The United Nations (UN) Conference on Trade and Development (Unctad) has called on developing nations to invest in clean and renewable technologies.
In the report published on www.gnctad.org, Unctad said 43 of the world’s least developed countries will “require a 350 percent increase in their annual rate of electrification” to achieve the global goal of universal access to energy by 2030.
Speaking ahead of the report’s publication in Geneva, Switzerland on Tuesday, Unctad secretary general Mukhisa Kituyi urged developing countries to go beyond satisfying household needs.
The report has classified Malawi as one of the countries least likely to meet the electrification targets with 88 percent of the rural population living without access to electricity compared to 12 percent of the urban populations.
The report also indicates that Malawi is one of the three least developed countries where energy production has declined.
Economics Association of Malawi (Ecama) president Chikumbutso Kalilombe said slow growth in the manufacturing sector may also affect wholesale and retail, which to an extent, is also dependent on the manufacturing sector.