São Tomé and Príncipe’s National Energy Compact under Mission 300 presented at the Africa Energy Indaba
Mission 300 (M300), an initiative by the World Bank and the African Development Bank (AfDB) aimed at bringing electricity to 300 million people in Africa by 2030, has made significant progress in recent weeks, with the announcement of new funding and the presentation of new regional energy compacts.
During the Africa Energy Indaba, held from 3 to 5 March in Cape Town, São Tomé and Príncipe officially presented its National Energy Compact at an event bringing together policy-makers, investors and international partners. The São Tomean delegation also took part in technical meetings with the World Bank and the African Development Bank to discuss ongoing projects and new opportunities for cooperation under the M300 initiative.
Portuguese-speaking countries continue to make progress on this agenda: Mozambique and São Tomé and Príncipe have already finalised their compacts, whilst Angola, Guinea-Bissau and Cape Verde are now entering the third phase (Cohort 3) and beginning the preparation of their national compacts. ALER, which has been supporting this process, recently highlighted the importance of M300 and the role of national compacts in policy alignment and the mobilisation of bankable projects in its article published in Africa Market Outlook 2026.
Internationally, the initiative has received significant new financial commitments, including over $100 million announced by the Rockefeller Foundation and the Global Energy Alliance for People and Planet, and over €1 billion mobilised by the European Investment Bank to support renewable energy projects in Sub-Saharan Africa. These announcements reinforce the current momentum of Mission 300 and the growing international attention on the countries that are moving forward with their compacts.