Interview
TT: Can you start by providing some context about your role at Eranove?
RO: I’m Ralph Olaye, Head of Business Development at Eranove. My role involves developing new projects and leveraging the expertise we have built within the group to expand our operations. We started with a strong presence in Côte d’Ivoire and Senegal and have since expanded into Togo, Benin, Gabon, the Democratic Republic of Congo (DRC), and Madagascar. We are also exploring opportunities in other African markets.
TT: How many markets are you currently active in?
RO: We are operational in five markets and are developing projects in several others. Africa is our core focus. Eranove is a Pan-African industrial group, which is reflected in our mission: Projects in Africa, by Africa, for Africa.
TT: We’re here at SIREXE, the first edition of this event. What key message do you want to convey?
RO: SIREXE is unique in bringing together three interdependent sectors—energy production, extractive industries, and mining—allowing for a critical tripartite discussion. We produce electricity, often using extractive resources like gas, while mining companies are among the largest consumers of that energy.
To answer your question, Eranove operates over 1.5 GW of power on the continent, making us one of the largest private players in West Africa, particularly within the West African Monetary Union (UEMOA), where we are the leading operator.
Our core message is clear: We are a private group delivering public services through innovation. This innovation is not just technological but extends to financial strategies, workforce training, and operational processes. Private-sector involvement enhances efficiency and service reliability, often surpassing what traditional public utilities can offer. We’ve demonstrated this in Côte d’Ivoire, where our electricity prices remain competitive while maintaining high service reliability.
TT: Sustainable development is a major theme here. You’re integrating renewable energy like solar into your mix. How do you decide which projects to pursue?
RO: Sustainability for us is multi-dimensional. It’s about long-term partnerships with governments, ensuring quality service delivery, and minimizing environmental impact. We have focused heavily on hydropower, as it provides a stable base load. Unlike solar, which has become more accessible, hydropower projects require extensive feasibility studies, environmental assessments, and long-term financing—areas where we have significant expertise. While we haven’t yet incorporated solar farms, we acknowledge their growing role in Africa’s energy transition and collaborate with innovative players in that space.
TT: Let’s talk about Nigeria. It’s well known that private sector efficiency in resource allocation surpasses that of the public sector. However, Nigeria faces severe electricity challenges. What would it take for Nigeria to reach the level of electricity access seen in Côte d’Ivoire? Have you engaged with Nigerian officials on potential projects?
RO: Public-private partnerships (PPPs) are central to our approach. The private sector alone cannot succeed without the right regulatory and policy environment. Côte d’Ivoire provides a strong example where government vision, clear regulations, and an independent regulator create a thriving electricity market.
Nigeria is a complex yet promising market with over 200 million potential consumers. However, its grid infrastructure is less developed than Côte d’Ivoire’s, creating opportunities for mini-grids and decentralized energy solutions. The privatization efforts initiated in 2012-2013 were promising, but one critical missing element was tariff certainty. Private investors need assurances that tariffs will be adjusted to reflect actual costs, ensuring profitability. If governments don’t subsidize electricity appropriately or fail to enforce cost-reflective pricing, utilities struggle financially, leading to system failures.
TT: Given Nigeria’s ongoing reforms, particularly reducing electricity subsidies, would Eranove reconsider entering the Nigerian market?
RO: Absolutely. We are closely monitoring the second wave of reforms led by NERC (Nigerian Electricity Regulatory Commission). The push towards cost-reflective tariffs and regulatory improvements makes Nigeria more attractive. Many players, including Eranove, are eager to engage, but we need to see consistent implementation before making firm commitments.
TT: Thank you so much for your time. We appreciate your insights.
RO: My pleasure. Thank you.
