IMF and World Bank warn of energy and food insecurity in Africa

The International Monetary Fund (IMF) has issued a warning regarding the dual vulnerabilities of food security and electricity access in Sub-Saharan Africa. According to the IMF's Regional Economic Outlook, the continent's growth remains heavily dependent on fragile agricultural and energy supply chains.

Food insecurity remains a critical risk, with many nations still dependent on imports of wheat, vegetable oils, and fertilizers. High food inflation has persisted in several economies, including Nigeria, Ethiopia, and Angola, driven by currency depreciation, rising logistics costs, and climate events such as the El Niño-induced droughts in Zimbabwe, Zambia, and Malawi.

Simultaneously, electricity shortages continue to hinder productivity. Addressing these gaps, the World Bank and the African Development Bank are working through the ‘Mission 300’ program, which aims to connect 300 million Africans to electricity by 2030. In Madagascar, the World Bank has approved $250 million for the ASCENT Madagascar program to expand electricity access and modern cooking solutions for 2.5 million people by 2030, while also supporting improvements to the national utility, JIRAMA.