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The Future of Africa's Energy
One in three Africans today do not have access to electricity. About 87% of those without electricity live in rural areas. A large number of people who are connected find that it is unreliable and many who lack access depend on kerosene lamps, generator kiosk and battery-powered torches for their energy needs. The lack of energy access is costing African economies about $60.52 billion, which constitutes 4% of its GDP. Electricity can increase household per capita income by 39 percent, therefore plugging the energy deficit offers a huge opportunity for economic transformation.
Many argue that renewable energy, specifically distributed energy systems, presents the strongest proposition of connecting the over 600 million sub-saharan Africans that lack electricity. Distributed energy systems such as solar home systems and mini-grids provide an opportunity for Africa to leapfrog its energy challenges and connect the last mile. Doing this will benefit several industries such as healthcare where darkness plagues hospitals and clinics. Agriculture will also enjoy significant benefits with improvement in production and storage. Globally, at least 4.5 million jobs could be created by the off-grid value chain by 2030. Africa will be home to 80 percent of the world’s off-the-grid population by 2030.
On the 11th of July, Techcabal is convening African governments, regulators, investors, development agencies, multinationals and entrepreneurs to discuss The Future of Africa’s Energy. We will be attempting to answer the question “How do we quickly build a modern energy infrastructure that is affordable and provides last-mile access using abundant renewable energy resources in a friendly policy environment?”
Coming soon – stay tuned
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