the market. He called for a more inclusive investment environment.

According to the AEC, a common message throughout the forum was that access to capital remained one of the biggest obstacles to youth-led innovation. Participants called for closer cooperation between governments, financial institutions, development partners and industry to create funding mechanisms that would help commercialise new energy technologies.

The AEC was represented by community manager Chuma Nobanda, communications and media liaison manager Gradie Mbono and relationship manager for the CIS region Alexey Khromov. As part of the Chamber’s commitment to empowering the next generation of energy leaders, Nobanda and Khromov served as judges for the event’s entrepreneurial pitch competition, which showcased innovative business ideas from young entrepreneurs seeking to address challenges across the energy sector.

“For us at the African Energy Chamber, it is important to create pathways for young Africans to access funding, mentorship and market opportunities that will in turn help grow energy access on the continent,” Mbono said. “Through initiatives such as the entrepreneurial pitch competition and ongoing engagement with youth-focused platforms, the Chamber remains committed to fostering the next generation of African energy leaders.”