During 2022, the EEP Africa Trust Fund celebrated the successful completion of 12 projects, engaged new implementation support partners and welcomed both the Ministry for Foreign Affairs of Denmark and the Ministry for Foreign Affairs of Iceland as new donors.
The Annual Report 2022 presents impact stories from the EEP Africa portfolio and highlights of the fund activities over the past year. During 2022, 12 grantees completed their projects bringing the active portfolio down to 40 projects that continued into 2023. Most projects in the portfolio are expected to conclude in 2023, making way for the intake of new projects at the end of the year. The Annual Report 2022 features impact stories about SokoFresh, Hanny G, Sistema.bio, EcoZoom, Wala, and Gommyr Power.
In 2022, EEP Africa’s grantees produced a number of results including over 2,800 jobs created, 145,700 people with enhanced energy access and 208,000 tC02e GHG emissions reduced or avoided. Grantees also had a number of other achievements, such as raising follow-on financing and being recognised with awards for their work in the sector.
Each year EEP Africa recognizes outstanding projects and inspiring youth within the portfolio. In March 2023 the 2022 Projects of the Year and Rising Energy Leaders were selected and celebrated. The Project of the Year award was presented to Mobility for Africa in the Scale Up category, and to Millennium Engineers in the Start Up category. This year Felix Boldt, Founder and CEO of Solarworx, and Rethabile Mafura, Country Director for African Clean Energy Lesotho, were recognised as Rising Energy Leaders.
This year was a year of reflection and new beginnings, with a review of internal processes and practices to improve the future effectiveness of the fund. New implementation support partners joined EEP Africa mid-year from SNV and Open Capital to help undertake this work.
One of the main benefits of the refreshed team has been a greater proximity to our grantees in the Eastern and Southern Africa, as well as the enhanced business development and sector expertise that is a necessary to complement EEP Africa’s grant financing. – Jussi Viding, Fund Manager for EEP Africa, Nordic Development Fund
Last year the fund was supported financially by old and new donors alike. Iceland joined the fund in May, followed by Denmark in December. Austria and Finland have recently renewed their commitments to the fund over the years to come. The fundraising success has helped to secure the continuation of EEP Africa’s annual call for proposals in the next few years, starting with the 2023 call for proposals currently in preparation for a September Investment Committee meeting.
Read more about our portfolio and activities in the EEP Africa Trust Fund Annual Report 2022.
EEP Africa is a clean energy financing facility hosted and managed by the Nordic Development Fund (NDF). It is currently funded by the Austrian Development Agency, Ministry for Foreign Affairs of Denmark, Ministry for Foreign Affairs of Finland, Ministry for Foreign Affairs of Iceland, NDF, and the Swiss Agency for Development and Cooperation.