INTERVIEW

JEAN-PIERRE FAVENNEC

Professeur IFP School, Sciences Po, Dauphine President ADEA Consultant

1. IN LIGHT OF THE CURRENT COVID-19 PANDEMIC, WHAT ARE YOUR VIEWS ON HOW THIS WILL IMPACT AFRICAN ECONOMIES GENERALLY AND YOUR INDUSTRY SPECIFICALLY?

 

The COVID-19 pandemic will have a very significant impact on African economies. From a health point of view, the pandemic is currently having a much smaller impact in Sub-Saharan Africa than in Europe and America and this is to be welcomed. The youthfulness of the population, a lower resistance of the virus to heat and the good adaptation of African countries to the epidemics that have recently hit the continent explain this situation.

However, African economies will be impacted because of their links with the European, American, and Chinese economies which are hard hit by the pandemic.

It is likely that the consumption of energy products, particularly oil products, will be affected by the crisis. On average a decrease by 5 or 10 % is to be expected. A return to normal will take place at the end of 2020 or in 2021.

Oil and gas projects will be impacted. A delay of at least one year can be
expected for projects in Mauritania and Senegal for example.

 

2. COULD YOU SHAR WITH US WHAT YOUR COMPANY HAS IMPLEMENTED TO ADAPT TO THE CURRENT SITUATION?

 

ADEA is an association that promotes energy research and information in Africa. Through the information on its website - energy-for-africa, through its video conferences, ADEA contributes to the development of reflection on energy issues in Africa.

 

3. WHAT OPPORTUNITIES DO YOU FORESEE IN THE INVESTMENT SPACE IN THE NEAR FUTURE?

 

The pandemic will slow down but will not cancel the investments in the energy sector, whether hydrocarbons, electricity, or renewables, which remain essential for the economic development of Africa.

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