World Bank: Only Eight Countries in Africa Can Achieve Universal Electricity Access by 2030

The World Bank has predicted that only eight African countries would achieve universal electricity access by 2030.

Also the multilateral institution stated that at current rates of electrification, over half billion people in the continent would still be without electricity in 2030, unless the current electrification pace was tripled, projecting that some African countries would take over 100 years to fully electrify.

To address the challenge, the bank announced an innovative initiative to accelerate the pace of electrification in Africa to achieve universal access by 2030.

According to the statement, the World Bank, the Multilateral Investment Guarantee Agency (MIGA), the International Finance Corporation (IFC) and other development agencies would promote private investment in DRE systems to electrify targeted areas quickly and efficiently.