We share with you some thoughts on energy poverty in Africa by Antoinette Sayeh, director of the African Department of the IMF. See Antoinette Sayeh: No time to reduce aid to Africa (Financial Times, 3 November).
“Electricity output in sub-Saharan Africa (excluding South Africa) has been stagnant for years and, as a result, the entire region, with close to 700m people, generates only as much power as Argentina, with 40m…”
“There is a risk that slower global activity will reduce the appetite for African exports and the supply of financing, possibly accompanied by lower remittances and tourism inflows. Donor financing might also come under pressure. Not only will this hamper development, it will also make it harder to find private investors for badly needed energy projects, and diminish the public sector’s capacity to finance them.
“Financing energy infrastructure is thus likely to be more difficult and costly. While all options need to be explored, investment decisions must be embedded in a sound macroeconomic and debt sustainability framework.”
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