COMESA to Launch $25m Facility to Boost Renewable Electrification in Eastern, Southern Africa

The Common Market for Eastern and Southern Africa (COMESA) will launch a $25m Project Preparation Facility aimed at accelerating renewable electrification across Eastern and Southern Africa.

The initiative, known as the ASCENT Project Preparation Facility and funded by the World Bank, will be unveiled during the 2026 Energy Access Investment Forum at the Safari Park Hotel in Nairobi.

Assistant Secretary General for Programmes, Mohamed Kadah, who will officiate the launch, said the facility is designed to strengthen the pipeline of clean energy projects by providing technical support to developers and ensuring initiatives are structured to meet investment standards.

Kadah said the facility would help bridge the gap between project concepts and financing by preparing high-impact, bankable energy access projects capable of attracting capital for expansion into underserved communities and critical sectors.

He added that the intervention would unlock investment in renewable energy, promote productive energy use and accelerate the region’s transition to cleaner energy systems.

To support implementation, COMESA has appointed Cygnum Capital as fund manager. The firm will oversee the development of a portfolio of viable projects and provide both technical and financial advisory services to ensure compliance with international standards.

According to Kadah, the facility will also assist developers in mobilising capital and advancing energy use in key sectors such as agriculture, industry and commerce, thereby delivering long-term socio-economic benefits.

He noted that the launch of the facility during the Energy Access Investment Forum, scheduled for April 21 to 24, 2026, underscores COMESA’s growing role in driving Africa’s energy transition and strengthening regional integration through improved access to modern energy.