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Uganda among top 10 countries with cheapest cost of electricity in 2023

A client loading electricity units

A client loading electricity units

Africa, the continent with the fastest-growing economy in the world, is poised for extraordinary growth.

But several obstacles conceivably prevent the continent from reaching its fullest potential, not the least of which is the high cost of energy, particularly electricity.

According to Yahoo Finance, the world’s electricity market is currently valued at over $1.94 trillion and is projected to reach $3.9 trillion in 2032. This projection is a result of an estimated rise in demand for electricity, expected to spike by a 3.3% year-on-year increase.

This growth would be driven by population increase, and economic development with the industrial, residential, and commercial sectors as the primary consumers. On this note, it is important that Africa addresses the challenges plaguing its power industry so as to mitigate costs and maximize revenue.

While on a global scale, Africa boasts relatively low electricity costs, there still exist regions whose prices are relatively high compared to household incomes. There also exists a lack of adequate electricity supply, highlighting a need for energy concerns to be addressed.

The high cost of electricity in Africa is a multifaceted challenge that requires a comprehensive approach. Juxtaposed against the average household income, state of electricity infrastructure, and lack of access to electricity, the high cost of electricity can create a significant strain on the economy of the regions most affected.

Below are ten of these regions with the highest electricity prices. This list is courtesy of Global Petrol Prices, a platform that publishes up-to-date information on retail energy prices around the world including motor fuel prices, electricity prices, and natural gas prices.

The data set was last updated March 2023. With that said, above are the African countries in 2023 with the cheapest electricity prices in kilowatts per hour.

Table showing electricity pricing in Africa 

Rank

Country

Price (kilowatt/hour)

Global rank

1

Cape Verde

$0.316

20th

2

Mali

$0.219

37th

3

Rwanda

$0.207

42nd

4

Burkina Faso

$0.206

43rd

5

Gabon

$0.205

44th

6

Togo

$0.194

48th

7

Senegal

$0.183

52nd

8

Kenya

$0.172

56th

9

Uganda

$0.170

58th

10

Sierra Leone

$0.155

65th

Comments

+6 #1 Lysol 2023-12-06 05:29
Did you know that Uganda is number 10 country with most worthless/ cheapest currencies in the world, the Shillings.

That explains why Uganda is among the top 10 cheapest power aka electricity in the world. What about the economic 101, of the supply and demand? How many Ugandans have or can afford electricity in there home?
Don't fool us with the devil's arithmetic.
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0 #2 Marz Mubiru 2023-12-06 22:59
Cheapest. Sometimes it goes off 4 times in an evening and it is even not cheap and we want to export to Sudan. Satisfy your own people first.
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