- According to a recent World Bank report, Rwanda has been singled out as a significant player in shaping Africa’s future.
- On a positive note, Rwanda was mentioned among the countries on track to achieving full energy access by 2030.
According to a recent World Bank report, Rwanda has been singled out as a significant player in shaping Africa’s future. The report titled ‘Africa’s Pulse: Leveraging Resource Wealth During the Low Carbon Transition’ is a publication of the Office of the Chief Economist in the World Bank Africa Region, focusing on the continent’s short-term economic prospects and its current development challenges. It also provides insights into potential ways to address these challenges. In the report, Rwanda is mentioned several times concerning various economic aspects.
On a positive note, Rwanda was mentioned among the countries on track to achieving full energy access by 2030. The report notes that despite progress made before the pandemic, the installation of new stand-alone off-grid systems was most affected by the pandemic, as most new connections since 2020 have been grid connections. The Rwandan government set aside $30 million to subsidize rural electrification with solar technology to address this. However, the price of the technology has increased substantially due to the pandemic, as prices of raw materials have gone up and logistics disruptions have been pervasive.
The report features Rwanda’s comprehensive national electrification strategy, reasonably-staffed national agencies responsible for electrification, strong and timely tracking procedures, and the inclusion of off-grid solutions and affordability measures. It also highlights the need for African countries to diversify their economies and move away from relying on extractive industries such as oil and gas. Instead, countries are encouraged to invest in tourism, agriculture, and manufacturing sectors, which can create more jobs and lead to sustainable economic growth in a low-carbon future.