Dar es Salaam: Dr Akinwumi Adesina, President and Chairman of the Board of Directors at the African Development Bank (AfDB) Group, has called for urgent action on electrification to drive Africa’s development. He made this call during his speech on ‘Taking Africa’s Energy Agenda to the Next Level’ at the ongoing Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.
According to News Agency of Nigeria, Adesina emphasized Africa’s significant energy challenges, noting that the continent loses a substantial portion of its GDP annually due to lack of electricity. He highlighted that over 571 million Africans are without access to electricity, representing a major portion of the global population living without it. He stressed the need for collaboration among governments, private sector players, civil society, and development partners to tackle the energy crisis.
Adesina urged African governments to set an example by increasing investments in power infrastructure, including generation, transmission, and distribution. He called for prioritizing last-mile connectivity, utility reforms, and reduction of technical and financial losses. He also highlighted the importance of regional power-sharing agreements.
The Mission 300 initiative, a collaborative effort led 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. Adesina stressed the importance of accountability, emphasizing that the summit’s focus is on delivering tangible results rather than mere discussions.
Adesina acknowledged the crucial role of the private sector in achieving energy goals, highlighting the need for a conducive regulatory environment. He pointed out that the cost of capital in Africa is significantly higher than in other regions and that this issue needs to be addressed. The summit also emphasized the broader implications of electrification for economic growth, job creation, and human dignity, with Adesina stating that electricity is a human right necessary for development.
The commitment of the AfDB and its partners to Mission 300 was reaffirmed, with Adesina urging all stakeholders to work together to achieve its success. Mr Ajay Banga, President of the World Bank Group, also highlighted progress made since the initiative’s launch, including regulatory reforms and geospatial mapping efforts. He noted the World Bank’s significant financial commitment to transforming energy access across Africa.
Meanwhile, Dr Rajiv Shah, President of the Rockefeller Foundation, praised the summit’s African-led approach and commended the commitment of over 30 heads of state to energy compacts and private sector engagement. He expressed confidence in the summit’s potential for success, emphasizing the importance of African leadership at every level.
The summit aims to support the implementation of the Continental Master Plan and the African Single Electricity initiative, with the 12 countries expected to pledge reforms in areas such as low-cost power generation, regional energy integration, increased energy access, and utility strengthening. Over 1,000 participants from Africa and beyond have committed to making the summit a crucial milestone toward universal energy access on the continent.