AfDB Launches $10 Million Initiative to Boost Climate Tech in Sub-Saharan Africa
The African Development Bank (AfDB) has made a groundbreaking $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund). This initiative seeks to accelerate climate technology entrepreneurship across Sub-Saharan Africa, potentially unlocking up to $70 million in funding for climate-focused ventures. The ACV Fund will target early-stage businesses in key sectors, including solar energy, energy efficiency, electric mobility, agricultural technology, and the circular economy.