The African Development Bank Group (AfDB) has announced a series of joint initiatives with Germany aimed at accelerating energy access and fostering private sector growth across Africa.
The partnership, unveiled during a high-level meeting in Abidjan, Côte d’ Voire last week, includes increased support for the Mission 300 initiative, which seeks to provide electricity to 300 million Africans by 2030, as well as improved financing for private sector development in the energy sector.
Germany, the largest contributor to the 16th replenishment of the African Development Fund and a key AfDB shareholder, reaffirmed its role as a strategic development partner.
Over 90 senior officials from the AfDB, the German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kreditanstalt für Wiederaufbau (KfW) participated in the discussions.
According to the Senior Vice President of the AfDB, Mrs. Marie-Laure Akin-Olugbade, “The African Development Bank values this strong demonstration of commitment to building strategic partnerships and thanks Germany for its steadfast support to the Bank Group. By working together, we continue to lay the groundwork for a brighter, more inclusive future for Africa.”
Partnership to boost renewable energy
The partnership will see Germany expand its financing for renewable energy projects in Africa, building on existing initiatives such as the Sustainable Energy Fund for Africa and the Climate Action Window.
This is expected to strengthen energy access programs across African countries, particularly through the implementation of National Energy Compacts.
Beyond energy access, the partnership aims to boost Africa’s private sector, with an emphasis on youth entrepreneurship and skills development.
Increased support for Youth Entrepreneurship Investment Banks and enhanced cooperation on the Build 4 Skills program are among the key measures discussed.
The BMZ Director General for Africa, Birgit Picket said, “This deep dive came at the right moment as the development sphere is going through significant times of upheaval.
“To foster development on the continent, we need to move at scale. For this, we need development partners to join the ranks, and I am very proud that the African Development Bank and Germany strive to deepen their excellent cooperation.”
A report by AfDB noted that the major highlight of the meeting was the signing of significant subscription agreements under the Alliance for Green Infrastructure in Africa (AGIA).
This marks a critical step toward the first close of the AGIA Project Development Fund, with contributions from the AfDB, Africa50, the West Africa Development Bank, and KfW.
AfDB said the agreement will accelerate green infrastructure development across the continent.
