Nuclear’s Role in Bridging Africa’s Energy-Financing Gap

At Africa Energy Week (AEW 2025), one theme resonated strongly across the discussions: how to unlock the long-term capital needed to power Africa’s clean energy transition. World Nuclear Association put nuclear energy at the centre of this dialogue with the message that nuclear energy offers the continent abundant, clean, and reliable power.

World Nuclear Association’s Director General, Dr Sama Bilbao y Leon, joined high-level executives from Elsewedy Electric, the African Export-Import Bank (Afreximbank), and Bioko Consulting for the Energy Leaders’ Dialogue: Strengthening Public & Private Collaborations for Increased Energy Access. The session highlighted the importance of strong governance and effective public–private partnerships to build investor confidence and accelerate universal energy access.

As Haytham El-Maayergi, Executive Vice President, Global Trade Bank at Afreximbank, said:

“The mix between public and private always works very well for us because it gives us the best of both worlds.”

Why nuclear is integral to Africa’s investment conversation

Today, Africa has 2 reactors operating in South Africa, and another 4 under construction in Egypt, while many more are advancing plans for nuclear power programmes. There are four key enabling areas of focus for the continent to scale nuclear deployment.

1. Long-term capacity with reliable returns

Financiers want stable, predictable investments over decades. Nuclear projects, by nature, deliver exactly that — providing clean, dispatchable energy for 40–60+ years. In a landscape where many renewable energy projects are still viewed as higher risk, nuclear stands out as a bedrock asset.

South Africa is extending the operating lifetime of the Koeberg NPP, as a proven, cost-effective way to maintain reliable baseload power and maximize return on investment.

2. Partnerships to de-risk deployment

The AEW conversations agreed that the most successful projects blend international capital and expertise with local knowledge and legitimacy. Nuclear deployment especially demands such hybrid models — where global industry players and African institutions co-design frameworks, share risk, and align incentives.

As seen in Kenya, Egypt, and South Africa, international partnerships are vital for newcomer countries to access technical expertise, financing, and operational support.

3. Enabling regulation and financial architecture

To unlock private capital, perceived risks must be systematically reduced. That means governments must deliver clear, stable regulatory regimes, creditworthy off-taker arrangements, and mechanisms (e.g. guarantees, sovereign support) that give confidence to investors.

Recent developments, such as the World Bank’s policy shift, signals growing support for nuclear from the finance community — a critical step toward unlocking large-scale financing for Africa’s energy future.

4. Engaging African capital sources

Regional development banks, pan-African financial institutions, and local strategy funds are stepping up. The nuclear sector must actively partner with them to tailor financing tools that speak to the specific contexts, currencies, and policy regimes of African markets.

Words from leadership

Two years ago at Africa Energy Week 2023, during the signing of a Memorandum of Understanding between World Nuclear Association (WNA) and the African Commission on Nuclear Energy (AFCONE), Dr Sama Bilbao y León, Director General of World Nuclear Association, highlighted the transformative potential of nuclear energy:

“Nuclear energy offers a golden opportunity to build a cleaner, more equitable world, in which everyone has access to clean, abundant, affordable 24/7 energy and a high quality of life.”

That vision remains at the forefront today. At Africa Energy Week 2025, World Nuclear Association underscored its ongoing work with AFCONE, the African Energy Chamber, and the International Atomic Energy Agency to advance nuclear deployment. Emerging technologies, such as small modular reactors (SMRs), are opening dialogue and offering flexible deployment options for industrial partners, while large reactors will play an essential role for grid-scale capacity to meet Africa’s growing energy needs.

As Dr Bilbao y León emphasized:

“The partnership between governments that recognize the long-term opportunities and social development potential of nuclear projects can help catalyze private sector leadership in the space.” (aecweek.com)

Across the continent, nuclear projects offer a unique opportunity: they can be commercially viable while simultaneously delivering significant social impact, from reliable electricity to industrial growth and improved quality of life. Nuclear energy is a driver for socio-economic advancement and supports all 17 of the UN Sustainable Development Goals.

Looking ahead: pathways for action

Africa’s energy transition requires a portfolio of clean energy sources — wind, solar, hydropower and nuclear — working in harmony. But nuclear is uniquely placed to provide the reliable, abundant 24/7 electricity and high-temperature heat — independent of weather or geography — to support industrialization, grid stability, and critical services such as desalination.

World Nuclear Association continues to support African stakeholders through policy engagement, technical resources, and global industry connections — ensuring informed decision-making and inclusive growth.

- Supporting African governments in drafting nuclear-friendly policies and risk-mitigating frameworks.

- Convening dialogues between African financial institutions and global investors.

- Promoting deployment models such as small modular reactors (SMRs) suited to local grids and financing scales.

- Amplifying the narrative that nuclear is not optional — it’s essential to achieve Africa’s climate, growth, and energy access goals.

Africa’s opportunity is immense. The challenge of closing the financing gap is real. Nuclear must not remain on the sidelines — it must be woven into Africa’s energy future.

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