The African Development Bank (AfDB), through its Sustainable Energy Fund for Africa (SEFA), is investing $10 million in the Persistent Africa Climate Venture Builder Fund (ACV Fund).
This fund targets technology startups in sub-Saharan Africa, aiming to accelerate the climate transition and attract up to $70 million in additional funding.
A Lever for Innovation and Social Impact
The investment prioritizes key sectors such as:
- Solar energy
- Electric mobility
- Energy efficiency
- Agricultural technology
- Circular economy
A particular focus is placed on women-led businesses to remove financial barriers often encountered during the startup phase.
Transformative Results Expected
This support is expected to generate significant changes:
- An additional 200 MW of renewable energy
- Energy access for 420,000 households and 31,000 businesses
- A reduction of 17 million tons of CO₂
- Creation of 66,000 jobs, with a significant share for women
A Strategic Commitment to Africa’s Future
João Duarte Cunha, Head of Renewable Energy Funds at AfDB, emphasizes that Africa faces both climate challenges and abundant opportunities. This investment represents a crucial step in transforming the energy landscape and fostering innovative local solutions.
