Charles Muchoki | Africa Guardian AfDB and World Bank Forge Unprecedented Alliance for Africa’s Energy TransformationIn a landmark collaboration, the African Development Bank (AfDB) and the World Bank, alongside global partners, have launched Mission 300—a bold initiative to connect 300 million Africans to electricity by 2030. Speaking at the Africa Energy Summit in Dar es Salaam, Tanzania, experts emphasized…
Elizabeth Antidius Shumbusho | Africa Guardian The OPEC Fund for International Development (the OPEC Fund) has announced its commitment to the “Mission 300” initiative, with an initial pledge of US$1 billion and the potential to contribute an additional US$1 billion after evaluating progress and demand in 2027. Mission 300, launched by the World Bank Group (WBG) and the African…
Our Correspondent | Africa Guardian On Monday, several African nations pledged to open their electricity sectors to investment, with the goal of providing power to 300 million people currently without access over the next six years. Africa has the highest number of people without electricity globally, and the continent is urgently working toward connecting homes by 2030 through the…
Charles Muchoki | Africa Guardian Tanzania is hosting the Africa Heads of State Energy Summit in Dar es Salaam, marking a critical step toward addressing the continent’s pressing energy challenges. Speaking at the summit’s opening on Monday, Deputy Prime Minister and Minister for Energy, Dr. Doto Mashaka Biteko, emphasized the importance of the Mission 300 initiative, which aims to…
Edson Baraukwa | Africa Guardian India’s High Commission in Tanzania has launched a new initiative, ‘Karibu Tanzania Youth,’ to foster cultural and bilateral ties. The inaugural session in Dar es Salaam brought together 30 students from Academic International Secondary School. High Commissioner Bishwadip Dey emphasized the critical role of youth in shaping future relationships between the two nations, highlighting…
Our Correspondent | Africa Guardian World Bank and AfDB Unveil $40bn Power Financing Plan for Africa The World Bank and African Development Bank (AfDB) have announced a $40 billion financing initiative under the Mission 300 program, designed to expand electricity access to 300 million Africans by 2030. Bridging Africa’s Energy Gap As of 2019, electricity access in sub-Saharan Africa…
Edson Baraukwa | Africa Guardian The urgent need to transform education financing in Africa took center stage at a continental education conference in Nouakchott, Mauritania. Over the weekend, African ministers and international experts convened to address the critical challenge of ensuring sustainable funding for quality education, particularly for the continent’s rapidly expanding youth population. In focused sessions on education…
Our Correspondent | Africa Guardian Tanzania has called on African nations to collaborate in finding long-lasting solutions to the continent’s challenges. The country also urged Japanese businesses and investors to deepen their engagement in Africa, contributing to human development and promoting regional and global peace and stability. This call was made by the Deputy Minister for Foreign Affairs and…
The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every…
The World Bank has blamed the re-emergence of parallel currency exchange market in Nigeria on resistance toward the increasing pressure on the naira and the limited supply of forex at the official window. The Bank, in a report released on Wednesday in Washington DC, said the premium between the parallel exchange rate and the official rate widened from March…
Giving his views on the matter, a member of the Lawyers’ Environmental Action Team (Leat), Mr Clay Mwaifani, advised the Government to start a process of reconciliation with all those whose investments were affected during the Magufuli regime. Dar es Salaam. One day after the government said it would appeal a recent by the International Centre for Settlement of…
The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. Ajay Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard launched the Center for…
Summary Banga, the first World Bank president from South Asia, takes over on June 2 from outgoing president David Malpass, who is stepping down early from a presidency clouded by questions over his climate stance. Washington. Ajay Banga, confirmed Wednesday as the World Bank’s next president, is an Indian-born American executive who has been hailed by media in his…