Africa, the continent with the lowest access to electricity, has secured US$50 billion to provide power to 300 million more Africans by 2030. The funds were pledged at the Mission 300 Africa Energy Summit held in Tanzania in late January 2025 and represent 55% of the amount required to expand electricity access over the next six years, with Mission 300 estimating the total costs to be US$90 billion.
The summit was organized by the African Development Bank in partnership with the World Bank Group and convened leaders, policymakers, and financiers to address Africa’s energy deficit.
Despite being home to 18.5% of the world’s population, Africa consumes less than 6% of global energy and 77% of its energy comes from fossil fuels. Over 600 million people, about 44% of the total population, lack access to reliable power and this affects economic growth, healthcare, education, and job creation.
Major financial commitments
Key international organizations and financial institutions pledged substantial funding to support the ambitious goal agreed at the Mission 300 summit.
The African Development Bank promised between US$10 billion and US$15 billion while the World Bank pledged between US$30 billion and US$40 billion with the caveat that it would release the funds “only when countries make the (regulatory and policy) changes”.
The Islamic Development Bank committed US$4.65 billion which includes US$2.65 billion for project financing and an additional US$2 billion for power project insurance and the Asian Infrastructure Investment Bank, headquartered in China, committed between US$1 billion and US$1.5 billion.
Over the next five years, France’s International Development Agency will contribute US$1 billion and OPEC’s International Development Fund will donate US$1 billion with further funding to follow.
Spain, the UK, and Denmark each upped their current Sustainable Energy Fund for Africa (SEFA) contributions by €3 million, €10.13 million, and €13.4 million, respectively.
With an initial phase investment of up to US$300 million, the World Bank Group and the African Development Bank have established the Zafiri investment company to support energy solutions from the private sector and to close the equity gap in Africa’s renewable energy industry. The Rockefeller Foundation is also expected to invest US$10 million in Zafiri.
Africa bets on renewable energy
According to the African Energy Commission, annual electricity consumption in Africa is predicted to exceed 1,000 terawatt-hours (TWh) by 2040 but the continent still needs to address a range of challenges such as infrastructure, financing, and policy barriers. Mission 300 will play a major role in achieving this as renewable energy is a key focus of the initiative to prioritize the development of clean energy.
The International Renewable Energy Agency estimates that technically Africa’s total potential for renewable energy generation is 10 terawatts of electricity from solar power although if fully harnessed, this could generate tens of thousands of terawatt-hours annually, 350 gigawatts from hydropower which is equal to 1,500 TWh annually based on average hydro efficiency, 110 gigawatts from wind power which is equal to 300–400 TWh annually, and 15 gigawatts from geothermal sources which is equivalent to 120–150 TWh annually.
Africa currently utilizes only a small fraction of this potential, with wind energy contributing a mere 0.01%, solar 2%, geothermal 4–5%, and hydropower 17% to its energy mix, while fossil fuels remain dominant at 77%. This reliance not only causes environmental degradation but also strains resources as most countries import fossil fuels, often at volatile prices.
Will Africa succeed?
Most African countries will rely on the program to extend access to electricity. For example, Tanzania is hoping to increase its national electricity connectivity from 46% to 75% by 2030 and expand access to an additional 8.3 million households, focusing on rural and underserved areas.
Zambia plans to increase national electricity access from 53.6% to 100%, double its annual on-grid connections from 60,000 to 120,000, and expand off-grid access by 1.76 million households through mini-grids and home solar systems.
By 2030, Malawi aims to increase electricity access from 25.9% to 70%, achieving 1.15 million new on-grid connections and 1.55 million off-grid connections, add 22,417 km of distribution lines and 1,940 km of transmission lines, and upgrade substation infrastructure to support rising energy demand.
See also: Electricity access on the rise in rural Zimbabwe but millions still in need
According to Akinwumi Adesina, President of the African Development Bank, to increase the proportion of renewable energy, improve utility performance, ensure transparency in power purchasing and licensing agreements, and create stable tariff regimes that account for production costs, significant reforms will be required through a collective effort from the continent and stakeholders.
Mission 300 is not the first large-scale program to target electricity access in Africa. In 2013, the USA initiated Power Africa in an attempt to double electricity access in sub-Saharan Africa. The program focused on adding more than 30,000 megawatts of cleaner energy generation capacity and increasing electricity access by at least 60 million new connections. Despite its ambitious goals, the initiative faced challenges, and, by 2022, over 570 million people in sub-Saharan Africa still lacked access to electricity.
