The African Development Bank (AfDB) (www.AfDB.org) has unveiled a series of landmark investments worth more than $145 million, targeting renewable energy access, sustainable agriculture, women and youth empowerment, and financial market modernization across Africa.
$4m for electric cooking in East Africa
Through its Sustainable Energy Fund for Africa (SEFA), the Bank has approved a $4 million reimbursable grant to launch the Burn Electric Cooking Expansion Program (BEEP). The initiative will distribute 115,000 Burn ECOA induction cookers to low-income households in Kenya, Uganda, and Zambia, reducing reliance on charcoal and improving indoor air quality.
The program, implemented by Kenya-based Burn Manufacturing Company, is financed through a Special Purpose Vehicle (SPV) that includes a $5 million senior loan from Spark+ Africa Fund, $4 million from SEFA, and $1 million in equity from Burn. Costs will be recouped via voluntary carbon credit sales, while users benefit from pay-as-you-go plans that significantly reduce upfront expenses.
“This is the Bank’s first carbon finance transaction of its kind, with SEFA mitigating carbon market risks to ensure sustainability,” said Dr. Daniel Schroth, AfDB’s Director for Renewable Energy and Energy Efficiency.
Burn CEO Peter Scott described the initiative as a breakthrough that will scale IoT-enabled, zero-emission cookers, “providing low-income households with a clean and affordable alternative to charcoal and wood.”
€100m loan to boost Moroccan agriculture
In Morocco, AfDB’s Board has approved a €100 million loan to strengthen solidarity-based agriculture programs focused on women and youth. The initiative will create economic opportunities, enhance food security, and support small-scale farmers to withstand climate change impacts.
“Women who aspire to innovate and succeed in agriculture are our priority,” said Achraf Tarsim, head of AfDB’s Morocco office. The program aligns with Morocco’s Green Generation 2020–2030 Strategy, the National Solidarity Agriculture Program, and the Youth Entrepreneurship Program.
Transforming rural Côte d’Ivoire
In central Côte d’Ivoire, AfDB-backed Project to Improve the Livelihoods of Smallholders and Women (PREMOPEF) is revitalizing farming in the N’Zi region. Co-funded by the Global Agriculture and Food Security Program (GAFSP) and the African Development Fund, the project supports 60,000 vulnerable people—50% women—by promoting climate-smart practices for yam, cassava, and vegetable farming.
Koffi Kouakou Charles, a local farmer, doubled his yam harvests after adopting modern agroecological techniques introduced by the project. “Before, I was just surviving,” he said. “Now I can plan for my children’s future and expand my farm.”
Ceserd Waba Akpaud, project coordinator, called PREMOPEF “a powerful tool for reducing vulnerability and strengthening resilience against environmental and economic shocks.”
$40m equity for renewable energy access
The Bank has approved a $40 million equity investment in Project Zafiri, a flagship platform under Mission 300, which aims to connect 300 million Africans to electricity by 2030. Zafiri, developed with the World Bank Group and partners, will channel long-term capital into Decentralized Renewable Energy (DRE) solutions such as mini-grids and stand-alone solar systems.
The $40 million includes $30 million in senior equity from AfDB and $10 million in junior equity from SEFA, with the platform targeting $1 billion in capitalization over time.
“Zafiri is a catalytic platform that will drive universal energy access,” said Kevin Kariuki, AfDB Vice President for Power, Energy, Climate, and Green Growth. “It will crowd in private capital for high-impact projects.”
Digital public offerings platform launched
In Côte d’Ivoire, AfDB’s Capital Markets Development Trust Fund (CMDTF) has provided $400,000 to launch DIGIAPE, a digital platform for public offerings operated by the Central Depository/Settlement Bank (DC/BR).
DIGIAPE will automate primary market subscriptions, enable real-time securities allocation, and shorten settlement times to enhance investor confidence in the West African Monetary Union (UMOA) financial market.
“Technological innovation is crucial for efficient and transparent markets,” said Birahim Diouf, Director General of DC/BR. Ahmed Attout, AfDB’s Director for Financial Sector Development, noted that the Bank has invested more than €2 billion in UEMOA’s financial sector since 2014.
Multi-sector transformation
From clean cooking to capital markets, these initiatives highlight AfDB’s strategy to integrate energy transition, agricultural modernization, and financial innovation. Over the past five decades, the Bank has financed major infrastructure and social projects across the continent. These latest programs reaffirm its commitment to inclusive, climate-resilient growth.
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