As the first ever UK-Africa Investment Summit closes its doors, it is worth noting that the UK signed a series of 27 agreements with African states during this trial run. All of these projects correspond to an investment of 8.4 billion dollars and will enable the development of several sectors in Africa, particularly renewable energy.
At the end of the UK-Africa summit, held in London from January 20 to 21, 2020, the United Kingdom signed 27 agreements with African States, worth $8.4 billion. The projects concern energy, technology, infrastructure, etc. The aim of these agreements is to carry out, in partnership with African States, investments, create jobs and stimulate growth in both parties.
Aqua Africa has thus won a $33.7 million contract to supply solar-powered water filtration systems in Ghana. In Ivory Coast, it is Aggreko which has signed a contract extension worth 103.8 million dollars to supply energy. Globeleq has signed a contract worth 65 million dollars for the construction of the Malindi photovoltaic solar park in Kenya. In Uganda, Nexus Green won a $103.8 million contract to install a solar-powered water pumping system for irrigation.
In addition, the United Kingdom is also going to bring technical skills and expertise to African countries to attract investment in green energy projects. To date, it has already funded several projects in Africa, notably through the Energy Catalyst competition which has enabled the construction of solar power stations, the production of energy storage batteries and the construction of hydroelectric power stations in Botswana and Kenya. Mention can also be made of the establishment of the Nigeria 2050 Calculator to support sustainable development planning in Nigeria.
In 2040, the demand for electricity on the continent will increase by 60%. It, therefore, seems wise to multiply sources of electricity production if Africa is to meet the ever-increasing demand.