access across the continent.
Project Zafiri will address the lack of longer-term equity that is constraining the growth of the DRE sector in Africa, Daniel Schroth, Director for Renewable Energy and Energy Efficiency, said, adding that by anchoring the junior equity tranche, SEFA is helping to crowd in private investment at scale.
Zafiri aligns with the Bank’s Ten-Year Strategy (2024–2033) to promote private investment in energy infrastructure, the High 5s, particularly Light Up and Power Africa, Industrialize Africa, and Improve the Quality of Life for the People of Africa, and the New Deal on Energy for Africa.
It also contributes to both mitigation and adaptation goals under the Bank’s Climate Change and Green Growth Policy and Strategy and supports the objectives of SEFA and the Private Sector Development Strategy (PSDS) to mobilize equity for clean energy and energy efficiency investments. Zafiri also aligns with the Bank’s Equity Investment Framework and represents a pioneering approach to blended finance in Africa’s energy transition and a critical step toward achieving universal energy access.