Wednesday, May 27, 2026
26.3 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

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...

CIIN Concludes Insurance Week 2026 with Awards Galore

L-R: Mrs. Ekeoma Ezeibe, President/Chairman of Council of NCRIB...

Vitality Health Becomes Discovery Health – Global Health Solutions, Strengthening Next-Generation Healthcare in Nigeria

Discovery Health has announced that Vitality Health International (Africa),...

Topics

Effective Employee Management for Profitability and Competitive Edge 

  By Kazeem Olayemi Odeyeyiwa, FCA  Expectedly, the desire of all...

Digital Encode CVO, Adewale Obadare at PAFON 3.0: Fintech Players Should Prioritise Trust over Speed to Counter Cyber Threats

L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’...

UNDP Unveils Accelerator Lab to Generate Solutions to Nigeria’s Dev Challenges

Today, the United Nations Development Programme (UNDP) officially launched...

Ecobank Nigeria Assures Customers of Uninterrupted Banking Services During Easter Public Holidays

Ecobank Nigeria, a member of Africa’s leading pan-African banking...

NSML’s Training Centre Earns UK MCA Accreditation for Courses

NLNG Shipping and Marine Services Limited’s (NSML’s) Maritime Centre...

MTN Mobile Money Excites Ghanaian Diaspora

MTN Mobile Money has become the fastest growing method...

First Bank May Sack 2,740 over Branch Downsizing

Reports N64bn Loss in 2014 First Bank Holdings Plc may sack 2, 740 staff over the planed downsizing of unprofitable branches nationwide. The bank also reported loss of N64 billion in the 2014 financial year. Mr. Bisi Onasanya, Group Managing Director/CEO, First Bank, said at the bank’s Facts-Behind-The-Figures presentation at the Nigerian Stock Exchange (NSE) that the bank will close unviable branches across the country to reduce cost. He assured however that no staff of the bank will lose his or her job in the exercise.

SSP Celebrates 30 Years in African Insurance Market

SSP is delighted to be celebrating the 30-year anniversary...
spot_img

Related Articles

Popular Categories

spot_imgspot_img