Uganda among top 10 African countries with highest electricity prices in 2023

Uganda among top 10 African countries with highest electricity prices in 2023

Kampala, Uganda | By Michael Wandati | Africa, recognized as the world’s fastest-growing economy, stands at the brink of extraordinary growth. However, various challenges, notably the high prices of energy, particularly electricity, present significant obstacles to the continent’s full potential.

As reported by Yahoo Finance, the global electricity market currently holds a valuation exceeding $1.94 trillion and is anticipated to surge to $3.9 trillion by 2032. This forecast is underpinned by an expected 3.3% year-on-year increase in electricity demand, driven by population growth and economic development across industrial, residential, and commercial sectors. Given this trajectory, addressing challenges in Africa’s power industry becomes imperative to mitigate costs and maximize revenue.

While Africa, on a global scale, boasts relatively low electricity costs, certain regions still grapple with prices that strain household incomes. Moreover, inadequate electricity supply remains a prevalent issue, emphasizing the urgency of addressing energy concerns.

The high cost of electricity in Africa is a complex challenge, necessitating a comprehensive approach.

When considering factors such as average household income, the state of electricity infrastructure, and limited access to electricity, the impact of high electricity costs becomes pronounced, placing a substantial strain on the affected regions’ economies.

Also Read: Uganda sets new electricity tariffs for 2023

Highlighting this issue, the following tables outlines top ten African regions with the highest, and cheapest electricity prices in kilowatts per hour, according to Global Petrol Prices—a platform offering real-time information on global retail energy prices, including motor fuel, electricity, and natural gas.

Top 10 African countries with the highest cost of electricity

RankCountryPrice (kilowatt/hour)Global rank
1.Cape Verde$0.31620th
4.Burkina Faso$0.20643rd
10.Sierra Leone$0.15565th

The data set was last updated in March 2023, providing insights into the current landscape of electricity pricing in these regions.

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Top 10 African countries with the cheapest electricity prices

RankCountryPrice of electricity (kilowatt/hour)Global rank
10.Democratic Republic of Congo (DRC)$0.06338th

This information underscores the importance of addressing the high cost of energy, particularly electricity, to ensure sustainable economic growth and development across the continent.