COMESA unveils facility to boost access to electricity
WANGARI NDIRANGU-KNA
The Common Market for Eastern and Southern Africa (COMESA) has launched a Project Preparation Facility (PPF) aimed at fast-tracking access to electricity and clean cooking solutions across the region.
The facility, supported by the World Bank, falls under the USD5 billion Acceleration of Sustainable and Clean Energy Access Transformation (ASCENT) programme, which aims to connect 100 million people in Eastern and Southern Africa to electricity.
The PPF will support governments and private sector players to develop bankable, investment-ready energy projects through a demand-driven approach.
Speaking at the Alliance for Rural Electrification (ARE) Energy Access Investment Forum 2026, COMESA Assistant Secretary General Amb. Dr Mohammed Kadah said millions of people in the region still lack reliable electricity, while many households depend on traditional biomass for cooking, posing serious health and environmental risks.
He noted that although solutions such as distributed renewable energy and clean cooking technologies exist, many projects fail to reach bankability due to gaps in preparation, including technical structuring, financial modelling and risk allocation.
The facility will address these challenges by supporting project design and structuring to meet the standards required by public and private financiers, including development finance institutions and commercial investors.
Dr Kadah said the initiative marks a significant step in building a strong pipeline of bankable projects capable of attracting private investment and delivering impact at scale.
He called on governments, developers, financial institutions and development partners to collaborate in creating an enabling environment and scaling up investment-ready energy projects.
ASCENT Technical Manager Ahid Maeresera said small and medium-sized companies often struggle to access financing due to limited capacity in project preparation, particularly in environmental, social and financial requirements.
“Smaller companies are the ones missing out on financing because they lack the capacity for project preparation—whether in legal, environmental and social compliance, or financial structuring and modelling. We want to support these companies,” he said.
Mr Maeresera added that World Bank financing can be channelled directly to companies or through financial institutions, alongside technical assistance where needed.
The programme is supported by the World Bank through the International Development Association (IDA), which provides concessional financing to low-income countries.
Additional partners are expected to mobilise a further USD 10 billion, bringing the total investment package under ASCENT to about USD 15 billion.