New York, Sept. 25, 2025 (Lusa) - Mozambique and Sao Tome and Principe, along with 15 other African countries, have joined the National Energy Compacts under Mission 300, which aims to provide electricity to 300 million Africans by 2030.

"At the Bloomberg Global Philanthropy Forum, the National Energy Compacts, practical plans that guide public spending, trigger reforms and attract private capital, were approved by Benin, Botswana, Burundi, Cameroon, Comoros, the Republic of Congo, Ethiopia, Gambia, Ghana, Guinea-Conakry, Kenya, Lesotho, Mozambique, Namibia, São Tomé and Príncipe, Sierra Leone and Togo," reads the statement from the two entities.

"Electricity is the foundation of jobs, opportunities and economic growth," said World Bank Group President Ajay Banga, quoted in the document, adding that Mission 300, the initiative that aims to connect 300 million Africans to electricity by 2030, "is promoting lasting reforms that reduce costs, strengthen public services and attract private investment."

"Reliable and affordable energy is the fastest multiplier for small and medium-sized enterprises, agricultural processing, digital work and industrial value added," said African Development Bank Group President Sidi Ould Tah, explaining that giving energy to an African entrepreneur is equivalent to guaranteeing them a salary.

For Mozambique's President Daniel Chapo, the country "is on the right track to achieve the Mission 300 goals and consolidate [its] role as a regional power by exporting [its] abundant, affordable and clean energy."

Also quoted in the statement, the prime minister of São Tomé and Príncipe, Américo Ramos, said that "the Compact offers an innovative framework to drive a sustainable and inclusive model of economic growth for the people of São Tomé" and added: "We are implementing solid reforms and developing innovative business models to raise US$190 million (€161 million) from the private sector to finance this goal".

Since the launch of Mission 300 at the beginning of last year, around 30 million people have been connected to electricity, with more than 100 million people covered by the planning phase.

Mission 300 is a project of the African Development Bank Group and the World Bank and is based on national compacts, which are a set of measures developed and approved by governments with technical support from development partners, adapted to the context of each country and based on reforms in the areas of infrastructure, financing and policies.

Earlier this year, during the African Energy Summit, the Energy Compacts had already been approved by Chad, Côte d'Ivoire, the Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania and Zambia, which have committed to taking more than 400 policy measures to strengthen public services, reduce risk for investors and eliminate bottlenecks in the economy, according to the statement from the two banks.

MBA/AYLS // AYLS

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