The World Bank Group has earmarked $8.2 billion to improve electricity access across Sub-Saharan Africa, intensifying efforts to address a power deficit that still leaves hundreds of millions without reliable supply.
The funding underpins “Mission 300,” a joint drive with the African Development Bank Group to connect 300 million people to electricity by 2030. Under the arrangement, the World Bank aims to deliver 250 million connections, while the African Development Bank is expected to account for the remaining 50 million.
According to details released by the lender, the initiative has already attracted an extra $1.2 billion in financing, with projects active in more than 40 countries and over 150 programmes underway.
Limited access to power continues to hinder growth across the region. Many hospitals, schools, farms, and small businesses operate under severe energy constraints, raising costs and limiting productivity. Development experts say improving electricity supply is central to unlocking industrial growth, job creation, and digital inclusion.
World Bank President Ajay Banga described electricity as fundamental to economic opportunity, noting that the programme goes beyond grid expansion to include reforms that strengthen utilities, lower operating costs, and encourage private investment.
A core feature of the initiative is the introduction of National Energy Compacts – reform plans led by participating countries to improve sector governance, attract capital, and align long-term policy with energy expansion goals. The programme also promotes competitive procurement, cross-border power trade, and risk-sharing mechanisms to draw in private sector players.
President of the African Development Bank Group, Sidi Ould Tah, said access to dependable and affordable electricity could quickly transform small businesses, agro-processing ventures, and digital services, which are seen as major sources of employment for young Africans.
Beyond economic impact, the lenders expect better electricity access to improve daily life for households by enabling safer cooking options, improved learning conditions, and stronger healthcare delivery through consistent lighting and refrigeration for medicines.
The World Bank added that the pace of new connections under the initiative is currently running significantly faster than previous electrification efforts, as reforms and investments begin to yield results.
Mission 300, the institutions say, is intended to lay the groundwork for long-term, sustainable energy systems capable of reaching both urban centres and remote communities across the continent.
