Zafiri Platform Launches with $176 Million to Accelerate African Distributed Renewable Energy Access

Catalyzing Distributed Renewable Energy Across Africa

A new blended-finance platform, Zafiri, has commercially launched with $176 million in initial capitalization, aiming to significantly expand electricity access across Sub-Saharan Africa through long-term investment in distributed renewable energy (DRE) businesses. The launch, announced at the Africa Energy Forum in Cape Town, South Africa, on June 17, 2026, marks a pivotal step in addressing persistent energy access challenges on the continent.

Zafiri is designed as a permanent-capital vehicle to provide patient equity financing to companies operating in critical sectors, including mini-grids, solar home systems, productive-use energy technologies, and clean cooking solutions. At least half of its capital is specifically earmarked to support mini-grids, solar home systems, and clean cooking businesses, which are increasingly recognized as the fastest and most cost-effective methods for electrifying communities beyond the reach of national power grids. The platform aims to facilitate more than 10 million new electricity connections by 2030, with a long-term goal of reaching at least 30 million over its operational lifetime.

This initiative directly tackles a significant market gap: the shortage of patient, long-term equity capital necessary to de-risk and scale DRE solutions. According to Wale Shonibare, Director for Energy Financial Solutions, Policy, and Regulations at the African Development Bank, Zafiri represents the largest patient capital commitment to the African DRE sector to date. He emphasized that it exemplifies how structured blended financing can unlock commercial capital while simultaneously delivering inclusive and climate-resilient energy access across the continent.

A Cornerstone of Mission 300

Zafiri is a cornerstone initiative under Mission 300, an ambitious joint effort by the World Bank Group and the African Development Bank Group, supported by entities like The Rockefeller Foundation and the Global Energy Alliance for People and Planet (GEAPP). Mission 300 aims to connect 300 million Africans to electricity by 2030. Kevin Kariuki, Vice President for Power, Energy, Climate, and Green Growth at the African Development Bank, highlighted Zafiri as a catalytic platform integral to achieving universal energy access in Africa, providing a timely and innovative solution to scale private capital for impact with just five years remaining to reach the Mission 300 goal. Distributed renewable energy solutions are expected to account for at least 50% of new electricity connections in Africa by 2030 under this framework.

The platform is part of a broader strategy to mobilize private capital into energy access projects, with a long-term target of scaling its capitalization towards $1 billion. Makhtar Diop, IFC Managing Director, underscored the commitment to bringing reliable, affordable power to homes, schools, and businesses across the continent, stating that Zafiri is an important part of that strategy to unlock investment into a sector that will transform Africa's economic and social future.

A Multi-Stakeholder Partnership for Impact

A coalition of prominent development finance institutions, philanthropic organizations, and private-sector investors are the founding shareholders behind Zafiri. These include the International Finance Corporation (IFC), the African Development Bank Group and its Sustainable Energy Fund for Africa (SEFA), The Rockefeller Foundation, Trade and Development Bank (TDB Group), Nordic Development Fund (NDF), the John D. and Catherine MacArthur Foundation, and FirstRand Limited.

Specific commitments include a $40 million equity investment from the African Development Bank Group, a $15 million contribution from the Nordic Development Fund as concessional capital to de-risk the platform, and an intended $10 million investment from The Rockefeller Foundation. Inspired Evolution, an African climate-focused investment firm, has been appointed as the investment manager for the platform. Wayne Keast, Managing Partner at Inspired Evolution, noted that Zafiri combines the strengths of multilateral agencies, development finance institutions, and philanthropic funders with private sector agility to support energy access at scale. Satu Santala, NDF Managing Director, celebrated Zafiri's launch as an important milestone to scale up access to distributed renewable energy in Sub-Saharan Africa, anticipating that its success will mobilize significant commercial financing into currently under-invested sub-sectors.

The strategic deployment of patient, blended capital through Zafiri reflects a growing understanding that targeted private sector engagement, particularly in distributed renewable energy, is indispensable for achieving Africa's ambitious electrification goals.