The World Bank Group and the African Development Bank Group revealed the milestone on Tuesday, saying the programme has now delivered electricity access across 40 countries at a much faster rate than when it began in 2024.

Mission 300 focuses on the entire power chain, from electricity generation and transmission to distribution and last-mile connections.

According to the two institutions, that approach has helped expand both grid and off-grid electricity access, bringing power to homes, businesses and public institutions more quickly.

Tanzania recorded one of the largest growth under the programme. About 7.5 million people have been connected to electricity, five times the country’s average annual electrification rate before Mission 300.

In Ethiopia, 4.6 million people have received access to power after reforms helped reduce the cost of connecting to the national grid.

The programme also aims to bring governments, development partners and private investors together under a common plan for expanding energy access.

Organisers said stronger political commitment, policy reforms and increased financing have helped speed up progress in participating countries.

So far, the World Bank Group and the African Development Bank Group have committed nearly $15 billion to Mission 300 projects. The initiative has also attracted around $4.5 billion in co-financing, while other development partners have pledged more than $7 billion to support Africa’s energy sector.

Mission 300 has also sought to encourage greater private sector participation in electricity projects. In combining policy reforms with grants, guarantees and concessional loans, the programme aims to reduce investment risks and make it easier for companies to serve communities that were previously considered difficult or expensive to reach.

In Nigeria, more than 4.5 million people have been connected through projects led by private sector operators, highlighting the role of public support and partner funding in expanding electricity access.

Another part of the initiative is the development of National Energy Compacts, which are country-led plans designed to strengthen power systems, increase affordable electricity generation, expand renewable energy use and encourage private investment.

Thirty countries have already launched the compacts. Burkina Faso, the Central African Republic, Djibouti, Gabon, Rwanda and Uganda are expected to unveil theirs during this week’s Africa Energy Forum.

Speaking on the milestone, World Bank Group President Ajay Banga said:

“Fifty million people connected is a milestone, but the bigger story is the pace and the partnership behind it. Mission 300 is helping countries move faster, connect more people, and build a platform that will last well beyond this effort, one others can use, build on, and scale for years to come. 

“At the end of the day, electricity is not just about power. It is about what it enables: jobs, business, health care, education, and opportunity.”

President of the African Development Bank Group Sidi Ould Tah said the achievement should encourage faster action across the continent.

“The 50 million milestone is indeed commendable. This must become the launchpad for faster electrification to enhance food security on account of affordable irrigation; increase capacity to store medicines for better health outcomes, and spur more inclusive economic and social empowerment.

“Governments, partners, private sector, and others who comprise what has evolved into an M300 movement must double down to achieve access for 300 million people by 2030. We need all hands on deck, literally!”

Development partners backing the initiative also welcomed the progress.

Rajiv J. Shah, president of The Rockefeller Foundation, said:

“Connecting over 50 million to electricity is a major milestone for Mission 300. It proves that African-led big bets, empowered by bold investment and partnership, can deliver results quickly and at scale. The Rockefeller Foundation, along with the Global Energy Alliance, has committed more than $100 million to Mission 300 because we know that every new connection means a family with new access to the jobs, education, and the dignity they deserve.”

Damilola Ogunbiyi, CEO and special representative of the UN Secretary-General for Sustainable Energy for All, said the programme was producing tangible results across the continent.

“The 50 million milestone shows that Mission 300 is moving beyond ambition and delivering real results for people across Africa. These achievements reflect the strong political commitment and implementation capacity of African governments.

“Together with our partners, Sustainable Energy for All will continue to support governments in implementing their National Energy Compacts and accelerating progress towards universal energy access by 2030.”

Woochong Um, CEO of the Global Energy Alliance for People and Planet, said collaboration between governments, development institutions and private investors would remain important as the programme expands.

Launched in 2024, Mission 300 is a joint initiative of the World Bank Group and the African Development Bank Group. The programme is supported by The Rockefeller Foundation, the Global Energy Alliance for People and Planet, Sustainable Energy for All, governments, development institutions and private sector partners.

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This partnership is intended to support key sectors, including agriculture, infrastructure, housing, energy, and small and medium-sized enterprises (SMEs), addressing the demand for funding that is both accessible and viable for businesses operating in naira.

Through this collaboration, IFC will be able to mitigate currency risks while scaling up investments in Nigeria’s economy by targeting essential areas that drive growth and employment. 

The organisation has set a goal to inject over $1 billion in financing over the coming years, focusing on sectors that particularly benefit from local currency availability.

Governor Yemi Cardoso of the CBN noted that the agreement shows progress in Nigeria’s approach to enabling economic growth. 

He emphasised that the partnership between IFC and CBN will provide sustainable long-term financing solutions to private businesses at rates that support their expansion, bringing conventional intervention programmes to a more structured economic diversification model.

IFC’s Managing Director, Makhtar Diop, also commented on the initiative, pointing to the importance of providing affordable financing options in naira to meet the rising need for diversified funding solutions. He noted that this collaboration would spur lending activities within Nigeria, furthering job creation and economic stability.

The IFC currently maintains an investment portfolio in Nigeria, valued at approximately $2.13 billion, making it one of the largest portfolios in Africa. Local currency financing has become a priority for the organisation, with a vision to continue exploring innovative financial tools to expand its support across emerging markets.

As part of its global mission, the IFC mobilising private capital to create sustainable economic opportunities. The institution’s recent commitment of $56 billion to private companies in fiscal year 2024 is a drive to address development challenges in various countries through market-driven solutions and strategic partnerships.

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The World Bank is providing $750 million in financial support to the Federal for on-lending to the states.

According to the Federal Government, the Federal Capital Territory is also anticipated to receive $15 million from the fund.

Clement Agba, Nigeria’s Minister of State for Budget and National Planning provided the information to journalists on Monday in Abuja.

Agba emphasized that the fund would be performance-based and stated, “N950 million has been distributed thus far to each state. The states are required to use this money in accordance with the agreements they have made, as laid forth in the templates on the topic of livelihood (conditional cash transfers) or the category of Micro Small, and Medium Enterprises.

He stated that impartial accessors from outside the states would go to each one to see what they had submitted and assess their ability to use and manage the monies.

“The states can get a maximum of $20 million tied to their performance. The independent accessors would give the nod before states can make such access,” he said.

Commenting on the reports on Nigeria’s multidimensionally poor report released recently by the National Bureau of Statistics, the Minister said proper spread and mapping of developmental projects would lessen rising poverty.

He noted that the Budget and National Planning ministry was willing to work with states on a proper spread of projects, to lessen rising incidences of rural poverty.

“The multi-dimensional poverty report which revealed 133 million Nigerians are multi-dimensionally poor was produced in partnership with the states and federal government.

“We are still lagging behind on rural poverty. It will take the media to get the conversation going till we get it right by keeping these issues at the front burner at both state and local government levels,” he added.

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The winning startups of the Global Women’s HealthTech Awards selected by a panel of industry experts include Antiva Biosciences, InnAccel, NIRAMAI, and UE LifeSciences.

Attracting over 70 companies from 35 countries, the Global Women’s HealthTech Awards included the submission of innovative products and services under three categories: reproductive health and pregnancy, general women’s and adolescent health, and women safety and security.

“These startups are using technology to help women in developing countries live longer and healthier lives,” said Makhtar Diop, IFC’s managing director. “They’re at the cutting edge of a growing market focused on women’s health that has the potential to reach almost $10 billion by 2024.”

Karen Chupka, EVP, CES, Consumer Technology Association (CTA), announced the winning startups during the opening session of CES2022, one of the most influential tech events in the world. 

“The winners announced today are providing innovative solutions that are making a difference in solving some of the most pressing challenges in healthcare and will help improve the health and well-being of women in developing countries,” said Karen Chupka.

New technology can play a key role in addressing some of the most pressing health challenges for women, including access to maternal care, reproductive care, and high-quality diagnostic tests and screening. Tech innovations can be particularly impactful in emerging markets, where women often face a lack of adequate resources and tailored solutions. 

For instance, according to the World Health Organisation (WHO), 94 percent of all maternal deaths occur in low and lower-middle-income countries, mostly due to poor access to quality health services, while limited access to diagnostic centres and tools for early detection results in lower survival rates for breast cancer.

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