Saudi Press

Saudi Arabia and the world
Monday, Jun 02, 2025

UK could tap into Africa's $24bn market for off-grid solar power

UK could tap into Africa's $24bn market for off-grid solar power

Rapidly growing sector could prove lucrative as Britain seeks post-Brexit trade opportunities
UK investors could seize a $24bn investment opportunity by helping to connect millions of people without access to electricity to off-grid home solar power systems.

The market for pay-as-you-go home solar packages is expected to boom in Africa, where millions of homes are using mobile technology to rent low-cost solar panels.

UK companies have played a leading role in helping more than five million households sign up to pay-as-you-go home solar systems in the past four years. But with 600 million people without access to an electricity grid, there is huge potential for future investment.

A report by Kleos Advisory, published during the first UK-Africa Investment Summit in London, has found that the commercial opportunity from off-grid solar panels could generate about $24bn (£18bn) a year.

The market is growing rapidly since the collapse in the cost of solar panel technologies and the emergence of mobile banking and affordable financing in the continent’s fast-growing economies.

Households that earn an income are increasingly using mobile phones to rent small-scale solar panels, and ultra-efficient electric lighting strips and appliances to access electricity for the first time.

Once the solar panels are paid off, households own the equipment outright and in effect have free energy. Many then choose to upgrade their packages to add televisions and electric cookers.

The off-grid solar market is expected to grow rapidly, in part because eight of the world’s 15 fastest-growing economies are in Africa.

Tedd George, the author of the report, said the combination of solar technology and affordable financing was “driving an economic transformation in Africa, making the ‘unbankable’ bankable and embedding African consumers in the digital economy”.

UK companies including Azuri Technologies, which commissioned the report, and Bboxx are racing to corner the market for off-grid solar in Africa with the help of private investment and major international companies.

Azuri sells its home solar systems in Kenya, Tanzania, Uganda, Zambia and Nigeria, and Bboxx is active in Kenya, Togo, Guinea, Ivory Coast, Mali, Rwanda, Senegal, the Democratic Republic of the Congo and Nigeria.

The scale of the off-grid solar market across Africa has emerged as UK investment leaders consider future investment in the continent after Brexit.

Tony Blair said the summit this week “should open a new chapter in Britain’s relationship with Africa” to one based on “economic cooperation rather than simply an aid-based, donor-recipient relationship”.

The former Labour prime minister said: “If we can use the UK-Africa Investment Summit to become a true economic partner to African countries, it would be of great strategic benefit to the continent and to the UK.”
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
×