News Industry

Africa’s Nuclear Plans Accelerate with World Bank and IAEA Backing

Africa’s Nuclear Plans Accelerate with World Bank and IAEA Backing
Monday, 07 July 2025 09:11

• The World Bank opens the door to supporting civilian nuclear energy in Africa
• Several countries, including Ghana, Nigeria, and Rwanda, plan nuclear projects
• Experts warn of debt risks, security concerns, and dependence on foreign technology

Speaking at the Nuclear Energy Innovation Summit on June 30 and July 1, Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), expressed optimism about the role of nuclear power in Africa. He described nuclear energy as a “CO2-free sustainable” option now becoming realistic for African nations.

This renewed momentum follows a groundbreaking agreement signed between the IAEA and the World Bank on June 26, lifting a long-standing barrier to supporting nuclear energy in developing countries. The agreement prioritizes sharing expertise, extending the lifespan of existing reactors, and accelerating the rollout of small modular reactors (SMRs), which are seen as more flexible and better suited to the needs of low-income countries.

Several African nations, from Egypt to Ghana, Nigeria, Rwanda, and Burkina Faso, aim to follow South Africa, the continent’s only country operating a nuclear plant for over three decades, according to the IAEA’s 2023 data. Egypt also stands out, building the El-Dabaa nuclear power plant, which includes four 1,200 MW reactors supplied by Russia’s Rosatom, financed 85% through a $25 billion Russian loan.

Ghana is moving forward with modular reactors in partnership with U.S.-based NuScale Power, as is Rwanda, which plans to have its first reactor in place by 2026. Nigeria, for its part, is working to organize its internal coordination and is still undecided between large-scale projects and SMRs, aware of the debt risks involved.

The renewed interest in nuclear energy comes as nearly 600 million Africans still lack reliable electricity. The World Bank sees nuclear power as key to providing the stable base-load energy needed for industrial growth, hospitals, and essential services, predicting electricity demand in developing countries will more than double by 2035.

Still, concerns remain. Twelve civil society organizations warn that nuclear projects require massive investments in foreign currency, which can worsen debt burdens and deepen technological dependence. From 2017 to 2024, over 90% of new reactors worldwide were built by Russia and China. In Africa, Russia, through Rosatom, remains the dominant player, while China and the United States seek footholds in the growing SMR market.

“We’ve had longstanding difficulties with oil and gas infrastructure (…) Security at a nuclear power station would need to be akin to a military base,” warned Philip Jakpor of the NGO Renevlyn Development Initiative. Critics also raise concerns over waste management and recurring delays in nuclear projects, often underestimated by governments.

The IAEA’s optimism and the World Bank’s policy shift create new space for nuclear energy in Africa. But success will depend on African countries building a secure, sustainable, and well-managed nuclear industry. With high costs, complex partnerships, and urgent needs for local workforce training, the continent’s nuclear ambitions are moving cautiously.

For the first time in years, nuclear energy has political and financial support to grow in Africa. But it remains uncertain whether the promises from the Nuclear Energy Innovation Summit will translate into concrete results for the millions of Africans still living without electricity.

On the same topic
Gold production rose 10% year on year, reaching 1.21 mln ounces in 2025. Lafigué delivered its first full year of output, offsetting declines at other...
Galiano Gold will invest at least C$17mln in gold exploration in Ghana in 2026. The budget is up 70% year on year and targets reserve growth at the...
Nigeria lowered oil and gas signature bonuses to $3m–$7m from much higher past levels. The change applies to payments made before license awards...
Mozambique expects Rovuma LNG construction to start within 12-18 months Improved security enables restart of major northern gas...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
04

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
05

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.