Econet founder and Zimbabwean billionaire, Strive Masiyiwa said that solar power will be the panacea to Africa’s power problems in the near future.
Econet Energy Group recently revealed plans to build mini-power grids in Matabeleland province.
Speaking during a recent global conference of investors in Abu Dhabi, the United Arab Emirates, Masiyiwa said:
The technology for solar power and battery storage has reached a stage where the cost and capability will deliver power to all within a generation.
Twenty-five years from now, it will be difficult to find anyone in Africa who does not have access to power because of the profound technological solutions that make it possible for entrepreneurs to solve this problem.
Today, 75 per cent of the people have a cell phone, with some countries now recording over 100 per cent penetration.
Fifty per cent of the African population will be connected to the Internet within 10 years. Would you have believed this was possible in 1993?
With renewable energy solutions, we are at the same point as cell phones in 1993.
The technology is available, and what remains now are visionary entrepreneurs backed by real capital.