An agreement has recently been signed between Africa50, the African Development Bank (AfDB) Investment Fund and Power Africa, a US government-led initiative for access to electricity in Africa. The purpose of this agreement is to attract investment in power generation in Africa.
These two major players have recently joined forces to improve access to electricity in Africa. The aim of this alliance is to increase investment tenfold in the construction of electricity generation infrastructure on the African continent.
The new partnership between Africa50 and Power Africa should make it possible to increase access to electricity more quickly, which is currently one of the greatest challenges facing the African continent. Both actors are very active and could contribute to meeting this challenge, which is ranked 7th in the United Nations’ (UN) Sustainable Development Goals (SDGs).
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