His remarks came during the opening of the 2025 edition of the Global Growth Conference (GGC), held under the theme “Financing Growth, Shaping the Energy Transition”. Alj emphasized the urgent need to scale up financing across volume, diversity, agility, and complementarity, particularly through mechanisms that bring together sovereign wealth funds, private investors, and international institutions.
Harnessing Capital Markets and Green Bonds
Alj also stressed the importance of tapping into African capital markets while leveraging tools such as green bonds, which he said are particularly well-suited to Africa due to the continent’s abundance of energy transition projects.
Despite its considerable assets — including a young, rapidly growing population, 60% of the world’s unused arable land, and abundant solar and hydroelectric resources — Africa captures only 3% of global foreign direct investment (FDI) flows. The continent faces a persistent annual financing gap of $100 billion, he warned.
Creating an Attractive Investment Environment
To reverse this trend, Alj called on African governments to offer investors greater visibility, security, and return on investment, highlighting the importance of clear legal frameworks and a business-friendly environment.
Leapfrogging to Renewables
On the energy front, Alj noted that Africa has the opportunity to leapfrog directly into renewables — bypassing the long and carbon-heavy investment cycles in fossil fuels that northern countries underwent.
“To do this, our continent needs financing, ambitious public-private partnerships, and a clear, operational roadmap,” he stated.
Towards a Rabat Roadmap
Organized by the Amadeus Institute, the GGC 2025 brings together over 600 participants from more than 50 countries, including ministers, senior government officials, international and regional financial leaders, private sector representatives, institutional investors, and top-tier experts.
The outcomes of the conference will culminate in the presentation of the “Rabat Roadmap” on financing growth and energy transition — a reference document designed to provide concrete, pragmatic, and actionable recommendations for both national and international stakeholders.