Owen Omogiafo, President and Chief Executive Officer of Transcorp Group, has called for urgent action to scale up Africa’s energy supply, warning that the continent’s economic growth and industrial potential depend on addressing its power shortage.
Speaking during the Changemakers Panel at the Future Investment Initiative (FII9) in Riyadh, Omogiafo said Africa cannot afford to delay investments in energy infrastructure, as millions of people and businesses still lack access to reliable electricity.
“Africa needs to scale up its energy supply quickly,” Omogiafo said, stressing that the continent has all the natural resources, from fossil fuels to sunlight, water, and wind, to achieve a balanced and sustainable energy mix.
She explained that while global conversations often focus on energy transition, Africa’s priority must be energy access, as the continent faces some of the world’s lowest electrification rates.
“What we are looking at on the continent of Africa is not even so much about whether we’re transiting or either of the three things that you’ve said. It’s about creating greater access to energy for all,” she added.
Omogiafo noted that despite the continent’s potential, power generation and transmission remain far below demand.
Using Nigeria as an example, she revealed that the country’s grid can only transmit about five to six gigawatts of power in a nation that requires nearly ten times that capacity.
Okay News reports that Omogiafo’s comments reflect growing concerns among African industry leaders about the pace of investment in energy infrastructure, which is critical to driving industrialization and curbing unemployment across the continent.
She urged policymakers and investors to support projects that combine grid and off-grid solutions, ensuring that Africa’s energy expansion aligns with its industrial ambitions and population growth.
