$288bn will be needed if Africa is to reach the goal of universal access to electricity by 2030. African leaders are likely to look to foreign investors, government donors and NGOs to foot a large part of this bill, but they also need to make sure any new projects have long term economic benefits for their communities - and are not just opportunities for companies to turn a quick profit.
In a continent overflowing with energy potential, it shouldn’t be hard to attract investors - both at home and abroad. The World Bank estimates 93% of Africa’s economically viable hydropower potential remains unexploited for example. Steve Robertson, a director with the energy analysis group Douglas Westwood also told the BBC that East Africa is “regarded in recent years as one of the hottest opportunities available to both independent and larger international oil companies.”
But the continent also lacks the basic infrastructure needed to make much needed energy projects feasible. This leaves a heavier burden on the project developer to bring all the necessary pieces together to make a project come to fruition. This is off-putting to foreign investors, but an even greater deterrent to local businesses who lack the resources of multinationals.
Some countries have made progress. Rwanda for example has addressed corruption, red tape and internet connectivity, but what incentives do other countries need to provide to get investors on board?
Governments need to reduce trade costs for potential investors but how do they get to this point? How can the private sector work with governments to fill the gaps in infrastructure? And how can Africa break away from negative stereotypes to highlight the unique opportunities different regions and even individual countries can offer?
On Thursday 15 January, 1-3pm GMT, join an expert panel to discuss these questions and more.
The live chat is not video or audio-enabled but will take place in the comments section (below). Get in touch via globaldevpros@theguardian.com or @GuardianGDP on Twitter to recommend someone for our expert panel. Follow the discussion using the hashtag #globaldevlive.
Panel
Andrew Herscowitz, coordinator, President Obama’s Power Africa and Trade Africa initiatives, Power Africa, Washington DC, @aherscowitz
Andrew, at USAid’s Power Africa, facilitates private investment to bring cleaner energy and electricity to millions across Africa.
Oliver Johnson, research fellow in sustainable energy, Stockholm Environment Institute, Nairobi, Kenya @SEIresearch
Oliver’s work focuses on energy transitions, particularly looking at low-carbon innovation, energy access and energy sector governance.
Christina Ulardic, head of market development Africa Swiss Re Corporate Solutions Zurich, Switzerland, @SwissRe_CS
Christina’s specialisms are weather, agriculture and energy risk transfers.
John Hawkings, programme manager, Construction Transparency (Cost), London, UK, @costransparency
John has extensively examined how to maximise the benefits of infrastructure for the poor.
David Humphrey, global head power and infrastructure, Standard Bank, Johannesburg, South Africa
David has been in banking for 15 years and currently leads the power and infrastructure team for Standard Bank.
Jacqueline Musiitwa, founder, Hoja Law Group, Kigali, Rwanda @nubiancounsel
Jacqueline’s law firm helps companies investing in Africa. She has advised Rwanda and other governments on investment, trade and infrastructure.
Dickens Kamugisha, chief executive, Africa Institute for Energy Governance (Afiego), Kampala, Uganda @Afiego.Ug
Dickens is also an advocate of the High Court of Uganda and has written widely on oil and electricity governance.
Lida Fitts, regional director (acting), Sub-Saharan Africa, U.S. Trade and Development Agency, Washington, DC, USA @ustda
Lida manages USTDA’s efforts to create bankable projects that build energy, transportation and telecommunications infrastructure across Africa.
Professor John C. Anyanwu, lead research economist, African Development Bank, Abidjan, Cote D’Ivoire @jcanyanwu
John is lead research economist in the development research department of the African Development Bank.
