World Bank has emphasized that affordable and reliable electricity is crucial for Africa’s economic growth, job creation, and poverty reduction.
Despite global progress over 150 years, about 600 million Africans lack access to power, with unreliable supply causing business disruptions and reducing employment by up to 14%.
They explained Improved energy access can boost sectors like agriculture, manufacturing, mining, and tourism, leading to significant productivity gains. To support this, the World Bank plans to invest $30 billion over five years through its Mission 300 initiative to electrify 300 million Africans by 2030. Also, Several successful projects across the continent, such as in Ethiopia, Tanzania, Senegal, and Sierra Leone, demonstrate how expanding electricity access creates jobs and enhances productivity. The bank highlights that powering industries, health facilities, and small businesses is vital for building a resilient and skilled workforce capable of fostering long-term growth.
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