Africa leads the world in mini-grid investment

Africa has secured 87% of global funding for crucial energy infrastructure, marking significant progress in the continent’s pursuit of sustainable and accessible energy solutions, a 2024 report from the World Bank and the Energy Sector Management Assistance Program (ESMAP) said.

From 2021 to 2022, the number of people benefiting from mini-grids in Africa skyrocketed from 30 million to 70 million, with Nigeria leading the charge. Over 12,000 mini-grids are currently in development across the country, making it a key player in Africa’s energy revolution and pushing forward the electrification of rural and peri-urban areas.

Of the $2.2 billion invested in mini-grids globally between 2013 and 2022, Africa received a substantial $1.9 billion. This influx of capital has been instrumental in expanding electricity access to regions underserved by traditional power grids. These mini-grids, often powered by renewable energy and storage solutions, are tailored to the continent’s unique geographical and economic challenges.

The mini-grid expansion in Africa is not just about infrastructure; it serves as a driver of socio-economic development. The continent’s leading role in this sector signals a transformative shift in addressing energy challenges, setting the stage for a more sustainable energy future.