GJO & PartnersInvest Matching

Energy funding in Africa: investors, tickets and countries

Who finances Energy in Africa, where, at which stage and with which tickets: every figure below is computed from the funding deals recorded on the platform.

121

deals recorded

43

over 12 months

10 M$

median disclosed ticket

102

identified investors

Key findings

  • 121 funding deals recorded (Energy) since 2005, involving 100 companies and 102 identified investors. 43 of them over the last 12 months (34 the previous year).
  • Median disclosed ticket: 10 M$; half of the deals fall between 5 M$ and 50 M$ (76 amounts disclosed out of 121, 4.3 bn $ in total).
  • Where the money goes: Kenya (31 %), Nigeria (23 %), South Africa (17 %).
  • Most frequent stage: Growth (43 %); most used instrument: Equity (49 %).
  • Most active investors: Helios Investment Partners (8), A.P. Moller Capital (7), Actis (6).
  • 24 % of deals are syndicated (at least two investors around the table).

Countries

  • Kenya37
  • Nigeria28
  • South Africa20
  • Côte d'Ivoire6
  • Ghana5

Industries

  • Electric mobility24
  • Off-grid solar and solar kits20
  • Commercial & industrial energy15
  • Wind, hydro, geothermal and biogas14
  • Power generation (utility-scale)9

Stages

  • Growth52
  • Debt24
  • Seed10
  • Series A6
  • Pre-Seed4

Instruments

  • Equity59
  • Senior debt30
  • Mezzanine debt3
  • Quasi-equity3
  • Grant2

Deals per year

YearDealsDisclosed amounts
20214—
2022980.7 M$
202337 M$
2024860.3 M$
2025422.1 bn $
202631731.4 M$

Most active investors

Latest deals

CompanyDateDisclosed amountsLead
SunCultureProductive use: solar cooling and pumping · Kenya · DebtSept 202610 M$Mirova Natural Capitalsource
Sun King (Zambie)Off-grid solar and solar kits · Zambia · GrowthSept 20265 M$Acumensource
SpiroElectric mobility · Kenya · DebtSept 202618 M$Africa Go Green Fund (AGG)source
ARC RideElectric mobility · Kenya · DebtSept 202633.3 M$Novastar Venturessource
Arc Ride LtdElectric mobility · KenyaSept 2026undisclosedProparcosource
EV.TechElectric mobility · Côte d'Ivoire · GrowthAug 2026undisclosedEnko Capitalsource
M-KOPA KenyaElectric mobility · Kenya · DebtJul 202630 M$FMOsource
SpiroElectric mobility · Kenya · GrowthJun 202655 M$NewTrails Capitalsource
ZimiElectric mobility · South AfricaJun 20262.6 M$Development Bank of Southern Africasource
First ElectricCommercial & industrial energy · Nigeria · GrowthJun 2026357 k$Cascadorsource
KoolboksProductive use: solar cooling and pumping · Nigeria · GrowthJun 20261.4 M$Cascadorsource
PowerstoveClean cooking · Nigeria · GrowthJun 20261.2 M$Cascadorsource
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See also

Method: published funding deals (press releases, specialised media), recorded by Invest Matching's news monitoring and reviewed before integration. Amounts in US dollars; deals without a disclosed amount count in the totals, not in the medians.