The Fund will deploy up to 50% of commitments to South Africa, Botswana and Namibia. The other 50% is to be invested in other Sub Saharan African countries with the primary targets being Ethiopia, Ghana, Kenya, Mozambique, Nigeria, Tanzania, Uganda and Zambia.
Energy is scarce across Sub Saharan Africa, and energy that is produced sustainably is even scarcer. While some populations suffer power interruptions, others are worse off, with a large share of the population being deprived from access to energy altogether. According to the International Energy Agency, Sub Saharan Africa accounts for more than 50% of the world’s population that lives without access to electricity. Indeed, Sub Saharan Africa has the lowest electrification rate in the world, with only a 32% (percentage of population) access to electricity rate. The energy dearth is particularly pronounced in rural Sub Saharan Africa, where only 17% of the population have access to electricity.
The Fund will be managed by Inspired Evolution Investment Management.