The World Bank Group, in partnership with the African Development Bank and The Rockefeller Foundation, has launched the Mission 300 Private Sector Council to accelerate efforts to expand electricity access across Africa. The initiative aims to connect 300 million people to electricity by 2030 while simultaneously driving job creation and economic development. Recognizing the scale of investment required, the council is designed to mobilize significant private sector participation and unlock billions in funding.
The newly established council brings together senior leaders from diverse industries to guide strategies that attract private capital, strengthen deal-making capabilities, and scale innovative financing solutions. A strong emphasis is placed on leveraging catalytic finance and local currency investments to support commercially viable energy projects. By aligning business expertise with development goals, the council seeks to translate ambitious targets into tangible outcomes across the continent.
Mission 300 builds on ongoing efforts to address Africa’s significant electricity access gap, with nearly 600 million people still lacking reliable power. Since its launch in 2024, the initiative has already connected tens of millions of people to electricity and has seen multiple countries commit to energy compacts aimed at expanding infrastructure, integrating regional power systems, and increasing the adoption of renewable energy sources.
Private sector engagement is central to achieving the initiative’s goals, as a substantial share of required investments is expected to come from commercial sources. Institutions such as the International Finance Corporation and the Multilateral Investment Guarantee Agency have committed substantial financial support to catalyze private investment and reduce risks associated with large-scale energy projects.
In addition to expanding grid infrastructure, the initiative also prioritizes off-grid energy solutions, which are expected to play a crucial role in reaching underserved populations. By combining policy reforms, financing mechanisms, and private sector expertise, Mission 300 aims to accelerate progress toward universal energy access while fostering sustainable economic growth and employment opportunities across Africa.
