Within Algeria’s energy sector, the bank will improve governance and promote renewable energy. “The greater energy sector contribution to the country’s real economy should lead to job creation and private sector development by capitalising on the energy sector supply chain,” said the AfDB.
Africa’s energy sector is rapidly developing as it struggles to meet the demand of a growing and increasingly urbanised population and its growing industries. That has led to problems and opportunities alike for power companies, including in South Africa and Uganda.
To tackle these problems, Japan announced the investment of USD 10 billion in August this year, to improve the African energy sector, at the sixth Tokyo International Conference on African Development (TICAD), held in Nairobi, Kenya, reflecting Japan’s status as one of the largest investors in Africa.