> MIGA (World Bank):
Energy in Africa - The Many Sides of Sustainability By Antonio Barbalho
Africa is booming—mostly. Much of the continent has experienced strong and sustained economic growth over the last two decades. Many countries have also been shielded from the recent Great Recession due to favorable commodity prices and relatively weak ties to the advanced economies that have come into difficulty.
D
evelopment indicators for health and education have improved significantly. But Africa is a diverse region and its growth is multi-speed. The continent’s most fragile countries have experienced low and irregular growth, largely as a result of conflict. And serious development challenges 80
remain in a continent where governance and transparency are weak; infrastructure is underfunded; health and education indicators are still poor in comparison to other regions; and the energy deficit is high. While some have argued that energy is a strong contender for the most viable route to development, it is important CFI.co | Capital Finance International
to note that only one third of people living in subSaharan Africa have access to power. As the political risk insurance arm of the World Bank that provides guarantees to the private sector, we underline that the sector has been a powerful instrument in bridging the region’s