The World Bank Group has announced a fresh $8.2 billion commitment to expand electricity access across Sub-Saharan Africa, as part of efforts to close the region’s persistent energy gap affecting hundreds of millions of people.
The funding is tied to “Mission 300,” a collaborative initiative with the African Development Bank Group, which aims to connect 300 million Africans to electricity by 2030. The World Bank is expected to account for 250 million of these connections, while the African Development Bank will deliver the remaining 50 million.
Officials say the initiative is already gaining traction, with more than 150 projects underway in over 40 countries and an additional $1.2 billion mobilised from partners and investors.
Despite ongoing interventions, Sub-Saharan Africa remains the least electrified region globally, with nearly 600 million people still lacking access to power. The deficit continues to weigh heavily on economic growth, limiting industrial productivity, increasing the cost of doing business, and constraining service delivery in critical sectors such as health and education.
According to the World Bank, the latest funding is designed to go beyond expanding grid connections by supporting reforms that will strengthen energy systems and stimulate wider economic development.
President of the World Bank, Ajay Banga, said the programme is structured to drive sustainable impact across multiple sectors.
“Electricity is the bedrock of jobs, opportunity, and economic growth,” Banga said, noting that the initiative would help reduce operational costs, improve the performance of power utilities, and attract increased private sector investment.
Central to the strategy are National Energy Compacts - government-led reform frameworks aimed at improving policy consistency, enhancing sector governance, and unlocking financing for energy infrastructure.
The programme also places strong emphasis on private sector involvement, with plans to scale up investment through competitive bidding processes, regional electricity trading, and financial instruments designed to mitigate risk.
Energy experts have consistently identified power shortages as a major barrier to Africa’s economic transformation, particularly for small businesses and emerging industries that depend on reliable electricity to operate efficiently.
President of the African Development Bank Group, Sidi Tah, highlighted the direct link between energy access and economic empowerment.
“Reliable, affordable power is the fastest multiplier for small and medium enterprises, agro-processing, digital work, and industrial value-addition,” he said, stressing that improved electricity supply would support entrepreneurship and job creation.
Beyond economic gains, expanded access to electricity is expected to significantly improve quality of life across the continent. Increased electrification will enhance access to information, support safer household energy use, and strengthen healthcare systems through improved lighting and refrigeration.
The World Bank added that electrification efforts under the programme are progressing at a faster pace than previous initiatives, with connection rates accelerating as investments and reforms take hold.
Mission 300 is expected to provide a long-term framework for building resilient and sustainable energy systems across Africa, with a particular focus on rural and underserved communities.
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