Natural Resource Rent, Financial Development, Mobile Technolo ...

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Abstract

A critical factor to successfully realize the energy transition goal is to increase accessibility to clean fuels and technology for cooking. However, a disturbingly large number of people in Africa lack access to these. Urgent efforts are needed toward increasing the number of people with access to clean fuels and technologies for cooking in Africa in a bid to attain SDG 7. This study seeks to unearth the effect of natural resource rent, financial development, mobile technology, and corruption control on access to clean fuels and technologies for cooking in Africa. Data on thirty-two countries from 2002 to 2021 was analyzed using panel fully modified ordinary least squares and dynamic ordinary least squares regression techniques. Natural resource rent reduces access to clean fuels and technologies for cooking, while mobile technology, financial development, and corruption control increase accessibility. Corruption control mitigates the negative effect of natural resources rent, financial development mitigates the effect of financial crisis, while mobile technology enhances the positive effects of financial development. There is need for African leaders to commit to fighting corruption, building a stronger financial sector on the continent, and promoting the digitalization of economic activities to enhance access to clean energy.