Africa-Press – Malawi. The Common Market for Eastern and Southern Africa (COMESA), in partnership with the World Bank, has launched the ASCENT Project Preparation Facility (PPF), a USD 25 million initiative designed to fast-track renewable electrification across Eastern and Southern Africa.
The facility was officially unveiled on the sidelines of the EAIF 2026 in Nairobi, Kenya, marking a strategic push to position COMESA at the centre of Africa’s clean energy transition.
Speaking at the launch, COMESA Assistant Secretary General in charge of Programmes, Dr Mohamed Kadah, said the facility is aimed at strengthening the early stages of energy project development to ensure they are investment-ready.
“The ASCENT Project Preparation Facility is designed to strengthen the technical and financial structuring of projects and prepare them to meet investor and lender requirements, ultimately unlocking capital at scale,” Dr Kadah said.
He added that the initiative is a major step toward ensuring that renewable energy projects in the region are not only innovative but also commercially viable and bankable.
“By supporting developers with technical expertise and aligning projects with international financing standards, ASCENT will help drive investment into clean energy solutions that deliver lasting social and economic benefits,” he said.
Dr Kadah further noted that the facility will strengthen the pipeline of viable energy projects, attract private sector investment, and contribute to inclusive growth and climate resilience across member states.
To support implementation, Cygnum Capital has been appointed as Fund Manager. The firm will oversee project preparation, provide technical and financial advisory services, and ensure all supported initiatives meet international investment standards.
The ASCENT PPF is expected to serve as a catalyst for clean energy development by bridging the gap between project ideas and actual financing. It will support developers with technical expertise, improve project structuring, and enhance the bankability of renewable energy initiatives.
Key focus areas include expanding access to clean electricity, promoting productive use of power in agriculture, industry, and commerce, and accelerating the region’s transition toward green energy systems.
The launch has taken place during EAIF 2026, which has gathered governments, financiers, innovators, and private sector stakeholders to explore partnerships in renewable electrification, industrial energy solutions, and broader green transition efforts.
The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Programme remains COMESA’s flagship initiative, aimed at expanding access to affordable, reliable, and sustainable energy while mobilizing investment and driving innovation across the region.
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