Investment Forums in Eastern Africa

Eastern Africa has shown the continent’s fastest growth in recent years, with aggregate GDP growth of 46% over the 2009-2018 period. While energy needs rise in step with the population, over half of the region’s people continue to lack modern electricity access. Much of the primary energy supply in Eastern Africa comes from traditional, unsustainable combustion of biomass.

With accelerated investments, the region could meet nearly a quarter of its energy needs from clean, modern renewable energy sources by 2030. National energy plans need to be amended and stable policy frameworks must be established to attract the private sector and spur investments in renewables.

The Eastern Africa Investment Forum aims to scale up renewable energy investments in the region, support project development and implementation, and contribute to the creation of policy and regulatory frameworks conducive to renewable energy investments.

The regional forum is part of IRENA’s contribution to the Climate Investment Platform (CIP), which aims to advance sustainable energy projects to investment maturity and facilitate their access to finance.

Key forum activities include matchmaking between projects, project developers, and potential financiers and investors. Renewable energy projects, along with renewable-based electricity grid and energy efficiency projects, may be considered for support.