Thursday, March 12, 2026
32.4 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

Hot this week

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Union Bank of Nigeria Marks Int Women’s Month 2026 with Inclusion-First “Give to Gain” Campaign

L-R: Chief Talent Officer, Union Bank of Nigeria, Omayuli...

NAICOM: 20 Insurance Firms Seek Capital Verification Ahead July 31 Recapitalisation Deadline

The National Insurance Commission (NAICOM) says 20 operators in...

FG Inaugurates Committee on Grid Asset Management Company to Boost Power Sector

President Bola Tinubu has constituted an 11-member committee to...

Tinubu Approves Posting of 31 Career, 34 Non-Career Ambassadors

President Bola Ahmed Tinubu has approved the postings of...

Topics

Stanbic IBTC Bank Nigeria PMI: New Order Growth Hits 6-Month High in Nov

Business conditions continued to improve markedly in the Nigerian...

QUESTIONS TO ASK BEFORE BUYING OFF-PLAN PROPERTY

BY DENNIS ISONG Purchasing a property off-plan is a good...

40 Nigerian Brokers, Insurers Retool Professional Capacity at BIBA 2023

  L-R:  A Past President of the Nigerian Council of...

Oando Joins African Energy Week 2023 as Platinum Sponsor, Clean Energy Partner

    The African Energy Chamber (AEC) is pleased to announce...

Leadway Assurance Appoints Lesi, Amanwa in Strategic Leadership Transitions

Leadway Assurance Company Limited, a foremost player in the...

Nigerian Insurance Brokers at BIBA Conference 2022

L-R: Mr Ayo Akande, Hon Treasurer of The Nigerian...

A.M. Best: European Insurers Continue Emerging Markets’ Growth

In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven successful, according to a new report published by A.M. Best. Well-capitalised insurers looked to overseas investments in order to improve margins during a time when traditional domestic markets remain mature and saturated, while low interest rates are hitting investment returns, said the report, titled “European Insurers Continue Overseas Expansion Drive but More Focused in Approach.”

Stanbic IBTC Set for 3rd Edition of Youth Leadership Series

Stanbic IBTC Holdings PLC, a member of Standard Bank...
spot_img

Related Articles

Popular Categories

spot_imgspot_img