Elizabeth Antidius Shumbusho | Africa Guardian
The OPEC Fund for International Development (the OPEC Fund) has announced its commitment to the “Mission 300” initiative, with an initial pledge of US$1 billion and the potential to contribute an additional US$1 billion after evaluating progress and demand in 2027. Mission 300, launched by the World Bank Group (WBG) and the African Development Bank (AfDB) in partnership with other stakeholders, aims to provide electricity to 300 million people in sub-Saharan Africa by 2030.
This pledge was made during the African Heads of State Energy Summit in Dar es Salaam, Tanzania, where President Abdulhamid Alkhalifa remarked, “Mission 300 has the potential to be a real game-changer for millions of people in Africa. Access to electricity will help enhance livelihoods, empower people to establish businesses, and spur economic growth. The OPEC Fund has long prioritized Sustainable Development Goal 7 – Access to Affordable and Clean Energy, and this pledge further reinforces that commitment.”
The OPEC Fund’s involvement is also shaped by its strong focus on environmentally sustainable energy solutions. Guided by its Climate Action Plan, the institution has increased its energy sector initiatives, particularly in Africa, where approximately 600 million people still lack access to electricity. Some of the key projects it has recently supported include the Niger Solar Plant Development and the Suez Wind Power Plant in Egypt. Additionally, the OPEC Fund has led clean cooking initiatives, such as a US$35 million loan to the Republic of Madagascar in September 2024.
Since its inception in 1976, the OPEC Fund has invested around US$15 billion in public and private sector projects across Africa, with a focus on leveraging the continent’s abundant natural resources and its youthful, skilled workforce. The institution’s ongoing efforts aim to empower Africa’s potential and support its economic growth.
Mission 300 seeks to expand and modernize the continent’s energy infrastructure by increasing grid connectivity, deploying mini-grids, and offering standalone solar solutions to off-grid communities. The initiative also strives to reform policies and attract private investment to further drive the sector’s transformation.
The African Heads of State Energy Summit (held on January 27-28) underscored the pressing need for reliable, affordable, and sustainable energy across Africa. Representing President Alkhalifa at the summit, Mahmoud Khene, OPEC Fund Regional Director for West & Central Africa, reiterated the urgency of addressing Africa’s energy challenges through collaborative action.
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