Analysis > Markets

Africa’s Energy Sector to Litigate Banks and Financiers for Financial Apartheid in Oil and Gas Sector

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In recent years, several Western banks and financial institutions have implemented policies aimed at reducing support for fossil fuel projects, especially in Africa. This has led to a sharp decline in investment in the continent’s oil and gas industry, a sector that is crucial for its economic future and energy needs. The African Energy Chamber (AEC)  argues that these institutions are practicing “financial apartheid,” arguing that while similar projects receive support in Europe, Africa’s high-cost energy projects are being neglected.