The KawiSafi Fund II, a venture capital fund dedicated to supporting African startups that focus on climate solutions, particularly in the renewable energy and clean mobility sectors, has secured a $10 million investment from the African Development Bank Group (AfDB). This strategic investment aligns with the AfDB’s broader mission to accelerate sustainable energy development and combat climate change across the African continent.
KawiSafi Fund II intends to leverage this substantial investment to fuel the growth of innovative companies tackling Africa’s critical energy challenges. By concentrating on scalable clean technology solutions, the fund aims to significantly enhance energy access, reduce carbon emissions, and play a pivotal role in Africa’s ongoing energy transition.
This investment also underscores the AfDB’s commitment to achieving Sustainable Development Goal 7, which seeks to ensure universal access to affordable, reliable, and modern energy services by 2030. It reflects the bank’s dedication to fostering sustainable development and resilience in Africa’s energy sector.
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Building on the success of its predecessor, KawiSafi Fund I, which made a notable impact in East Africa by supporting companies that delivered off-grid solar power to underserved communities, KawiSafi Fund II is poised to extend its reach and amplify its impact. With this new infusion of capital, the fund is well-positioned to drive transformative change, helping to build a more sustainable, resilient, and inclusive energy future for Africa.
