Overcoming Africa's Power Shortage
Power & Renewables
It has been quipped that Africa’s energy transition is a “transition from no energy to energy.” Africa’s electrification faces an immense challenge: 600 million citizens currently lack access to power, and by 2050, Africa’s population is expected to grow by an additional 1.2 billion people, thus potentially deepening the energy deficit. This pervasive energy poverty is compounded by profound economic fragility, by government policies burdening insolvent utilities and by the expectation from financiers, mostly in advanced economies, that power additions be decarbonized. For power investment in Africa to be successful, it must strike the right balance between technology, finance and governance. However, meeting these challenges also presents a great opportunity—starting with addressing the continent’s critical need for accessible, affordable and reliable power supply. Building off past success on the continent, what new models of collaboration can be adopted to facilitate and accelerate power investment?