The World Bank has come up with an innovative initiative to accelerate African electrification to achieve universal access by 2030.

According to a statement from the bank’s website, the Multilateral Investment Guarantee Agency (MIGA), the International Finance Corporation (IFC), and other development agencies will promote private investment in Distributed Renewable Energy (DRE) systems to electrify targeted areas quickly and efficiently.

The statement read, ‘The Distributed Access through Renewable Energy Scale-Up Platform (DARES) calls for joint action by government, private investors, and development agencies to solve Africa’s immediate needs while developing DRE solutions that can be applied globally’.

SDG Seven: Ensure access to affordable, reliable, sustainable and modern energy for all

According to the World Bank, over half a billion people in sub-Saharan Africa will be without electricity by 2030 except the current electrification pace is tripled.

The bank said that present projections indicate that only eight sub-Saharan countries will achieve universal electricity access by 2030, and some will take more than 100 years to fully electrify.

The World Bank explained that lack of energy access greatly inhibits green, resilient, and inclusive development of many countries in the area, and this solution would support climate resilience, food security, and human capital development goals.

Data from the African Development Bank (AfDB) shows that over 640 million Africans have no access to energy, corresponding to an electricity access rate for African countries at just over 40 percent, which is the lowest in the world.

Also, the World Health Organisation (WHO), in its 2022 Energy Progress report, said that 568 million Africans are living without access to electricity and clean energy.

It is important for developing countries to have access to energy because it is necessary for reducing the cost of doing business and for unlocking economic potential and creating jobs.

Photo source: Seeing Through