Africa Energy Summit ends with landmark declaration, pledging $50bn to electrify continent

30 African heads of state and government from across Africa have signed a groundbreaking declaration to mobilize $50 billion for the electrification of the African continent, aiming to build momentum for the ambitious goal of extending electricity to 300 million Africans.
The agreement, signed on the final day of the ‘Mission 300: Africa Energy Summit’ in Tanzania’s capital Dar es Salaam, marks a major step toward achieving universal access to electricity across Africa by 2030, an ambitious target set by the African Union and the United Nations. Despite Africa’s vast resources, over 600 million people on the continent still live without access to electricity, impeding progress in health, education, and economic development. This new funding will focus on scaling up renewable energy projects, expanding electricity grids, and accelerating off-grid solutions for rural and underserved areas.
The $50 billion commitment is the result of partnerships between African governments, international financial institutions, and private sector investors, including major energy firms and development organizations. The funding will be directed towards projects that prioritize clean, sustainable energy sources such as solar, wind, and hydropower. Describing access to electricity as “a fundamental human right,” Ajay Banga, president of the World Bank Group, stressed that “our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step,” adding that “to succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role – and only through collaboration can we achieve our goal.”