Zafiri has launched a $176 million investment platform aimed at accelerating electricity access across sub-Saharan Africa by supporting private sector distributed renewable energy companies.
The blended permanent-capital vehicle was announced at the Africa Energy Forum in Cape Town and will provide long-term equity financing to renewable energy businesses working to bring power to communities beyond traditional electricity grids.
Managed by Inspired Evolution, Zafiri will invest in distributed renewable energy solutions including mini-grids, solar home systems, productive-use energy technologies, and clean cooking enterprises. At least half of the platform’s capital is expected to support these areas.
The initiative aims to help connect more than 10 million people to electricity by 2030, with a long-term ambition to expand access to up to 30 million people across Africa.
Zafiri is designed to address a major financing challenge in Africa’s energy sector by providing patient capital to companies that often struggle to secure long-term equity investment. By strengthening renewable energy businesses, the platform aims to improve energy reliability, create jobs, and support local economic development.
The investment supports Mission 300, a major initiative led by the World Bank Group and the African Development Bank Group to expand electricity access to 300 million people in sub-Saharan Africa by 2030.
The fund brings together leading development institutions, philanthropic organizations, and private investors, including IFC, the African Development Bank Group, The Rockefeller Foundation, Trade and Development Bank Group, Nordic Development Fund, the MacArthur Foundation, and FirstRand Limited.
Following its initial launch, Zafiri plans to reach a final close of $300 million within 12 months, with a longer-term goal of scaling the platform to $1 billion.
The initiative marks a significant step toward building a more inclusive clean energy future by supporting renewable energy solutions that can transform communities, businesses, and livelihoods across Africa.
