Foremost energy investors, Sahara group has called on participants at the UK-Africa Investment Summit to explore investing more resources in the energy needs of the continent, particularly renewable energy sources.
Sahara Group said UK and African businesses need to commit more funds to grid electricity development while ramping up investment in renewable energy to bring electricity to over 600 million people, a figure that is 10 times the population of the United Kingdom.
According to Kola Adesina, Executive Director, Sahara Group, access to power in Africa is crucial to ensuring sustainable economic growth and seamless transition to the fourth industrial revolution.
“Investment in off-grid electricity will light up homes and small businesses in rural and poor communities, mostly in Sub Saharan Africa.
This is an auspicious time for investors in the UK and across the globe to explore this opportunity which promises a win-win situation for all,” he stated.
Adesina said apart from having the potential to promote access to clean energy, off-grid electricity from renewable energy sources, including solar, wind and hydro, has the potential of becoming more affordable for more Africans in the long run.
Adesina announced that Sahara Group, with its profile as one of the largest private power business operators in Africa, was already in partnership with the United Nations Development Programme (UNDP) on a project aimed at boosting access to sustainable energy in Africa.
He concluded that governments and businesses must work together to develop and implement a plan to transform regulatory and operational issues in the power sector.
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