Africa could achieve transformative economic progress by adopting China's approach to energy innovation and infrastructure development, according to Nonkululeko Nyembezi, chairperson of Standard Bank Group. Speaking at the 16th Annual Meeting of the New Champions in Dalian, Nyembezi told CGTN anchor Michael Wang that China's blend of policy coordination, technological investment, and scalable renewable energy solutions offers a blueprint for developing nations.
"China has demonstrated how strategic state-led initiatives can align with market forces to address energy poverty while reducing carbon intensity," Nyembezi observed, highlighting Beijing's success in bringing electricity to 99.8% of its population since 2015. This contrasts with sub-Saharan Africa, where 600 million people still lack reliable power access.
The discussion comes as African nations seek sustainable pathways to industrialization amid climate pressures. Analysts suggest China's experience in balancing coal phase-down timelines with wind and solar expansion – which now account for 15% of its energy mix – provides actionable insights for resource-rich but capital-constrained economies.
Nyembezi emphasized that replicating China's model requires adapting to Africa's diverse geopolitical landscape. "This isn't about copy-paste solutions," she noted, "but about learning how to sequence reforms and build institutional capacity."
