AfDB Commits $40M to New Equity Platform for Decentralized Energy
TLDR
- The African Development Bank (AfDB) has approved a $40 million investment in Zafiri, a pan-African private equity platform focused on decentralized renewable energy (DRE)
- The platform, developed with the World Bank Group and other partners, aims to accelerate electrification for 300 million Africans by 2030
- The initiative is structured as a permanent capital vehicle targeting $1 billion, with a first phase of $300 million divided equally between secured and high-risk shares to attract diverse investors
The African Development Bank (AfDB) has approved a $40 million investment in Zafiri, a pan-African private equity platform focused on decentralized renewable energy (DRE). The platform, developed with the World Bank Group and other partners, aims to accelerate electrification for 300 million Africans by 2030 as part of AfDB’s Mission 300.
Zafiri addresses a long-standing gap in patient capital for large-scale DRE projects in rural and off-grid areas. The initiative is structured as a permanent capital vehicle targeting $1 billion, with a first phase of $300 million divided equally between secured and high-risk shares to attract diverse investors.
AfDB’s commitment includes $30 million in senior shares and $10 million in junior shares from the Sustainable Energy Fund for Africa (SEFA). The fund will help scale mini-grids and solar home systems to provide affordable and rapid electrification solutions.
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Points clés à retenir
Zafiri is a major step toward closing Africa’s clean energy funding gap. Unlike conventional grid-based strategies, the platform backs decentralized systems suited to Africa’s geographic challenges. It blends public and private capital, targeting projects with high social and environmental impact. AfDB says this is the largest patient equity commitment made to the DRE sector to date. The platform is aligned with AfDB’s 2024–2033 strategy, the SEFA mandate, and the New Deal on Energy for Africa. Zafiri supports investment goals under “Lighting Up Africa,” “Industrializing Africa,” and “Improving People’s Quality of Life.” As Africa pursues energy access, Zafiri aims to drive investor confidence by absorbing early-stage risk, unlocking capital for long-term solutions, and promoting financial innovation in clean infrastructure.
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