Even with massive untapped hydropower potential (6 GW), access to electricity in Guinea is very low: 17 percent in cities, and just 3 percent in rural areas. It is a deep development problem, requiring an innovative private sector response.
Amid the devastating 2014 Ebola epidemic, IFC helped the government design an €11.3-million management contract to improve its electricity distribution sector and transform national power utility Electricité de Guinée (EDG). Drawing on IFC’s vast global knowledge of public-private partnerships (PPPs), the agreement lays out clear obligations and performance indicators for a private sector partner brought in to improve the utility’s performance.
France’s Veolia-Seureca won the contract. In place since September 2015, it is providing EDG with experienced teams to oversee operations and bring complementary expertise in IT and other key areas, leading to much-needed improvements in EDG’s operational performance. Over time, the PPP will also help restructure the utility, train staff, and improve its technical, commercial, and financial performance.
To date, IFC’s investments have helped 44 million people in Sub-Saharan Africa receive power.