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Investment in the Energy Sector Expected to Continue into 2022

2020 and 2021 have seen industries and people alike adjust to the ‘new normal’ in light of the global pandemic. Investment and business came to a halt while governments and industries grappled with the impact of lockdowns on operations. However, since then enterprises and governments have slowly but surely started investing in new projects as lockdowns have been adjusted and people have adapted to the changes COVID-19 has caused. The increased spending across industries has also been a way to revitalise economies that have experienced a setback in growth, while investment in renewable energy is on the rise as more companies seek a sustainable supply of power.

Driving the growth in investment projects are the Public-Private Partnerships (PPP) that have been initiated by governments, and individual private sector initiatives to bolster industry and revive economic growth and financial performance, especially as governments have been focused on combating the pandemic which has restricted spending on essential development projects.

Throughout 2021, Cresco has seen how industry and government have worked hard to overcome the challenges that have arisen due to the global pandemic, and how the increased interest in investment has impacted numerous industries. Cresco Group Managing Director Conrad Hefer points out: “Working closely on strategic projects across Africa has given us an in-depth understanding of how industries have changed, and how different enterprises have reacted. With Cresco being awarded 138 new assignments this year we are also seeing how investment is bouncing back as the new normal sets in.”

Cresco itself has seen significant growth over the past year, working on new projects across a variety of sectors, and appointing new members to the team who will play an integral part in the ongoing success. This growth is expected to continue into the new year, especially across Africa. The projects are long-term investments into agriculture, energy, healthcare, infrastructure, mining, and real estate across the continent. One of the largest areas of investment focus is the energy sector; of the 138 new assignments awarded to Cresco this year alone, over 70 are energy projects.

In South Africa, there has been a considerable emphasis on renewable energy as a part of Environmental, Social and Governance (ESG) policies. Many companies are looking to futureproof their energy supply by creating hybrid energy models that have a considerable percentage of power being sourced from green energy sources. These energy projects are a way to provide reliable, sustainable power to industries that are key to economic growth and development such as mining and manufacturing. Over the past year, Cresco has been heavily involved in assisting clients who have a growing interest in investment into renewable energy with the planning, strategy, and procurement elements of their projects. We have helped those clients to significantly develop their planning and approach with an intention to execute those plans in the new year and into the future. Partner with a team of highly experienced financial advisors that can expertly guide your new projects from start to finish in the new year: https://www.crescogroup.africa/contact-us/

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