Power deficiency a key factor in Africa’s low Productivity – Awambeng

Rene Awambeng, the Founder and Managing Partner of Premier Invest, has underscored the significant role of power deficiency in hindering Africa’s productivity.

He pointed out that the absence of a reliable electricity supply stunts industrial growth, restricts business operations, and negatively impacts the continent’s overall economic development.

In a discussion on Point of View on Channel One TV, Awambeng urged for immediate investments in energy infrastructure to overcome this challenge and unlock Africa’s full potential.

He emphasised that rectifying power deficiencies is crucial for sustainable development and enhancing the quality of life for millions across Africa.

“The critical issue which is not driving Africa’s productivity is the lack of power…Can we quantify the impact which Morocco’s excess power production has had on driving the impetus of that country…Morocco has the right strategy around power generation, power production, power distribution, particularly renewables.”

“So, we cannot talk about productivity when we have not addressed the key issue of how we power. Because we cannot be competitive,” he stated.