West Africa is poised for a significant leap in renewable energy access, thanks to a collaborative initiative between the World Bank and the Economic Community of West African States (ECOWAS).
A substantial $338.70 million project is underway, focusing on training and empowering Small and Medium-sized Enterprises (SMEs) in the burgeoning solar energy sector.
This ambitious program, themed “Building Sustainable Businesses in the Off-Grid Solar PV Sector,” aims to dramatically increase electricity access across the ECOWAS and Sahel regions, addressing a critical development need.
The urgency of this initiative is underscored by staggering statistics: over 406 million people reside in West Africa and the Sahel, with an estimated 28 million, predominantly in rural areas, lacking access to electricity.
This energy deficit hinders economic growth, limits educational opportunities, and impacts the overall quality of life. Recognizing this pressing issue, the World Bank and ECOWAS, along with development partners like Ecobank Nigeria, are investing in modern standalone solar technology to bridge the gap.
A pivotal aspect of the project is the training workshop, designed to equip SMEs with the necessary skills to thrive in the renewable energy landscape.
Professor Nasi Dhama, the Honorable Commissioner for the ECOWAS Commission, emphasized that the training seeks to cultivate businesses capable of expanding electricity access across Africa.
The core objective is clear: to significantly enhance electricity availability in West African nations, including Cameroon, the Central African Republic, and others.
To facilitate cross-border trade and ensure quality, a common external tariff for off-grid solar products has been adopted.
The project provides crucial access to finance for solar companies and beneficiaries. The capacity-building program is meticulously structured to provide solar technicians with technical, financial, and business management skills, enabling them to excel in the off-grid solar field.
Tunde Dadao, the Divisional Head of SME and North at Ecobank Nigeria, highlighted the anticipated positive impact on small businesses and the broader economy.
He expressed confidence that participants would gain valuable insights and growth opportunities, driving their businesses beyond expectations and contributing to economic development.
Ecobank’s involvement underscores their commitment to supporting SMEs, recognizing their vital role in the growth trajectory of any economy, especially Nigeria.
Salamatu Babatunde Shang, Team Lead of the Regional Entrepreneurship Support Facility, elaborated on the project’s scope, aiming to increase sustainable electricity access across 19 African countries, including the ECOWAS bloc and seven Sahelian nations.
The program’s support for businesses is multifaceted, encompassing training, information exchange, and access to finance.
Coordinators of the Regional Off-Grid Electricity Access Project (ROGEAP) stressed the importance of building a sustainable ecosystem for solar PV businesses.
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Funded by the World Bank and the Clean Technology Fund, with a total cost of approximately $338 million USD, ROGEAP comprises various components. The collaboration with Ecobank is instrumental in supporting SMEs within the bank’s network.
The project also conducts periodic calls for SMEs to express their interest, ensuring broader participation. These selected businesses undergo comprehensive capacity building and gain access to vital resources.
This initiative represents a significant step towards achieving energy sustainability in West Africa.
By empowering SMEs in the renewable energy sector, the World Bank and ECOWAS are not only addressing immediate energy needs but also laying the foundation for long-term economic and social development.
The project’s success will pave the way for a brighter, more sustainable future for millions across the region.
