African Power and Energy Outlook-2023

African Power and Energy Outlook-2023

Universal access to electricity has been central to the African development story, with power being critical to the continent's economic growth. As more than 600 million people (or 44% of the population) lack access to electricity, Africa is racing to add capacity to electrify rural communities and secure baseload supply in urban and industrial zones.

This outlook study captures the status of the African power and energy industry and Frost & Sullivan's expectations from it in 2023 (based on its observation of key trends over the past few years and anticipated future trends). The study also explores the investment avenues available for market participants during Africa's electrification drive. In addition, it examines other opportunities likely to arise on the back of the continent's efforts in terms of decarbonization and the management of the evolving power demand.

Opportunities will arise due to a net capacity addition of more than 243 GW in the pipeline, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments. Strategic partnerships and local knowledge are not only critical factors for market success but are also legal requirements.

KEY ISSUES ADDRESSED
What is the installed capacity of power generation assets in Africa, and what is the total market revenue potential?
Which major trends are impacting the continent's power and energy industry?
What growth opportunities are available for existing participants and new entrants?
What is the market revenue potential for prominent African countries?