The African Development Bank has approved a $40 million equity investment in Project Zafiri, a transformative equity platform under Mission 300.

The investment aims to address the shortage of equity capital needed to scale Decentralised Renewable Energy solutions (DRE) for underserved communities in Africa.

DRE is the fastest, most cost-effective, and sustainable way to expand electricity access in rural Africa.

 The initiative is structured as a Permanent Capital Vehicle with a targeted capitalisation of $1 billion, raised through a phased approach.