W’Bank commits $8.2bn to Africa’s power supply

The World Bank Group has committed $8.2bn to expand electricity access across Sub-Saharan Africa as part of a broader push to tackle one of the region’s most persistent development challenges, with nearly 600 million people still living without power.

The funding forms the backbone of “Mission 300”, a joint initiative with the African Development Bank Group aimed at connecting 300 million people to electricity by 2030. Under the plan, the World Bank targets 250m connections, while the African Development Bank is expected to deliver the remaining 50m.

The initiative, backed by a combination of public and private sector financing, has already mobilised an additional $1.2bn, with projects advancing across more than 40 countries and over 150 programmes underway, according to details published by the lender on its website.

Despite recent progress, access to electricity remains a major constraint on economic growth across the region. Without reliable power, hospitals struggle to function, agricultural productivity is limited, and businesses face high operating costs, undermining job creation and industrial development.

The World Bank said the programme is designed not only to expand access but also to drive broader economic transformation, linking electricity supply to job creation, digital connectivity, and industrial growth.

“Electricity is the bedrock of jobs, opportunity, and economic growth,” President of the World Bank Ajay Banga stated. “That’s why Mission 300 is more than a target; it is forging enduring reforms that slash costs, strengthen utilities, and draw in private investment.”