World Bank Group Targets $23bn Private Capital Push to Power Africa’s Jobs and Infrastructure Growth

The World Bank Group has announced an ambitious plan to mobilise around $23 billion in private capital for Africa, in a major push aimed at accelerating development, job creation, and infrastructure expansion across the continent. The initiative will roll out over the next four years and is designed to unlock large-scale private investment into critical sectors.

At the heart of the strategy is a newly consolidated Guarantee Platform, which will significantly expand the use of financial risk guarantees to attract investors. The World Bank projects that annual guarantee issuance in Africa could more than double to $6.4 billion by 2030, helping reduce investment risks that often discourage private capital from flowing into emerging markets.

The institution estimates that the programme could positively impact around 190 million people, especially as Africa’s working-age population continues to surge. With up to 12 million young people entering the labour market every year, the initiative is positioned as a response to both rising economic pressure and untapped demographic potential across the region.

Key development programmes under the plan include AgriConnect, which focuses on strengthening smallholder farming and food security, and Mission 300, a joint effort with the African Development Bank aimed at delivering electricity access to 300 million Africans by 2030. Additional targets include expanding broadband access, improving financial inclusion, and boosting transport infrastructure.

Reacting to the initiative, the Multilateral Investment Guarantee Agency highlighted the importance of de-risking investments to attract private sector participation. The platform—developed alongside the International Finance Corporation—centralises guarantee services into a single system to simplify approvals and encourage faster funding for development projects across Africa.

 source: Punch