Meeting Africa's Energy Needs: The Case for a Multilateral Approach to Nuclear Power

Africa faces a critical challenge in meeting its escalating demand for electricity while nuclear power can mitigate such an issue on the continent. Mr. Enobot Agboraw, the Executive Secretary of the African Commission on Nuclear Energy (AFCONE), has underscored this need and the importance of multilateral approach in African nuclear energy sector in the Africa Nuclear Business Platform Lite 2023. With a current population of 1.4 billion and projections indicating a doubling by 2050, the imperative for accessible, reliable energy is indisputable.

Africa has been actively exploring renewable energy sources, particularly solar and wind power, given its abundant resources in these domains. However, a substantial drawback looms: the intermittent nature of renewables renders them unsuitable for providing consistent base load power.

Hydropower is another potential base load source, but it encounters geographical constraints. Not all regions possess the requisite river or dam infrastructure for effective utilization. Consequently, the question arises: How can Africa secure a dependable base load power supply?

Nuclear energy emerges as a rational solution, offering continuous base load power that is impervious to weather conditions or geographic limitations. Nuclear energy can play a tremendous role alongside renewables in electrifying  Africa and industrializing the continent. Nevertheless, the adoption of nuclear energy in Africa presents formidable challenges.

Foremost among these challenges is the significant capital investment required for the establishment of nuclear power plants. African nations, constrained by economic limitations, currently lack the financial capacity for independent project financing. Furthermore, banks exhibit reluctance to finance nuclear power ventures due to associated risks. Therefore, the main nuclear projects that could take place in Africa need the exporting country to provide financial backing such as the El Dabaa project in Egypt where Russian will find approximately 85% of the construction cost.

Underscoring the need for a multilateral financing approach. Collaborative funding minimizes the risk for financial providers, ensuring responsible and secure development.

To put this in context, the development of a nuclear program in Africa entails a minimum of 15 years, encompassing three distinct phases. These challenges collectively emphasize the imperative of a multilateral approach to surmount these obstacles effectively.

Africa, often termed the "dark continent" due to its energy deficits, cannot attain development without a reliable electricity supply. A multilateral approach is indispensable not only for powering the continent but also for achieving crucial objectives like 'Agenda 2063,' a strategic framework for the socio-economic transformation of Africa over the next 50 years. It is also a pivotal strategy for advancing progress toward net-zero targets, aligning with Africa's principles of cooperation and mutual support.

A multilateral approach to nuclear power can pave the way for regional integration, foster peace and security, ultimately driving industrialization and enhancing socio-economic conditions. This collaborative effort will generate employment opportunities and alleviate hunger, ushering in an era of prosperity for African nations.

Considering these considerations, it is imperative to explore potential support providers for Africa's nuclear programs. The BRICS+ group of nations could emerge as suitable partners in this endeavor. Additionally, institutions such as the World Bank and the IMF should reconsider their stance on financing nuclear power programs in Africa, acknowledging the potential of nuclear energy in combating climate change and limit the uses of fossil fuels.

Once the initial capital investment is recouped, nuclear energy emerges as one of the most cost-effective power options, offering long-term energy security. It is a pragmatic path toward a brighter, electrified future for Africa and its people.

In conclusion, the multilateral approach to nuclear power is pivotal for Africa's energy transformation. It is the gateway to a future where reliable electricity drives progress, development, and prosperity across the continent. By embracing this cooperative vision, Africa can illuminate its path toward a brighter tomorrow.