Africa Energy Summit: Mobilizing Financial Resources for Electrification

The Africa Energy Summit, set to take place in Dar es Salaam, Tanzania, from January 27 to 28, 2025, will focus on mobilizing financial resources to support electricity projects across Africa. The summit is backed by key organizations such as the African Development Bank Group (AfDB), the World Bank, and the African Union. It will bring together African Heads of State and government, private sector leaders, development partners, donors, sector experts, civil society organizations, and academic members.

The summit’s primary goal is to secure the financial resources, partnerships, and political commitment required to advance the Mission 300 plan and push Africa towards universal electrification. Launched in April 2024 by the AfDB and the World Bank, Mission 300 is an ambitious initiative that aims to provide access to electricity for 300 million people in Sub-Saharan Africa by 2030.

This initiative will combine infrastructure investment with comprehensive policy reforms throughout the entire electricity supply chain, aiming to transform lives, improve livelihoods, and enhance communities across the continent. Nearly 600 million Africans currently lack access to electricity, accounting for approximately 83 percent of the global energy deficit.

At the summit, countries are expected to unveil their National Energy Compacts, which will outline specific targets and reforms tailored to each nation’s context. These National Energy Compacts will be crucial for advancing electrification goals and strengthening regional energy systems.

The World Bank emphasizes that access to reliable, affordable, and sustainable energy is pivotal for powering African economies and fulfilling development aspirations. Electrification drives economic growth, creates job opportunities, and promotes investment and trade. “Mission 300 aims to accelerate electrification while ensuring that the transition to cleaner energy sources meets rising demand, fosters economic growth, and generates employment,” said the World Bank.

The initiative will focus on enhancing generation, transmission, distribution, regional interconnection, and sector reform to guarantee the quality, reliability, and affordability of electricity. Achieving the Mission 300 goal requires a coordinated effort, with governments playing a crucial role in enacting sector reforms and ensuring the financial viability of electricity utilities. The private sector must step up its investments in both grid-connected and distributed energy solutions, as well as explore new transmission and distribution models. Multilateral development banks and philanthropic organizations are also critical in mobilizing public and concessional financing for both on-grid and off-grid electrification efforts.

The Africa Energy Summit provides a unique opportunity for stakeholders to come together, forge new partnerships, and build the political and financial support needed to meet Africa’s growing energy needs. By mobilizing investments and aligning efforts across the continent, the summit will play a key role in advancing the continent’s electrification agenda, fostering sustainable development, and improving the quality of life for millions of Africans.