Global Citizen in new partnership to address Africa's energy poverty

To undo Africa’s energy poverty that keeps many from living fulfilling lives, Global Citizen has partnered with the World Bank’s International Development Association, Bridgewater Associates and Harith General Partners to host a summit in Ivory Coast in October.

Speaking at the Africa Heads of State Summit in Nairobi, Kenya, on Monday, several leaders said the October 9-10 summit in Abidjan will not only be attended by heads of state and finance ministers but also members of the private sector interested in Africa’s development.

Global Citizen said IDA provides governments around the world with zero-to-low interest loans and grants that help countries invest in their futures, improve lives and create safer, more prosperous communities across 75 countries.

“Africa is expected to have the largest workforce within the next decade, and by 2075, one-third of the world’s population will be African. Yet today, there are challenges in accessing key resources that are essential to economic growth that the IDA replenishment can help secure,” said Nir Bar Dea, CEO of Bridgewater Associates.

“We are building on Bridgewater’s mission to understand the world and turn our insights and research into results by providing a deeper understanding of how IDA21 will shift the economic trajectory of African nations and global markets and economies.”

For Tshepo Mahloele, founder and chair of Harith General Practitioners, Africa’s time for development is now.

“For the continent and its youth to achieve their potential, barriers need to be overcome and addressed in energy poverty, infrastructure, health and human capital development,” said Mahloele.

“Where, through collective global effort and leadership, we have fashioned instruments for sustainable human development and poverty-reduction that have proven to be as potent as the IDA has, over the years, we owe it to ourselves as the global community, to do all we can to maintain, and importantly enhance that potency.”

Mahloele and Dea note that the World Bank “must secure more than $100bn (R1.86-trillion) in financing for its IDA21 replenishment to be able to advance these goals.”

“With about 60% of the population aged less than 25 years old, youth employment is a critical challenge and a key objective of the government. In this regard, creating an enabling environment for the private sector to grow faster, notably through economic and social infrastructure and reforms, is the key to creating enough jobs for and by youth,” said Ivory Coast Prime Minister Robert Beugré Mambé.

“IDA is our main source of low interest loans and grants, which are essential to make those reforms and strengthen infrastructures, to boost economic and social development of our countries. In particular, the global context of external shocks, including the challenges from climate change and geopolitical crises, reinforces the need for IDA funding to better support our countries, our continent, and the bright future of the world.

“In the next 10 years, 1.1-billion young people across the Global South will become working age adults. Yet, in the same period and same countries, we are only expected to create 325 million jobs. We will need all shoulders to the wheel to deliver the scale of employment opportunities that will be required to support this energetic generation.

“The International Development Association can be a crucial element of each country’s development strategy, but we need more than just IDA. Fortunately, an army of friends and partners from the private and advocacy sectors have formed a unique coalition that is supporting IDA’s replenishment and efforts on the ground.”

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