Africa cannot industrialise in the dark – EBID President

President of the ECOWAS Bank for Investment and Development (EBID), Dr George Nana Agyekum Donkor, has warned that Africa cannot achieve meaningful industrialisation without reliable and affordable energy.

Speaking at the Future of Energy Conference 2026 on Tuesday, August 26, 2026, Dr Donkor said Africa had spent decades supplying the world with raw materials while importing expensive finished products.

“We have lit up other continents while over 600 million of our own people remain in darkness. Africa cannot industrialise in the dark,” he stressed.

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He said the lack of adequate energy was affecting manufacturing, value addition, job creation, and the continent’s wider economic growth.

Dr Donkor stressed that Africa needed deliberate policies, better coordination, and significant investments in energy infrastructure to support industrial development.

According to him, EBID had already committed more than $1 billion to the energy sector across Africa as of June 2026.

“We have invested in electricity generation, both conventional and renewable, transmission and distribution projects, while also supporting fuel procurement to keep economies running,” he said.

He added that the bank planned to invest at least $2 billion in the energy sector by 2030 under its Growth, Resilience and Optimisation Strategy.

“Effective industrialisation in Africa requires a mixed energy system consisting of reliable electricity, renewable energy, natural gas, regional power pools and distributed energy solutions,” Dr Donkor said.

ANAS/MA

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Source: www.ghanaweb.com
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