Seventeen African governments including Ghana have presented national strategies to increase access to reliable and affordable electricity as part of Mission 300, a bold initiative led by the World Bank Group and African Development Bank Group.
The M300 initiative aims to connect 300 million people in sub-Saharan Africa with affordable power by 2030. The World Bank reports that approximately 600 million people in the region lack access to electricity.
As part of the programme, governments develop their national energy compacts that outline critical reforms and quantify investment needs from both public and private sources to accelerate electricity access.
“Electricity is the first building block to creating jobs,” said World Bank Group President Ajay Banga. “It is a human right, so we must work to ensure access for all.”
The Bloomberg Philanthropies Global Fund hosted a meeting of partners on Wednesday, during which a dozen heads of state attending the United Nations General Assembly, unveiled their national energy compacts, demonstrating their commitment to ensuring electricity for all.
The participating countries included Benin, Botswana, Burundi, Cameroon, Comoros, the Republic of the Congo, Ethiopia, Gambia, Guinea, Kenya, Lesotho, Mozambique, Namibia, São Tomé and Principe, Sierra Leone, and Togo. Twelve nations had already committed to the initiative early this year.
“Ghana believes universal energy access is key to empowering businesses, reducing poverty, and creating equal opportunities,” said President John Dramani Mahama. “This goal can only be achieved through strong government-private sector partnerships, supported by an enabling environment for sustainable investment.”
30 million people connected
Across the 12 nations that initially endorsed the programme, more than 30 million people have gained access to electricity, according to the World Bank Group.
The Washington-based lender aims to connect 250 million people to power, through distributed renewable energy systems or the distribution grid, while the African Development Bank facilitates access for 50 million people. Reaching this goal would require an estimated $90 billion investment, according to the banks.
“We are working with all partners to scale the volume of financing through national sovereign and pension funds to achieve our goal,” said Dr Sidi Ould Tah, President of the African Development Bank Group.
The energy access deficit in sub-Saharan Africa adversely affects access to health care, education, economic growth, and overall quality of life. The impacts have been more severe in rural communities where less than 35% of the population can access electricity.
By providing reliable and affordable power, the M300 platform will support small businesses, enhancing their productivity and creating more jobs.
“Your commitments will help us to power the future of sub-Saharan Africa, which has an important role in the global economy,” said Michael Bloomberg.
