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African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank to make $30 million equity investment in Africa Finance Corporation to catalyse climate action

The investment is projected to contribute to the creation of over 1,600 full-time equivalent jobs by 2031, while also fostering regional integration, and generating clean, reliable energy

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $30 million equity investment in Africa Finance Corporation (AFC) for the rollout of innovative "green shares” aimed at mobilising resources for climate action projects across Africa. The innovative financial instruments are expected to unlock significant funding for high-impact projects,…

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    • Africa Investment Forum 2024: Sustainable Energy Fund for Africa welcomes Japan as donor; showcases innovative financing solutions for Africa's energy transition
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Source: African Development Bank Group (AfDB) |

Africa Investment Forum 2024: Sustainable Energy Fund for Africa welcomes Japan as donor; showcases innovative financing solutions for Africa's energy transition

The announcement was made at a thematic boardroom session showcasing innovative funding structures to accelerate Africa's energy transition

The Sustainable Energy Fund for Africa (SEFA) recorded a new milestone at the Africa Investment Forum 2024, with the announcement of Japan as its newest contributor, expanding the Fund’s donor base to 11 and strengthening its capacity to support crucial energy projects. The announcement was made at a thematic boardroom…

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    • The project involves the design, construction, operation, and maintenance of a greenfield wind farm divided into two sites, located along the Gulf of Suez
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Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank Approves $170 Million for Egypt’s Largest Wind Energy Project

The Bank’s financing is in addition to financing expected from a consortium of Development Finance Institutions (DFIs), banks, and financial institutions

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of up to $170 million to support the development of the game-changing 1.1 GW Suez Wind Project, currently Egypt’s largest wind energy initiative. The total project cost is estimated at $1.1 billion. The Bank’s financing is in…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Zambia: African Development Bank’s Sustainable Energy Fund for Africa approves $8 million for development of 25 MW Solar Plant

Serengeti Energy Ltd and Western Solar Power Ltd are leading the plant development in Zambia's Sesheke District

The African Development Bank Group’s (www.AfDB.org) Board of Directors has approved an $8 million concessional loan to support the construction of a 25MW Solar Photovoltaic power plant in Zambia. The financing for the Ilute Plant will be sourced from the Sustainable Energy Fund for Africa (SEFA), a multi-donor Special Fund managed…

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    • The electricity highway between Ethiopia and Kenya represents a technological advance for electricity transmission
    • The project is a model of sustainability, allowing better integration of wind power, Solar and hydroelectricity into regional networks
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Source: African Development Bank Group (AfDB) |

East Africa: The Ethiopia-Kenya Electricity Highway is Shaping Regional Connectivity with the Support of the African Development Bank

This high voltage DC infrastructure is the only one of its kind in the region and is the foundation of East Africa’s ambition to be interconnected in terms of power exchange and allow cross-border trade in energy

The electricity highway between Ethiopia and Kenya, officially opened in 2023 after more than 10 years of planning and construction, is redefining energy connectivity in East Africa. It is more than a piece of infrastructure, it is an economic and environmental entity, connecting not just power grids but nations and…

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    • On-site production of oxygen is saving the lives of newborn babies at Gitego general hospital
    • Franck Arnaud Ndorukwigira, doctor and deputy director of Gitega regional hospital, leads a tour of the wards
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Source: African Development Bank Group (AfDB) |

Burundi: Electricity from the Rusumo Falls power station, built with support from the African Development Bank, is saving the lives of hospital patients and premature babies

Cheap and reliable hydroelectric supplies mean that the Gitega hospital can spend more money on medical equipment and hospital teams can focus on saving lives

“One day, in the operating theatre, there was a power cut́ in the middle of a laparotomy [opening of the abdomen] for a case of pelvic peritonitis. We had to finish the operation using a torch. It was very hard.” Dr Franck Arnaud Ndorukwigira, doctor and deputy director at Gitega…

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    • Budget support to Seychelles from the African Development Bank will help improve access to renewable energy in the archipelago
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Source: African Development Bank Group (AfDB) |

Seychelles: African Development Bank approves a USD 25 million loan to improve access to renewable energy and create jobs

The programme will support current efforts of the Seychelles Ministry of Investment, Entrepreneurship and Industry to drive economic diversification and transformation in the key sectors of fishing and tourism

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $25 million loan to Seychelles to implement the first phase of the Economic Resilience and Green Recovery Support Programme aimed at economic governance management across the archipelago. The operation, the first in a series of programmes…

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    • With the approval of €6 million from SEFA for the Dédougou Solar Project, Burkina Faso is set to benefit from enhanced energy access, powering development and bringing clean, reliable electricity to communities under the Desert-to-Power initiative
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Source: African Development Bank Group (AfDB) |

African Development Bank Group’s Sustainable Energy Fund for Africa approves €6 Million for Desert to Power - Burkina Faso Solar Project

Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030

The African Development Bank Group (www.AfDB.org) has approved a €6 million concessional financing package from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank, to accelerate the completion of Burkina Faso’s Dédougou photovoltaic solar project in support of the Bank's Desert-to-Power initiative (https://apo-opa.co/3XKXpwG). The project…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

At United Nations General Assembly (UNGA 79), African Development Bank affirms standing as champion of Africa’s prosperity

The 2024 meetings take place against a backdrop of growing concern about the ability to meet critical targets outlined in the Sustainable Development Goals (SDGs) agenda

As the world convenes in New York this week for the United Nations General Assembly (UNGA 79), Africa’s 1.2 billion people will be counting on their participating leaders and pan-African institutions like the African Development Bank Group (www.AfDB.org) to lead the charge on matters critical to the continent’s sustainable development…

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    • SEFA is continuously investing in clean and affordable energy with a US$10 million investment in KawiSafi II Fund © sistema.bio
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Source: African Development Bank Group (AfDB) |

African Development Bank Group’s Sustainable Energy Fund for Africa approves $10 million contribution to KawiSafi II clean-energy Fund

KawiSafi II is a $200 million venture equity fund to address investment gaps in energy transition, productivity, mobility and logistics in sub-Saharan Africa

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $10 million junior equity investment in the KawiSafi (www.KawiSafi.com) II Fund to help local businesses create and expand climate projects that aid vulnerable communities. The approved financing will be deployed from the Sustainable Energy Fund for…