The World Bank Group has announced plans to more than double its annual guarantee issuance in Africa to $6.4 billion by 2030 through its Guarantee Platform managed by Multilateral Investment Guarantee Agency.
The initiative aims to attract private investment into key sectors across Africa, including agribusiness, energy, infrastructure, healthcare, digital services, finance, and trade. According to the World Bank Group, the expanded guarantees are expected to improve the lives of approximately 190 million people over the next four years while helping create large-scale employment opportunities.
Africa’s working-age population is projected to increase by 740 million over the next three decades, with nearly 12 million young people entering the labor market annually. Officials say increased investment will be critical to supporting economic growth and job creation across the continent.
The World Bank Group estimates that the new guarantees will mobilize around $23 billion in private capital for projects in Africa by 2030. Key initiatives supported under the programme include AgriConnect, designed to strengthen smallholder farming and food security, and Mission 300, a joint energy initiative with the African Development Bank aimed at connecting 300 million Africans to electricity by 2030.
Mission 300 is also supported by organizations including The Rockefeller Foundation, Global Energy Alliance for People and Planet, and Sustainable Energy for All.
According to projections released by the World Bank Group, the guarantee expansion could provide electricity access to 43 million people, improve financial inclusion for 50 million individuals and businesses, support food and nutrition security for 5 million people, and expand broadband internet access to 37 million people across Africa.
Tsutomu Yamamoto said Africa’s rapidly growing and youthful workforce presents a major economic opportunity, but sustained investment is needed to create quality jobs and strengthen long-term economic stability.
The World Bank Group Guarantee Platform, launched in 2024, consolidates guarantee products and expertise from across the institution to simplify investment support for developing countries. The broader global target of the platform is to increase annual guarantee issuance to $20 billion by 2030.
