Africa’s ambitious push for universal access to electricity has received a $49 billion financial injection from major global institutions and governments, setting the stage for accelerated power expansion across the continent.
At the just-concluded Mission 300 Africa Energy Summit in Dar es Salaam, the World Bank and the African Development Bank (AfDB) announced a joint commitment of $48 billion to strengthen electricity infrastructure, improve transmission and distribution networks, and increase access to affordable and reliable energy.
In addition, the International Finance Corporation (IFC) launched a $1 billion fund dedicated to supporting off-grid solar and decentralized renewable energy solutions in Africa. The fund aims to drive private sector investment in sustainable energy, particularly in rural and underserved communities.
France and European Partners Step Up Contributions
Beyond multilateral banks, governments are also deepening their support for Africa’s energy transformation. French President Emmanuel Macron, addressing the summit via video link, pledged €1 billion for energy projects across the continent, emphasizing that universal access to electricity is critical for economic justice in Africa.
“Universal access to electricity is critical to getting justice for Africa. This is a shared fight, and we will win it with all the heads of states and governments of Africa who are here, alongside our financial and civil society partners,” Macron stated.
France also committed an additional €10 million to the Sustainable Energy Fund for Africa (SEFA), a multi-donor initiative aimed at unlocking private investment in renewable energy. Denmark, the UK, and Spain followed suit, increasing their respective contributions by €13.4 million, €10.13 million, and €3 million to bolster clean energy initiatives across Africa.
From Pledges to Action
The funding commitments mark a major shift from past discussions to concrete financial backing, signaling a new era of investment in Africa’s energy sector.
However, leaders and industry experts stressed that funding alone is not enough—governments must also implement policy reforms, strengthen utility governance, and create a business-friendly environment to attract private sector participation and ensure effective deployment of funds.
While the Dar es Salaam Declaration commits African nations to reforming energy policies and increasing transparency, the next challenge will be translating these commitments into real impact, ensuring that millions of people currently without electricity finally gain access to reliable power.
