Connect with us
Anglostratits

Business

The African Development Bank (AfDB) and Sustainable Energy Fund for Africa (SEFA) provide $40 million investment in equity platform Zafiri to accelerate renewable energy access across Africa

Published

12 months ago

on

African Development Bank

Zafiri – jointly developed by the Bank, World Bank Group and other partners – aims to address the critical shortage of patient, longer-term equity capital needed to de-risk and scale Decentralized Renewable Energy solutions (DRE)

ABIDJAN, Ivory Coast, July 18, 2025/APO Group/ –The Board of Directors of the African Development Bank (www.AfDB.org) has approved a $40 million equity investment in Project Zafiri, a transformative equity platform and flagship initiative under Mission 300 (https://apo-opa.co/4m1ve7m). This investment will accelerate the expansion of renewable energy access across Africa.

 

Zafiri – jointly developed by the Bank, World Bank Group and other partners – aims to address the critical shortage of patient, longer-term equity capital needed to de-risk and scale Decentralized Renewable Energy solutions (DRE) for underserved communities across the continent.

Decentralized Renewable Energy is the fastest, most cost-effective, and sustainable way to expand electricity access in rural Africa. Unlike centralized grids, DRE solutions—such as mini-grids and stand-alone solar home systems—can be deployed quickly and affordably, even in remote or fragile areas.

Under Mission 300, which aims to connect an additional 300 million people to electricity by 2030, DRE will play a central role in ensuring no community is left behind. These decentralized systems are modular, scalable, and well-suited to the continent’s dispersed populations and geographic challenges. More than half of all new electricity connections by 2030 are expected to come from DRE.

Zafiri is a catalytic platform that will be an integral component of the Bank’s strategy to accelerate universal access to modern energy in Africa

Zafiri is structured as a Permanent Capital Vehicle with a targeted capitalization of $1 billion, raised through a phased approach. Phase 1 targets $300 million in total commitments, equally split between junior and senior equity, with junior equity serving as a key catalyst to crowd-in private sector in this higher-risk, undercapitalized market.

The African Development Bank’s $40 million contribution consists of $30 million in senior equity from its balance sheet and $10 million in junior equity from the Sustainable Energy Fund for Africa (SEFA), a multi-donor special fund managed by the Bank.

“Zafiri is a catalytic platform that will be an integral component of the Bank’s strategy to accelerate universal access to modern energy in Africa. With just five years remaining to reach Mission 300’s goal of additional 300 million connections by 2030, this initiative provides a timely and innovative solution to scale private capital for impact,” noted Kevin Kariuki, Vice President for Power, Energy, Climate, and Green Growth at the African Development Bank.

Wale Shonibare, Director for Energy Financial Solutions, Policy, and Regulations, described Zafiri as the largest patient capital commitment to the African DRE sector to date. He said it exemplifies how structured blended financing can unlock commercial capital while delivering inclusive, climate-resilient energy 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.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Home  Facebook

Related Topics:
Continue Reading
Advertisement

Events

Hong Kong Hosts Lions International Convention for the Third Time

Published

3 hours ago

on

July 9, 2026

By

Hong Kong

Over Ten Thousand International Delegates Gather in Hong Kong Confirming City’s Status as World’s Meeting Place
HONG KONG SAR – Media OutReach Newswire – 4 July 2026 – The Hong Kong Tourism Board is proud to support the 108th Lions International Convention 2026 in Hong Kong. Having previously hosted the convention in 1992 and 2005, Hong Kong has once again been chosen by Lions Clubs International as the venue for its flagship event, attracting around 17,000 delegates from across the globe. Hong Kong has thus become one of the very few cities among more than 200 Lions member countries and regions worldwide to have secured hosting rights three times. This underscores Hong Kong’s status and appeal as the Events Capital of Asia and the World’s Meeting Place.

Hosting Same High-Profile Event for the Third Time Cements Hong Kong’s Title as Asia’s World City

HKTB Chairman Dr Peter Lam said, “HKTB is delighted to partner with the Lions Clubs International District 303 Hong Kong and Macao, China, to bring this Convention to Hong Kong for the third time. Its return affirms Hong Kong’s position as the World’s Meeting Place and a top-of-mind destination for MICE tourism. It also showcases Hong Kong’s integrated strengths in world-class MICE infrastructure, global aviation connectivity, diverse and distinctive tourism offerings, and quality hospitality services. These are the key factors in attracting international MICE events and encouraging business travellers to return time and again. We extend our warmest welcome to Lions from around the world and, together with our industry partners, have curated exclusive itineraries and experiences to encourage delegates to stay longer and discover the unique appeal that can be found only in Hong Kong.”

Lions Clubs International is one of the world’s largest service organisations, with more than 1.4 million members and around 50,000 district clubs across over 200 countries and regions. Since 1917, the organisation has supported communities worldwide through a wide range of social service and community aid initiatives.

Lions International Convention 2026 Honorary Chairman and Past International President Dr Tam Wing-kun said, “Hong Kong is an international metropolis where Eastern and Western cultures converge. With its well-developed professional services and comprehensive MICE infrastructure, Hong Kong is an ideal host for this international mega event. I am delighted that the Convention has returned to Hong Kong. This year’s edition will provide Lions from all corners of the world with a broad and diverse platform to explore the future development of international services. Delegates will also be able to experience first-hand Hong Kong’s world-class cuisine and rich cultural appeal. I am confident they will be the best ambassadors possible when they return home, telling the good stories of Hong Kong to the world.”

Lions Attempt Tai Chai World Record in Hong Kong
The 108th Lions International Convention is being held for five consecutive days from 3 to 7 July at AsiaWorld-Expo. To celebrate its return to Hong Kong and promote traditional Chinese culture, the organiser will attempt to set a world record with thousands of international Lions practising Tai Chi simultaneously. The activity aims to promote exercise for all and deepen participants’ understanding of the Sustainable Development Goals, creating a meaningful finale to the convention.

HKTB Teams Up with the Trade to Offer Unforgettable Cultural Tourism Experiences
As a supporting organisation of the 108th Lions International Convention, HKTB has teamed up with the local travel trade and major attractions to curate a series of exclusive tourism itineraries and offerings for convention delegates. These include transport offers, attraction tickets and shopping mall discounts, gift redemptions, and theme park deals to encourage delegates to stay in Hong Kong after the convention and explore more of the city’s diverse culture, cuisine, and unique tourism appeal.
HKTB will continue to bring more influential large-scale international MICE events to Hong Kong, further strengthening the city’s competitiveness and appeal as world-class, top-of-mind destination for both business and leisure tourism.

 

Continue Reading

Business

Spiro Kenya Unveils Khaligraph Jones as Brand Ambassador to Champion Kenya’s Electric Mobility Revolution

Published

18 hours ago

on

July 8, 2026

By

Spiro

The collaboration with Khaligraph Jones is expected to amplify Spiro’s brand visibility and support its mission of making electric mobility accessible to every rider while driving the transition to a cleaner and more sustainable future

NAIROBI, Kenya, July 8, 2026/APO Group/ —

  • The announcement marks the beginning of a collaboration that brings together one of Kenya’s most influential personalities and a company at the forefront of transforming transportation through clean, sustainable mobility.

 

  • As Brand Ambassador, Khaligraph Jones will support Spiro’s initiatives to promote electric mobility, engage rider communities, and drive public awareness on the environmental and economic benefits of electric motorcycles and battery-swapping technology.

Spiro Kenya (www.Spironet.com), Africa’s leading electric mobility company, today officially unveiled award-winning rapper, entrepreneur, and cultural icon Khaligraph Jones as its Brand Ambassador in a strategic partnership aimed at accelerating awareness and adoption of electric mobility solutions across Kenya.

Today marks an exciting milestone for Spiro Kenya as we officially welcome Khaligraph Jones to our family

The announcement marks the beginning of a collaboration that brings together one of Kenya’s most influential personalities and a company at the forefront of transforming transportation through clean, sustainable mobility.

Welcoming Khaligraph Jones to the Spiro family, Raymond Robert Kitunga, Deputy Country Head, Spiro Kenya, expressed confidence that the partnership would strengthen the company’s efforts to connect with riders, young people, and communities across the country while advancing the conversation around sustainable transport.

“Today marks an exciting milestone for Spiro Kenya as we officially welcome Khaligraph Jones to our family. Through this partnership, we aim to inspire a new generation to embrace cleaner, smarter, and more sustainable transportation solutions,” said Raymond Robert Kitunga, Deputy Country Head, Spiro Kenya.

As Brand Ambassador, Khaligraph Jones will support Spiro’s initiatives to promote electric mobility, engage rider communities, and drive public awareness on the environmental and economic benefits of electric motorcycles and battery-swapping technology.

Speaking during the unveiling, Khaligraph Jones said he was proud to partner with a brand that is helping shape the future of transportation in Africa.

“I’m excited to join the Spiro family and be part of a movement that is changing how people move every day. I look forward to working together to inspire more Kenyans to embrace the future of mobility,” said Khaligraph Jones.

The partnership comes at a time when Kenya is increasingly embracing clean energy solutions and innovation-driven transportation systems. Spiro continues to provide riders with affordable, reliable, and environmentally friendly mobility solutions while creating economic opportunities for thousands of riders across the country.

The collaboration with Khaligraph Jones is expected to amplify Spiro’s brand visibility and support its mission of making electric mobility accessible to every rider while driving the transition to a cleaner and more sustainable future.

Distributed by APO Group on behalf of Spiro.

 

Continue Reading

Energy

Gold Fields’ Benford Mokoatle to Shape Gold Investment Agenda at African Mining Week

Published

18 hours ago

on

July 8, 2026

By

Etu Energias

Gold Fields Executive Vice President Benford Mokoatle will contribute to African Mining Week’s program, bringing more than two decades of operational leadership to discussions on investment, production growth and value addition across Africa’s gold sector

CAPE TOWN, South Africa, July 8, 2026/APO Group/ –Benford Mokoatle, Executive Vice President at Gold Fields, has been appointed to the Advisory Board of African Mining Week (AMW) – Africa’s Most Influential Mining Conference.

 

Mokoatle’s appointment reinforces AMW’s commitment to bringing together leading industry figures to help shape discussions on the opportunities and challenges transforming Africa’s mining sector. It also comes at a pivotal time for the continent’s gold industry, as record gold prices and sustained central bank demand create favorable conditions for new project development and investment.

Benford Mokoatle brings more than two decades of operational and leadership experience in Africa’s gold mining industry

In his advisory role, Mokoatle will provide strategic guidance on the event’s gold-focused agenda, engage with industry stakeholders and support participation from mining executives, investors and government leaders. His expertise will help ensure AMW delivers practical insights into the trends shaping Africa’s gold industry while fostering partnerships that unlock new investment opportunities.

Taking place under the theme, “Mining the Future: Unearthing Africa’s Full Mineral Value Chain” from October 14–16 in Cape Town, AMW will feature a dedicated Gold Forum examining the key opportunities and challenges across Africa’s gold value chain. Discussions will focus on increasing production, advancing local beneficiation and supporting the formalization of artisanal and small-scale mining.

With more than 21 years of mining experience, Mokoatle has held senior technical and operational leadership positions at Gold Fields, AngloGold Ashanti and De Beers. His expertise spans geology, mine management and operational excellence, providing him with a comprehensive understanding of the operational and strategic priorities shaping Africa’s gold industry.

At Gold Fields, Mokoatle plays a leading role in advancing the South Deep Mine in South Africa – one of the world’s deepest and largest gold mines – as a cornerstone of the company’s long-term growth strategy. Current initiatives include the South of Wrench development and renewable energy projects designed to improve operational efficiency while supporting Gold Fields’ 2026 production guidance of 2.4 to 2.6 million ounces.

“Benford Mokoatle brings more than two decades of operational and leadership experience in Africa’s gold mining industry. His contribution will be instrumental in ensuring AMW 2026 delivers meaningful outcomes for the sector,” said Rachelle Kasongo, Event Director, AMW. “As African producers expand output to capitalize on strong global demand, his expertise will help shape the program and strengthen dialogue on the policies, partnerships and investment needed to support long-term growth.”

Distributed by APO Group on behalf of Energy Capital & Power.

 

Continue Reading

Trending