We've pledged USD5 billion to Power Africa - a US backed initiative, aiming to support economic growth by improving access to reliable, affordable and sustainable power in Africa.
What's the problem?
Two out of three sub-Sarahan Africans - 600 million people - lack access to electricity.
They're forced to compensate by using costly and unhealthy forms of energy, like diesel to run factory generators, and smoky and scarce wood for indoor fires for cooking.
Changing Africa's prospects
Because of poor power-infrastructure, growth in Africa has been reduced by around 0.11 per cent of GDP.
In Nigeria in particular, current power output levels are only around 4,000 megawatts, but the country’s demand is for 10,000. If Nigeria could close this gap, it would raise economic growth by 3 percent - that's over USD15 billion annually.
How we're helping
Here are some highlights on how our commitment has helped bring power to Africa:
Our financing of the Azura-Edo Independent Power Project in Nigeria will help generate 450 megawatts of power.
Environmental and social risk
We manage the environmental, social & governance risks that come with our financing decisions.
Banking on Africa
View our video and interactive summary on our social and economic impact in Africa.
We contribute much more than profits. Through our business, we can be a force for good.