Tuesday, February 3, 2026
26.5 C
Lagos

Africa Power Vision Plans to Electrify 80% of Households by 2040

Africa’s electrification recently welcomed a new advocate, Africa Power Vision (APV). APV is a joint-venture established by the African Union Commission, the NEPAD agency, Nigeria’s ministry of finance, the UN Economic Commission for Africa and the African Development Bank. It aims to boost the number of people that has access to power across the continent.

“APV aims to achieve an 80% residential electrification rate by 2040 and 90% for industry/business, with sufficient energy to deliver to those connected, while also implementing off-grid solutions and making full usage of the vast renewable energy sources in Africa,” NEPAD said in a statement.

The project plans for, among other things, the construction of an 8,000km-long transmission line across Egypt, Sudan, South Sudan, Ethiopia, Kenya, Uganda, Tanzania, Malawi, Mozambique, Zambia, Zimbabwe and South Africa. The line which will greatly facilitate trade between Eastern and Southern African nations will have a capacity of 3,000MW – 17,000MW.

Establishing APV was done in the framework of the Programme for Infrastructure Development in Africa (PIDA).

-Gwladys Johnson

spot_img
spot_img
spot_img

Hot this week

CBN Publishes Fintech Report: Shaping the Future of Fintech in Nigeria

The Central Bank of Nigeria has released a comprehensive...

Stanbic IBTC Bank Nigeria PMI: New Orders Broadly Stable at Start of 2026

Nigerian companies faced a muted start to 2026. A...

Mobile Performance in Nigeria: A Significant Improvement Driven by 4G

The latest data from nPerf reveal a marked improvement...

SanlamAllianz Women’s Network Leads Charge for Inclusive Education in Eti-Osa

In a global call to action to celebrate the...

Topics

Mauritius: A Blueprint for Africa’s Future Cities

Firmly established as Africa’s most progressive business orientated jurisdiction,...

Nigerian Insurers Plan Strategic Rebranding

Operators in the Nigerian insurance sector have taken a...

ADB Provides $159m to Ethiopian Airline for Expansion

The African Development Bank (AfDB) announced in a statement...

Gbajabiamila Commends NASENI’s Technological Advancements, Product Innovations

L-R: EVC/CEO of NASENI, Mr. Khalil Suleiman Halilu; Deputy...

NAICOM Honoured with Award at Business Journal Newspaper Presentation

L-R: Mrs. Adeola Olagoke, representative of the Lagos State...

OPEC Targets 30m Barrels Per Day Production

OPEC decided to keep its output target at 30 million barrels a day Friday but left it to members to restrain their overproduction, reflecting the cartel's inability to strictly enforce its own limits in attempts to control the world supply of crude. While OPEC accounts for over a third of the world's oil, its power to determine supply and demand has been steadily eroding as outsiders capture large shares of the market. It gave up imposing quotas on individual members four years ago after these were consistently ignored.

Moniepoint Strengthens Efforts to Broaden Financial Access Through Collaborative Initiatives

Africa’s fastest growing financial institution according to the Financial...

Polaris Bank, UI, NCF to Drive Environmental Conservation, Tree Planting    

Polaris Bank Limited has collaborated with the University of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img