African countries lose 20% of GDP to power outages

Power outages in some African countries cost them 20% of GDP, a World Bank study has said.

The issue would be discussed as energy experts numbering over 800 are set to meet in the Spanish town of Barcelona to find some solutions to the deficit in Africa’s energy output.

Dubbed the Africa Energy Forum (AEF), African Ministers, heads of utilities, regulators and international energy companies are expected to address pressing issues concerning Africa’s energy sector especially in the area of power supply.

The AEF officials cited a World Bank report saying that a third of African countries grew at least 6% in 2012 despite an average power outages cost of 20% in terms of GDP to their economies.

The AEF comes-off June 18-20, 2013.

“We are delighted the forum remains an important investment tool for proactive African stakeholders looking to address the power and infrastructure investment gap head on,” Bruno Cockburn, AEF’s Programme Development Director, said in a statement.

By Dorcas Appiah