The World Bank Group, the African Development Bank, and The Rockefeller Foundation have launched the Mission 300 Private Sector Council to mobilize private investment aimed at connecting 300 million Africans to electricity by 2030 while creating jobs across the continent. The council will bring together 14 leaders from diverse sectors to drive strategies that attract capital, enhance deal-making, and scale catalytic finance platforms, particularly in local currency, to accelerate commercial investment in energy access and employment. Makhtar Diop of the International Finance Corporation and Ray Chambers of the MCJ Foundation will serve as Co-Chairs of the council.
Mission 300, supported by the World Bank, African Development Bank, Rockefeller Foundation, Global Energy Alliance for People and Planet, and Sustainable Energy for All, seeks to address the nearly 600 million Africans without electricity. Achieving this goal requires significant private sector engagement, with IFC and MIGA committing $5 billion to support private investment under the initiative by 2030.
Since its launch in 2024, Mission 300 has connected 44 million people to electricity, with 30 countries signing energy compacts aimed at expanding infrastructure, integrating regional power systems, embracing renewable energy, and boosting private investment. The Private Sector Council is expected to accelerate these efforts by linking policy reform, catalytic finance, and bankable projects, thereby supporting local industry and job creation.
The Rockefeller Foundation’s RF Catalytic Capital will host the council’s secretariat, which will meet quarterly. Half of Mission 300’s planned electricity connections will come from off-grid solutions, making private sector investment critical for scaling these options and achieving the initiative’s objectives. Andrew Herscowitz, CEO of the Mission 300 Accelerator, emphasized that collaboration between the council, IFC, and African Development Bank will help accelerate commercial investment and transform lives across Africa.
