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Home Business The energy market in Sub-Saharan Africa will quadruple by 2040

The energy market in Sub-Saharan Africa will quadruple by 2040

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2015W11.1By 2040, the market for electricity in Sub-Saharan Africa (SSA) will have grown significantly with projections by McKinsey & Company showing annual electricity consumption reaching 1,600 terawatt hours – about four times the consumption in 2010. From a global perspective, SSA’s electricity consumption in 2040 will be equivalent to the combined 2010 values of India and Latin America. McKinsey further projects that electrification rates will be in the region of 70% to 80% of the population in SSA – a significant increase from 32% in 2010. Read more here…

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