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
spot_img

Hot this week

Stanbic IBTC Reinforces Capital Markets Leadership Through Dangote Refinery IPO

Stanbic IBTC Holdings Plc has reinforced its position as...

CBN Bags NES Distinguished Organisation Award for Economic Reforms

The Central Bank of Nigeria (CBN) has received the...

Leadway Assurance Backs ISSP Initiative to Deepen Insurance Penetration, Consumer Trust

Leadway Assurance, Nigeria’s leading insurance services provider and a...

RMB Nigeria Advises on BOI’s N274.18bn Domestic Bond Issuance

L-R: Head, Debts Capital Markets, RMB Nigeria, Laju Atake;...

LG Electronics Highlights Seven Home Appliances at IFA 2026

As routines and lifestyles evolve across Europe, consumers are...

Topics

Leadway Assurance, CubeCover, Vitse Technologies Sign on as Official Partners for IMT 5.0

Insurance Meets Tech (IMT), West Africa’s premier platform for...

Interswitch Champions Digital Transformation for the Energy Sector

L-R: Godwin Okoduwa, Head, LPG Sales & Marketing, Falcon...

Insurance Industry Most Resilient, Fast Expanding Sector in Nigeria –IICC Chairman

The Chairman, Insurance Industry Consultative Council (IICC), Mr. Edwin...

Headline Inflation Tops 18.3% in October 2016

The National Bureau of Statistics (NBS) released the inflation...

Interswitch, Visa Partner on Digital Payment across Africa

Interswitch Limited, a leading technology-driven company focused on the...

Union Bank Pledges Improved Access to Capital for SMEs

Union Bank of Nigeria has reiterated its commitment to...

Guinness Nigeria Reports N30bn 1st Qtr Revenue

Guinness Nigeria announced its first quarter results for the...

Stanbic IBTC Bank PMI: Business Activity Falls for First Time in 8 Months

The Nigerian private sector moved back into contraction territory...
spot_img

Related Articles

Popular Categories

spot_imgspot_img