African Development Bank Group’s Post

#PoweringAfrica: Leaders Commit to Energy Transformation With More Than $50 Billion Backing From Global Partners  Thirty African Heads of State and government committed to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity to power economic growth, improve quality of life, and drive job creation across the continent.   “Tanzania is honoured to have hosted such a monumental summit to discuss how, as leaders, we will be able to deliver on our promise to our citizens to provide power and clean cooking solutions that will transform lives and economies,” said H.E. Dr. Samia Suluhu Hassan, President of the United Republic of #Tanzania.  The leaders pledged their commitment in a declaration during the two-day #Mission300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Partners pledged more than $50 billion in support of increasing energy access across Africa.  By combining government reforms, increased financing, and leveraging public-private partnerships, African countries are positioned to turn plans into action, delivering tangible benefits to millions of people.  Akinwumi A. Adesina, President of the African Development Bank Group, emphasised the need for decisive action to accelerate electrification across Africa: “Critical reforms will be needed to expand the share of renewables, improve utility performance utilities, ensure transparency in licensing and power purchase agreements, and establish predictable tariff regimes that reflect production costs. Our collective effort is to support you, heads of state and government, in developing and implementing clear, country-led national energy compacts to deliver on your visions for electricity in your respective countries.”  “Access to electricity is a fundamental human right. Without it, countries and people cannot thrive,” said Ajay Banga, President of The World Bank Group. “Our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step. To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role—and only through collaboration can we achieve our goal.” More on the landmark gathering here: https://bit.ly/3WzHWjm 

#PoweringAfrica: Leaders Commit to Energy Transformation With More Than $50 Billion Backing From Global Partners  Thirty African Heads of State and government committed to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity to power economic growth, improve quality of life, and drive job creation across the continent.   “Tanzania is honoured to have hosted such a monumental summit to discuss how, as leaders, we will be able to deliver on our promise to our citizens to provide power and clean cooking solutions that will transform lives and economies,” said H.E. Dr. Samia Suluhu Hassan, President of the United Republic of #Tanzania.  The leaders pledged their commitment in a declaration during the two-day #Mission300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Partners pledged more than $50 billion in support of increasing energy access across Africa.  By combining government reforms, increased financing, and leveraging public-private partnerships, African countries are positioned to turn plans into action, delivering tangible benefits to millions of people.  Akinwumi A. Adesina, President of the African Development Bank Group, emphasised the need for decisive action to accelerate electrification across Africa: “Critical reforms will be needed to expand the share of renewables, improve utility performance utilities, ensure transparency in licensing and power purchase agreements, and establish predictable tariff regimes that reflect production costs. Our collective effort is to support you, heads of state and government, in developing and implementing clear, country-led national energy compacts to deliver on your visions for electricity in your respective countries.”  “Access to electricity is a fundamental human right. Without it, countries and people cannot thrive,” said Ajay Banga, President of The World Bank Group. “Our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step. To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role—and only through collaboration can we achieve our goal.” More on the landmark gathering here: https://bit.ly/3WzHWjm 

#PoweringAfrica: Leaders Commit to Energy Transformation With More Than $50 Billion Backing From Global Partners  Thirty African Heads of State and government committed to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity to power economic growth, improve quality of life, and drive job creation across the continent.   “Tanzania is honoured to have hosted such a monumental summit to discuss how, as leaders, we will be able to deliver on our promise to our citizens to provide power and clean cooking solutions that will transform lives and economies,” said H.E. Dr. Samia Suluhu Hassan, President of the United Republic of #Tanzania.  The leaders pledged their commitment in a declaration during the two-day #Mission300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Partners pledged more than $50 billion in support of increasing energy access across Africa.  By combining government reforms, increased financing, and leveraging public-private partnerships, African countries are positioned to turn plans into action, delivering tangible benefits to millions of people.  Akinwumi A. Adesina, President of the African Development Bank Group, emphasised the need for decisive action to accelerate electrification across Africa: “Critical reforms will be needed to expand the share of renewables, improve utility performance utilities, ensure transparency in licensing and power purchase agreements, and establish predictable tariff regimes that reflect production costs. Our collective effort is to support you, heads of state and government, in developing and implementing clear, country-led national energy compacts to deliver on your visions for electricity in your respective countries.”  “Access to electricity is a fundamental human right. Without it, countries and people cannot thrive,” said Ajay Banga, President of The World Bank Group. “Our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step. To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role—and only through collaboration can we achieve our goal.” More on the landmark gathering here: https://bit.ly/3WzHWjm 

Advancing the delivery of electricity to 300 million Africans by 2030 – that's the reason behind the Africa Energy Summit in Dar es Salaam, #Tanzania where 13 African Heads of State, international partners, philanthropies, and private sector leaders will gather to accelerate #Mission300 -- a groundbreaking initiative to scale energy access and power the continent’s clean energy transition.   In a media briefing held last week, African Development Bank’s Director for Energy Financial Solutions, Policy and Regulation, Wale Shonibare, shared more on what to expect: “The upcoming Summit will unveil new initiatives aimed at boosting domestic resource mobilisation and encouraging cross-border trade to spread risk and increase financing for energy access.”  The two-day gathering will also highlight energy sector successes in selected countries, establish an alliance of sector stakeholders to accelerate energy infrastructure investments, and strengthen regional power planning, markets trade, and policy frameworks to support the implementation of the Continental Master Plan and the African Single Electricity Market.  Daniel Schroth, African Development Bank’s Director for Renewable Energy and Energy Efficiency, emphasised the urgency of implementation. “It's a tight journey because 2030 is only five years away and we have to deliver, not expected connections, but actual connections to 300 million by 2030.”  More from the briefing and how you can participate in the #PoweringAfrica conversations: #Mission300: https://bit.ly/4jmGhr3 

Electrifying Africa: World Bank and AfDB's $90 Billion Mission Sub-Saharan Africa faces a significant electricity challenge, with 600 million people without access to power. To address this, the World Bank and African Development Bank launched #Mission300, aiming to supply electricity to an additional 300 million people by 2030. Key Objectives: - Raise $90 billion for electrification projects - Extend and densify national grids - Deploy off-grid solar power projects - Attract private sector investment Sub-Saharan Africa bears the disproportionate burden of global electrification gaps, with a staggering 83% of the world's unelectrified population residing in the region, resulting in a vast energy investment gap. To bridge this gap, recent progress has been made through strategic partnerships and collaborative efforts. Notably, governments convened in Washington to develop energy compact frameworks, laying the groundwork for a successful January summit in Tanzania. Key partnerships have also been forged with renowned organizations such as the Rockefeller Foundation, Global Energy Alliance, and Sustainable Energy for All, demonstrating a united commitment to addressing Africa's energy challenges. #Mission300's success hinges on private sector investment and effective energy compact frameworks. As Africa works towards electrification, it's essential to monitor progress and address challenges. #ElectrifyAfrica #PowerAfrica #AfricaDevelopment #EnergyAccess #SustainableEnergy