According to the International Energy Agency, only 290-million people out of a population of 915-million in sub-Saharan Africa have access to electricity.
Insufficient investments are being made in developing viable energy systems, while population growth is further exacerbating the increase of people without access to electricity.
The Africa Energy Summit, which took place in Oslo, Norway, last week hosted African Energy Ministers, energy companies, investors and researchers, who highlighted the current status of energy in Africa.
The summit was organised by the Norwegian Investment Fund for Developing Countries (Norfund) and the Norwegian–African Business Association.
Ministers underlined the necessity of establishing a robust energy system, which would ensure electricity for the population and serve both the public and the private sectors.
Sub-Saharan Africa was rich in terms of energy resources, but lagged behind in terms of energy supply.
To create growth and uplift people out of poverty, summit organisers said it was essential to have access to stable electricity. Few from the developed world have taken into account the size of the challenge when developing energy systems in poor countries.
In energy aid, the focus should not be on simple and immediate measures that would provide temporary and second-class solutions for the poor, rather than to focus all effort on the core task, which was to develop good energy systems that supply the population, both public and private sectors, with stable electricity in sufficient quantities.
“It is, therefore, an urgent need in sub-Saharan Africa for long-term capital investment in infrastructure. “There is also a need for dedicated apparatus that helps to reduce the risks associated with the long investment horizon in energy developments,” said Norfund MD Kjell Roland.
Nearly 80% of all proposed energy projects are abandoned at an early stage for various reasons.