Overview
Energy is the backbone of modern economies, and Africa’s growth trajectory hinges on reliable and affordable power. In recent remarks, Dr. Owen Omogiafo, President and Group Chief Executive Officer of Transcorp, underscored the urgent need to expand energy access across the continent. He warned that without a rapid scale-up in energy supply, Africa risks slow growth, reduced competitiveness, and widening inclusion gaps.
Why faster energy access matters for Africa’s growth
Access to electricity is directly linked to improved productivity, healthcare, education, and job creation. Rural and peri-urban communities often bear the brunt of energy scarcity, limiting small business activity and dampening investment. Dr. Omogiafo’s call aligns with a broader consensus among policymakers and development partners: closing the energy gap is not just a technical challenge but a strategic imperative for shared prosperity.
Economic stimulus through reliable power
Stable power reduces overtime costs for manufacturers, enables cold chains for agriculture, and supports digital services that rely on uninterrupted connectivity. For Africa, expanding energy access can unlock value across sectors, attract investment, and improve trade competitiveness. When households and firms can depend on a dependable electricity supply, consumer demand grows, and local suppliers scale up to meet it.
Inclusion and resilience
Energy access is a powerful equalizer. It affects education outcomes, health services, and gender equality by enabling women and girls to study at night, operate small businesses, and access vital information. Moreover, diversified energy sources—combining grid expansion with off-grid solutions—improve resilience against shocks such as droughts, fuel price volatility, and natural disasters.
Strategic actions for rapid deployment
Dr. Omogiafo’s remarks point to a multi-pronged strategy that governments, private sector, and development partners can pursue now. The goal is to accelerate project delivery, reduce costs, and mobilize finance for large-scale energy access initiatives.
Scale-up infrastructure investment
Priority areas include upgrading transmission networks, expanding generation capacity, and ensuring grid reliability. Public-private partnerships can mobilize capital for solar, wind, hydro, and natural gas projects, while ensuring affordability for households and small businesses. Streamlining permitting and regulatory processes will shorten timelines from project signing to energization.
Boost off-grid and mini-grid solutions
Off-grid networks and pay-as-you-go models offer a pragmatic path to reach remote communities quickly. These solutions can complement grid expansion, delivering electricity access where traditional grids are slow to reach. Integrating mini-grids with local appliance manufacturing and service delivery can spur community-led development and job creation.
Finance and policy innovation
Low-cost financing, blended finance, and guarantees can de-risk investments in energy access. Governments can provide policy certainty—clear tariffs, transparent procurement, and predictable incentives—to attract private capital. Regional power pools and cross-border interconnections can improve pricing, reliability, and energy security for member countries.
What success looks like
Consensus indicators of success include higher electricity access rates, reduced time-to-connect for new customers, and improved reliability metrics such as fewer outages. Equally important are economic indicators: rising small business activity, job creation in the energy and manufacturing sectors, and broader access to digital services. Dr. Omogiafo’s call emphasizes that energy access is not a stand-alone goal but a catalyst for inclusive growth across Africa.
Conclusion
Expanding energy access rapidly is essential for Africa to realize its growth potential. Dr. Owen Omogiafo’s advocacy highlights the urgency and the shared responsibility of public and private sectors to act decisively. By pursuing scalable infrastructure, embracing off-grid solutions, and innovating finance, Africa can accelerate development and ensure that the benefits of growth reach every community.
