Africa’s Massive Cement Expansion Could Drive An Energy Boom

AI Summary

Africa’s rapid cement-sector expansion could increase demand for energy as the continent builds industrial capacity and reduces reliance on imported finished goods. Despite Africa’s large population, it currently accounts for a small share of global energy consumption and manufacturing output.

For decades, Africa has lagged the world in energy consumption, accounting for less than 5% of global energy supplies despite being home to a fifth of the world’s population. The continent also accounts for a mere 2% of global manufacturing output, with the majority of African nations exporting raw minerals and agricultural products while importing expensive finished goods. However, Africa now leads the world in a foundational, starter industry considered critical for industrialization: cement production. Indeed, across the continent we’re…