Key insights
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1
Energy demand surge: Africa's energy demand is projected to rise by over 50% by 2040.
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2
Investment shortfall: Clean energy investment in Africa has fallen to about $20 billion annually.
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3
Renewable energy growth: Solar power is expected to provide nearly 40% of new electricity capacity.
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4
Mineral resource potential: Africa holds significant deposits of critical minerals for clean energy.
Takeaways
The IEA's report underscores the urgent need for increased investment and policy reforms in Africa's energy sector to ensure equitable access and sustainable growth.