Reasons Why Developing Nations Need Modern and Affordable Energy

by Business Watch Team

The world is evolving at a higher rate. The dream of a global village has been achieved and realized in terms of communication and traveling around the world. Unfortunately, this has not been realized in the energy sector.

There is a lot of disparities in accessible modern and affordable energy among nations around the world with Africa being the most affected.

According to Schneider Electric, more than 1.6 billion people have no access to electricity. 50 percent of these people, unfortunately, come from Sub-Saharan Africa.

There is a need for developing countries to have access to easy, affordable, modern energy if at all any economic dream is to be realized.

What are some of the advantages of developing countries having access to modern energy?

i) Industrial revolution – there is no country in the world that can develop without developing its industrial base. Many developing countries have their industries struggling with investors taking off mainly due to high energy costs as well as the high cost of doing business. Having affordable modern energy will help industries in these countries to develop.

ii) Employment opportunity – the world’s population is mainly made up of the youth. It is estimated that 80 percent of the youth are the world are without meaningful employment. In Kenya for instance, the World Bank estimates that more than 25.5 million people are without jobs. Affordable modern energy will help the better economy, develop industries hence creating employment opportunities.

iii) Eradication of poverty – poverty is a disease. Fortunately, it can be cured. One of the major ways to eradicate poverty is to empower people and communities. People cannot be empowered if they have no access to energy (electricity) or any other. Enabling the poor and the vulnerable to have access to clean affordable modern energy is one way of keeping poverty at bay.

iv) Strengthening institutions – President Barrack Obama, while on a trip to Ghana, said that Africa does not need strong people or strong governments but strong institutions. To strengthen institutions such as education, modern energy is needed. Almost every institution needs energy; health, education, sociopolitical, name them.

There are many reasons why developing nations need to have access to easy, affordable modern energy. Schneider Electric is out to make sure this is done and realized. The company is now in Kenya and plans to roll out its development plan for the East African economic hub.

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