Top 10 African countries with the highest electricity prices for businesses
From tiny corner shops to massive multinational companies, electricity is the backbone of productivity, creativity, and growth. It powers everything, from keeping the lights on to running automated systems in factories.
But paying for electricity can be a serious challenge. Electricity prices vary widely across Africa, influenced by factors such as the availability of resources, the efficiency of power generation and distribution, government subsidies, and the reliance on imported energy.
According to Globalpetrolprices, the global average electricity price stands at USD 0.152 per kWh for residential users and USD 0.148 per kWh for businesses. Europe records the highest residential electricity prices at USD 0.228 per kWh, while Asia offers the lowest average at USD 0.082 per kWh. Other regions fall in between, with Africa at USD 0.119, Australia at USD 0.236, North America at USD 0.142, and South America at USD 0.185.
For businesses, Europe also leads with the highest electricity prices at USD 0.195 per kWh, while Africa and Asia share the lowest rates at USD 0.108 and USD 0.082 per kWh, respectively. Business electricity prices on other continents are USD 0.205 in Australia, USD 0.161 in North America, and USD 0.189 in South America.
As of March 2024, businesses in Sierra Leone faced the highest electricity costs in Africa, paying approximately $0.342 per kilowatt-hour. This rate surpassed those of Ivory Coast and Burkina Faso, where electricity prices for businesses ranked second and third highest on the continent, at $0.227 and $0.210 per kilowatt-hour, respectively.
Below are the top 10 African countries with the highest electricity prices for businesses:
Rank | Country | Electricity Cost (In $ per Kw/h) | ₦ Equivalent(₦1,680 – $1) |
---|---|---|---|
1 | Sierra Leone | $0.342 | ₦574.56 |
2 | Ivory Coast | $0.227 | ₦381.36 |
3 | Burkina Faso | $0.210 | ₦352.8 |
4 | Kenya | $0.202 | ₦339.36 |
5 | Cape Verde | $0.193 | ₦324.24 |
6 | Togo | $0.171 | ₦287.88 |
7 | Cameroon | $0.169 | ₦284.52 |
8 | Dominican Republic | $0.168 | ₦282.24 |
9 | Madagascar | $0.158 | ₦265.44 |
10 | Mali | $0.152 | ₦255.36 |