African Energy Chamber’s Regulatory Affairs Committee calls for less red tape and regulation that reflects post COVID Market realities

The Chamber’s Regulatory Committee took into account how difficult it is for investors, but also for governments to adapt to the new normal. The Committee’s discussion unpacked the importance of aligning regulation across the region.

Key outcomes of the meeting included proposals to promote;

Bill Drennen, President, and CEO of WTD Resources, a board member on the committee highlighted the importance of continuous dialogue and seminars between the Chamber and regulators. According to him, the aim of regulation should ultimately be to regulate the industry in a way, that allows to maximum investment to flow into the sector and be productive and profitable for all stakeholders. “The chamber has a leadership position on the continent and is therefore perfectly positioned to drive positive change in the African Energy sector regulatory space.”

Additionally, fellow committee member Nicolas Bonnefoy, Partner at ASAFO & Co added that: “Many African countries have severe constraints such as their slow administrative processes which have delayed new regulations being introduced that will render these states competitive in a post COVID era”. According to Mr. Bonnefoy, States often implement new policies and new regimes without taking into consideration market realities and competing regimes globally, often leading to no definite positive outcome. “The Chambers’ job right now is to engage with regulators, and where they might need expertise that is not in-house, offer expertise that is available at the AEC”.

Distributed by APO Group on behalf of African Energy Chamber.

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