Africa cannot industrialise in the dark – EBID President

In his address at the 2026 Future of Energy Conference in Accra, Dr George Nana Agyekum Donkor, President of the ECOWAS Bank for Investment and Development (EBID), cautioned that Africa's quest for industrialisation would remain an illusion unless the energy deficit is addressed. The theme of the conference, "Transformation: Energy Systems for Value Addition and Competitiveness," resonated with Donkor's remarks.

He lauded ACEP for the consistency of their annual dialogues that offer practical recommendations for a sustainable energy future.

Donkor highlighted the disparity between Africa's historical role as an exporter of raw materials and its import of finished goods, a pattern that has persisted despite Africa's role in powering the world. Over 600 million people in Africa remain without electricity, underscoring the continent's energy crisis. He attributed the failure of past industrialisation strategies to inadequate feasibility studies, poor planning, and infrastructure gaps, particularly the lack of reliable and affordable electricity.

Donkor emphasized that Africa cannot industrialise in the dark, stressing that an industrial revolution cannot take off without a robust and reliable energy arrangement. He cited the African Development Bank's (AfDB) data, which revealed that Africa requires US$25 billion annually to achieve universal access to electricity. Beyond access, Africa needs industrial-grade energy to support large-scale production and value addition.

EBID, recognizing the pivotal role of energy in industrialisation, has committed over US$1 billion across the energy value chain as of June 2026. This funding includes conventional and renewable power generation, transmission and distribution, and fuel procurement to support economic activity. Under its Growth, Resilience and Optimisation (GRO) Strategy, EBID aims to commit a minimum of US$2 billion to the energy sector by 2030.

Donkor called for deliberate policymaking and greater policy coordination to develop modern, reliable, affordable, and diversified energy systems capable of supporting various industries, including manufacturing, agro-processing, mining, digital industries, and urban development. He stressed the necessity of these measures to avoid repeating the failures of previous industrialisation efforts.

Despite progress in some regions, such as North Africa, where access to electricity is nearing universal levels, Sub-Saharan Africa lags behind with an average access rate of 53%, highlighting the urgent need for action.