Building regional power markets in Africa: tools & mechanisms for accelerating regional and sub-regional projects
Since 2015, the African Development Bank has made significant progress in reorganizing its operations and strengthening its internal processes to improve its overall delivery effectiveness. On 18 May 2016, the Bank Group Strategy for the New Deal on Energy for Africa (NDEA) 2016–2025 was approved by the Board of Directors of the African Development Bank Group. The aspirational goal of the NDEA is for Africa to achieve universal access to cost-effective, affordable and reliable electricity by the year 2025 (100 percent access in urban areas and 95 percent access in rural areas). The strategy also places an emphasis on encouraging clean and renewable energy solutions. The NDEA also supports the implementation of the new strategic goals of the Bank (the High 5s), namely: Feed Africa, Industrialize Africa, Integrate Africa, Improve the Quality of Life of Africans, and in particular, to Light up and Power Africa on a fasttrack, accelerated basis.