AfDB’s SEFA Commits USD 10 M to Boost ClimateTech

The African Development Bank (AfDB) has announced a USD 10 M investment through its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund). This investment will unlock USD 70 M in funding for early-stage climate-focused ventures across Sub-Saharan Africa.

The ACV Fund will prioritize the critical financing needs of early-stage climate technology entrepreneurs, targeting sectors such as solar energy solutions, energy efficiency technologies, electric mobility, agricultural technology, and circular economy innovations. Special emphasis will be placed on supporting African entrepreneurs, particularly women-owned or managed businesses.

SEFA’s investment takes a blended finance approach, aiming to attract additional private capital while mitigating risks for early-stage climate businesses. This initiative aims to accelerate the development of sustainable technologies across the continent by addressing the shortage of equity financing for high-potential climate ventures.