The proposed transaction was announced on the sidelines of the Africa Energy Forum and remains subject to due diligence, final documentation, and regulatory and internal approvals.

The funding is expected to support Anzana’s acquisition pipeline and project development activities, with a strong focus on operating and brownfield energy assets in key markets, including the Lobito Corridor.

The capital is intended to help the company scale its existing platform while positioning it for a larger fundraising round as its portfolio matures.

Anzana develops, owns, and operates hydropower and electricity distribution projects across East, Central, and Southern Africa.

The company has become increasingly active in regional energy infrastructure development, particularly in markets seeking to expand electricity access and strengthen power networks.

It is backed by private U.S. investors and Gridworks Development Partners, an Africa-focused transmission and distribution investor wholly owned by British International Investment.

“This proposed partnership gives us the right kind of capital at the right point in our growth,” said Brian Kelly, Chief Executive Officer of Anzana Electric Group.

“Convergence Partners Energy Finance understands African energy from the ground up. They are not just providing funding; they are backing a thesis we share: that distributed hydropower and distribution infrastructure can be built into scalable, bankable platforms across the continent.”

The proposed investment highlights growing investor interest in Africa’s energy infrastructure sector, particularly in projects that can improve electricity access while supporting industrial development.

Reliable power remains one of the continent’s most significant economic challenges, with inadequate electricity infrastructure continuing to constrain manufacturing, mining, digital services, and broader private-sector growth.

The Lobito Corridor, one of the markets identified for investment, has emerged as a strategic infrastructure and trade corridor connecting mineral-rich regions of Central Africa to global export markets.

Energy investments along the corridor are increasingly viewed as critical to unlocking industrial activity, supporting mining operations, and expanding economic opportunities for communities located along the route.

For Convergence Partners Energy Finance, the transaction reflects its strategy of providing structured and mezzanine capital to growth-stage energy businesses that require flexible financing to scale.

The Mauritius-based investment vehicle was established on the premise that Africa’s energy and digital infrastructure sectors are becoming increasingly interconnected and require new forms of capital that sit between traditional debt and equity financing.

“Africa’s energy transition is held back not by a shortage of capital, but by a shortage of the right capital,” said Laurentius Human, Managing Partner at Convergence Partners Energy Finance.

“We focus on the gap between bankable and scalable. We sit in the risk stack alongside our partners, not above them. What we bring is not only financial capital but also knowledge capital: the deep African energy and operational experience that helps platforms like Anzana unlock value others cannot reach. Anzana is precisely the kind of business this instrument was built for.”

The proposed investment comes at a time when African governments, development financiers, and private investors are increasingly seeking scalable energy solutions that can support economic growth while expanding electricity access.

If completed, the transaction would strengthen Anzana’s ability to develop and acquire energy assets across multiple markets, adding momentum to efforts to build more reliable and commercially sustainable power infrastructure across the continent.