Speaking at the World Bank Group Meetings on April 17, 2024, Mr Banga emphasised that without electricity there can be no solution to poverty, growth, or development. Thus, it is portrayed as the foundation for creating jobs and capabilities in Africa.

He mentioned that 600 million people in Africa lack access to electricity, describing it as unacceptable.

Ajay Banga stressed the World Bank’s commitment to connecting 250 million Africans out of about 600 million Africans who currently do not have access to electricity to affordable energy by 2030, with the African Development Bank's (AfDB) President, Akinwumi Adesina, pledging the bank's commitment connect additional 50 million Africans to electricity.

 

He explained that this commitment involves collaborations with key stakeholders and institutions across the continent, including finance, government, and the private sector, to provide access to affordable energy to a significant portion of the population by 2030.