The World Bank Group has pledged $8.2bn to expand electricity access across Sub-Saharan Africa, targeting one of the region’s most pressing development challenges, with nearly 600 million people still lacking reliable power.
The funding anchors “Mission 300,” a joint initiative with the African Development Bank Group, which aims to connect 300 million people to electricity by 2030. Under the plan, the World Bank is expected to deliver 250 million connections, while the AfDB will provide the remaining 50 million.
According to details released by the lender, the programme has already mobilised an additional $1.2bn in financing, with more than 150 projects underway across over 40 countries. The initiative combines public and private sector investment to accelerate electrification at scale.
Despite some progress in recent years, access to electricity remains a major barrier to economic development in the region. Limited power supply continues to constrain businesses, weaken healthcare systems, and reduce agricultural productivity, while also driving up operating costs for industries.
The World Bank said the initiative is designed to go beyond electrification by linking energy access to job creation, digital connectivity, and industrial expansion.
“Electricity is the bedrock of jobs, opportunity, and economic growth,” said Ajay Banga, noting that the programme aims to introduce reforms that lower costs, strengthen utilities, and attract private investment.
At the centre of the strategy are National Energy Compacts—country-led reform frameworks intended to improve utility performance, unlock financing, and align national policies with long-term energy goals. The programme also seeks to expand private sector participation through competitive procurement processes, regional electricity trade, and risk-reduction mechanisms.
The push comes amid intensified collaboration among development finance institutions to tackle Africa’s persistent energy deficit, widely seen as a key constraint to inclusive growth.
Sidi Tah, President of the African Development Bank Group, highlighted the broader economic impact of reliable electricity, particularly for small and medium-sized enterprises and emerging industries.
“Reliable, affordable power is the fastest multiplier for small and medium enterprises, agro-processing, digital work, and industrial value-addition,” he said.
Beyond economic gains, improved electricity access is expected to enhance living standards by supporting safer cooking, better education, and stronger healthcare delivery through reliable lighting and refrigeration for medicines.
The World Bank noted that connection rates under the programme are already accelerating, running about 1.5 times faster than previous electrification efforts, as investments and reforms begin to take effect.
“Mission 300,” the institutions say, is intended to lay the foundation for long-term, sustainable energy systems capable of reaching even the most remote communities while supporting Africa’s transition toward more reliable and inclusive power infrastructure.
