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- African countries commit $100 billion to power industries with renewables
African countries commit $100 billion to power industries with renewables
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 | The push for green industries in Africa has gained momentum with $100 billion in funding commitments from leading financial institutions announced at the ongoing Africa Climate Summit in Ethiopia. The funds aim to speed up renewable adoption in industries set to become the backbone of Africa’s economy and a key source of jobs for its growing youth workforce. |
African leaders are meeting for the second time to develop homegrown financing solutions for climate goals, as the continent currently receives less than 4% of global climate funding, far below its needs.
With many commercial and industrial clients still locked into expensive fossil fuels, and with looming carbon taxes on exports, Africa needs a lever to drive not only industrial growth but also an expansion of export markets.
Our take: Previous initiatives failed to deliver, so we wait to see if these pledges become bankable projects… Read more (2 min)
 | Diesel and petrol prices declined marginally in September across South Africa, Nigeria, Egypt and Kenya. However, Nigeria has announced a 5% tax on fossil fuels including petrol and diesel. The act will lead to a significant increase in petrol and diesel prices, furthering the attractiveness of renewable energy solutions as cheaper substitutes. |
Electricity prices remained relatively stable in South Africa, Nigeria, Egypt and Kenya. Meanwhile, South Africa plans an 8.8% hike for next year, and Egypt an increase of at least 25% starting in October.
Every month, Renewables Rising collects publicly sourced data to monitor power price variations across the continent.
Our take: Upcoming price shifts in South Africa and Egypt will test market resilience… Read more (2 min)
 | Solar power has moved beyond just lighting homes, evolving to power tools that boost productivity in off-grid communities, writes Tamara Mahoney. We now have solar-powered appliances, such as mills, that reduce manual labour and replace diesel engines. However, the industry's growth is hampered by a lack of long-term investment. |
Tamara works as a project manager at GOGLA, the global association for the off-grid solar energy industry.
“If productive use companies were able to be financed like infrastructure rather than consumer goods, private companies could scale, customers could afford to pay for products, and impact could accelerate,” writes Ms Tamara.
Click here to read the full article… Read time (4 min)
Engie Africa connects the 75 MW Grootspruit Solar PV Facility to the grid in South Africa
Events
🗓️ Register for the Energy Forum for Africa event (Sep 10)
🗓️ Be at the 2025 International Investment Conference (Sep 23)
🗓️ Participate in the World Power-to-X Summit 2025 (Oct 1)
Jobs
💼 Become Sun King’s Area Business Manager (Uganda)
👩🏻💻 Apply for M-Kopa’s Partnership Manager position (Kenya)
👨🏻💻 Spearhead electrical engineering at Terra Firma Solutions (South Africa)
Various
⚡ Africa calls for support in accelerating its climate-resilient green shift
💡 Daystar Power selects Yischai Beinisch as new CEO to lead future growth
🤝🏻 Egypt teams up with ABB for energy efficiency through smart grid technology
Seen on LinkedIn
Ben David, Writer at the great Green Migration, says, “Unless reformed, debt-for-climate swaps risk becoming just another financial burden dressed up as climate rescue. Africa needs climate finance that empowers, not constrains.”