Investing in Solar in sub-Saharan Africa Today For a Trillion Dollar Tomorrow: The GDP Boost Effect.
According to the IEA achieving energy access for all will require a $90 billion investment in off-grid
Solar will power 95% of the population gaining access from that off-grid investment
95% of that investment will be directed to sub-Saharan Africa
The 15x multiplier effect of a GDP return on investment in power supply results in over $1,000,000,000,000 in incremental GDP
Africa’s bright future is in the hands of its emerging class of young entrepreneurs and professionals, who stand to benefit from opportunities never before seen on the continent. The 60 percent of the population who are under the age of 35 will lead the charge in delivering what will be a dramatic energy shift. And, based on estimates from the IEA, up to 90% of the $90bn global investment required in off-grid electricity could be directed to solar in Sub-Saharan Africa.
The projected economic boost of $1 trillion in incremental GDP is only part of the story. Investment in solar energy will bring about a social revolution that will lead to healthier and more fulfilling lives.
Nancy Pfund is Founder and Managing Partner of DBL Partners, a venture capital firm whose goal is to combine top-tier financial returns with meaningful social, economic and environmental returns in the regions and sectors in which it invests.
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