Omnicane CEO how to address Africa’s energy deficit

Investment in the energy sector in Africa is crucial for the continent to achieve its energy and climate goals, including universal access by 2030. A new report has highlighted that the energy sector will need to be doubled to meet these targets. The CEO of Omnicane recently sat down with CNBC Africa's Arnold Kwizera at the Commonwealth Heads of Government meetings to discuss how this ambitious goal can be achieved. The CEO emphasized the importance of infrastructure development and the adoption of new technologies such as decentralization of power generation to enhance energy accessibility across Africa. The energy access situation in Africa has seen some setbacks, with the region regressing by 4% in terms of energy access in recent years. This decline has been attributed to various factors, including outdated power infrastructure, growing demand, and the effects of the COVID-19 pandemic. The CEO highlighted the urgent need for massive investments in clean energy to address the issue and underscored the pivotal role of reliable energy in driving economic growth. Omnicane's recent inauguration of the Omni-Hydropower plant in Ymagabe represents a significant milestone in the company's journey towards sustainable energy solutions. Despite facing challenges such as landslides and logistical issues exacerbated by the pandemic, the completion of the project has brought reliable and clean power to the community. The $32 million investment in the project is expected to have lasting benefits for the region, providing a stable source of electricity and contributing to the reduction of carbon emissions. Hydropower remains a viable and sustainable energy option for Africa, with the potential for further development across the continent. The CEO expressed optimism about the role of hydroelectric plants in decarbonizing the economy and emphasized the environmental benefits of such projects. While mega hydropower projects on rivers like the Nile and the Congo present significant opportunities, decentralized mini-hydro projects offer advantages for remote areas with available water resources. The social and economic impact of the Omni-Hydropower plant extends beyond electricity provision, creating employment opportunities for local communities during both the construction and operational phases. The CEO highlighted the positive ripple effects of the project on the economy, emphasizing the importance of cheap and reliable power for overall development. The collaboration between Omnicane, the Mauritius Commercial Bank, and the governments of Mauritius and Rwanda in funding and supporting the Omni-Hydropower project symbolizes the beginning of enhanced trade relations between the two African countries. This partnership showcases the potential for mutually beneficial collaborations in the energy sector and sets a positive precedent for future cooperation. As Africa continues its pursuit of sustainable energy solutions, investments in clean energy infrastructure and innovative technologies will be critical in addressing the continent's energy deficit and advancing its climate goals. The discussions at the Commonwealth Heads of Government meetings have shed light on the importance of collective efforts and partnerships to drive Africa towards a greener and more energy-efficient future.