African countries need $150-billion of investment to realise universal electricity access by 2035, which equals $15-billion of investment every year; however, less than $2.5-billion was committed for electricity access connections in sub-Saharan Africa in 2023.
This insufficient capital is a key obstacle to expanding electricity access to the 600-million people who are without it on the continent, the International Energy Agency (IEA) states in a new report titled ‘Financing Electricity Access in Africa’.
