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KawiSafi Fund Gets $10 Million Boost from AfDB for Climate Projects

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The KawiSafi Fund is set to receive a significant boost of $10 million from the African Development Bank Group (AfDB) to support climate-focused businesses in Africa.
 
This investment, channeled through the Sustainable Energy Fund for Africa (SEFA), aims to accelerate the development and expansion of projects targeting vulnerable communities.

The $200 million KawiSafi Fund II focuses on energy transition, productivity, mobility, and logistics in sub-Saharan Africa.
 
The AfDB’s contribution will help the fund reach its target of supporting innovative African startups tackling climate change through renewable energy, clean mobility, and other essential sectors.

Amar Inamdar, Managing Director of KawiSafi Ventures, hailed the AfDB’s investment as “catalytic,” emphasizing its role in attracting additional capital to the fund.
 
João Duarte Cunha, Manager of the Bank Group’s Renewable Energy Funds Division, highlighted the fund’s importance in providing crucial financial support to businesses during a critical period of energy transition.

KawiSafi Fund I, the fund’s predecessor, has already demonstrated success through investments in companies like d.light, Bboxx, and BioLite.
 
These companies have made significant strides in the off-grid energy sector, with d.light recently securing a $176 million securitisation facility and Bboxx relocating its headquarters to Rwanda.

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