- Major funding pledged for Africa’s electrification goals
- Mission 300 aims to provide power to 300 million Africans
- SEFA gains global support for renewable energy expansion
Significant new donor pledges have been announced to support the Sustainable Energy Fund for Africa, further strengthening the Mission 300 initiative. Additional funding has been committed by countries such as Denmark, the United Kingdom, Spain, and France, reaffirming their dedication to sustainable energy development in Africa.
Mission 300, a joint initiative led by the World Bank and the African Development Bank, has been designed to provide electricity to 300 million Africans by 2030. To achieve this goal, at least $90 billion in investments must be secured. Efforts are already underway, as several African nations, including Nigeria, Senegal, Zambia, and Tanzania, have pledged to enhance power infrastructure, integrate renewable energy, and expand national electricity access.
Beyond government contributions, multilateral development banks have also increased their financial support. Up to $6.15 billion has been pledged by the Islamic Development Bank and the Asian Infrastructure Investment Bank. Specifically, $2.65 billion will be allocated for project financing, while $2 billion will be used for power project insurance. Additionally, between $1 billion and $1.5 billion in funding will be provided by the Asian Infrastructure Investment Bank.
Through these collective efforts, electricity access is expected to improve for 600 million Africans. At the same time, job opportunities will be created, and clean energy solutions will be expanded. By reducing reliance on fuel sources such as wood and charcoal, significant environmental and health benefits can also be achieved. The increasing global support for the Sustainable Energy Fund for Africa and Mission 300 demonstrates a strong commitment to sustainable energy and economic growth across the continent.
