The African Development Bank (AfDB) has announced a $10 million investment through its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund). The funding aims to accelerate climate technology entrepreneurship across Sub-Saharan Africa by addressing critical financing gaps for early-stage startups focused on innovative environmental solutions.
The catalytic funding is expected to unlock an additional $70 million in financing, targeting high-potential ventures in key sectors such as solar energy, energy efficiency, electric mobility, agricultural technology, and circular economy innovations. Notably, the initiative prioritizes women-led and women-managed businesses, underscoring the vital role of women in advancing sustainable economic growth.
Blended Finance Model to Drive Investment
The investment employs a…
