The African Union (AU) has launched the African Single Electricity Market (AfSEM) which will one day become the world’s largest continent-wide energy trading programme.
The initiative is meant to interconnect all 55 African Union Member States through an efficient, affordable and sustainable electricity market.
The implementation of the AfSEM will be supported by a Continental Power System Masterplan currently being developed by the African Union Development Agency (AUDA-NEPAD), to harmonise regulatory frameworks across various regions.
Representing the Chief Executive Officer of AUDA-NEPAD Dr Ibrahim Mayaki, Economic Integration Division Head with the Agency, Dr Towela Jere said the “launching of AfSEM came at the right time when Africa is determined to eradicate energy poverty.”
“AfSEM will be the largest interconnected electricity grid as well as the largest intraregional power trading system in the world expected to enhance the economic prospects of Africa,” Jere said.
The African Union Commissioner for Infrastructure and Energy Dr Amani Abou-Zeid highlighted that the African Single Electricity Market (AfSEM) is a timely response to bridge the electricity gap in Africa by optimising the continent’s abundant renewable energy sources toward achieving 100 per cent access to electricity for the continent by 2030 in line with the AU Agenda 2063 and the UN Sustainable Development Goal Number 7.
“AfSEM and continental electricity markets will further human development, enhance economic prospects of the continent leveraging the African Continental Free Trade Area (AfCFTA), underpinning productive transformation, industrialisation, digitalisation and job creation and that is what AfSEM is meant for,” said Abou-Zeid.