SB Morgen warns that Power Africa’s abrupt exit, a U.S.-funded initiative boosting electricity access, may hinder Africa’s energy development. The program’s financial and technical support was vital for electrification, and its absence could stall projects and deter private investment by removing risk guarantees. The report highlights potential setbacks for the energy sector’s growth and investor confidence. It urges African governments to bolster local investment and regional power cooperation, like the West African Power Pool, while exploring green bonds and diaspora funding. Dependency on foreign aid, it cautions, risks long-term sustainability.
Source: Nairametrics
