Urgent Call for Faster Energy Access Across Africa
Dr. Owen Omogiafo, the President and Group Chief Executive Officer of Transcorp, has underscored a critical bottleneck in Africa’s development: limited and uneven energy access. In statements reflecting the rising stakes for economic growth and social inclusion, he urged policymakers, investors, and industry leaders to accelerate the expansion of reliable power supplies across the continent. The message is clear: faster energy access is not a luxury but a necessity for Africa to compete, attract investment, and improve living standards for millions of people.
Why Energy Access Matters for Growth and Inclusion
Reliable energy underpins virtually every sector—from manufacturing and agriculture to healthcare and education. When households and firms have dependable electricity, productivity rises, costs fall, and the risk of business disruption declines. Energy access also influences job creation; industries can scale up, new enterprises can emerge, and remote regions can connect to regional and global value chains. Beyond economics, energy is a catalyst for inclusion. Electrification helps bridge urban-rural divides, supports digital learning, and empowers women and youth to participate more fully in the economy.
The Transcorp Perspective: A Leadership Call to Action
Omogiafo’s remarks highlight a practical path forward: policy coherence, investment in grid infrastructure, and incentives that attract private capital while ensuring affordability for consumers. He emphasizes that scale matters. Small, pilot projects are insufficient if they are not complemented by robust transmission networks, storage solutions, and diversified energy mixes that can weather shocks and demand spikes. The call aligns with a broader regional push to harmonize energy markets, reduce regulatory bottlenecks, and mobilize finance for large-scale projects.
Strategic Priorities for Accelerated Access
- <strongInvest in Grid Modernization: Upgrading transmission lines, substations, and distribution networks to reduce losses and expand reach to underserved communities.
- <strongDiversify Energy Sources: Combine renewables with natural gas, hydro, and other reliable options to ensure steadier supply and price stability.
- <strongEnable Private Sector Participation: Create predictable policy environments, clear procurement rules, and risk-sharing mechanisms that attract investment while protecting consumers.
- <strongImprove Access and Affordability: Targeted subsidies and tariff reforms to ensure that low-income households can access electricity without undue financial hardship.
- <strongStrengthen Regional Cooperation: Cross-border grids and regional markets to balance supply with demand and reduce costs.
What This Means for Policymakers, Investors, and Communities
For policymakers, the takeaway is to design and implement a credible, time-bound energy expansion roadmap with clear milestones and accountability. For investors, the message is to pursue long-term, low-risk opportunities in power generation, transmission, and distribution that align with sustainable development goals. For communities, accelerated energy access translates into more reliable schooling, healthcare services, and economic opportunities that lift living standards across generations.
Conclusion: A Shared Path to Growth
The call for faster energy access in Africa is not about short-term wins but about building the foundation for sustained growth and inclusive development. With decisive leadership, coordinated investment, and a focus on resilience, Africa can close the energy gap and unlock a future where growth benefits all citizens rather than a few. The time to act is now, and the opportunity is immense.
