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

IPEN Roundtable 2023: Participants to Get Free Insurance Cover

Participants who will attend the upcoming IPEN Insurance and...

Oil Will Continue to Decline’—Schlumberger CEO

The Chief executive of Schlumberger, Paal Kibsgaard says the...

Heritage Bank: NDIC Declares N24.3bn 2nd Liquidation Dividend for Depositors

Following the revocation of the banking license of Heritage...

RedStar Expands to Benin Republic

RedStar Express Plc has expanded its operations to Benin...

Nigeria Leads Ride Sharing Initiative in Africa

At the start of the last century, just one...

NCRIB to Partner State Govts to Drive Insurance Penetration in Nigeria

L-R: Mr. Tope Adaramola, Executive Secretary; Mrs. Ekeoma Ezeibe,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img