- June 23, 2021
- Posted by: adminer
- Category: Economics, Trade and Industry
African governments must provide an enabling environment for “crowding-in private sector investments in the electricity sector”, says the United Nations Economic Commission for Africa (UNECA).
Mr William Lugemwa, Director, Private Sector Development and Finance Division, UNECA, said this in a webinar presentation on ”Energy Prices in Africa: Transition towards clean energy for Africa’s industrialisation”, broadcast from Addis Ababa on Tuesday.
Lugemwa said at the webinar of the ministerial session on trends of energy prices in Africa, with African Ministers of Finance, that although there was growing private sector investment in electricity generation in Africa, it remained insufficient.
He also noted that the current investments in the energy supply industry was not enough to meet the growth of the continent.
“The need for investment in electricity infrastructure is urgent and must diversify electricity supply and embrace modern renewables.
“Access to affordable electricity is central to the achievement of the SDGs and Agenda 2063, important for the success of the AfCFTA and post COVID-19 recovery strategies and plans,” he said.
Lugemwa added that governments should provide incentives and mechanisms to increase the share of renewable energy in Africa’s power systems….