FINANCE Minister Dr Mwigulu Nchemba has urged African countries to collaborate with international financial institutions and the private sector in investing in reliable and affordable energy production.

The initiative aims to achieve economic self-sufficiency, stimulate investment, produce goods and services, and promote job creation.

Dr Nchemba made the remarks in Washington D.C. during a discussion focused on enhancing energy security in Africa, organised by the Mission 300 initiative alongside the Annual meetings of the International Monetary Fund (IMF) and the World Bank.

He emphasised that engaging various stakeholders in energy production, particularly the private sector, is essential for spurring development in Africa by generating sufficient electricity and facilitating electricity trade.

Highlighting Tanzania's efforts, Dr Nchemba noted that in partnership with a World Bank project valued at $300 million the country has successfully connected 11,837 villages to electricity, fostering rural development.

He also mentioned that ongoing energy production projects align with the promotion of clean cooking energy through comprehensive policies, strategies and regulations aimed at encouraging adoption of clean cooking solutions.

Dr Nchemba invited development partners and finance ministers from African countries to encourage their heads of state to participate in the upcoming Energy Summit in Dar es Salaam, scheduled for late January 2025.

Dr Kevin Kariuki, Vice President of the African Development Bank (AfDB) responsible for energy issues, stated that the Mission 300 initiative is dedicated to ensuring that energy remains a priority in the planning and policies of African nations due to its critical role in economic growth, security, and human development.

He elaborated that the Energy Summit will involve leaders from Southern African countries and will set strategies and financial frameworks for implementing energy production projects.

It is estimated that over 300 million people are expected to gain access to electricity in Southern African countries by 2030 as part of a collaborative effort involving stakeholders, including international financial institutions and the private sector, to achieve the ambitious goal.