Afrikan Heroes

Africa should harness its green energy potential

The need for Africa to bridge its energy deficit gap cannot be overemphasized especially with the high rate of power cuts challenges many African countries are experiencing in recent times. This is because energy poverty has effectively stunted Africa’s development, with an estimated 70 percent of people in sub-Saharan African without reliable access to electricity.

According to Dr Caleb Fundanga, former Governor, Bank of Zambia and formerly Executive Director of the Macroeconomic and Financial Management Institute (MEFMI) and former Governor, Bank of Zambia said that Africa has the potential to power itself through renewable energy, especially with solar energy. To him, the continent could become a gold mine for renewable energy due to abundant solar and wind resources. He noted that the use of smaller solar rechargeable sources of energy still remains one of the most affordable for rural African dwellers who are too poor to afford the high cost of energy.

Eric Okoruwa, Managing Director, PAC Capital Limited, noted that about 660 million of the 1.2 million Africans do not have access to electricity.  He said that in Sub-Saharan Africa, the average electricity grid access rate is a mere 20 per cent, and just seven of the continent’s countries have electricity rates that exceed 50 per cent.

Okoruwa said African leaders should strive to harness the energy potential of the continent because access to electricity is critical for development; it is vital in powering water supplies, telecommunication services, and strengthening health care and educational delivery services. “Moreover, access to power catalyses economic development in rural areas and creates more jobs and new industries,” he said.