Improving Quality of Urban Life Through Enhanced Energy Policy in Africa

Abstract

Neither urban quality of life research nor effective urban energy policy research is new in Africa, but funding the future needs in these two areas requires exploring the new options, such as the emerging crowdfunding market. It is projected that by 2100 Africans will account for 40% of global population and majority urban residents, with huge workforce, a growing middle class, experiencing hyper-globalization, and increased innovation, all of which will enhance quality of urban life. For Africa to meet its large-scale energy-deficit and expected huge future demand triggered by rapid and massive urbanization, alternative renewable sources are considered in the supply policy options. Similarly, alternative visions of how energy can contribute to inclusive economic growth in Africa are examined and ways to fund them explored. To leap-frog Africa's development while the traditional funding mechanism helps, sustainable option lies in innovative alternative finance, especially crowdfunding markets in Africa and in diaspora.