By Muhammad Amaan
President of the African Development Bank (AfDB), Dr Akinwumi Adesina says the bank and the World Bank Group are committing 40 billion dollars toward the Mission 300 initiative.
Adesina disclosed this while delivering his welcome remarks tagged, “From Ideas to Action to Accelerate Energy Access,” at the Mission 300 Africa Energy Summit on Tuesday in Dar es Salaam, Tanzania.
The goal of the Mission 300 is to provide electricity to 300 million Africans by 2030.
Dr Adesina said the financial commitment to Mission 300 included 18.2 billion dollars from the AfDB and 22 billion dollars from the World Bank, respectively.
According to him, support from other partners is growing, with significant pledges from the Islamic Development Bank, Asian Infrastructure Investment Bank and the OPEC Fund.
He expressed gratitude for the technical and financial contributions of partners like the Rockefeller Foundation.
Dr Adesina, therefore, called on African leaders to seize this moment, adding, “Together, let us decisively use Mission 300 to provide 300 million people in Africa with electricity by 2030.”
The president also highlighted AfDB’s complementary Desert to Fire initiative, aimed at delivering 10,000 megawatts of solar power to 11 countries, bringing electricity to an additional 250 million people.
He emphasised that, together, these efforts could transform the continent, providing universal access to electricity for Africa.
According to him, lack of electricity reduces Africa’s Gross Domestic Product by two per cent to four per cent.
He highlighted the progress made under the AfDB’s New Deal on Energy for Africa, launched in 2016, saying, “Since its inception, the share of the African population with access to electricity has risen from 39 per cent in 2015 to 52 per cent in 2024.”
Dr Adesina stated that over 25 million people had gained access to electricity through AfDB’s initiatives.
He lamented that in spite of these gains, significant challenges remained as 571 million Africans still lived without electricity, constituting 83 per cent of the global population without power.
“Furthermore, over a billion people lack access to clean cooking solutions, with dire consequences for women’s and children’s health.
“We must take decisive actions to further drive down these numbers,” he urged, emphasising the urgency of expanding energy access.
To address these challenges, he explained that the AfDB and its partners had launched Mission 300, an ambitious goal to provide electricity to 300 million Africans by 2030.
Dr Adesina acknowledged the global coalition behind the initiative, including the African Union Commission, the World Bank, the Rockefeller Foundation, and others.
He said, “Mission 300 has grown into a global movement. Together, we are creating a brighter future for millions of Africans.
“This coalition represents an unprecedented alliance of financial and technical resources.”
Dr Adesina called for increased private sector participation and critical reforms, including improved utility performance, renewable energy expansion and transparent licensing processes.
He assured African leaders of AfDB’s support in achieving national energy compacts aligned with the broader goals.
Also, President of the World Bank, Mr Ajay Banga emphasised the significance of collaboration to tackle energy poverty across the continent.
“Over the next decade, 360 million young people in Africa will be ready to enter the workforce, yet the current system will only offer jobs to 150 million of them.
“That leaves three out of every five young people without the opportunity for a job, not just for earning, but for dignity. Forecasts are not destiny; together, we can change this reality,” said Banga.
Reflecting on the collaborative nature of the initiative, Banga acknowledged the contributions of key partners, including the AfDB and philanthropists such as Dr Raj Shah of the Rockefeller Foundation.
He stated, “No one can do this alone. Governments cannot do it alone. Businesses cannot do it alone. Development banks cannot do it alone. But together, we can.
“This effort requires governments as architects of reform and private sector players to bring innovation, efficiency, and scale.”
Outlining the World Bank Group’s commitment, Banga announced that 30 billion dollars to 40 billion dollars would be directed towards Mission 300 over the next six years.
“This effort represents both a challenge and an opportunity for the private sector.
“We are working to eliminate regulatory barriers and create environments where investments can generate returns while delivering meaningful impact. By aligning private capital with public priorities, we can achieve results that none of us could do alone.
“Governments must drive reforms, the private sector must invest with confidence and trust, and development banks must deliver financing while upholding accountability,” the World Bank president added.
He said Mission 300 was not just about powering Africa but empowering its people to achieve their dreams.
