In reality, the continent faces a more nuanced challenge: finding a fair, gradual energy transition that matches its unique needs and ambitions. Technology and innovation can drive this change, helping secure affordable and sustainable energy for all.

In the coming decades, Africa’s population is expected to soar to nearly 2.5 billion. Cities will grow. Industries will expand. Digital connections will multiply. The demand for energy will increase significantly.

Right now, expecting Africa to abandon fossil fuels overnight is neither realistic nor fair. In the near future, fossil fuels remain crucial for base power that is reliable, and affordable. In particular, natural gas is key transition fuel that will remain the base power solution for the next decade.

Africa must not embrace renewable energy primarily when they have abundance of fossil fuel for their industrialization as other emerging and emerged nations have done. A just energy transition recognises these realities and seeks ways to build cleaner, more resilient systems over time.

Technology as the Enabler of Africa’s Energy Future

Exciting new technologies are already reshaping Africa’s energy landscape:

• Decentralised solutions, like mini-grids, off-grid solar, and batteries, bring electricity to places traditional grids can’t reach. By 2030, these distributed renewables could provide most new connections in underserved communities.
• Smart grids and AI-driven management can reduce waste. They help utilities serve people better.
• Modern batteries ensure that solar and wind energy can be delivered steadily, even when the sun isn’t shining or the wind isn’t blowing.

Decentralised approaches are essential to Africa’s path toward universal energy access. While technology is not a fix-all solution, it is a crucial enabler of efficiency, resilience, and affordability, shaping Africa’s energy future.

African entrepreneurs are leading much of this change. They’re developing solutions that meet local needs, such as pay-as-you-go solar, community-run mini-grids, and mobile payment platforms. These innovations don’t just bring power; they create jobs, build skills, and reap economic benefits for the continent.

But innovation alone isn’t enough. Investment is critical. According to the International Energy Agency, Africa needs about $90 billion annually to achieve a successful energy transition, but current funding falls short.

Governments can help by setting clear, supportive policies that attract investment and make projects more affordable. Organisations like the African Development Bank say grid investment must rise dramatically, and clean energy spending should double by 2030 to keep up with growing demand.

From Energy Access to Economic and Human Impact

Reliable energy is more than just a technical necessity – it’s what fuels industrial growth. Picture the continent’s factories buzzing with activity, transport networks connecting people and goods, and data centres powering a vibrant digital economy.

Expanding decentralised solutions brings light to places that have been left in the dark for too long. It’s about giving children a place to study at night, helping clinics store vaccines safely, and empowering entrepreneurs to launch new businesses.

Of course, none of this works in isolation. Supportive policies, strong regulations, and partnerships between governments and private companies are essential. When African countries harmonise their rules and work together, they can create bigger markets. This draws even more investment and innovation.

Ultimately, Africa’s energy transition must be shaped by Africans themselves. The path forward is about collaboration, pragmatism, and investing in homegrown solutions.

Africa’s mobile phone revolution showed the world how quickly the continent can leapfrog old systems. The same can happen with energy; by embracing flexible, tech-driven models that serve today’s and tomorrow’s needs.

Now is the time to come together to act boldly and invest in Africa’s energy future. By uniting efforts, we can turn potential into progress, ensuring resilient, inclusive, and sustainable energy for generations to come. Let’s power Africa’s future, together.

The post Driving Africa’s Fair Energy Transition Through Technology and Innovation appeared first on Tech | Business | Economy.

This puts serious weight behind its goal to become the core operating platform for decentralised power systems.

The Berlin-based company confirmed it has raised $22 million in Series A equity alongside a $1.2 billion debt facility, taking total committed capital to $1.222 billion. 

The equity round was led by MMC Ventures and QED Investors, with backing from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec and Earthshot Ventures. 

A major European bank is providing the debt to support customer and installer financing, reinforced by a €300 million guarantee from the European Investment Fund.

Cloover is responding to the high demand for home energy systems, which lack adequate machinery needed to deploy them at scale, as they are badly out of date. Installers still rely on patchy software, slow approvals and limited access to capital. 

Banks, on the other hand, are not built to finance thousands of small residential projects quickly. The result is delay, higher costs and missed opportunities.

Cloover’s model cuts through that bottleneck by placing financing inside the installer’s daily workflow. Instead of treating funding as a separate step, the platform links sales, procurement, financing and long-term energy management in one system designed specifically for distributed energy assets.

The company uses data-led credit assessments that focus on long-term energy savings, rather than relying only on standard credit scores. It also advances public subsidies upfront, so households do not have to wait months to benefit from state support. 

For investors, the platform offers exposure to a new infrastructure asset class, backed by live performance data and clear impact tracking.

“With this $1.2 billion commitment, we’re enabling households to become energy independent, without the friction of upfront costs or complex loan applications. Our AI operating system connects stakeholders across the value chain and revolutionises how energy independence becomes the new norm,” said Jodok Betschart, co-founder and chief executive of Cloover.

On the ground, installers using the platform can offer financing at the point of sale, shorten payment cycles and reduce paperwork. Cloover says its partners generate, on average, 30% additional revenue by reaching customers they previously could not serve. 

Homeowners, meanwhile, gain access to solar, batteries, heat pumps and EV charging with no heavy upfront spend, and typically cut energy bills by 20 to 30% through better system performance and financing terms.

The company’s growth numbers reveal why investors are paying attention. Cloover reports that revenue grew more than eightfold in 2025 while being profitable, nearing $100 million in sales. It is targeting $500 million in 2026 and $1 billion the year after.

That growth is being driven by the dynamism in the energy market. Electricity demand is getting higher, grids are under stress, and electric vehicles are adding new pressure points. 

With households currently seeking better management over costs and reliability, governments establish policies that favour decentralised generation.

“Cloover is not just about financing – we’re building the backbone for energy independence. We are creating the Shopify of Energy: a platform that equips manufacturers, installers, households, and investors with the tools to grow, collaborate, and deliver distributed energy at scale,” said Valentin Gönczy, co-founder and chief product officer.

Founded after extensive research with installers across Europe, Cloover was built around a simple insight: demand was not the issue, infrastructure was. 

Financing emerged as the biggest limitation, and the company set out to fix it without competing with installers themselves.

With fresh capital in place, Cloover plans to enter more European markets, including France, Italy, the UK and Austria, while expanding its product suite with solid automation and new financing tools. 

The longer-term goal is to run the digital backbone of decentralised energy, connecting households, installers, manufacturers and investors through a single platform built for scale.

The post Cloover Raises $1.2bn to Enable Residential Energy Independence appeared first on Tech | Business | Economy.

Established as a special-purpose vehicle of SMEFUNDS, CSR-in-Action Consulting and Carbon Credit Network Africa (CCNA), FuelTree builds on more than a decade of sustainability leadership, community engagement, and carbon-project development experience.

FuelTree’s flagship innovation, the Virtual Cylinder Recirculation Model (vCRM), is a digital platform that enables households to access clean cooking liquefied petroleum gas (LPG) and nutritious food while generating verifiable carbon credits under international standards such as Verra and Gold Standard.

Each participating household which switches from firewood or kerosene not only avoids around 2–3 tonnes of CO₂e emissions per year, but also plays a direct role in Nigeria’s Decade of Gas, Energy Transition Plan (ETP) and the recently approved National Carbon Market Framework, helping the nation to achieve its targets for energy access, female empowerment and job creation through sustainable value chains.

FuelTree unites some of Africa’s foremost sustainability and carbon-market innovators, including leading Nigerian sustainability champion Dr. Bekeme Masade-Olowola, former board member of the Global Reporting Initiative (GRI), and Femi Oye, an internationally recognised renewable-energy entrepreneur and member of the Verra Stakeholder Council.

CCNA is Africa’s carbon aggregator with a proven track record of successful project implementation in clean cooking, agroforestry and distributed renewables.

CSR-in-Action is a think-tank with UN status, provides institutional credibility, policy and corporate sustainability and ESG experience and SME Funds brings deep technical experience in carbon-credit project development and last-mile energy distribution.

FuelTree Limited is the engine which takes these assets from policy and potential to measurable results for Nigeria, Ghana and beyond. CSR-in-Action’s international partnerships extend through its collaboration with Carbon Direct, a U.S.-based global leader in carbon management solutions.

As reported by Carbon Herald, “Carbon Direct and CSR-in-Action have teamed up to boost decarbonization in Africa.” This alliance brings world-class scientific and financial rigour to African carbon projects, enhancing FuelTree’s credibility among investors, regulators, and standard-setters.

“FuelTree represents a new era of African-led climate innovation, where we don’t just talk about transition; we build it, measure it, and make it profitable,” said Dr. Bekeme Masade-Olowola, Managing Director of FuelTree. “Our mission is to create millions of clean-energy households while driving measurable carbon revenue and inclusive prosperity.”

Mr. Femi Oye, CTO and renewable-energy pioneer, added: “Through FuelTree’s vCRM, we are digitising every tonne of avoided emissions; ensuring Africa’s carbon assets are traceable, tradable, and beneficial to local communities.”

FuelTree’s integrated model directly supports COP30’s thematic priorities, Energy Transition, Carbon Markets, and Food Systems, by connecting government, private sector, and communities in a transparent digital ecosystem.

Within its first phase, the company targets 100,000 households, scaling up to 10 million by 2030, unlocking significant carbon-credit revenues and socio-economic benefits.

The post FuelTree Launches to Accelerate Africa’s Clean Energy and Carbon Future appeared first on Tech | Business | Economy.

The event which was held at the Iris Hall in Eko Hotel & Suites, Lagos was centred around the theme ‘Energy Transition: Identifying the need and financing the opportunities’.

The gathering brought together a diverse group of industry leaders, experts, and stakeholders as they engaged in meaningful discussions, shared insights, and explored innovative strategies for identifying the needs related to energy transition and the various opportunities available for financing these endeavours.

This session underscored the importance of collaborative efforts in making energy transition a reality; highlighting the pivotal role of financing in achieving sustainable energy solutions.

Commenting on the session, Wole Adeniyi, chief executive, Stanbic IBTC Bank, highlighted the importance of collaboration between Nigeria and South Africa in achieving sustainable economic growth and development.

He emphasised the role of the financial sector in supporting cross-border investments and facilitating business transactions that are crucial for Africa’s economic integration.

“This is a significant step towards a future where Nigeria and South Africa leverage their collective strengths for the betterment of our continent. By joining forces, we position ourselves to address challenges with greater efficacy and to tap into the boundless opportunities that Africa holds; aiming for the prosperity of our populations. This collaborative spirit is not just about overcoming hurdles; it is about rewriting the narrative of our continent to highlight success, innovation, and sustainable growth.” Wole remarked.

According to Wole, the role of the financial sector in supporting cross-border investments and facilitating business transactions that are crucial for Africa’s economic integration and Stanbic IBTC pledges to be at the vanguard of this transformative era.

“We are committed to delivering state-of-the-art financial solutions tailored to nurture the growth and triumph of businesses within both countries. Our mission extends beyond mere financial transactions; it is about building bridges between markets, fostering economic integration, and laying the groundwork for a future where the African continent can realise its full potential through unity and shared vision.”

Adebola Seriki, sector head of Conglomerates & Industrials, Corporate & Investment Banking; and Richard Inegbedion, Sector Head of Energy & Infrastructure, Business & Commercial Clients, both of Stanbic IBTC Bank shared an extensive analysis of the energy sector’s status quo and prospective evolution, particularly on renewable energy, addressing the electrification challenges and opportunities in Africa as of 2023.

The session presented crucial data, indicating Africa’s population at approximately 220 million in 2023, with an annual growth rate of 2.53 per cent.

The disparity in electricity access is stark, with only 60 per cent of the populace having access; highlighting a pronounced urban-rural divide.

The electricity generation capacity of 12.5GW starkly contrasts with the mere 5.1GW effectively available; pinpointing a critical gap due to infrastructural inefficiencies. The energy sector’s heavy reliance on oil and gas, accounting for 81 per cent, with renewables at just 19 per cent, emphasises the pressing need for a diversified and sustainable energy portfolio.

The discussions at the breakfast session also highlighted the acute electricity and clean cooking facilities shortage, affecting over 500 million and 1 billion Africans, respectively.

The renewable energy sector emerges as a promising avenue for substantial job creation, with projections indicating the potential to generate over 4 million jobs by 2030.

The advocacy for decentralised energy solutions, like mini-grids and solar home systems, highlights their cost-effectiveness in broadening electricity access.

A significant focus was placed on the essential role of financing in realising the vision of universal energy access.

The discourse highlighted the role of commercial banks in channelling capital towards renewable energy projects and the necessity for collaboration between the public and private sectors to facilitate this transition.

Stanbic IBTC Bank’s introduction of a novel financing scheme for developers involved in the World Bank-funded Rural Electrification Agency’s DARES programme marks a significant stride towards supporting renewable energy projects, including mini-grids and stand-alone solar systems. This initiative is evidence of the collective commitment to driving a sustainable energy transition in Africa.

The NSACC September Breakfast Session highlighted the critical challenges facing Africa’s energy sector and illuminated the path towards a just and inclusive energy transition.

By leveraging investment, innovation, and supportive policies, and capitalising on the continent’s vast renewable energy potential, Africa can embark on a journey towards sustainable development and energy security for all its citizens.

The post Stanbic IBTC Spearheading Renewable Energy Innovation appeared first on Tech | Business | Economy.

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According to leading lifestyle magazines and spiritual gurus, 2023 is a year for self-reflection, intuition and analytical enlightenment. It also marks 16 years since South Africans first experienced loadshedding – an unwelcome and common occurrence that continues to this day.

Over the next 15 years, South Africa will need to install at least 50GW of generation capacity to achieve energy security.

According to calculations by industry analysts, this will require an estimated R1.2 trillion in investment before 2035 to mitigate the energy crisis.

Considering the urgency of this issue and its impact on the wellbeing of both consumers and the economy at large, it might be time for South Africans to take 2023’s symbolism to heart.

Now, more than ever, it is time for energy stakeholders to review the merits of the country’s past capital-raising efforts and explore new approaches towards achieving this 15-year investment goal.

This need for reflection comes as the recent escalation in rolling blackouts adds immeasurable pressure on economic development, creating a domino effect on employment, poverty, and climate change.

According to energy experts, the recent prolonging of Stage 6 load shedding has already caused significant damage to the country’s economy, with over R4 billion wiped from the national coffers for each day it continues.

In an attempt to mitigate this impact, South African officials have investigated the potential of expanding the country’s fleet of coal power stations.

Yet, with South Africa ranking among the top 20 highest emitters of greenhouse gases and nearly a third of all of Africa’s emissions – and amid the global shift to clean, green and renewable energy – a new path has been forged: that of a Just Energy Transition (JET).

In colloquial terms, JET seeks to introduce modern and efficient energy-generation capabilities to the national grid, while simultaneously minimising the social and environmental impact that power production can have on the health and livelihoods of both communities and wildlife.

Or as President Cyril Ramaphosa put it: “It is about addressing the global risks of climate change while creating jobs and driving more rapid and inclusive economic growth.”

To date, South Africa has received widespread praise for its plans to achieve JET, with global commentators applauding the President’s framework which outlines the various principles to guide the transition, and policies and governance arrangements to give effect to the transition from an economy that is predominantly reliant on fossil fuel-based energy, towards a low-emissions and climate-resilient economy. However, this does not mean that the road towards sustainable and inclusive carbon neutrality will be an easy one.

Among the most obvious challenges are the expenses associated with renewable energy, however, equally as important are issues around trust, which must be developed between public and private actors; the need for the redress of policy obstacles that slow the pace of clean energy production; and most importantly, how the process can account for South Africa’s ‘coal communities’ who depend on the energy resources for income amid high levels of unemployment and poverty.

Exacerbated by the ongoing energy crisis, South Africa’s goal of achieving JET is, then, a complex endeavour – but one that offers a great opportunity for collaboration. And it is in this vein that local stakeholders should recognise the significant role that international organisations can play towards providing a gateway to global knowledge, resources, networks and innovations – vital resources on the journey towards sustainability in the energy sector.

By their very nature, international organisations represent a distinct break from the national norm and unlock a unique set of opportunities to help address many challenges facing JET.

For example, to help stakeholders access global knowledge best practices, organisations such as Innovate UK KTN, who is currently delivering the Global Alliance Africa (GAA) – a six-year project funded by UK Aid – have curated a Global Innovation Network; a UK-African community where researchers, funders and innovators in the energy space can come together, to explore solutions that seek to solve critical energy shortages using technology and innovation.

Through regular engagements, this network of energy specialists and industry stakeholders provides insight into the current climate; gives advice on how to overcome obstacles impeding implementation; and works to identify ‘needle-moving’ projects with the potential to drive change within the industry.

To date, these engagements have already identified key focus points for programme exploration, including green fuels and their applications, as well as an exploration into transition metals, export versus local usage of energy, and enterprise development.

What’s more, global networks are an important resource for national firms, who are often only exposed to local problems, opportunities, and partners.

By assisting local actors to access new knowledge, technologies and mindsets, they support efforts aimed at exploring different pathways to JET, as well as different ways of thinking about the industry more generally.

This is further supported by access to new funding opportunities, which are key considering the high costs associated with renewable energy generation.

At the end of the day, international organisations facilitate a level of resource mobilisation that national actors cannot achieve on their own, making them a key component to support the planning, implementation, and monitoring of just and inclusive energy transitions. And with no immediate solutions to South Africa ’s energy crisis, the sooner these global actors are involved in the process, the better.

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