Africa power transmission set for investment wave, says UK development bank BII

Power grids vital to expanding access to energy in Africa and transitioning to cleaner sources are poised for a growing wave of funding that governments should prepare for, according to the UK development bank British International Investment. “Transmission in terms of capital needed is the next evolution that is waiting to really take off,” Chris Chijiutomi, BII’s managing director and head of Africa, said in an interview in Cape Town Thursday. That’s because grid upgrades on the continent were typically financed with loans from the World Bank or other agencies, “but as the governments’ fiscal position has got worse” there’s been a realization that there aren’t enough funds, he said.