Nigeria plans solar import ban

• Solar panel manufacturing hasn't yet taken shape in Africa. Few countries like Egypt, South Africa, and Ethiopia are doing local manufacturing but still rely on imports from China to meet their demand.

• Last year, Nigeria imported 1,300 MW of solar panels from China, three times more than they did in 2022. Demand keeps growing as more than 90 million seek access to electricity.

• Our take: Nigeria should be more pragmatic and focus on strategies that gradually incentivise local production rather than resorting to an immediate import ban… Read more (2 min)

SA renewables masterplan to drive investment

• Renewable energy investments in South Africa have peaked due to the rise in grid challenges and electricity prices, as well as the growing pressure for sustainable products. South Africa leads Africa in installed renewable energy capacity, at 11,129 MW.

• South Africa has implemented several plans in the past that worked to drive investment in renewables. The Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) was one of its major successes. Projects from Bid Windows 1 to 4 injected over $10.6 billion into the local economy.

• Our take: The Masterplan promises more than just clean power, but also economic transformation that will shape South Africa… Read more (2 min)

CrossBoundary duo are our funding champions

• Matthew Tilleard (pictured on the left)  is from Australia and holds an MBA from Stanford University. Before co-founding The CrossBoundary Group, Matthew led the design of financing facilities in Afghanistan and Sierra Leone and helped set up an innovation unit for the UN Secretary-General.

• Several governments also raised money mainly from multilateral lending institutions, and some, like Ghana, provided budget allocations for the energy sector.

• Our take: Energy and tech integration is the next big market for young African entrepreneurs to explore… Read more (2 min)