The African Development Bank (AfDB) and the World Bank have pledged a combined $40 billion to the Mission 300 initiative, which seeks to provide electricity to 300 million Africans by 2030.
Speaking at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, AfDB President Dr. Akinwumi Adesina announced that the AfDB is committing $18.2 billion, while the World Bank will contribute $22 billion with more funding from partners like the Islamic Development Bank and OPEC Fund to boost support for the initiative.
He also highlighted the AfDB’s Desert to Power initiative, which aims to deliver 10,000 megawatts of solar power to 11 countries, bringing electricity to an additional 250 million people. Together, these efforts are expected to transform the continent, providing universal access to electricity in Africa.
Despite progress under the AfDB’s New Deal on Energy, Adesina lamented that 571 million Africans still lack electricity, accounting for 83% of the global population without power.
He urged leaders to act decisively to transform Africa’s energy landscape by 2030.
