World Bank and African Development Bank Launch Initiative to Electrify Africa

In the spring of 2024, the World Bank and the African Development Bank launched an ambitious plan called "Mission 300" at their annual meetings. The goal is to provide electricity to at least 300 million Africans by 2030. This initiative is gaining momentum and inspiring development partners to take action, not only in Africa but also in other regions.

The Importance of Electricity Access

The World Bank highlights that Africans are on the verge of becoming the world's largest labor force. With access to modern electricity, they have the potential to transform Africa into a significant engine of the global economy. Currently, about 600 million people in sub-Saharan Africa lack electricity, forcing them to rely on charcoal for cooking and heating, and costly, polluting generators for lighting.

Accelerating Modern Energy Access

The World Bank emphasizes that Africa accounts for nearly 83% of the world's population without electricity. The lack of affordable, reliable, and sustainable energy hinders the development of livelihoods and businesses. To put Africa on the path to prosperity, the pace of electrification needs to triple. Universal electricity access can also strengthen critical emergency services such as hospitals and shelters, and promote climate-resilient agriculture through solar irrigation systems, refrigeration, and food processing facilities, enhancing Africa's ability to adapt to climate change.

Growing Momentum

As part of the initiative, the World Bank aims to electrify 250 million people, while the African Development Bank targets an additional 50 million. The World Bank's investments are already building momentum for achieving the "Mission 300" goals. For example, in Eastern and Southern Africa, the "Accelerating Sustainable and Clean Energy Access Transition Program" aims to electrify 100 million people across 20 countries. The program has been launched in Burundi, Rwanda, São Tomé and Príncipe, Somalia, and Tanzania, with more countries eager to join the first wave of action.

In Western and Central Africa, the "Nigeria Off-Grid Renewable Energy Scaling-Up Project" will benefit over 17.5 million Nigerians, accounting for 20% of the country's currently unelectrified population, and replace over 250,000 polluting and costly diesel generators. The new "Solar Industry Regional Emergency Intervention Project" covers Chad, Liberia, Sierra Leone, and Togo, increasing electricity supply for millions of consumers through the addition of grid-connected renewable energy capacity and the construction of regional interconnections and transmission networks. Additionally, by supporting the "West Africa Power Pool" project, regional cooperation is being fostered to provide cheaper and more reliable electricity for 14 countries in the region.

The Crucial Role of the Private Sector

The World Bank states that while there are different estimates, the funds required for Africa to achieve electrification far exceed the resources available from development banks, highlighting the importance of large-scale private investment to achieve the "Mission 300" goals. The World Bank points out that businesses must step in and expand investments in transmission and distribution, as well as cross-border energy trade. Institutions such as the International Finance Corporation and the Multilateral Investment Guarantee Agency under the World Bank are collaborating to provide better incentives and guarantees for companies operating in this space.

Regional Partnerships are Key to Success

In addition to partnering with the African Development Bank, "Mission 300" further strengthens ties with regional institutions. For example, the World Bank is working with the Common Market for Eastern and Southern Africa, comprising 21 African countries, to create a "one-stop" regional platform. This platform will provide technical assistance, capacity building, centralized funding mobilization, simplified procurement procedures, knowledge sharing, and collaboration opportunities for countries participating in the "Accelerating Sustainable and Clean Energy Access Transition Program." It also helps prepare projects to meet bank loan conditions and investment readiness.

Philanthropic Support for "Mission 300"

Philanthropic partners such as the Rockefeller Foundation and the United Nations "Sustainable Energy for All" initiative are mobilizing public and private funds to increase and supplement the resources of the World Bank and the African Development Bank. Helping Africa escape poverty will be a hotly discussed topic during the 79th session of the United Nations General Assembly, with the World Bank and the African Development Bank holding marginal events on the issue of electrifying Africa.