The African Development Bank (AfDB) plans to invest US$12 billion in an energy programme intended to power Africa.
The investment stems from the need to ‘act speedily to accelerate the plans to light up and power Africa’, as stated by AfDB president Akinwumi Adesina during the annual Africa Energy Market Place (AEMP), according to an Asoko Insight report.
‘The bank has made a US$12billion investment commitment to its new deal on Energy for Africa programme. Sub-Saharan Africa currently has 14% of the world’s population and accounts for 4% of global energy investment,’ he added. ‘Analysts at the bank note that several countries – including Ethiopia, Gabon, Ghana and Kenya – are on track to reaching universal electricity access by 2030.’
Jacques Chevalier, Côte d’Ivoire Cabinet of Petrol and Renewable Energy Development Ministry director, says the AEMP is integral to addressing the continent’s energy and electricity production and consumption.
