The African Energy Conference has introduced the Mission 300 initiative, which aims to provide electricity access to 300 million Africans, including those in Ethiopia, over the next five years. This initiative is designed to significantly broaden access to electricity across the continent.
The African Development Bank (ADB) has revealed that the project has secured $53.95 billion in funding from various partners, including the World Bank, the Islamic Development Bank, the Asian Infrastructure Investment Bank, the French Development Agency, the OPEC Fund and the ADB itself.
World Bank President Ajay Banga noted that the project’s goal is to provide electricity to half of the 600 million Africans currently without power.
He highlighted that the initiative is being carried out in partnership with governments, private sector organizations, non-profits, and development banks.
At a summit held in Dar es Salaam, Tanzania, earlier this week, leaders from 30 African nations reaffirmed their commitment to achieving universal and reliable electricity access by 2030.
They pledged to tackle the challenges that have left 600 million people without electricity by implementing the necessary reforms and investments.
In particular, Ethiopia is focusing on an energy policy aimed at increasing its electricity access rate from the current 54% to 78%. The country plans to provide electricity to an additional 3.4 million households annually as part of this initiative.