Africa gets $1.4bn boost for major electricity access plan
Africa’s Mission 300 initiative has secured $1.4bn in co-financing from international partners to expand electricity access. The programme, launched by the World Bank and the African Development Bank in 2024, aims to connect 300 million people to electricity by the end of the decade. Major contributors include the European Investment Bank, the Green Climate Fund, and the Government of Italy. Over 50 million people have already gained electricity access since the programme began.
TLDR
- Mission 300, launched in 2024, targets providing electricity to 300 million Africans by 2030.
- The initiative has attracted $1.4bn in co-financing, with the European Investment Bank contributing $347m, the largest share.
- In the 2024 fiscal year, total financing commitments reached $4.6bn; in fiscal years 2025 and 2026, commitments stood at $4bn and $1.5bn respectively.
- Over 50 million people have already benefited from new electricity connections under the programme.
- The World Bank and African Development Bank are accelerating investments, including a $59m mini-grid project in Eritrea and a $176m off-grid platform called Zafiri, both expected to make progress this year.
