Clean energy: Africa’s road to affordability, sustainability, and resilience —Expert

Oreoluwa Onabowale, an accomplished finance leader with multinational experience in healthcare and energy, is helping reshape the future of clean energy financing. A member of the Association of Chartered Certified Accountants (ACCA) and currently pursuing an MBA at the globally esteemed Imperial College London, Oreoluwa has been recognized for her strategic insights in bridging infrastructure and financing gaps.

Known for her transformative impact, she combines a strong academic background—including a first-class degree in Economics—with hands-on experience, bringing both depth and innovation to her approach in critical sectors.

“Finance isn’t just about managing resources,” Oreoluwa begins, “it’s about mobilizing capital and creating funding structures that enable us to bridge the infrastructure gap and build a resilient energy future.” With Africa’s vast renewable resources and untapped potential, Oreoluwa believes that innovative financial models are key to advancing the continent’s clean energy ambitions.

Discussing her work, Oreoluwa highlights the challenges of delivering consistent energy access. “Nigeria’s clean energy transition presents unique challenges,” she explains, “with an estimated 85 million people still without reliable electricity.” Despite its size and economic influence, Nigeria has faced significant hurdles in expanding energy access, a gap that renewable energy could fill—if properly financed.

Oreoluwa has been part of initiatives to reduce the engineering and operational costs of energy projects, paving the way for affordable renewable energy solutions.

“For clean energy to be sustainable, we need financial models that not only cover initial infrastructure but make ongoing operations cost-effective,” she notes, pointing to a holistic approach that goes beyond initial investments.

Oreoluwa is a strong proponent of creative funding approaches that extend beyond traditional financing models. Blended finance, for example, combines public and private investment to create more viable funding structures. “Blended finance can mitigate risks for private investors, making clean energy projects more attractive,” she says. She references Nigeria’s Solar Power Naija initiative, which aims to bring five million solar connections to off-grid communities through concessional financing and risk-sharing partnerships—a model that demonstrates the power of public-private collaboration.

She also highlights green bonds as powerful instruments for mobilizing capital. “Green bonds are a win-win solution,” she explains. “Investors can support environmental projects and earn returns while funding renewable energy.” Nigeria’s issuance of Africa’s first sovereign green bond in 2017 exemplifies how these instruments can attract significant capital for projects that align with the Paris Agreement.

For areas where traditional grid expansion is not feasible, Oreoluwa discusses the promise of Pay-As-You-Go (PAYG) solar systems. “PAYG models allow low-income households to pay for energy incrementally, making clean energy accessible,” she says, emphasizing how such models generate steady cash flows that can attract private capital while empowering local entrepreneurs to provide energy solutions in underserved areas.

Oreoluwa also underscores the importance of community-based investments. “Engaging local communities doesn’t just ensure a demand base,” she explains, “it builds projects with local knowledge, making them more resilient.” She believes that by involving communities in the planning and execution of energy projects, Africa’s energy sector can achieve sustainable growth and long-term success.

As a finance professional deeply invested in Africa’s clean energy landscape, Oreoluwa sees strategic finance as a cornerstone of resilience. By creating financial strategies that attract diverse funding sources, reduce operational costs, and scale projects effectively, she believes energy providers can build infrastructure that endures.

“Africa’s energy journey is about resilience,” she reflects. “It’s about designing financing solutions that can adapt, endure, and ultimately transform economies.”

For Oreoluwa, Africa’s clean energy potential is boundless, and with the right financial strategies, the continent can lead the way toward a sustainable, resilient future that benefits both people and the planet.