🌍 Plan to provide 300 million Africans with access to electricity

• Mission 300 is the name of the plan to provide 300 million Africans with access to electricity by the end of 2030.
• A total of 90 billion dollars is needed to succeed.
• The World Bank and African Development Bank are contributing 30 billion dollars.

Ambitious plan to electrify Africa

A comprehensive initiative to provide 300 million Africans with electricity by 2030 has now begun. The plan, called Mission 300, is backed by an initial pledge of 30 billion dollars from the World Bank and the African Development Bank, reports Bloomberg.

The Rockefeller Foundation, Global Alliance for People and Planet, and Sustainable Energy For All have formed a technical advisory unit to review projects and help secure funding for those that qualify for the program. The goal is to raise a total of 90 billion dollars or more from various sources.

Focus on renewable energy

The program will focus on providing clean energy through technologies such as mini-grids. An example of a project that Mission 300 could support is the DARES project in Nigeria, where the World Bank has allocated 750 million dollars to expand the use of rooftop solar panels and mini-grids. This is expected to provide electricity to 17.5 million people in a country where about 85 million lack access to electricity.

Financing and reforms

The aim is to divide the 90 billion dollars needed in financing equally between public funds, concessional and philanthropic financing, and commercial commitments.

As part of the program, countries will be encouraged to increase their access to financing by committing to reforms that promote the expansion of green energy.

Major impact on the continent

Africa accounts for about three-quarters of the people in the world who lack access to electricity. Countries such as South Sudan, Burundi, and Chad have electrification rates of less than 12 percent of their populations. This limits productivity, hampers economic growth in some of the world's poorest countries, and poses a major health risk as many are forced to burn fuel indoors instead.

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