Germany, AfDB Partner to Enhance Energy Access, Boost Private Sector in Africa

The African Development Bank (AfDB) has formed a partnership with Germany aimed at enhancing energy access and supporting private sector development across Africa, particularly through the Mission 300 initiative, which seeks to provide electricity to 300 million people by 2030. This collaboration, announced during a high-level meeting in Abidjan, will also focus on promoting youth entrepreneurship and skills development by increasing funding for Youth Entrepreneurship Investment Banks and enhancing programs like 'Build 4 Skills.' Concurrently, the Global Energy Alliance for People and Planet (GEAPP) and Agence Française de Développement (AFD Group) have launched a new initiative to mobilize funds and technical assistance for local financial institutions to support clean energy access, aligning their efforts with the Mission 300 goals. With a combined approach, these partnerships aim to strengthen renewable energy financing and facilitate collaborative efforts among public, private, and philanthropic sectors to tackle Africa's energy challenges. This concerted effort reflects a growing commitment from various stakeholders to invest in sustainable solutions for energy access in the continent. The initiatives emphasize the importance of building local capacity and innovation in addressing energy needs.