$40 Million Boost to Renewable Energy in Africa
In a landmark move to bridge Africa’s energy gap, the African Development Bank (AfDB) has approved a $40 million equity investment in Project Zafiri, a key initiative under Mission 300. This funding—supported in partnership with the Sustainable Energy Fund for Africa (SEFA)—is designed to supercharge the expansion of decentralized renewable energy (DRE) solutions across the continent.
Addressing a Critical Equity Gap
Project Zafiri, co-developed by the AfDB, the World Bank Group, and other global partners, addresses one of the most pressing barriers to clean energy access in Africa: the lack of long-term, risk-tolerant equity capital. The platform aims to unlock the full potential of DRE technologies like mini-grids and solar home systems, especially for underserved and rural communities.
Decentralized Energy Is Africa’s Fastest Path to Power
Unlike traditional grid systems, decentralized renewable energy can be deployed rapidly and cost-effectively. It’s a particularly effective solution in remote areas, conflict zones, and regions where infrastructure development is challenging. These systems are also modular and scalable, meaning they can grow with community needs.
Mission 300: Powering 300 Million Lives by 2030
Zafiri is a cornerstone of Mission 300, an ambitious plan to provide electricity access to 300 million people across Africa by 2030. More than half of those connections are expected to come from decentralized solutions, making this investment not just timely, but transformational.
Strategic Collaboration for Scalable Impact
By pooling resources and strategic know-how, AfDB and its partners are creating a model for sustainable energy investment that is both high-impact and inclusive. Project Zafiri aims to mobilize additional private sector capital, building a vibrant ecosystem where clean energy projects can scale—and succeed.
