AfDB President Calls for Africa’s Power Revolution

President and Chairman of the Board of Directors of the African Development Bank (AfDB) Group, Dr. Akinwumi Adesina has emphasised the need for urgent action to accelerate electrification across Africa as a key driver of the continent’s development.

He made the call while speaking on “Taking Africa’s Energy Agenda to the Next Level” at the ongoing Mission 300 Africa Energy Summit on Monday in Dar es Salaam, Tanzania.

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“I want to begin by thanking His Excellency President Zulu Aznani for hosting us in this beautiful country of Tanzania and everyone here for joining this global mission to ensure Africa has the electricity it needs to power itself.

“Over 571 million Africans remain without access to electricity, accounting for 83 percent of the global population living without it. This must change.

“This isn’t about us as institutions; it’s about the millions of people without access to electricity. We must act for them. This summit must be action-driven.

“Countries must prioritise last-mile connectivity, reform utilities, and reduce technical and financial losses. Regional power-sharing agreements are also crucial,” he added.

The Mission 300 initiative, a partnership spearheaded by the African Development Bank, the World Bank, and key global stakeholders, aims to provide electricity to 300 million Africans by 2030.

As part of this mission, energy compacts are being signed with 12 countries to ensure access for 145 million people.

On the private sector role and investment climate, Adesina acknowledged the private sector’s critical role in achieving energy goals, emphasising the importance of creating a conducive regulatory environment.

#PoweringAfrica: This is a global mission to ensure that Africa has electricity to power itself. This is mission critical. – @AfDB_Group President @akin_adesina at the #Mission300 Africa Energy Summit in #Tanzania. pic.twitter.com/y0hJ4PSgcB

— African Development Bank Group (@AfDB_Group) January 27, 2025

 “Private investors need predictable and transparent policies. The cost of capital in Africa is three to four times higher than in other regions, which must be addressed.

“The summit also underscores the broader implications of electrification for economic growth, job creation, and human dignity.

“Electricity is a human right. It powers education, healthcare, digitisation, and economic opportunities. Without it, we cannot develop.

“We cannot develop in the dark. Together, we will light up and power Africa,” he said.

Also, Mr Ajay Banga, President of the World Bank Group, while highlighting progress made since the initiative’s launch in 2024, noted that regulatory reforms and geospatial mapping were helping to streamline efforts.

He added that the bank had financed partnerships, including a 30 billion dollar to 40 billion dollar commitment, aimed at transforming energy access across the continent.

Meanwhile, Dr Rajiv Shah, President of the Rockefeller Foundation, commended the summit’s African-led approach.

He stated, “This effort must be African-led at every level. With over 30 heads of state committing to energy compacts and private sector engagement, this is an extraordinary moment.

“An extraordinary gratitude and thanks to both Ajay and Akin for the leadership, they and their institutions and all the work that the teams have shown to bring us to this point.

“You’re right. The world should ask itself, does this summit in Tanzania matter? Will it deliver something that has a chance to be wildly successful? Frankly, at a time when a lot of global politics have moved toward a more inward and populist focus around our planet.

“I am extremely confident that the answer to that question is yes, and there are three core reasons why. The first is we all know, everyone in this room knows, to have any chance of being successful, this effort has to be African-led at absolutely every level.”

The summit aims to support the implementation of the Continental Master Plan and the African Single Electricity, while the 12 countries are expected to pledge reforms in low-cost power generation, regional energy integration, increased energy access, enabling private investment, and utility strengthening.

Tagged: ‘Mission 300 Africa Energy Summit,’ and described as ‘’a landmark’’ convention, hosting African Heads of State and Government, the approach is to work toward increased infrastructure investment and comprehensive policy reforms across the entire electricity supply chain to transform lives and improve livelihoods and communities across the continent.

Under the arrangement, over 1,000 participants from across Africa and beyond have assured the world to make the all-important event a crucial milestone engagement in the continent’s journey toward universal energy access.

The process, according to the organisers, will also further consolidate the progress already made towards widespread electrification towards achieving the projected 300 million beneficiaries.

Though it is claimed that about 600 million people lack access to electricity, representing 83 percent of the global energy deficit, the organisers view the convergence of the stakeholders toward the electrification of the affected regions as a step in the right direction.

 

 

 

NAN