African nations set to light up the homes of 300 million people by 2030
Several African nations have committed to open up their electricity sectors to attract investors and light up the homes of 300 million people currently lacking power over the next six years. "Mission 300" is driving the agenda at a two-day energy summit in Tanzania.
Nearly 600 million Africans live without access to electricity – higher than any other continent.
A plan dubbed "Mission 300", launched by the World Bank and the African Development Bank (AfDB) last April, is now racing to connect half of those homes to power by 2030.
The push aims to unlock at least $90 billion (€85 billion) in capital from multilateral development banks, development agencies, finance institutions, private businesses and philanthropies, according to the Rockefeller Foundation, which is part of the initiative.
"We want to expand and rehabilitate our electricity grids using the least cost possible," said Kevin Kariuki, vice president for infrastructure at the AfDB during a two-day energy summit of African heads of state in Tanzania's commercial capital, Dar es Salaam.
Multilateral development banks and commercial banks represented at the summit will use the country's commitments to persuade their clients to invest in Africa's energy sectors, said World Bank President Ajay Banga.
Read more on RFI EnglishRead also:Africa's nuclear dreams a fusion of high hopes and high hurdlesSouth Africa plunged into darkness with whopping six-hour power cutsHow much of Africa's energy needs can be met with renewables?
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