Business A.M
No Result
View All Result
Monday, June 29, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

655m people worldwide, 560m in SSA still without electricity

by Ben Eguzozie
June 29, 2026
in Frontpage, WORLD BUSINESS & ECONOMY
560m in SSA still without electricity

 

  • IEA, IRENA, UN DESA’s SDG 7 progress report
  • 2bn, 970m in SSA, no access to clean cooking
  • Urgency to deliver universal energy access target
  • SDG 7 target in insufficient pace
  • $24.6bn support clean energy in developing countries

 

At a time when energy security and affordability have risen to the top of the development agenda, 655 million people globally still lack access to electricity, and two billion others use polluting fuels and technologies for cooking, putting their health and well-being at risk, according to a latest report by the International Energy Agency (IEA), International Renewable Energy Agency (IRENA) and United Nations Department of Economic and Social Affairs (UN DESA) on tacking “SDG 7: The Energy Progress Report”.

 

The report says sub-Saharan Africa (SSA) bears a disproportionate share of these gaps, with over 560 million living without electricity, and an additional 970 million lacking access to clean cooking.

In particular, key findings across primary indicators show that: despite gains, progress remains far too slow.

In 2024, the global access rate stagnated at 92 percent, and annual growth halved compared to the previous decade. 

Sub-Saharan Africa and rural populations are increasingly left behind, with the rural deficit in sub-Saharan Africa growing from 376 million in 2010 to 447 million in 2024. Achieving universal access by 2030 will now require the pace of progress to triple to 1.3 percent a year.

Access to clean fuels and technologies for cooking remains the largest energy gap, affecting approximately two billion people — roughly one quarter of the world’s population. 

Progress is uneven, with a stark urban-rural divide: 89 percent of the urban population have access to clean cooking compared to only 56 percent of people living in rural areas. Without stronger action, 1.8 billion people could still rely on polluting fuels like charcoal, wood, kerosene, and coal by 2030.

Sub-Saharan Africa again accounts for a disproportionate share, with the number of people lacking access expected to reach one billion by 2027. This has severe health consequences, with household air pollution being responsible for some three million deaths per year.

Renewables now supply over 30 percent of electricity, but their share in heat and transport remains limited. Despite record growth, disparities in renewable energy-generating capacity persist; renewable energy-generating capacity in low-income countries stood at only 33.6 watts per person, compared to 1,224 watts per person in high-income countries.

On energy efficiency, progress is falling short of the pace required to meet global targets, with the rate of progress falling from 2.4 percent in 2022 to 1.5 percent in 2023, the report noted.

It added that recent improvements in energy intensity remain well below the level needed to align with SDG 7, highlighting a widening gap between ambition and implementation.

“Strengthening efficiency measures across sectors is essential not only for reducing energy demand but also for lowering costs and emissions,” it added.

International public financial flows to developing countries in support of clean energy reveals limited growth, insufficient relative to needs, with flows marginally increasing from $24.4 billion in 2023 to $24.6 billion in 2024. 

The report observed that despite the high cost of debt creating economic strain across developing countries, debt-based financing continues to be the main form of international public clean energy finance, accounting for about 80 percent of total flows in 2024. 

“Grants accounted for 13 percent, while equity financing and risk guarantees remained comparatively marginal at 2 percent and 5 percent, respectively,” the report stated.

The report, which will be presented to decision-makers at a high-level political forum on SDG 7 review meeting in New York in July, warns that without urgent and scaled-up action, the world will fall short of achieving SDG 7 to ensure universal access to affordable, reliable, sustainable, and modern energy by 2030. 

Moreover, while the current global energy crisis is still unfolding, its impact on energy markets and the broader economy are expected to be significant. 

Accelerating domestic renewable energy deployment is increasingly seen as essential both for strengthening energy security and affordability, as well as advancing long-term climate and development objectives.

The report further stated that distributed renewable energy solutions, including off-grid solar and mini-grids, are a cost-effective solution for electricity access, and are already serving hundreds of millions of people. 

Electric cooking, bioethanol and biogas are also gaining traction as scalable renewable energy cooking solutions, helping to further diversify clean cooking pathways, it added.

Affordability remains a major obstacle to expanding electricity access, the report noted, adding that even where infrastructure is available, many households cannot afford connection fees, wiring costs or basic energy services. 

“As countries work to reach the remaining unelectrified population, target subsidies, innovative financing mechanisms and least cost electrification solutions will be essential to ensure that no one is left behind,” it advised.

Financing constraints are hampering progress, with levels either insufficient to meet the SDG 7 goals or declining altogether in the poorest countries, the report observed, adding that international financial flows in support of clean energy to the least developed countries declined significantly, registering $3.7 billion in 2024, an 11 percent decrease from 2023.

Stronger political leadership, improved cross-sector coordination, and a strategic focus on the countries and communities most at risk of being left behind remain cross-cutting priorities in the lead up to 2030, notes the report.

It also stated that clear policy signals and sustained implementation are fundamental to diversifying the national energy mix, increasing renewable energy, reducing dependence on fossil fuel imports and bolstering macroeconomic resilience against global supply chain disruptions.

Ben Eguzozie
Ben Eguzozie
Previous Post

An African aviation future beyond aircraft acquisition

Next Post

N468bn short-let boom creates rent revolution, reshapes Nigeria hospitality

Next Post
N468bn short-let boom creates rent revolution, reshapes Nigeria hospitality

N468bn short-let boom creates rent revolution, reshapes Nigeria hospitality

  • Trending
  • Comments
  • Latest

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017
NGX taps tech advancements to drive N4.63tr capital growth in H1

Insurance-fuelled rally pushes NGX to record high

August 8, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

my wife

When borrowing from my wife came in handy

June 29, 2026
Akara

Akara is not an economic strategy

June 29, 2026
Africa

Africa’s forests @ risk amid surging energy transition minerals demand

June 29, 2026
Nigerian stock

Gradually, Nigerian stock market transitions into world-class market

June 29, 2026

Popular News

  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

my wife

When borrowing from my wife came in handy

June 29, 2026
Akara

Akara is not an economic strategy

June 29, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M