World Bank, others commit $8.2bn to boost electricity access in africa

The World Bank Group has pledged $8.2 billion to expand electricity access across Sub-Saharan Africa, targeting millions of households and businesses still without reliable power supply.

The funding forms a key part of “Mission 300,” a joint initiative with the African Development Bank Group aimed at connecting 300 million people to electricity by 2030. Under the arrangement, the World Bank is expected to deliver 250 million connections, while the African Development Bank will provide the remaining 50 million.

The initiative has already attracted additional financing of about $1.2 billion, with more than 150 projects currently underway across over 40 countries, according to information released by the lender.

Access to electricity remains a major development challenge in Sub-Saharan Africa, where nearly 600 million people are estimated to live without power. The shortage continues to constrain economic activities, with businesses facing high operating costs and critical services such as healthcare and education struggling to function effectively.

The World Bank said the new commitment is aimed not only at increasing access but also at supporting broader economic growth by linking electricity supply to job creation, industrial expansion, and digital connectivity.

President of the World Bank, Ajay Banga, said the initiative is designed to deliver long-term impact.

“Electricity is the bedrock of jobs, opportunity, and economic growth,” he said, adding that Mission 300 would drive reforms to strengthen utilities, lower costs, and attract private sector investment.

A major component of the programme is the introduction of National Energy Compacts, which are country-driven reform plans intended to improve policy alignment, enhance efficiency in the power sector, and unlock new investment opportunities.

The initiative also aims to deepen private sector participation through competitive procurement, regional power integration, and financial mechanisms that reduce investment risks.

Development experts have long identified inadequate electricity supply as a critical barrier to Africa’s economic transformation, particularly for small and medium-sized enterprises and emerging industries.

President of the African Development Bank Group, Sidi Tah, emphasised the importance of reliable energy in driving productivity and job creation.

“Reliable, affordable power is the fastest multiplier for small and medium enterprises, agro-processing, digital work, and industrial value-addition,” he said, noting that improved access would directly support entrepreneurship and income generation.

Beyond economic benefits, increased electricity access is expected to enhance living standards across the region. Households would gain improved access to information, safer energy alternatives, and better healthcare services supported by reliable power supply.

The World Bank noted that electrification rates under the programme are improving, with connections being delivered at a faster pace compared to previous initiatives.

Mission 300 is expected to lay the groundwork for more resilient and sustainable energy systems across Africa, particularly in rural and underserved communities, while supporting long-term development goals on the continent.