IFC to curb Africa’s utility losses with new programme

The International Finance Corporation (IFC) has rolled out a new advisory programme to curb losses incurred by utility companies in Africa.

Offered by the IFC Sustainable Business Advisory team, the programme will help utility companies in Africa to optimize operations and reduce losses.

According to the IFC, the cost of inefficiency in Africa’s water and power sectors is valued at $4.5 billion annually.

“Advisory services will be offered to help utilities identify sources of system losses, develop loss reduction plans, and to mobilize finance for investments in efficiency,” the Corporation said on its website.

It added that the programme will apply lessons learned from successful experiences with IFC utility loss reduction projects in Latin America and the Caribbean.

By Ekow Quandzie