Wednesday, January 22, 2025

World Bank, AfDB Drive Mission to Electrify 300 Million Africans by 2030 at Africa Energy Summit

The World Bank and African Development Bank (AfDB) have launched an ambitious initiative to provide electricity access to 300 million Africans by 2030. The transformative Mission 300 agenda, unveiled at the Africa Energy Summit in Tanzania, aims to tackle the energy poverty affecting nearly half the continent’s population.

“Mission 300 represents not just an ambitious target but a movement,” said Franz Drees-Gross, the World Bank’s Director of Infrastructure for West Africa. “This is about powering Africa’s growth and enabling millions to access essential services electricity provides.”

The two-day summit, held on January 27–28, 2025, in Dar es Salaam, is expected to attract 13 African Heads of State, international development partners, and over 1,000 participants. It will culminate in the signing of the Dar es Salaam Energy Declaration, through which African governments will commit to accelerating energy access reforms, promoting renewable energy, and boosting private sector investments.

READ MORE: Mozambique Swears in New President Amid Deadly Protests and Election Disputes

Nearly 600 million Africans—83% of the global population without electricity—currently live without access to power. Mission 300, launched in April 2024, seeks to address this challenge by combining traditional grid expansion with off-grid solutions tailored to remote areas.

The Global Energy Alliance for People and Planet (GEAPP) and The Rockefeller Foundation have already committed $10 million to establish a technical assistance facility for energy projects in 11 African countries. Financial institutions such as the International Finance Corporation (IFC) are also expected to announce new funding mechanisms to support renewable energy development across the continent.

“This initiative stands out for its ‘all-hands-on-deck’ approach,” said Sarvesh Suri, IFC Director for Infrastructure in Africa.

Reforms will focus on scaling affordable electricity production, improving cross-border energy trade, expanding electricity to underserved communities, creating a business-friendly environment for private capital, and modernizing national utilities to enhance their resilience and efficiency.

Daniel Schroth, AfDB’s Director for Renewable Energy, emphasized the urgency of achieving these targets. “It’s a tight journey because 2030 is only five years away. We have to deliver actual connections to 300 million people.”

The summit will showcase innovative solutions and highlight successful energy projects, fostering collaboration among stakeholders to accelerate investments and strengthen regional energy frameworks. Discussions will focus on scaling clean and affordable energy, addressing financing challenges, and improving grid reliability and off-grid solutions.

The Africa Energy Summit is being heralded as a pivotal moment in the continent’s journey toward universal energy access. It aims to unite key players, including philanthropists, private sector leaders, and financial institutions, to work together on transforming Africa’s energy future. “This is a moment for Africa to lead,” Schroth added, stressing the transformative potential of Mission 300.

Hot this week

Nigeria Records 589 Oil Spills in 2024, Most Linked to Sabotage

Nigeria reported 589 oil spills in 2024, spilling an...

Families of Fallen Heroes, War Veterans Demand Support on Armed Forces Day 2025

Families of Nigeria's fallen military heroes and war veterans...

Mozambique Swears in New President Amid Deadly Protests and Election Disputes

Mozambique's newly elected president, Daniel Chapo, will be sworn...

Centre For Leadership And Creative Entrepreneurs In Africa LTD/GTE (CELCE-AFRICA) Host International Day For Education

The Centre for Leadership and Creative Entrepreneurs in Africa...

TikTok is back online in the US, thanks to President-elect Donald Trump’s intervention

The app had stopped working for its 170 million...

World Bank Debars Two Nigerian Firms, CEO for Corruption in $500m Welfare Project

The World Bank has banned two Nigerian firms, Viva...

Nigerian Navy Seizes Boat with 40,000 Litres of Stolen Crude Oil in Ondo

The Nigerian Navy has intercepted a wooden boat carrying...

Subsidy Era Masked Nigeria’s Debt Crisis, Economic Realities – Taiwo Oyedele

Nigerians lived in an economy shrouded in “window-dressed realities”...

Why Nearly 90,000 Nigerians Were Denied Schengen Visas Over Two Years – Report

Nearly 90,000 Nigerians were denied Schengen visas in 2022...

IMF Predicts 2025 Growth Uptick, Warns of Protectionism’s Threat

Global economic growth is set to improve slightly in...

Related Articles

Popular Categories