Islamic Development Bank (IsDB)’s Post

In the last decade, Africa witnessed rapid increase in first-time electricity access through concerted efforts and deliberate funding from public and private quarters. Electrification programs havr been primarily implemented through centralized and decentralized electrification strategies such as grid densification schemes, minigrids offgrid, and solar home systems. The good news is that access to electricity grew from 40% in 2015, to 56% during this period, corresponding to a total installed electricity generation capacity growth from 100GW to 245GW as of 2022. While such stats may paint an optimistic growth trend, Africa remains highly succeptible to shocks on the international energy and commodietie market. For context, the Global Energy crisis due to the Covid 19 pandemic in 2020 and subsequent consequences of the economic fallout from the 2022 war in Ukraine tremendously slowed and reversed by electricity acces 4%. Africa's path to economic prosperity and Net-Zero is one that goes beyond household electrification. Africa needs, and deserves energy for industry, commerce and mobility. Africa deserves ENERGY JUSTICE AND EQUITY to attain SDG 7. How do we get there? 1. Scaling-up private and public sector investment in new generation, transmission and distribution infrastructure and new energy technologies and delivery systems. 2. Make modern sustainable energy available to the entire continent. 3. Pursue a modern energy minimum of 1,000 kWh per capita consumption. 4. Lifting development finance restrictions currently limiting funding of projects in Africa. 5. Prioritizing medium-term investment in resources that can ramp up and meet local energy development needs ie. cobalt for BESS and natural gas. 6. Prioritize jobs creation in the new sustainable energy sector that benefit local economies, local supply chains and are aligned to national energy transition plans. 7. Catalyze a step-change in technology transfer mechanisms to ensure that the entire continent has access to the latest energy innovations, on fair terms. Africa's historically low emissions, and ambition to create economy-wide low-carbon development must be anchored on Energy Justice and Equity. It's imparative for the global discource to include a just and equitable energy transition for Africa. #SE4All #MandelaWashingtonFellowship2024 #SDG7 #YALI

The World Bank and the African Development Bank Group announced a joint initiative that aims to bring electricity to over 300 million Africans by 2030. This ambitious goal requires over $30 billion in investment, with a focus on leveraging both public and private sector resources. JCG, being an investor in innovative solutions that democratize energy access lauds such impactful collaborations that support development in Africa. Access to electricity is not just about power; it's about unlocking opportunities for education, healthcare, innovation, and economic growth. We look forward to the roll-out of this program that will drive positive change and empower communities across the continent. 🌐https://lnkd.in/dv8M-7XP #JCG #ElectrifyingAfrica #SustainableDevelopment #PoweringOpportunities

🌍 Electrifying Africa: A 2030 Vision to Connect 300 Million 🌍 🚀 Big moves from the The World Bank and the African Development Bank Group! They're launching a vital partnership to electrify Africa and connect 300 million people by 2030. Here's why this matters: 🤝 United for Impact: Combining forces with global financiers, African governments, and the private sector, this initiative targets the vast electricity gap in Sub-Saharan Africa. It's all about maximizing impact through collaboration. ⚡ Innovative Energy Solutions: Imagine every remote area powered by sustainable solar and wind technologies. With an ambitious $30 billion investment, this project is set to outpace population growth with smart, scalable energy solutions. 💼 Driving Prosperity: Access to reliable electricity can transform lives—improving health, education, and economic opportunities. It’s not just about power; it’s about empowering communities for sustained growth and job creation. 🌱 Sustainable and Strong: This effort aligns with global goals for sustainability, tackling policy reforms and infrastructural challenges to build a resilient energy future. 🌟 Igniting Hope and Opportunity: By 2030, this partnership could light up the lives of half the Africans currently without electricity. It’s more than light; it’s about brightening futures and fueling economic transformation. 🔗 Join the Conversation: What will make this project succeed? How can the private sector amplify this impact? Let’s talk about building a sustainable and prosperous future for Africa. 👉 #Follow for more updates on game-changing global initiatives. Let’s power a brighter, greener future together!🚀🌍👌🏽 🔖 #PoweringAfrica #SustainableEnergy #EconomicGrowth #GlobalDevelopment #RenewableEnergy #WorldBank #AfricanDevelopmentBank #ClimateAction #InnovationInEnergy #EnergyAccess #InfrastructureDevelopment #SDGs #GreenTech #PublicPrivatePartnership #InvestInAfrica #EnergyTransformation #SustainableDevelopment #ImpactInvesting #CleanEnergy #FutureOfEnergy #connect #likeandshare

Yesterday marked the start of the #Mission300 Africa Energy Summit, and I closely followed the proceedings online. It served as a powerful reminder of our shared responsibility in shaping #Africa's energy future. I was deeply inspired by the unwavering commitment from governments, the private sector, and international partners to accelerate #energy access for 300 million Africans by 2030. Dr. Akinwumi Adesina, President of the African Development Bank Group acknowledged the need to address the "energy trilemma"– ensuring energy access is affordable, reliable, and sustainable. He emphasized the importance of policy reforms, infrastructure improvements, and fostering regional energy cooperation to achieve this goal. I also found the panel session anchored by Mrs. Damilola Ogunbiyi particularly insightful. She led a dynamic discussion with key heads of state, exploring critical policies and reforms necessary to transform Africa's energy landscape. The announcement of the Mission 300 Accelerator by Ashvin Dayal, Senior Vice President of Power & Climate at The Rockefeller Foundation, is a significant development. This initiative has the potential to significantly accelerate the implementation of crucial energy projects across sub-Saharan Africa. The second session is currently underway, and I am closely following the discussions. It's clear that this ambitious initiative to electrify 300 million Africans by 2030 has taken off on a strong note, with numerous commitments and a promising outlook for public-private partnerships. #Mission300 #PoweringAfrica #RenewableEnergy #HR #Nigeria #SANYNigeria #EnergyAccess #AfricaRising

Africa🌍 is launching an #EnergyRevolution to realize its potential. For the first time in over a decade, the number of people without electricity is increasing, with Sub-Saharan Africa accounting for 83% of this global deficit. A just energy transition can create a human-centered future of work, transforming economies and societies while promoting decent work, reducing inequalities, and ensuring no one is left behind. Immediate action is essential to expand sustainable solutions. This requires robust financing and market development strategies in synchronization with policy interventions and government actions, thriving innovation ecosystem supported by digital technologies to optimize energy management and distribution. At this week’s Africa Energy Forum #AEF2024, we are addressing these challenges directly, exploring ways to accelerate a just transition through innovative financing mechanisms. Learn more about the Africa Energy Revolution 👉🏼https://lnkd.in/eUSg2uwm

#PoweringAfrica: African Ministers Welcome Bold Mission 300 Initiative to Expand Electricity Access At the #Mission300 Africa Energy Summit, ministers from #SouthAfrica, #Zambia, #Kenya, Côte d'Ivoire and #Nigeria emphasised that while each country faces unique challenges, achieving universal electricity access will require strong political leadership, policy reforms, and private sector investment. "Every country will be able to carve its own unique path," said South Africa's Minister of Electricity, Dr. Kgosientsho Ramokgopa. He outlined three key priorities: affordability and accessibility, a just and affordable transition, and regional interconnectivity. "Essentially, we see ourselves as a network of countries linked by these regional power pools." Nigeria Finance Minister and Coordinating Minister of the Economy, Wale Edun, highlighted the country's progress in attracting private investment: "Since the regulation of the sector, we've had 150 mini-grids set up and a million standalone solar connections in recent times." Dr. Kevin KARIUKI, African Development Bank Vice President for Power, Energy, Climate and Green Growth opened the panel by outlining Mission 300’s ambitious scope: "We shall provide fast and energy-efficient solutions to 300 million people across Africa. It is difficult, it is challenging, but cost-effective outcomes can play a crucial role." More from the high-level discussion: https://bit.ly/4jAw5vi

Accelerating Clean Energy Investment In Africa: Challenges And Opportunities For Sustainable Development – IEA Energy is crucial for Africa’s long-term prosperity, enabling sustainable economic growth, improving human well-being, and supporting healthier and more productive lives. The recent energy crisis, exacerbated by the COVID-19 pandemic and global economic disruption, has significantly impacted many African countries. Modern energy services remain a pressing concern, particularly in sub-Saharan Africa, where half the population lacks electricity, and four out of five people do not have access to clean and healthy cooking methods. Rising energy prices and financial challenges faced by electricity utilities have reversed previous progress in expanding energy access. This situation underscores the urgent need for substantial investment […] Read the full story here: https://lnkd.in/dQWFHX-F #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #africa #cleanenergy #finance&investment #iea #renewableenergy #report

Leaders from 27 African nations have endorsed Mission 300, a multi-billion dollar initiative backed by The World Bank and African Development Bank Group to expand electricity access across sub-Saharan Africa. With an expected investment of up to $85 billion, this initiative aims to connect 300 million people by 2030, driving economic growth and improving lives through renewable energy and private sector investment. #EnergyConnects #energynews #energyindustry #news #oott #renewableenergy

The World Bank Group and African Development Bank Group are partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030. The World Bank Group will work to connect 250 million people to electricity through distributed renewable energy systems or the distribution grid while the African Development Bank Group will support an additional 50 million people. Access to electricity is a fundamental human right and is foundational to any successful development effort. Currently, 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation. "Electricity access is the bedrock of all development. It is a critical ingredient for economic growth and essential for job creation at scale. Our aspiration will only be realized with partnership and ambition. We will need policy action from governments, financing from multilateral development banks, and private sector investment to see this through," said Ajay Banga, World Bank Group President. Read more: https://lnkd.in/ePmqmQFa #RenewableEnergy #Solar #Africa

We were pleased to learn about the positive outcomes of the Mission 300 Africa Energy Summit, which launched an important initiative to connect 300 million Africans to electricity by 2030. This collaboration between the African Development Bank Group, the The World Bank and global partners is a significant step toward addressing Africa’s energy access challenges. Here are some of the key outcomes: 🔹 The Dar es Salaam Energy Declaration: African governments committed to reforming the energy sector with practical, actionable steps aimed at accelerating progress. 🔹 National Energy Compacts: 12 countries (Chad, Côte d'Ivoire, DRC, Liberia, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania, Zambia) presented their country-specific energy compacts with targets and timelines for implementing critical reforms. 🔹 Pledges from Multilateral Institutions: - Islamic Development Bank: USD 2.65 billion - Asia Infrastructure Investment Bank: USD 1.5 billion - OPEC Fund: USD 1 billion (with additional funding to follow) - Agence Française de Développement: USD 1 billion 🔹 Partnerships: Sustainable Energy for All (SEforALL) The Rockefeller Foundation and the The Global Energy Alliance for People and Planet (GEAPP) are supporting the collaboration between the African Development Bank and the World Bank Group to close Africa’s electricity access gap. We are aligned with the mission and fully support the summit's objectives. While Beyond the Grid Fund for Africa is already driving progress on electrification in Africa, our upcoming PURE Growth programme will build on this momentum, focusing on the productive use of renewable energy, food security, and sustainable economic growth. We’re looking forward to being part of this collective effort, helping drive Africa’s transition to clean energy, create jobs, and improve livelihoods across the continent. 👉 Learn more about the initiative: https://lnkd.in/duUaxQ97 #PoweringAfrica #SDG7 #SDG13 #CleanEnergy #RenewableEnergy #EnergyAccess #EnergyTransition #SolarEnergy #SolarPower #Solar #Renewables #ClimateFinance #ClimateAdaptation #TransformativeImpact #ClimateMitigation #Sustainable #SustainableDevelopment #ClimateAction #ClimateResilient #ClimateChange #3xRenewables #LowCarbon #ZeroEmissions Beyond the Grid Fund for Africa African Development Bank Group The World Bank