Africa's clean energy fund targets $15.6 billion in investment with $405 million in financial commitments

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), is seeking to mobilise $15.6 billion in additional investment for clean energy projects across the continent, building on $405 million in financial commitments.

The fund aims to use its financing to attract additional capital from private investors, commercial banks and development finance institutions, helping to accelerate the development of renewable energy infrastructure in Africa.

Established in 2011, SEFA supports projects in renewable energy, energy efficiency and decentralised electricity systems. Its financing instruments include concessional loans, grants and technical assistance designed to reduce investment risks and improve the financial viability of clean energy projects.

Under its SEFA 2.0 programme, the fund has approved 54 operations across 46 African countries. Its portfolio targets more than 4,200 megawatts of additional renewable energy capacity and 8.9 million new electricity connections.

According to the African Development Bank, the programme had already contributed to 394 MW of installed capacity and 1.7 million new electricity connections at the time of its 2026 progress update.

The initiative comes as African countries face the challenge of expanding electricity access while reducing dependence on fossil fuels. Limited access to financing remains a major obstacle to the development of renewable energy infrastructure, particularly in markets where investors face significant financial and regulatory risks.

By providing early-stage financing and supporting project development, SEFA seeks to make clean energy investments more attractive to private capital.

The fund's strategy also complements broader continental efforts to expand electricity access, including Mission 300, an initiative led by the African Development Bank and the World Bank that aims to connect 300 million additional people in Africa to electricity by 2030.

Through its financing commitments and investment mobilisation strategy, SEFA aims to accelerate Africa's energy transition while supporting the development of more reliable and sustainable electricity systems.