Galvanising Investments in Africa Through the APRA Forum in Nairobi
Newsletter
Project developers in APRA countries* are encouraged to apply for inclusion at the Forum
Under the auspices of the Accelerated Partnership for Renewables in Africa (APRA), Kenya and the International Renewable Energy Agency (IRENA), in coordination with other APRA members and partners, will convene an investment forum on 12-16 October 2024.
The forum, held under the patronage of President William Ruto of Kenya, will connect project developers with investors and financial institutions to facilitate investment opportunities in renewable energy and wider supply chain projects in APRA member countries.
Developers working or planning to work on such projects in APRA member countries are encouraged to apply for inclusion in the Forum. Selected projects will gain exclusive access to matchmaking activities that will connect them with investors and financial institutions, potentially opening up funding opportunities.
An IRENA analysis, published under the request of the Italian G7 Presidency, underscored that the flow of public finance into the African energy sector has declined, and the necessary conditions for low-cost finance are largely not in place. This must be reversed. In a communiqué from the G7 Ministers’ Meeting on Climate, Energy, and Environment, the group acknowledged the urgent need to increase efforts in Africa through mutually beneficial partnerships and committed to supporting APRA.
In this context, while offering a platform for enhanced dialogue among governments, investors and financiers, for creating conducive investment environment for renewables-based energy transition, the APRA Investment Forum will also focus on green industrialisation outlined in the Nairobi Declaration, including critical topics such as energy infrastructure, private sector engagement, supply chain development, local value creation and skills (youth in particular), along with concrete strategies to address these priorities.
The APRA Investment Forum in Kenya will also discuss avenues to lower the barriers to scaling up investment, including policy and regulatory frameworks, innovations, guarantees, and mechanisms to de-risk projects, reduce the cost of capital and facilitate access to finance. Capacity building and technical support sessions will also be organized on the margins of the forum to leverage the presence of diverse stakeholders.
Submit your project for consideration at the APRA Investment Forum here.
*Currently, APRA's members include Kenya, Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone and Zimbabwe with Denmark, Germany, UAE and US supporting the Partnership and IRENA fulfilling the secretariat role.
