Bloomberg News

Africa Needs $40 Billion to Bridge Power Supply

May 11, 2012

(Corrects spelling of minister’s name in first paragraph.)

Africa needs $40 billion annually to bridge its power-supply deficit, Nigerian Petroleum Resources Minister Diezani Alison-Madueke said.

There is a $30 billion funding gap that governments can fill by making the oil and gas projects more “bankable” and ensuring “securitization” for private equity, she said at the World Economic Forum on Africa today in Addis Ababa, Ethiopia’s capital.

“Access to low-cost funds are critical in bridging this gap,” she said.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


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