By Lyson Sibande
I have noted with huge concern, through my previous post, that there is a huge knowledge gap on what the $300million energy compact signed in Tanzania is all about. Some have no faith, they claim its just another BRIDGING FOUNDATION.
But it all started in April 2024, when it was established that 83% of people without electricity in the world are on the African continent. There are 600 million people that lack access to electricity, representing nearly half of the continent’s population. To address this energy crisis, the World Bank Group partnered with the African Development Bank to launch the “MISSION 300,” which is a program aimed at electrifying 300 million Africans by 2030. The initiative seeks to reduce Africa’s electricity deficit by half within six years.
Under this plan, the World Bank will finance the electrification of 250 million households, while the African Development Bank will fund 50 million. The entire project is estimated to cost approximately $90 billion. Malawi is one of the beneficiary countries, with its compact approved to receive $300 million, a deal signed by President Chakwera today.
Other African countries receiving funding through the program include Tanzania, Zambia, Niger, Senegal, Nigeria, Chad, Madagascar, the Democratic Republic of Congo (DRC), Mauritania, Liberia, and Côte d’Ivoire.
Siza Bridging foundation izi ayi.
