The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has intensified its commitment to advancing sustainable development across the continent with a $10 million concessional equity investment in the ARM-Harith Successor Infrastructure Equity Fund and an additional $10 million equity investment in the Persistent Africa Climate Venture Builder Fund (ACV Fund).
The ARM-Harith investment aims to enhance access to reliable electricity, modern transportation infrastructure, and energy-efficient technologies in Nigeria and the broader West African region. With a target of raising $200 million, the fund seeks to attract capital from both local and international investors to drive energy transition and infrastructure projects, with a significant focus on Nigeria.
Managed by ARM-Harith Infrastructure Investments Limited (ARMHIIL), the fund addresses the region’s critical shortage of equity financing for infrastructure projects. By raising capital in both US dollars and Naira, it is set to appeal to diverse investor bases, including local pension funds, thereby maximizing its impact. This initiative builds on the success of ARMHIIL’s inaugural fund, which also received catalytic support from the African Development Bank in 2015.
The ARM-Harith Successor Infrastructure Equity Fund is projected to deliver tangible environmental, economic, and social benefits, including the addition of 200 MW of renewable energy capacity, a reduction of 800,000 tons of CO₂ emissions, job creation for 10,000 people, and improved energy access for 100,000 households.
These investments align with the Bank’s High Five priorities—particularly Light Up and Power Africa, Industrialize Africa, and Improve the Quality of Life for the People of Africa. They also support the Bank’s New Deal on Energy for Africa, Climate Change and Green Growth Action Plan (2021–2025), and the Mission 300 (M300) initiative, which aims to provide electricity to 300 million Africans by 2030.
Through these strategic investments, the African Development Bank reinforces its role as a key driver of sustainable infrastructure, energy transition, and climate resilience in Africa.
