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Energy

 

Africa is often referred as the Dark Continent given the limited availability of electricity for both commercial and domestic consumption. With nearly 1 billion people, Africa accounts for over a sixth of the world's population, but generates only 4% of global electricity. Africa’s dream of industrialization is hinged on efficient electricity supply. At the moment most consumers resort to self-help for their electricity need and the consequences in business costs are enormous. The World Bank reckons that 500m sub-Saharan Africans are without what it calls “modern energy”. The significant amount of energy requirements in Nigeria and Africa comes from natural resources. It has huge amounts of Coal, Oil and Gas reserves.

Africa was pumping an estimated 9.0 million barrels per day (bpd) of oil into the 85 million bpd world market, and the world demand for oil and gas is projected to grow by 47.5%, and 82% by 2030 respectively. Africa's proved oil reserves were 101.8 billion barrels or 8.87 per cent of world reserves. Beyond the natural resources, there are equally immense potentials in the renewables. We believe that as much as new investment is possible. It should come from firms created by Africans themselves. DFC is constantly challenged by these gaps in the energy sector and we see them as huge business opportunity. These potentials and the growth factor to the African economies underpin our desire to play in this industry. We have positioned our subsidiary DFC Energy Serve and our affiliate company; Genesis Electricity Limited to significantly harness the opportunities in this sector. Our strategic business interest includes power generation, oil servicing and trading, refineries as well as coal mining. We have formed strategic partnerships and business alliances to complement our competencies.

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