For this year\’s End Poverty Day, I want to highlight one of the most pressing issues we must address to truly reduce poverty: the need for accelerated electrification across Africa. Electricity access is more than flipping a switch, it is the foundation for sustainable development, powering the lives of millions and unlocking their potential.
No country has ever developed in the dark. Electricity transforms economies, energizes businesses and opens doors to education and healthcare. It lights up homes, powers hospitals and schools and connects people to new opportunities. But in Sub-Saharan Africa, nearly 600 million people are still living without access to electricity. We cannot allow this gap to widen. Now is the time for an energy breakthrough.
The World Bank Group and partners have embarked on a mission to connect 300 million people to grid and off-grid electricity by 2030. I believe we have the expertise, resources and innovation to make this vision a reality. Since the missions launch in April 2024, we have seen a groundswell of support from governments, businesses, development banks and philanthropies each eager to do their part.
The results we are already seeing are a testament to what is possible. Take the Democratic Republic of Congo, a nation with incredible potential but where only 20% of the population has access o electricity. Through the IDA-financed Electricity Access & Services Expansion Project (EASE) we have helped bring electricity to more than 3 million people.
Launched in 2018, the EASE project has been a lifeline for communities in Kinshasa, Nord Ubangi, the Grand Kasaï and Kivu regions. It has connected 827 businesses and small and medium enterprises, supported reforms and strengthened private sector involvement in energy provision. This is just the beginning. With continued momentum, we are on track to meet our goal of connecting 300 million people to electricity by 2030.
I invite you to hear directly from the Congolese families and entrepreneurs whose lives have been transformed by energy access. Their stories are a powerful reminder of what is at stake – and what we stand to gain. Electricity is not just a service; it is a catalyst for long-lasting poverty reduction across Africa.
Let’s work together to achieve an energy breakthrough and ensure that no one is left behind in the dark. The future is bright, and together we can make it even brighter.
Source: https://blogs.worldbank.org/
Governments around the world have tightened restrictions on trade and investment based on economic-security justifications.…
In recent years, several high-profile episodes have renewed concerns about central bank independence in practice,…
Achieving sustainable development goals needs blended finance, where public money is used to crowd in…
When geopolitical crises strike, oil prices often surge, with consequences that extend far beyond energy…
A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely…
It is often claimed that executives reap rewards from favourable market tailwinds they did nothing…