As Africa moves closer to embracing nuclear energy as part of its clean‑power transition, funding challenges remain a major obstacle. At the Nuclear Energy Innovation Summit for Africa (Neisa) held in Kigali, leaders and financiers discussed how to unlock investment for nuclear projects amid rising electricity demand and limited capital access.
Rafael Grossi, Director‑General of the International Atomic Energy Agency (IAEA), expressed optimism about new financing opportunities following the World Bank’s 2025 decision to lift its long‑standing ban on nuclear energy funding. He said the move opens doors for African nations to seek support from multilateral lenders such as the African Development Bank (AfDB) and the World Bank, with the IAEA ensuring safety and non‑proliferation standards.
Despite this progress, African leaders highlighted persistent structural barriers. Tanzania’s President Samia Suluhu Hassan called for innovative financing mechanisms tailored to Africa’s economic realities, emphasizing the need for regulatory preparedness and public awareness to build confidence in nuclear technology.
Former AfDB president Donald Kaberuka, now the African Union Special Envoy on Financing, underscored the importance of regional collaboration and long‑term investment frameworks to mobilize both African and international capital. Similarly, Serge Ekué, president of the West African Development Bank, urged lenders to adopt “patient capital” models suited to nuclear projects’ decades‑long maturity cycles.
Meanwhile, Rwanda continues advancing its nuclear program. President Paul Kagame received the IAEA Phase I Integrated Nuclear Infrastructure Review, marking progress toward deploying Small Modular Reactors (SMRs) capable of producing up to 300 MW per unit. Rwanda’s agreement with the United States and Holtec International aims to pave the way for SMR‑300 installations.
African leaders reaffirmed that nuclear energy should complement, not compete with, renewables — forming part of a balanced and resilient energy mix to drive industrial transformation across the continent.
