Finance Minister Departs for Africa Energy Summit

Monrovia, Liberia - The Minister of Finance and Development Planning Augustine Kpehe Ngafuan will depart the country this weekend to attend the World Bank Group and the African Development Bank Group Africa Energy Summit in Dar es Salaam, Tanzania. The summit runs from January 27-28.

 

Minister Ngafuan will be accompanied at the Energy Summit by the Deputy Minister for Economic Management Hon. Dephue Zuo as part of President Joseph Nyuma Boakai’s delegation to the summit.

 

The Liberian finance minister is expected to also make a special statement on the current state of the country’s energy sector.

 

The two-day gathering will also highlight energy sector successes in selected countries, establish an alliance of sector stakeholders to accelerate energy infrastructure investments, and strengthen regional power planning, markets trade, and policy frameworks to support the implementation of the Continental Master Plan and the African Single Electricity Market.

 

It will bring together African heads of state, international partners, philanthropists, and private sector leaders to advance Mission 300 -- a groundbreaking initiative to scale energy access to 300 million Africans and accelerate the continent’s clean energy transition.

 

Mission 300’s strategy encompasses both traditional grid expansion and innovative off-grid solutions to reach remote communities.

 

 The program will prioritize sustainable financing models and address critical challenges such as currency mismatches in project funding.

 

The World Bank Group and the African Development Bank launched the initiative in April 2024 in an unprecedented collaboration, alongside other global partners, to bridge the persistent energy access gap in Africa, leveraging innovative technology and innovative financing.

 

Nearly 600 million Africans, representing a staggering 83 percent of the world’s energy have-nots -- lack access to electricity.