East Africa’s renewable energy investment opportunities

Africa's energy transition is a critical component in the continent's journey towards attaining net zero emissions. In an exclusive interview with CNBC Africa, Manish Pant, the Executive Vice President for Schneider Electric, discussed the company's significant presence in Africa and its commitment to driving sustainable growth and efficiency. With over five decades of experience in various African countries, Schneider Electric has established itself as a digital partner for sustainability, offering advanced solutions to foster economic development while promoting green energy initiatives across the continent. Schneider Electric's extensive network of partners in 50 African countries, supported by distribution centers and manufacturing units, underscores the company's dedication to Africa's progress. The firm's mission to empower local communities through access to energy aligns with its core values of driving positive impact while advancing business goals. Pant highlighted the company's commitment to providing energy access to millions of people and supporting social businesses focusing on essential services like healthcare and education. Moreover, Schneider Electric recognizes the youth demographic in Africa as a key stakeholder in the continent's future. With a focus on skill development and training, the company aims to equip young Africans with the digital and energy expertise needed to secure employment opportunities in the evolving energy sector. Through partnerships with training institutions and social organizations, Schneider Electric is working towards training one million individuals, contributing to both youth empowerment and the growth of the renewable energy industry. The interview with Manish Pant also shed light on the challenges and opportunities in investing in Africa's energy transition. Climate change and energy transition are universal concerns, but Africa's potential for innovation and sustainable development presents unique opportunities. With a vast portion of Africa's infrastructure yet to be developed, there is a chance to build with a focus on decarbonization and digitalization. Schneider Electric sees digitization as a key enabler for energy efficiency and productivity, emphasizing the importance of leveraging technology to maximize the continent's economic assets. Looking ahead, Schneider Electric envisions widespread growth opportunities across different regions of Africa. Pant highlighted the impressive commitment of African governments to drive economic growth and development, emphasizing the role of public-private partnerships in advancing sustainability goals. The company remains dedicated to supporting Africa's economic progress by providing digital solutions that reduce carbon intensity and enhance energy efficiency. In line with its commitment to the continent, Schneider Electric has recently expanded its operations in Dar es Salaam, Tanzania, with a new facility contributing to the region's development through the assembly of electrical e-houses. As Africa continues to evolve as a promising frontier for investment and sustainable growth, Schneider Electric stands poised to play a pivotal role in driving the continent's renewable energy transformation.