The ECOWAS Bank for Investment and Development (EBID) on Tuesday pledged to invest an additional 2.0 billion U.S. dollars toward West Africa’s subregional energy sector development.
George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, disclosed during the 2026 edition of the Future of Energy Conference in Accra, the Ghanaian capital, that the bank’s commitment is in line with the need for the Economic Community of West African States (ECOWAS) subregion to develop modern, reliable, affordable, and diversified energy systems capable of supporting manufacturing.
“An industrial revolution cannot begin without a strong energy infrastructure to support it. Value addition means power, and competitive industries need reliable, affordable, and sustainable power,” Donkor maintained.
Citing a projection by the African Development Bank that Africa needs to invest at least 25 billion dollars annually to achieve universal electricity access, the EBID official averred that, “Even more than access, Africa needs industrial-grade energy.”
He said EBID appreciates the centrality of power in the development of the subregion and has invested 1.0 billion dollars across the energy value chain in the ECOWAS subregion as of June 2026 into conventional and renewable electricity generation, transmission, and distribution projects, while also supporting fuel procurement to keep economies running.
Under its Growth, Resilience, and Optimization strategy, EBID, according to Donkor, would invest an additional 2.0 billion dollars in the subregion’s energy sector by 2030 to further consolidate its commitment to the sector.
“There is a need to develop modern, reliable, affordable, and diversified energy systems capable of supporting manufacturing, agroprocessing, mining, digital industries, and urban development to avoid the repeat of past setbacks,” he stressed.
The Future of Energy Conference is an annual continental gathering, initiated by the Africa Center for Energy Policy, assembling various energy sector experts, government officials, and think tanks to deliberate on the direction of energy development, access, cost, and sustainability on the continent.