World Bank to Double Africa Guarantees to $6.4bn, Aiming to Reach 190 Million by 2030

The World Bank Group plans to raise its annual guarantee issuance in Africa to $6.4bn by 2030. This move aims to improve the lives of at least 190 million people over four years. Hosted by MIGA, the Guarantee Platform brings together risk insurance products from across the World Bank Group. Investors can now access a single, streamlined service that reduces complexity and aligns approval steps. The initiative is set to mobilise about $23bn in private capital for sectors like agribusiness, energy, infrastructure, healthcare and digital services. It could connect 43 million people to electricity, expand financial inclusion for 50 million Nigerians and boost access to broadband and sustainable transport. According to a World Bank statement, these guarantees will play a critical role in attracting private investment and creating jobs as Africa’s working-age population grows.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.