Zimbabwe unveils a bold bid to end power shortages

June 05, 2025

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The southern African country has unveiled a plan to raise at least $9 billion to more than double its current generation capacity with renewables. The initiative, part of the World Bank's Mission 300, seeks substantial private investment to tackle the country’s severe “load shedding” that has hit it hard in the past few years, often lasting up to 18 hours a day.

  • Zimbabwe is seeking the majority of its new funding from private investors since it previously defaulted on loans from multilateral lenders, including the World Bank.

  • The country badly needs more electricity — 38% of the population is unconnected. The World Bank estimates that power shortages cost it 6% of GDP.

  • Our take: Zimbabwe offers energy investment opportunities in the mining sector, and investors may prefer direct power supply to industries as opposed to the government… Read more (2 min)

May funding was dominated by the private sector, which accounted for more than 90% of the total. Chinese companies invested $460 million in solar cell manufacturing in Ethiopia. Meanwhile, development banks like the World Bank and AfDB, alongside commercial banks such as Standard Bank, contributed substantial funds for the third consecutive month.

  • The analysis is based on data collected by Renewables Rising. Energy companies TAQA Morocco and Nareva are collaborating with the Mohammed VI Investment Fund and the UAE government in a public-private partnership to invest $14 billion in energy and water in Morocco.

  • A private equity fund, The Emerging Africa and Asia Fund, raised $325 million, bringing their total assets to $620 million. It was mainly funded by Allianz Global Investors, South Africa's Absa Group, and Standard Bank Group.

  • Our take: Development finance institutions are especially valuable when they help to de-risk private investments… Read more (2 min)

In the past week, South Africa has shown momentum in renewables project announcements and hiring for energy professionals. Notably, the country recently awarded bids for five Battery Energy Storage System projects totalling 616 MW. In contrast, hiring activity in North and East Africa has slowed, while recruitment in West Africa remains modest.

  • Solar technology experts are the most sought-after professionals across the continent. According to our data, the majority of renewable energy funding in May was directed toward solar projects.

  • This week’s 100+ job board predominantly features large-scale project-adjacent roles, including project controllers, finance managers and technicians. 

  • Find your next role here…(2 min)

GIZ Kenya partners with Apstar DT SACCO for affordable solar and electric cooking technologies

 

Events

🗓️ Register for the Open Source in Energy Access Symposium (Jun 11)

🗓️ Participate in the Kenya SEPL Expo 2025 (Jun 14)

🗓️ Learn about finance essentials for renewable energy projects (Jun 30)

Various 

⚡ Ivory Coast invites bids for 200 MW solar projects with battery storage

💸 Nigeria establishes TIF fund for  transmission infrastructure projects

♻️ Ener-G-Africa inaugurates clean cookstove & solar retail outlets in Zambia

Seen on LinkedIn 

Mary Njuguna, Production Sync Engineer at Savanna Circuit, says, “In my work bringing renewable energy to rural agri-based communities, one thing is clear: People don’t resist clean energy, they simply can’t afford to be let down by it.”