The year 2023 saw heightened global challenges, with climate extremes and geopolitical tensions significantly impacting the global energy market. Despite renewed commitments at COP28, progress toward a sustainable energy transition remained slow. Meanwhile, the ongoing conflicts in Ukraine and the Middle East created further uncertainties in the global commodity markets, exacerbating long-term security risks for regions like Africa.

In Africa, poor macroeconomic governance hindered growth, with 21 countries facing severe debt distress by mid-2023. Countries like Nigeria and Ghana struggled with operational inefficiencies and energy disruptions, while public frustration grew due to a lack of accountability in governance. These economic and political difficulties underscore the urgent need for reforms to support sustainable development.

Amid these global and regional challenges, ACEP remained committed to its role as a thought leader and advocate for accountability in Africa’s resource governance. In 2023, ACEP strengthened regional collaboration through the inaugural Future of Energy Conference, promoted equitable distribution of extractive benefits, and raised a new generation of resource governance leaders. The organization also made significant strides in climate change governance and domestic revenue mobilization across the continent.