Sustainable Energy Fund For Africa Expands Donor Base

At the 2024 Africa Investment Forum, the Sustainable Energy Fund for Africa (SEFA) has announced Japan as its latest donor, increasing its donor base to 11 and enhancing its ability to fund vital energy projects across Africa.

The announcement was made during a thematic boardroom session that highlighted innovative financial strategies to drive the continent’s energy transition.

The event also featured the launch of the Understanding Power Project Financing Handbook, a collaborative effort by the U.S. Department of Commerce’s Commercial Law Development Program, Power Africa, the African Legal Support Facility, and SEFA.

The handbook provides a practical guide to navigating power project financing, risk mitigation, and attracting climate-focused investments.

The session included two panels moderated by Dr. Daniel Schroth of the African Development Bank. The first explored the evolving role of blended finance in making projects bankable, while the second highlighted SEFA-backed investment-ready projects, such as the ARM-Harith Successor Infrastructure Equity Fund in Nigeria, the Moyi Power Metro-Grids project in the Democratic Republic of Congo, and BURN Clean Cooking Solutions in Kenya.

Dr. Kevin Kariuki, Vice-President for Power, Energy, Climate Change, and Green Growth at the African Development Bank, emphasised SEFA’s growing role in addressing Africa’s energy challenges:

“With Japan joining as a donor, SEFA is well-positioned to tackle the energy access gap and achieve the goals of Mission 300—universal electricity access for 300 million Africans by 2030.”

The event ended with a call for global collaboration and investment to further Africa’s energy transition goals.