Yemisi Izuora
The World Bank Group’s guarantee platform, operated by the Multilateral Investment Guarantee Agency (MIGA), is broadening its intervention with hope to double its annual guarantee volume in Africa, targeting $6.4 billion by 2030.
According to a press release published in May, the investments backed by these commitments are expected to directly improve living conditions for around 190 million people across the continent, including 43 million through improved access to electricity.
The institution estimates that guarantees issued over the next four years could mobilize an additional $23 billion in private capital across the continent. The funding is expected to support several sectors, including energy, infrastructure, agriculture, digital technologies, and finance, as well as the Mission 300 initiative, which aims to provide electricity access to 300 million Africans by 2030.
“Africa is 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,” said Tsutomu Yamamoto, MIGA’s chief executive officer.
Mobilizing private capital has become a central challenge in accelerating electrification across Africa, where approximately 600 million people lack access to electricity, according to the International Energy Agency (IEA). The World Bank, a leading institution in energy infrastructure financing and development, plans to rely more heavily on its guarantees to attract investors to African projects.
In its report Financing Electricity Access in Africa, published on Oct. 20, 2025, the IEA highlighted that guarantee mechanisms play a key role in improving the financial viability of energy projects. By covering certain political, credit, and currency risks, they help reassure investors and attract additional private capital to markets that are often perceived as high-risk.
MIGA already uses this mechanism to support renewable energy projects on the continent. In April 2026, it signed a framework agreement with UAE-based developer AMEA Power to support up to 23 renewable energy and storage projects across Africa, the Middle East, and Central Asia. The first phase includes projects in Côte d’Ivoire, Djibouti, Egypt, South Africa, Togo, and Uganda.