Africa must quadruple power investment to supply electricity for all, IEA saysAfrican countries will need to quadruple their rate of investment in their power sectors for the next two decades to bring reliable electricity to all Africans, a new International Energy Agency (IEA) study published said.If African countries continue on their policy trajectories, 530 million Africans will still lack electricity in 2030, the IEA report said. It said bringing reliable electricity to all Africans would require annual investment of around Sh12 trillion ($120 billion.) Nearly half of Africans - around 600 million people - do not have access to electricity. Last year, Africa accounted for nearly 70 per cent of the global population lacking power, a proportion that has almost doubled since 2000. Some 80 per cent of firms in sub-Saharan Africa suffered frequent power disruptions in 2018, leading to financial losses that curbed economic growth.

Source: Standard Digital November 12, 2019 12:00 UTC