Seventeen African nations have committed to a new set of reforms aimed at expanding access to electricity, adopting their “national energy compacts” at the Bloomberg Philanthropies Global Forum.
The initiative is a key part of Mission 300, a joint effort by the World Bank and the African Development Bank to provide electricity to 300 million people in Africa by 2030.
According to a joint statement from the two financial institutions, these plans will guide public spending, spur reforms, and attract private investment. World Bank Group President Ajay Banga said, “Electricity is the foundation of jobs, opportunity, and economic growth. That’s why Mission 300 is more than a goal; it’s an initiative for sustainable reforms that reduce costs, strengthen power utilities, and mobilize private investment.”
The national energy compacts are action plans tailored to each country’s specific context, developed with technical support from their development partners. These concrete plans are structured around three fundamental pillars: infrastructure, financing, and public policies.
A first group of countries presented their compacts earlier this year, and their roadmaps contain over 400 measures designed to strengthen electricity services, reduce risks for investors, and eliminate bottlenecks.
Ambitious commitments from African leaders
During the ceremony, several heads of state reaffirmed their commitment to the pact. Botswana’s President Duma Boko called it a “shared commitment” to jobs and economic transformation, while Cameroonian President Paul Biya highlighted his government’s dedication to renewable energy and sustainable development.
The Republic of Congo’s President Denis Sassou Nguesso noted his country’s massive hydroelectric potential, which could power more than a third of Africa. Finally, Ghana’s President John Dramani Mahama underscored that universal energy access is essential for empowering businesses and reducing poverty.
Multilateral partnership
To unite efforts for Africa’s electrification, the World Bank and the African Development Bank are collaborating with several partners, including The Rockefeller Foundation and the Global Energy for People and Planet (GEAPP) Alliance. Numerous development partners and financial institutions also support Mission 300 projects through co-funding and technical assistance.
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