Africa: Pension Funds, Insurance Companies Sit On Billions While Africa Goes Dark

Pension funds and insurance companies in different African countries invest billions abroad despite energy projects on the continent needing investment, says chairperson of the presidential initiative on climate change in Sierra Leone Kandeh Yumkella.

Speaking at the Accelerated Partnership for Renewables in Africa (Apra) investment forum in Sierra Leone, Yumkella said projects in Africa are perceived as too risky by foreign investors, which leaves about 600 million people without electricity.