Stichting Clean Energy and Energy Inclusion for Africa
Fund Overview
Total Assets under Management:
CEI Africa was established on KfW’s initiative, on behalf of the German Federal Ministry for Economic Cooperation and Development, in 2021 and started its operations in 2022. In 2022, the Swiss Development Cooperation joined CEI Africa to support the SOF Component. It was established for a limited term, i.e. until 2038, which allows it to offer patient capital and have a long-term view on and contribution to the nascent off-grid sector development in Sub-Saharan Africa. CEI Africa Foundation provides financing to off-grid energy companies and green mini-grid developers facilitating the expansion of clean renewable energy solutions in Sub-Saharan Africa. CEI Africa’s mission is to improve access to affordable clean energy through four main impact objectives:
- increasing access to finance for Africa’s emerging off-grid energy-access businesses;
- expanding off-grid renewable energy providers and solutions,
- increasing renewable energy access for MSMEs and households;
- additional economic, social and environmental benefits resulting from energy access.
Regions in which we are active
Impact Themes
Track Record
3.5 years
Key Achievements
The CL Window has entered into partnership with the largest European crowdlender platforms and engaged in debt and equity transactions, aiming to catalyze private capital into the off-grid energy sector. The RBF Component, after only one year of launching, committed all its funds, estimated to provide access to electricity to more than 200.000 people. Lastly, the SOF Component approved grants for nearly 9.000 productive use equipment, estimating to benefit more than 250.000 people. More information about the latest transactions can be found at: https://cei-africa.com/news-and-insights/. On the fundraising side, after 2 years since its incorporation, KfW, the incorporator of the Foundation, provided an additional grant of EUR 24.5 million; and the Swiss Agency for Development Cooperation provided a top-up of CHF 4 million.
Fund Status
KfW (BMZ), and SDC.
Operational Details
Team Composition
CEI Africa is managed by Triple Jump, which is supported by Persistent Energy Capital and GreenMax Capital Group. Triple Jump is an impact investment manager with 16 years of track record. Persistent Energy Capital is a climate venture builder and pioneer investors in the Clean Tech sector in Sub-Saharan Africa. GreenMax Capital Group is an investment advisory and management consulting group established in 1994.
Monitoring, Evaluation and Reporting
CEI Africa must submit quarterly financial and portfolio reports to its funders (KfW and SDC). Additionally, the legal agreements with KfW and SDC include results targets for the use of the grants provided for CEI Africa.
CEI Africa has its own results matrix to measure impact, which was established by its funders KfW and SDC.
Quarterly financial and portfolio monitoring; and annual impact monitoring.