The Sustainable Energy Fund for Africa (SEFA) has disclosed it is providing a $1 million technical assistance grant to the Green Mobility Facility for Africa (GMFA).
GMFA provides technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions in seven countries: Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone, and South Africa.
The SEFA grant will support the creation of an enabling environment for Electric vehicles (EVs), the design of EV business models and guidelines for the public and private sectors, the development of a bankable pipeline of e-mobility projects, regional coordination, and knowledge-sharing amongst other upstream activities to help catalyse follow-on private sector financing during the subsequent investment phase of the GMFA.
Nnenna Nwabufo the Director-General of the Bank’s East Africa Regional Development and Business Delivery Office said, “Mobility is a fundamental lifeline that connects people to critical services, jobs, education, and opportunities. The African Development Bank is committed to building a sustainable and more climate-resilient future by catalysing private investment in low-carbon solutions. We believe GMFA will have a tremendous impact on the African market by accelerating the shift to green mobility, reducing over 2,175,000 carbon dioxide equivalent tons of greenhouse gas emissions and facilitating the creation of 19,000 full-time jobs.”
“Future demand for mobility solutions and vehicle ownership is expected to increase with rapid urbanisation, population growth, and economic development. We are delighted to receive this support from AfDB. We see this as a vote of confidence in our efforts to shift to e-mobility solutions and advance Rwanda’s transition to a low-carbon economy,” said Clare Akamanzi, Chief Executive Officer of the Rwanda Development Board. Rwanda is one of seven pilot countries for GMFA.
