Efforts to expand electricity access across Africa received a boost following the announcement of a $40 million convertible loan mandate aimed at scaling pay-as-you-go solar home systems in underserved markets.
The initiative, highlighted by Dahlia Khalifa, forms part of broader development financing efforts led by the International Finance Corporation to close Africa’s energy access gap and support inclusive economic growth.
The financing agreement, signed between IFC and EDF power solutions, is expected to accelerate the deployment of off-grid solar home systems across the continent. The model focuses on pay-as-you-go energy solutions designed to improve affordability for households and small businesses lacking reliable electricity access.
According to IFC, the partnership goes beyond traditional financing by targeting the expansion of decentralized energy markets, strengthening last-mile energy distribution, and enabling small and medium-sized enterprises (SMEs) to access more reliable power for productivity and job creation.
The announcement comes amid growing regional energy demand and ongoing efforts to scale investment in clean energy infrastructure. Khalifa emphasized that expanding reliable electricity access remains critical to unlocking jobs, improving productivity, and increasing economic resilience across African communities.
The initiative also aligns with the broader objectives of Mission 300, a flagship program led by the World Bank Group and partners aimed at significantly expanding electricity access across the continent by 2030.
Development partners involved in the programme say that mobilizing private capital and scaling innovative energy solutions will be central to achieving universal energy access goals while supporting sustainable economic transformation in Africa.