sub-Saharan African biofuels market to reach $229.9 million in 2017, says report

In South Africa, Frost & Sullivan is projecting that sub-Saharan African biofuels market will earn revenues of $26.9 million in 2009 and projects this to reach $229.9 million in 2017.

The group has just released its Sub-Saharan African Biofuels Market report, reporting that many countries in sub-Saharan Africa have suitable climates and available land to grow feedstock. However, delays in formulating and implementing the regulatory framework for biofuels production have been a major restraint for the development of the market. In addition, limited infrastructure in many countries remains a challenge for potential biofuels manufacturers.

“Legislating mandatory blending into a country’s fuel supply will create a secure market for biofuels,” said F&S analyst  Kholofelo Maele. “However, the present uncertainty around policy has made investors hesitant about investing in this industry, which is still in its infancy.”

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