BOAD calls for regional approach to nuclear energy financing in West Africa

The President of the West African Development Bank (BOAD), Serge Ekué, has called for a stronger regional approach to financing nuclear energy in West Africa, stressing the need for adequate infrastructure, regulatory frameworks and risk-sharing mechanisms.

Speaking on September 9 at the World Nuclear Symposium 2026 Finance Summit, organized by the World Nuclear Association, Ekué highlighted the role of multilateral development banks in supporting governments as they consider nuclear power projects.

He said development banks could help countries prepare projects, provide technical assistance and mobilize the financing needed to move nuclear initiatives forward.

For West Africa, Ekué said nuclear development should be considered within a regional electricity framework, particularly through stronger interconnections and the synchronization of power grids.

Under its Djoliba Strategic Plan for 2026-2030, BOAD plans to support regional electricity transmission infrastructure, including 890 kilometers of transmission lines over the next five years.

Ekué stressed that there is no single financing model for nuclear energy in Africa. Successful projects will require thorough preparation, robust regulatory frameworks and mechanisms capable of sharing the risks associated with large-scale nuclear investments.

His comments come as African countries explore ways to expand reliable and low-carbon electricity generation while facing significant infrastructure and financing constraints.

For West Africa, greater regional integration of electricity networks could help countries build the infrastructure needed to support future energy projects, including potential nuclear developments.