Top investor: UK ‘should target Africa energy deals post-Brexit’
The Government should turn its investment focus on sub-Saharan Africa after Britain leaves the EU, an influential investor has urged.
Nancy Pfund, a founder investor in Tesla and founder of social investment firm DBL Partners, has said the UK should build on the £28.7 billion of goods traded with the region in 2016.
She believes green energy is a major opportunity for Westminster and private investors.
In a study into “Africa’s trillion-dollar energy opportunity”, Pfund argues investment into off-grid solar — standalone or small systems often used to power communities — could unlock $1 trillion of GDP.
The research says Tanzania alone produces as much solar energy as 14 US States combined.
Pfund believes there is an “unprecedented opportunity which must be grasped sooner rather than later. Savvy investors will recognise the enormous potential of investing in the energy revolution.
“Growing African economies would… allow the burgeoning entrepreneurial and business enthusiasm to thrive without the drag of a sub-optimal electric system,” she said.
