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AkweyaTV > Blog > Development > African Leaders Pledge $50B to Power 300M People
DevelopmentGeneral NewsInternational News

African Leaders Pledge $50B to Power 300M People

AkweyaTV
Last updated: January 31, 2025 3:48 pm
By AkweyaTV
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Thirty African heads of state have committed over $50 billion to expand electricity access across the continent, launching an ambitious initiative to power 300 million people by 2030.

At the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, leaders formalised the Dar es Salaam Energy Declaration, targeting Africa’s critical electricity deficit, where more than 600 million people currently lack power.

AfDB president, Akinwumi Adesina (3rd right)

Twelve countries, including Nigeria, Senegal, and the Democratic Republic of Congo, presented national energy compacts outlining strategies to scale up electricity access through renewable energy and clean cooking solutions.

“Our collective effort is to support heads of state in developing clear, country-led national energy compacts,” said the African Development Bank Group (AfDB) president, Akinwumi Adesina.

World Bank President Ajay Banga emphasised the collaborative approach, stating that “access to electricity is a fundamental human right” and that success requires cooperation between governments, businesses, philanthropies, and development banks.

Tanzanian President Suluhu Hassan, hosting the summit, described the gathering as a “monumental” opportunity to transform lives and economies through expanded energy access.

The declaration will be submitted for adoption at the African Union Summit in February, marking a significant step towards addressing the continent’s energy challenges.

Critical reforms proposed include expanding renewable energy, improving utility performance, ensuring transparency in power agreements, and establishing predictable tariff regimes.

The initiative represents a comprehensive effort to bridge Africa’s energy divide, with leaders committing to provide reliable, affordable, and sustainable electricity to millions across the continent.

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TAGGED:AfDBAfrica Energy SummitAfrican leaders
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