The African Development Bank and KfW Development Bank this week said they will be partnering to accelerate implementation of recommendations contained in the 2018 Electricity Regulators Index (ERI) report for Côte d’Ivoire’s energy sector.
This partnership arrangement between the two institutions was announced during a technical workshop with key stakeholders from the West African nation’s energy sector. The workshop reviewed institutional and regulatory developments and assessed implementation of recommendations in the inaugural 2018 ERI report.
According to Wale Shonibare, Director of Energy Financial Solutions, Policy and Regulations at the AfDB, developing robust regulatory frameworks is required to ensure an enabling environment for investments in the electricity sector and to pave the path to universal access to energy in Africa.
The ERI is a diagnostic tool that highlights key areas in regulatory design and practice in Africa’s energy sector.
The index provides a simple but powerful roadmap for policy makers and regulators to take actions to improve their regulatory frameworks and the attractiveness of the sector.
The ERI is expected to become a benchmarking tool that will track progress made by African countries as they align the regulatory frameworks governing their electricity sectors with international standards and best practices.
Last year’s report, released on the sidelines of the 2018 Africa Energy Forum (AEF) in Mauritius, pointed to how the past two decades had witnessed a transformation of the electricity market in Africa following the gradual opening, liberalization, and reform of national electricity markets.