12 October 2026 – Forvis Mazars Group, the international audit, tax and advisory services partnership, has released the latest edition of its flagship report on the African Energy sector: « Powering Africa’s Future 2026: Infrastructure, energy security and the energy transition in Africa». The study provides policymakers, investors, and industry stakeholders with valuable insights regarding the trends shaping Africa’s energy future. It offers an in-depth perspective on the continent’s energy realities through analyses from our experts across Forvis Mazars’ African offices. Their knowledge of local markets offers a vision that is both pragmatic and firmly rooted in on-the-ground realities.
Key findings :
Africa is emerging as a key player in the global energy sector
The emergence of new producing countries, regional energy hubs, and major projects such as Nigeria’s Dangote Refinery highlights Africa’s growing commitment to processing its natural resources domestically, increasing value creation, and enhancing its energy independence.
The strategic priority of producing countries is increasingly shifting from expanding production volumes toward creating greater local value through refining, petrochemicals, logistics, and local content.
The convergence of energy, technology, and mineral resources offers Africa a major opportunity to strengthen its position in the global economy.
Uhabia Ojike, Country Leader, Forvis Mazars in Nigeria & Regional Lead Energy & Infrastructure, emphasises: “Africa’s energy transition depends on its ability to move from isolated projects to integrated energy systems delivered at scale. Resources create potential, but infrastructure delivery turns that potential into economic value.”
With around 1.49 billion people, 991 TWh of electricity generation and 82.4 GW of installed renewable capacity in 2025, Africa’s energy market is expanding rapidly. Yet infrastructure remains the critical constraint – from electricity grids and regional interconnections to pipelines, refining, storage and ports, the report underlines.
It also highlights a major shift across Africa’s oil and gas markets: the focus is moving beyond production towards local value creation. New offshore developments in countries including Senegal, Côte d’Ivoire, Namibia and Uganda are reshaping the continent’s oil landscape, while major refining investments – particularly the Dangote refinery in Nigeria – demonstrate the potential to transform locally produced resources into greater economic value.
On the other hand, the study points out that Africa’s renewable energy transition is gaining momentum, adding that renewable sources generated approximately 27.5% of the continent’s electricity in 2025, with solar and wind among the fastest-growing technologies.
Ibra Ndiaye, Partner, Forvis Mazars in Senegal and Regional Lead Oil & Gas, says : “Africa has the energy resources to power its next phase of economic development. The challenge is turning those resources into reliable, affordable and accessible energy. The next decade will be defined by the continent’s ability to invest, connect and create more value locally.” The study also identifies critical minerals as an opportunity to move beyond resource extraction. This means Africa’s cobalt, copper, lithium, graphite and manganese resources could support new industrial value chains if investment expands into processing, refining, battery manufacturing and related technologies.
