Monday, April 20, 2026
25.2 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

Bank of Industry Signs Strategic Partnership with RMRDC to Foster Agric Value-Chain Growth

Managing Director and Chief Executive Officer of the Bank...

CBN, FMDA Unveil Nigerian Overnight Financing Rate as New Money Market Benchmark

The Central Bank of Nigeria (CBN), in collaboration with...

Mutual Benefits Customer to Nigerians: Embrace Insurance Because it Works

A customer of Mutual Benefits Assurance Plc, Mr. Abdelhamid...

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Stanbic IBTC Asset Management Bags Top Asset Management Award 2026 by Global Banking & Finance Review

In a noteworthy achievement in Nigeria's asset management landscape,...

Topics

Ilori Appointed DG of NIA

The Governing Council of the Nigerian Insurers Association (NIA)...

FSI Marks 6 Years of Driving Innovation, Talent Development, Startup Growth Across Africa

Financial Services Innovators (FSI) has marked its sixth anniversary,...

Leadway Group Unveils Hersurred, a Lifestyle-focused Platform for Women

  In a demonstration of its commitment to Diversity, Equity,...

NIMC to Nigerians: Avoid Sharing Personal Data

The National Identity Management Commission (NIMC) has noted with...

Verve Launches ‘Live the Good Life Campaign’

  Verve, the largest domestic card scheme in Africa, recently...

Continental Re: 9th Pan-African (Re)Insurance Journalism Awards for April 12

Continental Reinsurance Plc is delighted to unveil the confirmed...

CIIN Cyber Insurance Training Program Prepares Insurers for Market Challenges

Cross section of Delegates with Council Members at the...

INEC Ready for Election as Yakubu Arrives Awka, Meets Anambra Police Chief

L-R: Commssioner of Police, Anambra State, Mr. Echeng E....
spot_img

Related Articles

Popular Categories

spot_imgspot_img