$1 million: Sustainable Energy Fund for Africa Grant to Drive Electric Mobility Shift in Seven African Countries

The Sustainable Energy Fund for Africa (SEFA) of the African Development Bank Group is set to provide a $1 million technical assistance grant to the Green Mobility Facility for Africa (GMFA), which provides technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions in seven countries including, Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone, and South Africa.

The SEFA grant will support the creation of an enabling environment for Electric Vehicles (EVs), the design of EV business models and guidelines for the public and private sector, the development of a bankable pipeline of e-mobility projects, regional coordination, and knowledge sharing amongst other upstream activities to help catalyze follow-on private sector financing.

Future demand for mobility solutions and vehicle ownership is expected to increase with rapid urbanization, population growth, and economic development. This calls for innovative solutions to support Africa’s to a low-carbon economy. SEFA’s technical assistance grant to the GMFA is therefore likely to have a tremendous impact by accelerating the shift to green mobility and reducing greenhouse gas emissions.

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