Sustainable Energy Fund for Africa Annual Report 2020: building foundations for success
The Sustainable Energy Fund for Africa (SEFA) approved seven high-impact projects worth $54 million in 2020, its best year in spite of challenging Covid-19 conditions, according to its recently released 2020 Annual Report. SEFA, managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency investments. The Fund, founded in 2011, transformed into a Special Fund on 31 October 2019. The report, titled Building Foundations for Success, also details the Fund’s success in attracting increased donor funding. SEFA secured commitments worth $90 million from existing and new donors in the year, including from the German Ministry for Development Cooperation and the Nordic Development Fund, both of which joined SEFA in 2020. The report covers four key areas: strategic priorities and instruments; key achievements in 2020, providing an overview of SEFA’s legacy (2012-2019) portfolio, and looking ahead to SEFA’s key priorities for 2021 and beyond to transform SEFA into the leading catalytic finance facility in the sustainable energy space for the African continent.