World Bank, AfDB and Rockefeller Foundation Launch Mission 300 Private Sector Council To Help Bring Electricity To 300 Million Africans By 2030

The World Bank Group, the African Development Bank, and The Rockefeller Foundation have jointly launched the Mission 300 Private Sector Council, a new initiative aimed at mobilizing the large-scale private investment required to connect 300 million Africans to electricity by 2030. The council will also focus on unlocking job creation and wider economic opportunities across the continent as part of the broader Mission 300 agenda.

The newly formed council brings together fourteen senior leaders from a range of industries. Their role will be to drive strategies that attract capital, support deal-making, and expand catalytic finance platforms—particularly those enabling local currency financing—to accelerate commercial investment in energy access. Makhtar Diop, Managing Director of the International Finance Corporation (IFC), and Ray Chambers, Chair of the MCJ Foundation, will serve as Co-Chairs of the council.

Makhtar Diop emphasized the importance of private sector expertise in advancing Mission 300. He said the initiative’s success depends on mobilizing investment at scale and implementing strategies shaped by companies with deep experience in Africa’s energy landscape. The council, he added, brings together the networks and capabilities required to turn ambition into tangible results.

Mission 300 is a collaborative effort led by the World Bank and the African Development Bank, with support from The Rockefeller Foundation, the Global Energy Alliance for People and Planet, and Sustainable Energy for All. The initiative aims to provide electricity to 300 million Africans by 2030 while driving employment through expanded energy access. With nearly 600 million people on the continent still lacking electricity, the challenge requires unprecedented speed, scale, and financial commitment. Under Mission 300, IFC and the Multilateral Investment Guarantee Agency (MIGA) have pledged $5 billion to support private sector investment by 2030.

Progress is already underway. Since Mission 300 was launched in 2024, the initiative has connected 44 million people to electricity. Thirty African countries have signed energy compacts and are currently expanding infrastructure, integrating regional power systems, increasing renewable energy adoption, and improving conditions for private investment.

Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank Group, said the establishment of the Private Sector Council is a crucial milestone. He noted that nearly half of all energy compact investments will rely on private sector participation. Bringing leading private sector figures into the Mission 300 framework, he said, will strengthen the connection between policy reforms, innovative finance, and viable projects—ultimately accelerating progress, supporting local industries, and generating jobs across Africa.

The council’s secretariat will be hosted by RF Catalytic Capital, The Rockefeller Foundation’s public charity, with quarterly meetings planned. Andrew Herscowitz, CEO of the Mission 300 Accelerator, highlighted the central role of off-grid solutions in reaching the mission’s goals. He stated that half of all electricity connections under Mission 300 are expected to come from off-grid systems, making private investment essential for scaling such technologies and delivering meaningful impact.

The Mission 300 Private Sector Council includes representatives from a diverse group of companies and organizations: Airtel Africa PLC, Delta40, DLO Energy Resources Group, Elsewedy Electric, EQT Corporation, GOGLA, Meridiam, Sahara Power Group, Scatec, Husk Power Systems, Total Energies, the MCJ Amelior Foundation, Standard Bank, and Zhero. Together, these partners will work to accelerate investment flows, expand energy access, and support economic transformation across the African continent.