Rockefeller Foundation Commits $15.9 Million for Electricity in Africa.

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The Rockefeller Foundation has announced a significant commitment of $15.9 million to support the African Development Bank Group and World Bank Group’s goal of providing electricity access to 300 million Africans by 2030. 

This funding was announced during the Mission 300 Africa Energy Summit and builds upon an initial $10 million investment from the foundation and the Global Energy Alliance for People and Planet to the RF Catalytic Capital (RFCC) Mission 300 Accelerator.

The investment includes $10 million to Zafiri, the World Bank Group’s distributed renewable energy (DRE) investment company, which will provide patient equity to scale Africa’s private sector-led DRE sector. Additional investments include up to $2.5 million from RFCC to ODI Global Washington for a new fellowship program aimed at helping African governments meet their Mission 300 commitments, and $3.4 million to Sustainable Energy for All to monitor progress, implement programs, and develop new local currency financing tools.

Rajiv J. Shah, president of the Rockefeller Foundation, emphasized the importance of access to electricity, saying, “Access to electricity will determine the quality of Africa’s future and, because of its growing youth population, the world’s.”

He added, “By connecting 300 million Africans to electricity for the first time, Mission 300 will make all our futures more prosperous and secure. The Rockefeller Foundation is doing everything we can to accelerate Mission 300 because we know changing energy changes lives.

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