So far, Mission 300, which plans to raise $500bn for the electrification drive by 2030, has seen 30 countries out of 48 sign Compacts to enable its goals.
The World Bank Group and the African Development Bank Group announced in Cape Town on Tuesday the Mission 300 project has connected over 50 million people to electricity across 40 countries in sub-Saharan Africa, in just two years, while over $20 billion in funding has been raised.
So far, Mission 300, which plans to raise $500bn for the electrification drive by 2030, has seen 30 countries out of 48 sign Compacts to enable its goals. Together, the African Development Bank Group and the World Bank Group have mobilised nearly $15bn in financing commitments for Mission 300-related projects, while additional development partners have pledged more than $7bn in support of Africa’s energy sector.
Andrew Herscowitz, CEO of the Mission 300 Accelerator for The Rockefeller Foundation, and who spearheads the project, told Business Report in an interview six more countries were signing Compacts at the Africa Energy Forum conference in Cape Town this week: Burkina Faso, Gabon, Rwanda, Uganda, Djibouti, and the Central African Republic.
He said while South Africa has not signed a Compact, the country has provided great collaborative assistance for the project.
