Latest news with #Mission300AfricaEnergySummit
Zawya
11-04-2025
- Business
- Zawya
$40B Africa Energy Fund Targets Universal Access – What it Means for Clean Cooking
A new $40 billion Africa Energy Fund, launched at the Mission 300 Africa Energy Summit in Dar es Salaam, aims to provide 300 million people with access to cleaner, more reliable energy by 2030. The initiative aligns with Africa's broader push for sustainable energy solutions, including clean cooking technologies, which remain one of the most critical yet underfunded sectors in the energy transition. As African Energy Week (AEW): Invest in African Energies 2025 approaches, discussions on scaling investment in clean cooking solutions will be high on the agenda, particularly in light of the commitments made by African nations to advance energy access. Access to clean cooking solutions remains one of Africa's most pressing energy challenges. Over 900 million people on the continent still rely on traditional biomass, such as wood and charcoal, for cooking. The health, environmental and economic consequences are severe – household air pollution from these fuels contributes to over 600,000 premature deaths annually, while deforestation and carbon emissions continue to rise. While electrification projects are a major focus of Africa's energy transition, clean cooking remains an urgent issue that requires targeted investment and policy support. The Fund is a step in the right direction and demonstrates global commitment to accelerating energy access and supporting Africa's transition to cleaner, more sustainable energy solutions. The World Bank has pledged $22 billion to support the initiative, while the African Development Bank has committed $18.2 billion. Additional contributions include $2.65 billion from the Islamic Development Bank and $1 billion from the OPEC Fund, highlighting strong financial backing from major international institutions. Several African countries have demonstrated strong commitments to expanding clean cooking access through national policies, targeted financing mechanisms and public-private partnerships. Kenya, seeking universal access by 2028, is advancing LPG expansion, electric cooking and bioethanol alternatives with support from private sector investment and international partnerships. By subsidizing LPG and investing in infrastructure, the country has significantly increased adoption rates. Neighboring Tanzania is integrating clean cooking solutions into its national electrification plan and broader energy transition strategy, supported by a dedicated National Clean Cooking Strategy. Meanwhile, Ghana has adopted a multi-pronged approach, enhancing the affordability of LPG and promoting efficient biomass stoves. The country is also raising public awareness of the health benefits of clean cooking, while encouraging local manufacturing of stoves and fuel alternatives. The newly-launched energy fund not only works to expand electricity access, but also to catalyze economic opportunities by powering industries, businesses and households. Reliable energy is a fundamental enabler of economic growth, and investments in clean cooking align with broader energy access goals by reducing health costs, increasing productivity and improving gender equality. AEW: Invest in African Energies 2025 – the leading energy event for deal-making, policy discussions and industry networking – provides a crucial platform for stakeholders to explore investment opportunities in clean cooking and broader energy access initiatives. Discussions will focus on mobilizing financing for clean cooking projects, including public-private partnerships and carbon credit mechanisms; strategies for integrating clean cooking into national electrification plans; and best practices from leading African countries and how their policies can be replicated across the continent. Discussions will also focus on scaling up investment in clean energy infrastructure, including off-grid electrification and innovative financing mechanisms for clean cooking technologies. With the launch of the Africa Energy Fund and growing momentum around clean cooking investments, Africa stands at a pivotal moment in its energy transition. Achieving universal energy access requires a multi-faceted approach that includes large-scale electrification projects, off-grid solutions and immediate interventions in clean cooking. AEW 2025 provides an opportunity for governments, businesses and investors to align their strategies and secure funding to drive impact. The commitment to connecting 300 million Africans to cleaner energy is ambitious, but with the right policies and investments, it is within reach – and clean cooking solutions must be a central part of the conversation. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
14-02-2025
- Business
- Zawya
World Bank Expands Support to Electrify Rural Eswatini, Reaching 200,000 People
A new World Bank financed project is helping set Eswatini on the path to universal energy access by 2030. The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) project for Eswatini will help the country reach the remaining 12% of the population with electricity access, ensuring that households in the most remote and disadvantaged areas benefit from improved access to energy and greater economic opportunities. 'This initiative is about the people of Eswatini, ensuring that every Liswati has access to electricity. Eswatini remains committed to universal energy access, as reaffirmed in our endorsement of the Dar es Salaam Energy Declaration at the recent Mission 300 Africa Energy Summit,' says Eswatini's Deputy Prime Minister, Honorable Thulisile Dladla. The newly announced support builds on the ongoing Network Reinforcement and Access Project Eswatini. It will follow an integrated approach for electrification following the country's Rural Electrification Plan and the National Energy Policy 2018. ASCENT Eswatini aims to provide electricity access to 200,000 people, ensuring that 50,000 new households are connected to electricity over the next five years. This represents a 20% increase from the 249,014 households connected in 2023. The initiative will utilize both grid and off-grid solutions to expand energy access, particularly in underserved rural communities, unlocking economic opportunities and improving the quality of life for Emaswati. The project will also provide critical technical expertise for assessments and studies aimed at increasing energy security, improving the sector's financial viability, strengthening planning, and building capacity in support of the government's goal of ensuring universal access to electricity for Emaswati by 2030. 'The ASCENT Eswatini project deepens the World Bank's engagement in supporting the country's development priorities. Expanding energy access is vital for economic growth, better livelihoods, and improved service delivery. We remain committed to supporting Eswatini to achieve universal electricity access by 2030, aligning with global efforts for equitable and sustainable energy solutions,' says World Bank Country Director for Eswatini, Satu Kahkonen. ASCENT Eswatini is the nineth phase of the ASCENT program developed by the World Bank for Eastern and Southern Africa. It has received $39 million in concessional funding from the International Development Association (IDA), a loan of $51 million from the International Bank for Reconstruction and Development (IBRD), and a performance-based grant of $10 million from the Livable Planet Fund (LPF1). ASCENT Eswatini will help Eswatini be among a handful of African countries to achieve Sustainable Development Goal 7 by 2030 while substantially increasing the share of renewable energy in its energy mix. 'By addressing these critical areas, the ASCENT Eswatini project will not only bolster energy access but also play a pivotal role in advancing Eswatini's development goals by improving living standards and fostering economic growth through the provision of reliable, inclusive, sustainable and clean energy,' says Eswatini's Minister of Economic Planning and Development, Honorable Thambo Gina.
Zawya
05-02-2025
- Business
- Zawya
Financiers commit over $50bln for Africa electricity connections
Multilateral lenders and global development finance institutions have pledged over $50 billion towards the Mission300 project that aims to connect at least 300 million Africans to energy by 2030, more than halving the continent's energy access gap. The financiers, including the World Bank, the African Development Bank (AfDB), the French Development Agency (AFD), the Islamic Development Bank (IsDB), the Asian Infrastructure Investment Bank (AIIB), and the OPEC Fund, are already financing projects on the continent, but have now committed to channelling more funds towards bridging the continent's energy gap. The financiers made their pledges during the Mission300 Africa Energy Summit in Dar es Salaam, Tanzania on Monday, vowing to finance the dream coined by the African Development Bank and the World Bank to cut Africa's energy access by over half in the next five years. The World Bank will give $22 billion, while the AfDB will give $18.2 billion through concessional loans or grants to countries for the improvement of energy infrastructure and management of utilities. Jeddah-based IDB has pledged the highest amount yet, with over $2.65 billion to be committed directly to the goal over the period, money that will mostly be lent to countries on concessional terms. IDB President Muhammed Al-Jasser said $1 billion of the money will come from the bank itself, $1.5 billion from its trade financier, the International Islamic Trade Finance Corporation (ITFC), and $150 million from its commercial arm. The commitment, he said, reflected the importance that the bank puts on electricity access, and an indication that it wants to pay more attention to the sector.'Electricity is one component that we have not paid sufficient attention to. It's the bloodline of development, it is a human right, it's a prerequisite of any activity,' he told the forum in Dar es Salaam on Monday. Beijing-based AIIB, which has over ten members drawn from Africa, including Kenya which joined last year, pledged $1 billion towards the mission. Jin Liqun, AIIB president, said the bank is already considering projects in several countries on the continent, including in Kenya and Rwanda. The OPEC Fund for Development also pledged $1 billion, with the possibility of adding another $1 billion over the next two years based on how African countries will commit to the mission and milestones made with the compacts made in the Dar summit. French President Emannuel Macron also announced on Tuesday that the nation's development agency AFD will be contributing $1.04 billion (€1 billion) towards the project.'Access is the cornerstone of a broader just energy transition that drives sustainable and inclusive development across the African continent and beyond. Mobilising for millions of households to have energy is a crucial solidarity-based investment,' noted AFD chief executive Remy Rioux. Foreign governments, including Norway, the United Kingdom, Germany and Italy, also made commitments to support the goal, either directly through aid and financing to countries or the through empowerment of multilateral organisations tasked with strengthening energy access. The Norwegian ministry of international development said it will increase its funding to the Energy Sector Management Assistance Programme by about $27 million, while the UK said it will add an additional $8.5 million to the Sustainable Energy Fund for Africa. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
29-01-2025
- Business
- Zawya
Africa Energy Summit, leaders commit to energy transformation with more than $50billion backing from global partners
Thirty African Heads of State and government today 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. The leaders pledged their commitment in a declaration during the two-day Mission 300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Mission 300 partners pledged more than $50 billion in support of increasing energy access across Africa. The Dar es Salaam Energy Declaration represents a key milestone in addressing the energy gap in Africa, where more than 600 million people currently live without electricity. The commitments in the Declaration are a critical piece of the Mission 300 initiative, which unites governments, development banks, partners, philanthropies, and the private sector to connect 300 million Africans to electricity by 2030. The Declaration will now be submitted to the African Union Summit in February for adoption. By addressing the fundamental challenge of energy access, Mission 300 serves as the cornerstone of the jobs agenda for Africa's growing youth population and the foundation for future development. Twelve countries—Chad, Côte d'Ivoire, Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania, and Zambia—presented detailed National Energy Compacts that set targets to scale up electricity access, increase the use of renewable energy and attract additional private capital. These country-specific plans are time-bound, rooted in data, endorsed at the highest level and focus on affordable power generation, expanding connections, and regional integration. They aim to boost utility efficiency, attract private investment, and expand clean cooking solutions. Deploying satellite and electronic mapping technologies, these compacts identify the most cost-effective solutions to bring electricity to underserved areas. 'Tanzania is honored 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. Implementing the National Energy Compacts will require political will, long-term vision and the full support from Mission 300 partners. Governments are paving the way through comprehensive reforms, complemented by increased concessional financing and strategic partnerships with philanthropies and development banks to catalyze increased private sector investment. Dr. Akinwumi A. Adesina, President of the African Development Bank Group, emphasized the need for decisive action to accelerate electrification across the continent. '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.' During the summit, partners announced a series of commitments: African Development Bank Group and the World Bank Group plan to allocate $48 billion in financing for Mission 300 through 2030, which may evolve to fit implementation needs Agence Francaise de Development (AFD): €1 billion to support energy access in Africa Asian Infrastructure Investment Bank (AIIB): $1 billion to $1.5 billion to support Mission 300 Islamic Development Bank (IsDB) Group: $2.65 billion in support of Mission 300 and energy access in Africa from 2025-2030 OPEC Fund: An initial commitment of $1 billion in support of Mission 300 with additional financing to follow World Bank Group and the African Development Bank Group: Launched Zafiri, an investment company that supports private sector-led solutions, such as renewable mini-grids and solar home systems. Zafiri anchor partners will invest up to $300 million in the first phase and mobilize up to $1 billion to address the persistent equity gap in Africa in these markets. The firm commitments made by governments and partners at the summit demonstrate the unique power of the Mission 300 partnership. 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. The Mission 300 Africa Energy Summit was hosted by the United Republic of Tanzania, the African Union, the African Development Bank Group (AfDB), and the World Bank Group (WBG), with support from the Rockefeller Foundation, ESMAP, Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL) and the Sustainable Energy Fund for Africa. Africa Energy Summit microsite ( Pictures ( Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information:
Bloomberg
28-01-2025
- Business
- Bloomberg
France's Macron Commits €1 Billion to Africa Electrification
French President Emmanuel Macron said his country will contribute €1 billion euros ($1.04 billion) to a World Bank-backed drive to increase access to electricity in Africa. The money will be channeled through the Agence Francaise de Developpement, a French state development bank, by 2030, Macron said in a video address to the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania on Tuesday.
