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· The African Energy Chamber’s Regulatory Affairs Committee held a meeting to discuss regulatory matters that impede the African energy sector’s growth
· The meeting proposed to promote sensible and market driven local content regulation, environmental regulations that are in line with international standards that promote new exploration projects and exchanges between regulators in Africa and elsewhere
· The meeting proposed to promote sensible and market driven local content regulation, environmental regulations that are in line with international standards that promote new exploration projects
The African Energy Chamber’s Regulatory Affairs Committee held a meeting to discuss regulatory matters that impede the African energy sector’s growth. As the first meeting of the year, the consultation is designed to make proposals on progressive regulation for the post COVID recovery. The regulatory committee will identify and track global regulatory trends and make propositions to African regulators on how these could be adapted to improve the operating environment in Africa’s energy sector. The Regulatory Committee assists the Chamber in crafting propositions that lead to some changes in regulations on how to soften the impact of COVID-19 on energy companies across the continent.
The meeting proposed to promote sensible and market driven local content regulation, environmental regulations that are in line with international standards that promote new exploration projects and exchanges between regulators in Africa and elsewhere to create an awareness for alignment and exchange of best practices.
The members who took part in the discussions felt that a Bill that regulates should be such that promotes maximum investment flow into the sector, productive and profitable for all stakeholders. It also felt that the chamber, on account of its leadership position, is positioned to drive positive changes in the African Energy sector regulatory space. It also took stock of the severe constraints faced by countries, such as their slow administrative processes, which have delayed introduction of new regulations. The member states, it was felt, often implement new policies and new regimes without taking into consideration market realities and competing regimes globally, often leading to negative outcomes.
