World Bank Africa investment plan seeks to mobilise $23bn in private capital for energy, jobs and infrastructure across the continent

The World Bank Group has unveiled a major financial initiative aimed at mobilising about $23bn in private capital for Africa through an aggressive expansion of its risk guarantee instruments over the next four years.

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In a statement issued on Wednesday, the Bretton Woods institution said the ambitious programme would be driven by its newly consolidated Guarantee Platform, which is expected to more than double annual guarantee issuance across the continent to $6.4bn by 2030.

The World Bank Africa investment initiative is projected to improve the lives of about 190 million Africans within the next four years by unlocking funding for critical sectors of the economy.

According to the institution, the intervention comes at a pivotal moment as Africa’s working-age population is forecast to expand by 740 million people over the next three decades, with approximately 12 million young people entering the labour market every year.

“Guarantees will play a critical role in attracting private capital into job-rich sectors including agribusiness, energy, infrastructure, healthcare, digital services, finance and trade,” the statement said.

The bank explained that the initiative is intended to support Africa’s long-term ambition of transforming its economy into a global growth engine through stronger private-sector participation.

Key continental programmes expected to benefit from the framework include AgriConnect, which focuses on smallholder agriculture and food security, and Mission 300, a joint electricity access programme with the African Development Bank aimed at connecting 300 million Africans to electricity by 2030.

The World Bank stated that the guarantees could provide electricity access for 43 million people while improving financial inclusion for 50 million individuals and businesses, particularly women-owned enterprises.

“This initiative seeks to connect 300 million people in Africa to electricity by 2030, while creating more jobs,” the institution added.

Beyond power and finance, the programme is also expected to connect 37 million people to broadband internet, extend digitally enabled services to 51 million people and provide sustainable transport infrastructure benefiting another three million people.

Reacting to the development, Managing Director of the Multilateral Investment Guarantee Agency, Tsutomu Yamamoto, described Africa’s rapidly growing youth population as a major economic opportunity if supported by adequate investment flows.

“Africa remains home to the world’s youngest and fastest-growing workforce, and guarantees will play a critical role in attracting the investment to create the jobs needed to secure their future,” Yamamoto said.

He added that the institution remained committed to helping emerging economies reduce systemic investment risks through structured commercial de-risking mechanisms.

“We are delighted to announce these ambitious new commitments, which will ultimately help to build robust and stable economies that yield quality jobs in everything from agribusiness and healthcare to energy and infrastructure,” he stated.

The World Bank Group Guarantee Platform was launched in 2024 as a centralised platform combining expertise from the World Bank, the International Finance Corporation and MIGA.

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Officials said the structure was designed to simplify guarantee processes, eliminate duplication and provide commercial lenders with a more predictable framework for financing strategic projects across developing economies.