"The African Development Bank (AfDB) and the World Bank (WB) presented in Rabat their joint initiative, Mission 300 (M300), which aims to provide 300 million electricity connections in Africa by 2030.”
Anchored in the national energy compacts led by the countries themselves, M300—an initiative to which an entire day was dedicated on the sidelines of the Africa Investment Forum (AIF) 2025—aims to transform energy access through coordinated partnerships, policy reforms and private sector investment.
Speaking on this occasion, Kevin Kariuki, Vice President for Energy, Climate and Green Growth at the African Development Bank (AfDB), stressed that Mission 300—supported by the Rockefeller Foundation, the Global Energy Alliance for People and Planet (GEAPP) and the Sustainable Energy for All Forum—relies on promising partnerships with governments, the private sector and civil society.
He emphasized the relevance of holding this dedicated day alongside the AIF, recalling that the private sector is a key pillar of Mission 300. For him, this is a firmly held conviction, as private-sector engagement lies at the heart of the initiative’s five strategic pillars.
Kariuki also revealed that preliminary analysis of the energy compacts of 29 countries shows that 50% of the financing needed for their implementation will come from the private sector. He encouraged the countries presenting their energy compacts at the Forum (Comoros, Ethiopia, Gambia, Lesotho and Guinea) to do so with ambition in order to attract the financing required for critical investments.
For his part, Erik Fernstrom, Regional Practice Manager at the World Bank, welcomed the gathering of leaders, expertise and capital to develop investment opportunities and strategic partnerships aimed at achieving the goals of Mission 300.
He praised the strong commitment of the AfDB and the World Bank, alongside the 29 countries involved in implementing their national energy compacts.
Highlighting encouraging results, Fernstrom noted that the two institutions will continue their efforts on connectivity, implementing nearly 90 projects to expand energy access and around 60 additional projects covering the broader energy sector—including transmission networks, renewable energy generation, and the reform and restructuring of public utilities.
In this regard, he cited Morocco’s remarkable progress since the early 2000s, achieving universal energy access at 100%, as an example that many partner countries aspire to replicate.
Building on insights from previous stages in Tanzania, London and New York, as well as from the upcoming African Climate and Mobility Forum (ACMF) in Johannesburg, M300 partners are offering a series of dedicated engagements at the AIF, combining transaction deep-dives, peer learning and targeted matchmaking opportunities between governments and private investors.
Held from November 26 to 28 under the theme "Closing the Gaps: Mobilizing Private Capital to Unlock Africa’s Full Potential,” the AIF serves as an investment platform designed to facilitate international investments in Africa by bringing together project sponsors, financiers, governments and other key stakeholders, with the objective of concluding deals.