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World Bank and AfDB unveil $40bn programme for Africa

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The World Bank and African Development Bank (AfDB) have outlined terms for African countries to secure $40bn in power finance under the Mission 300 programme. This initiative seeks to provide electricity access to 300 million Africans by 2030, Bloomberg reports. Currently, sub-Saharan Africa’s electricity access ranges from 1% in South Sudan to 94% in South Africa, per the International Energy Agency. Mission 300 aims to connect half the population through grid-linked power projects, with the…

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AfDB invests in climate tech in Sub-Saharan Africa

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The African Development Bank (AfDB) has committed USD 10 million from its Sustainable Energy Fund for Africa (SEFA) to the Persistent Africa Climate Venture Builder Fund (ACV Fund). This initiative supports climate technology entrepreneurship in Sub-Saharan Africa. The ACV Fund will provide early-stage financing to ventures in sectors such as solar energy, energy efficiency, electric mobility, agricultural technology, and circular economy solutions. The investment is expected to unlock an additional USD 70 million for climate-focused…