Africa’s ambitious plan to connect 300 million people to electricity by 2030 has secured about $1.4bn in co-financing from international development partners, underlining growing global confidence in the continent’s biggest-ever energy access programme.
An analysis of the Mission 300 Progress Report obtained by our correspondent on Friday showed that external financiers have committed $1.4bn to support projects under the initiative since its launch in 2024.
The financing mobilisation comes as the World Bank and the African Development Bank intensify efforts to accelerate electricity connections across the continent through fresh investments, regional power integration, and reforms aimed at attracting private capital.
The report showed that the European Investment Bank emerged as the largest co-financier of the programme, contributing $347m, representing nearly a quarter of the total external funding mobilised so far.
The African Development Bank followed with $161m, while the Green Climate Fund committed $129m. Other major contributors include the Government of Italy, which provided $117m, and the Asian Infrastructure Investment Bank, which committed $100m.
