Friday, May 29, 2026
30.4 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
spot_img

Hot this week

Mutual Benefits Delivers Strong 2025 Financial Performance, Record Profit Growth, Balance Sheet Expansion

Mutual Benefits Assurance Plc has announced its audited financial...

Heirs Insurance Group Opens Entry for 5th Essay Championship with ₦11.5m Prizes for Students, Teachers, Schools

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has opened...

NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NAICOM Issues First Insurtech Licence, Reinforcing Commitment to Innovation, Market Integrity

L-R: Mr. Suleiman Olalekan Ajani, MD/CEO, CBI Insurtech and...

NDIC Reiterates Commitment to Strong Deposit Insurance Funding to Enhance Financial System Stability

L – R: Executive Director, Corporate Services, Nigeria Deposit...

Topics

African Leaders Reaffirm Support for Afdb as Adesina Begins 2nd Term

  African leaders have reaffirmed their support for the African...

Consolidated Hallmark Insurance: N14.3bn Assets, N10bn Premium, N4bn Claims

  From Left: Mr Eddie Efekoha, Group Managing Director/CEO; Mr...

Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

Polaris Bank's commitment to digital innovation and excellence has...

SMARTPHONES: China Ranks World N0.1, Ships 224m in 2012

China has become the world's largest supplier of smartphones...

Profit Taking in Bellwethers Drag Benchmark Index… ASI down 15bps

In yesterday’s trading session, profit taking in bellwethers - GUARANTY (-2.6%), ACCESS (-6.3%)...

Stanbic IBTC Asset Mgt Launches N20bn Infrastructure Fund Series III Issuance

Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC...

Stanbic IBTC Empowers 200 Children through its #Together4ALimb Initiative

Stanbic IBTC Holdings, a member of Standard Bank Group,...

ADB Achieves 100% Investment in Green Energy Projects in 2017

The African Development Bank achieved a 100% investment in...
spot_img

Related Articles

Popular Categories

spot_imgspot_img