The Empower Africa Business Platform is Now Live !!!
The World Bank Group has announced plans to expand its guarantee operations in Africa, targeting $6.4 billion in annual guarantees by 2030 as part of a broader effort to attract private investment, create jobs, and accelerate economic growth across the continent.
The initiative will be driven through the World Bank Group Guarantee Platform, which is housed under the Multilateral Investment Guarantee Agency (MIGA).
According to the institution, the expanded guarantee program could help improve the lives of nearly 190 million people in Africa within the next four years.
The announcement comes at a time when Africa is facing a major demographic shift.
The continent’s working-age population is expected to rise by 740 million people over the next 30 years, while nearly 12 million young people are projected to join the labor market every year.
The World Bank says mobilizing private investment into key sectors will be essential to creating enough jobs for the growing population.
The guarantees are expected to support investments in industries with strong employment potential, including agriculture, energy, transport infrastructure, healthcare, finance, trade, and digital services.
Tsutomu Yamamoto, Managing Director of MIGA, said the continent’s youthful population presents both an opportunity and an urgent challenge.
“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,” Yamamoto said.
He added that the new commitments are intended to support stronger and more resilient economies across Africa.
“We are delighted to announce these ambitious new commitments, which will ultimately help to build robust and stable economies that yield quality jobs in everything from agribusiness and health care to energy and infrastructure,” he said.
The World Bank Group estimates that the guarantees issued over the next four years could help mobilize around $23 billion in private sector investment for projects across Africa.
Part of the financing will support AgriConnect, a World Bank-backed initiative focused on improving smallholder farming, increasing agricultural productivity, and strengthening food systems.
Agriculture remains one of Africa’s largest employers, making the sector central to job creation and food security efforts.
Another major program expected to benefit is Mission 300, a joint initiative led by the World Bank Group and the African Development Bank that aims to connect 300 million Africans to electricity by 2030.
The project is also supported by The Rockefeller Foundation, the Global Energy Alliance for People and Planet, and Sustainable Energy for All.
According to the World Bank Group, the expanded guarantees could help provide electricity access to 43 million people by the end of the decade.
The institution also projects that around 50 million people and businesses — especially women-owned enterprises — could gain improved access to financial services.
The program is additionally expected to strengthen food and nutrition security for five million people, expand digitally enabled services to roughly 51 million people, and connect another 37 million people to broadband internet. Improved transport infrastructure and services could also benefit around three million people.
The World Bank Group Guarantee Platform was launched in 2024 to bring together guarantee products and specialists from the World Bank, the International Finance Corporation (IFC), and MIGA under one structure.
The platform was created to simplify access to guarantees, reduce duplication in approval processes, and lower investment risks in developing markets.
The institution says the broader global target is to increase annual guarantee issuance to $20 billion by 2030, with Africa expected to remain one of its priority regions for investment mobilization.
Heading for Change, a donor-advised fund committed to driving climate solutions with women as key agents of change, has announced plans to invest in two transformative climate-focused initiatives targeting emerging markets in Africa.
Women-focused investment fund, Wic Capital, has secured a $1 million loan from a prominent UK investor, FSDAi Nyala Facility.
Kenyan e-commerce and fintech platform Copia Global has made a strategic move, appointing seasoned tech leader John Lazar to its board of directors alongside securing $20 million in fresh funding.
