Africa Green Hydrogen Alliance Opportunities: $126 Billion, 4 Million Jobs
Could boost GDP up to 12% in Egypt, Kenya, Mauritania, Morocco, Namibia, and South Africa
According to a new report, by 2050, green hydrogen could increase the GDP of six African countries by $126 billion, the equivalent of 12% of these countries’ current GDP, and create up to 4 million jobs, as reported by Brinda Darasha for ZAWYA.
The report by Africa Green Hydrogen Alliance (AGHA) and McKinsey titled "Africa's Green Hydrogen Potential", said, "the continent’s abundant wind and solar potential and its proximity to key demand centers put it in a strong position to export green hydrogen and its derivatives to international markets, including Europe and Asia".
For the six current member countries of the Alliance - Egypt, Kenya, Mauritania, Morocco, Namibia, and South Africa - who plan to collaborate on developing green hydrogen projects on the continent, the opportunities are immense.
The report identifies European Union, Japan, and South Korea as priority export markets – reflecting existing infrastructure and high level of demand from existing manufacturing centres not able to fulfil all their clean hydrogen needs.
However, to realize these ambitions would require substantial investment of $450-$900 billion needed between now and 2050 and AGHA member countries' ability to supply the large number of skilled workers for the jobs likely to be created.