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.”