DAR ES SALAAM, Jan 30 (NNN-DAILYNEWS) — THE African Development Bank Group (AfDB) and the World Bank (WB) have pledged a combined total of 40 billion US dollars (about 100tri/-), to fund Mission 300, an ambitious initiative aimed at providing 300 million Africans with access to electricity by 2030.
AfDB President, Dr Akin wumi Adesina announced the financial commitments during his opening remarks at the African Heads of State Summit in Dar es Salaam.
He revealed that 18.2 billion US dollars (about 46tri/-) of the pledged amount would come from the AfDB, while the WB would contribute the remain commitments..
Dr Adesina also highlighted pledges made by other development partners on the first day of the summit, including the President of the Islamic Development Bank, who committed 2.65 billion US dollars (about 6.7tri/-) and the President of the Asian Infrastructure Investment Bank, who pledged 1.5 billion US dollars (about 3.8tri-).
Additionally, the President of the OPEC Fund announced 1 billion US dollars (about 2.5) in support.
“We are confident that other development partners, both here and beyond, will join us.”
He insisted on the importance of working closely with the private sector, urging African leaders to show personal leadership in ensuring the success of the initiative.
The Mission 300 initiative comes in response to the fact that over 570 million Africans still lack access to electricity and more than one billion people live without clean cooking solutions.
Dr Adesina noted that the lack of electricity has been reducing Africa’s GDP by 2 to 4 per cent.
However, he noted positive progress, citing that access to electricity in Africa reached 52 per cent in 2024, up from 39 per cent can achieve the Mission 300 goals.
This improvement is attributed to the AfDB’s energy development programme, launched in 2016, which has helped provide electricity access to approximately 25 million people.
Dr Adesina emphasised that Mission 300 is a global movement supported by the African Union Commission and numerous international partners, including the Rockefeller Foundation, Sustainable Energy for All and the Global Energy Alliance for People and Planet.
He acknowledged the Rockefeller Foundation for its 20 million US dollars (about 50.4bn/-) contribution, which helped prepare the National Energy Compacts documents outlining how African countries.
The private sector is also encouraged to play a key role in expanding both grid and off grid systems to ensure widespread access to electricity across the continent.
WB President, Ajay Banga insisted on the importance of Mission 300, linking it to job creation and broader development goals for Africa.
He pointed out that over the next decade, 316 million young people in Africa will enter the workforce, but the current electricity infrastructure can support only 150 million jobs.
He stressed that Mission 300 is vital for addressing this gap. “It’s not just about clean cooking; it’s not just about healthcare; it’s about people, their optimism and their hope for dignity. This is the corner stone of the jobs agenda and the foundation for future development,” Banga said.
He added that the World Bank is ready to collaborate with other development partners to fund universal electricity access across Africa. President of the Rockefeller Foundation, Dr Rajiv Shah, commended Tanzania’s President Dr Samia Suluhu Hassan for her leadership in hosting the summit.
He praised the summit for fostering strategic partnerships aimed at expanding electricity access in Africa, stating, “Together, we can achieve much more impact than if we work alone.” — NNN-DAILYNEWS
