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IFC - International Finance

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IFC finances $80m to bring clean energy to business in Africa

IFC is backing the development of renewable energy for businesses in Africa, pledging $80 million to the Facility for Energy Inclusion (FEI). This includes a $30 million IFC loan and additional funds from various sources, with the goal of delivering sustainable energy solutions for African businesses.
The IFC's substantial financial commitment demonstrates a strong support for renewable energy in Africa. This investment is a significant step towards providing sustainable energy solutions for businesses in the region. This is the best move in phasing out fossils fuels.
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https://www.afrik21.africa/en/africa-ifc-finances-80m-to-bring-clean-energy-to-businesses/



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27 more agrees trigger contact with the recipient

  • johnte ndeto

    13 w

    Africa should now step up having been funded

    3
    • Charles Peter Odok

      13 w

      To the best of my knowledge, most businesses in my country - Uganda use hydro electricity which is considered clean energy. If the intention is to reduce carbon emission, then the focus in countries like mine should be at domestic energy use for cooking which largely is carried out through charcoal and gas use. The burning of charcoal is fast depleting natural forest. Forest act as a carbon sink. Each Country therefore should be handle on case by case basis if such energy use is categories under business.

      3
      • Rukia Ahmed Abdi

        13 w

        The IFC's pledge of $80 million to support renewable energy for businesses in Africa is a commendable and impactful initiative. This substantial financial commitment reflects a strong dedication to advancing sustainable energy solutions in the region. By investing in the Facility for Energy Inclusion (FEI), the IFC is taking a significant step towards phasing out fossil fuels and fostering a cleaner, greener energy landscape for African businesses. This move aligns with the global imperative to combat climate change and underscores the importance of international organizations playing a proactive role in driving sustainable development

        3
        • George Kariuki

          13 w

          Renewable energy can unlock significant economic opportunities in Africa. It can create green jobs, boost energy security, and improve the competitiveness of African businesses in the global market.

          4
          • Edwin wangombe

            14 w

            this is such an amazing commitment and investment that will help Africa make that important leap into green energy

            6
            • Rotich Kim

              14 w

              Win in environment and economy in Africa continent 💪

              4
              • Edwin wangombe

                14 w

                @rotich_kim I agree... this commitment by the IFC to help Africa achieve its target of transiting to clean energy

                4
              • CHRIS NGATIA

                14 w

                This is such a great gain for Africa

                5
                • Edwin wangombe

                  14 w

                  @chris_ngatia I hope that the money will be allocated fairly and be used for the right purpose

                  4
                  • Jane Wangui

                    14 w

                    @edwin_wangombe I concur.Most projects fail because of mismanagement of funds.

                    4
                  • Elizabeth Gathigia

                    14 w

                    Great news for Africa, its an investment that will enable Africa embrace clean energy

                    7
                    • CHRIS NGATIA

                      14 w

                      @elizbeth_gathigia these are such great news

                      5
                      • Edwin wangombe

                        14 w

                        @elizbeth_gathigia I just hope that the IFC will formulate a strategy and policies that will ensure that this money is used for the right purpose

                        4
                      • Princess

                        14 w

                        This is a great initiative fostering both economic growth and environmental sustainability .

                        6
                        • Edwin wangombe

                          14 w

                          @princess_nel_268 this will go a long way in helping Africa get closer to the continental transformation to green energy

                          4
                        • Joseph Githinji

                          14 w

                          This is a great investment that is going to aid Africa to get out of fossil fuels dependacy.

                          11
                          • Edwin wangombe

                            14 w

                            @joseph_githinji I strongly agree... this is a worthwhile investment

                            4
                          • Kevin

                            14 w

                            Giving African businesses a chance to divest from fossil fuels through funding clean energy is a gesture of utmost good will. Thank you IFC.

                            11
                            • walter lungayi

                              14 w

                              @Kevin I strongly agree with you.

                              5
                              • Edwin wangombe

                                14 w

                                @Kevin IFC needs more climate love for this commitment

                                4
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