NAIROBI, Kenya — Chief executives from Africa’s leading minigrid companies on Monday issued a 17-step action plan calling for urgent regulatory and financial mobilization to meet the continent’s electrification targets.
The plan, released alongside a Mission 300 industry position paper, outlines a framework for governments and funders to connect 300 million people to electricity by 2030. The initiative is led by the World Bank and the African Development Bank.
New analysis of energy compacts signed by 29 African governments shows a high demand for minigrids. These governments expect the industry to serve more than 115 million people, or 23 million connections, by the end of the decade.
Industry leaders warned that meeting these goals requires a massive shift in how capital is deployed. Achieving the Mission 300 targets will require between $28 billion and $46 billion in total capital, including more than $10 billion in equity by 2028.
Call for Financial Transparency
The industry group urged Mission 300 funders to publish a clear, time-bound capital plan. The CEOs said it is essential to know how much concessional capital will be available and how it will mobilize private equity.
Olamide Niyi-Afuye, CEO of the Africa Minigrid Developers Association, said the sector is ready to scale but needs institutional systems to move at the same speed as the ambition.
“The message is clear: the sector is ready,” Niyi-Afuye said. “What is now needed is capital mobilization with a clear, time-bound plan.”
The CEOs emphasized that minigrid companies need access to both corporate equity and local currency debt. Camille Andre-Bataille, CEO and co-founder of ANKA, said the mission is not constrained by technology but by how capital is structured.
“Project-level financing remains essential to build minigrid infrastructure, but scaling delivery at the pace M300 requires will depend on increased corporate equity,” Andre-Bataille said. “No strong companies means no successful projects.”
Regulatory Hurdles
The action plan calls on governments to enable cost-reflective tariffs and remove import duties and taxes that currently add more than 7% to equipment costs.
Industry leaders also argued that success should be measured by economic impact rather than just household connections. They recommended including small and medium enterprises and social institutions in key performance indicators to ensure more sustainable systems.
Manoj Sinha, CEO and founder of Husk Power, said governments have spoken on the need for minigrids to power economic growth beyond households.
“It is well known that high income, low energy countries do not exist,” Sinha said. “Now a step change in action is needed.”
Industry Readiness
The companies endorsing the plan currently operate 392 active minigrid sites and have invested more than $300 million. They hold a development pipeline exceeding 1 gigawatt, which represents a potential capital requirement of $8.2 billion.
Olu Ajala, CEO of Ashipa Electric, said the mission has moved beyond a question of ambition to a test of execution.
“What will determine success now is whether capital, regulation, and institutional processes move fast enough to match that demand,” Ajala said.
Kenneth Gitonga, market development facility manager at Camco, said the 17-step plan provides the clarity needed to turn early ambition into bankable projects. Gitonga noted that his firm is ready to deploy catalytic capital to support developers.
According to the World Bank, more than 600 million people in Africa lack access to electricity. With four years remaining until the 2030 deadline, the position paper concludes that incremental approaches will no longer be sufficient to close the energy gap.
