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56 Low-carbon Africa: leapfrogging to a green future Country case studies
pathway. It is therefore important for other complementary
policy and regulatory measures to be put in place to address
other barriers, such as:
• constraints to technology transfer – for example, as a
result of barriers to foreign direct investment, limited
capacity to adopt and learn from new technologies,
intellectual property rights or behavioural inertia
• informational constraints relating to technology availability
and associated benefits and costs, including uncertainty
about future energy prices
• capacity constraints across sectors to identify and
develop low-carbon alternatives
• institutional constraints relating to slow development of
markets.
The private sector has a key role to play in plugging financing
gaps that will inevitably exist even with the establishment of
a leapfrog fund. However, to be able to attract much-needed
private capital, investors would first look to see whether the
investment environment is ideal and safe enough before
venturing into any business. The GEDAP project is seeking
to create the enabling policy and regulatory environment to
help attract private capital. It remains to be seen the extent
to which the GEDAP can succeed in doing this.