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.
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
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 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).
Mashallah….. Viva Somaliland
Its good news, well done to the new NEC chairman, very compotent and proactive hope all Somalilanders support him because democracy is why we departed from Somalia and fought with the dictator.
All eyes is on Somaliland and this up and coming election MUST NOT, I repeat, MUST NOT be delayed nor cancelled.
Lets all pray to Allah that this election will be fair and free. Insha-Allah!!!
Let's hope it goes smooth, free, fair, and peaceful Inshaa Allah and that Riyaale and his henchmen don't come up with desperate last minute sabotage.
We can't trust this man, never mind voting for. Let's never put our guards down this time. We need to secure the border and look out for inside activities and every Somalilander should be the eyes and the ears of our country. Watch out for illegal activities during election. We hope he comes to his senses for the common good of the country.
This comes hours after Special Representative for the UN Secretary-General for Somalia, Mr. Ahmedou Ould-Abdallah, issued a letter from his Nairobi office stating: “The issuance of new voter registration cards will begin the second week in May 2010. Somaliland continues to give priority to discussion and dialogue over violence.”
Good to see Ahmedou Ould-Abdallah got hie piorities straight. While the world community continues to shower Somaliland with praise they shower the ineffective TFG with money, arms and trainers. I just hope the new voter registeration cards dont have "Somalia" on them instead of Somaliland.
Somalia never had an election and they never heard of thing called biometric cards there is no chance you will see that on it.
🙂
Come on sxb, this is a contract between Somaliland and a private firm in South Africa, Face Technology
Democracy Democracy, it is not the solution for our problems. It is not reflecting our religion and our culture and it is not for us.. this so called democracy it is made by other nations. For exm; if some one wearing a shirt and you like it that dosnt nacasserally mean it will fit you… but you will go out and look for something that suits well.. so, democracy is like that for us
So, as we africans or somalians or somalilanders we should com together and set up a system that is reflecting us in every angle Religion, calture, ect
therefore, i am not very optimistic about this up coming election moreover, all these three of them are lacking of leadership qualities and they are not after doing anything that will help our country. Infact they just after DOLARS ……
If you do not belief in Democracy that each citizen participate in, then you believe in the Al- sheitan type of rule?
Then, concentrate in South Somalia, we are known as Somalilanders where majority of us belief in capital "D" Democracy.
Democracy is not a solution!!!! OK. Please suggest something.
We should NEVER forget the young and brave men who fought died for the liberation and freedom Somali people in Somaliland enjoys today!
Yes the political system is not perfect and we must tackle corruption, offer greater freedom for journalist and solve the lack of economic development within Somaliland. However, I rather prefer present Somaliland than the past (69-91) ultra-corrupt, one party, communist dictator state of Siad Barre!!!
It's amazing that 1.1 million people had had registered to vote for the election. That shows we are serious about the future of our country and people. I congratulate the men and women who are working flat-out to make this election happen without any major bumps.
There is no need to cast out or bad mouth anyone else here. Please, refrain from being emotional or disrespectiful to others.
All Somallanders need to show patriotism and support a fair election. Those who are luckier and are not only going to be present for the election day at home, but also are registered and able to vote, should make sure they do what they believe is right for them and for their home country. Those of us who are, unfortunately, away and therefore can not vote, should encourage our families and friendsback home to go out and cast their votes fairly. And may Allah guide and protect our country men and women, and help them make the RIGHT choice in this election.
Salma I thought to were from Burao Northwest Somalia! Now you are a Somalilander?
What is your question exactly? In case you are not familiar with the geography of the country, Burao is the capital city of the Togdheer region, and was the capital city of Somaliland in the periods of 1991 and 92. I am not sure whether you are retarded and don't know much about Somaliland or you are trying to be sarcastic, but either way, it is not a good move.
Not necessary to leash out now…you have only asked for this enlightenment.