(KIGALI) – The International Atomic Energy Agency (IAEA) has announced a new initiative to help African countries access financing for nuclear energy projects. Speaking at the Nuclear Energy Innovation Summit for Africa in Kigali this week, IAEA Director General Rafael Grossi said international lenders are now showing a renewed interest in supporting nuclear infrastructure on the continent.
Mr Grossi stated that in the past, African governments struggled to secure funds for nuclear projects due to policy barriers at major international financial institutions. However, he said the agency is now ready to assist African states in preparing “bankable” funding proposals that can withstand rejection from global lenders such as the World Bank.
Once a country expresses interest, the IAEA will engage directly with the World Bank to guide the development of a financing application that meets international standards. Mr Grossi also encouraged African financial institutions, such as the African Development Bank (AfDB), to follow the World Bank’s lead by beginning to support nuclear projects.
Addressing widespread public concerns around nuclear safety, Mr Grossi said that misunderstandings persist, often linking nuclear energy to weapons.
“There have been misconceptions and unfavourable narratives about nuclear energy,” he said. “Sometimes there is amalgamation of nuclear energy with weapons.”
Despite growing support, nuclear energy projects remain capital intensive and long term investments. For example, Egypt’s El Dabaa nuclear power plant cost $28.75 billion (SSP 132.25 trillion), most of it funded by a Russian loan. Building a standard 1GW nuclear plant can cost between $1.5 billion and $8 billion (SSP 6.9 trillion to SSP 36.8 trillion), with construction times of up to 15 years. This is a challenge for African countries with limited financial space and debt levels averaging 65 percent of GDP as of 2024.
| Nuclear Project | Cost Estimate | Timeline | Funding Source |
|---|---|---|---|
| Egypt (El Dabaa) | $28.75 billion | ~15 years | Russian Loan |
| Uganda (Buyende Phase 1) | ~$5–8 billion (planned) | By 2031 | South Korea (preliminary) |
| Kenya (Bondo) | TBD | From 2027 | Under site assessment |
| South Africa (cancelled) | $100 billion (proposed) | Cancelled in 2018 | Not secured |
The AfDB has so far prioritised solar, wind and hydro through its Sustainable Energy Fund for Africa (SEFA). But with the World Bank’s “Mission 300” programme aiming to connect 300 million Africans to electricity by 2030, nuclear power may receive indirect support as part of broader access initiatives.
Countries in East Africa are already moving forward. Uganda has partnered with Korea Hydro and Nuclear Power Company Ltd to start site assessments for its first 1GW plant in Buyende by 2031, with plans to scale up to 8.4GW across several sites. These would help Uganda meet nearly half of its expected electricity demand of 52.4GW by 2040.
Tanzania has also expressed its intent to use nuclear energy for national development. Energy Minister Doto Biteko said nuclear power presents a viable way to meet growing demand sustainably. President Samia Suluhu Hassan has directed officials to fast track the Tunduru uranium project in Ruvuma to attract investors and secure energy independence.
In Kenya, a planned nuclear plant was moved from the Coast to the lakeside town of Bondo in Siaya County. The government and local leaders have reportedly secured community support. Kenyan politician Raila Odinga called for partnerships with experienced nuclear countries to guarantee safety and non-proliferation standards.
Despite this momentum, risks remain. South Africa’s planned 9,600MW nuclear expansion project was abandoned in 2018 due to cost overruns and political controversy. Still, with African nations facing urgent electricity gaps — over 600 million people (43 percent of the population) lack access to power — nuclear power is regaining attention.
| Region | Electricity Access Rate (2024) | Population Without Power |
|---|---|---|
| Africa (Total) | 57% | 600 million |
| South Sudan | ~10–15% (estimated) | Over 12 million |
For South Sudan, where electricity access is among the lowest in the world, the broader shift in nuclear financing could provide a future pathway if the country develops long term infrastructure planning. While no official plans for nuclear energy have been announced in Juba, regional developments may influence future policy direction, especially as power shortages continue to limit economic and industrial growth.