Energy: The World Bank & African Dev. Bank See The White Elephant

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    Lloyd Wynn

    This week (4/17/24) the World Bank (WB) and the African Development Bank (ADB) announced a collaboration to provide access to electricity for 300 million people on the continent by the year 2030! This will reduce by 50% the number of people who currently lack access to electricity, not including those who experience intermittent service. Both Presidents Banga and Adesina (WB & ADB respectively) agreed this is not only a humanitarian issue that should be addressed immediately but absent solutions to the current energy crisis, it also impairs the potential for sustained economic transformation. President Banga stated, “[t]o me, getting electricity to people is mission one, two and three…Point is, without energy, affordable access to energy, nothing is possible.” President Adesina echoed those sentiments on the importance and priority of energy to the continent when he remarked, “…energy is like blood inside your body. You got blood, you live. Economies survive on energy”.

    This is very encouraging news (the downstream impact of energy) especially in light of the African Continental Free Trade Area and given the leadership that is emerging in Africa (Dr. Chihombori-Quao, H.E. Traore & Gen. Tchiani) there is reason for optimism.

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