By Brighton Tchongwe
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 aimed at accelerating renewable electrification across Eastern and Southern Africa.
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The facility was unveiled on the sidelines of the EAIF 2026 in Nairobi, Kenya, positioning COMESA at the forefront of Africa’s energy transformation agenda.
The ASCENT PPF is designed to act as a catalyst for clean energy development by providing technical assistance to project developers, ensuring that energy access initiatives are well-structured and bankable, and bridging the gap between project ideas and investment.
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The facility is expected to unlock high-impact projects that expand access to clean energy, promote productive use of electricity in sectors such as agriculture, industry, and commerce, and accelerate the region’s transition to green energy.
Its key objectives include supporting developers with technical expertise to prepare strong proposals, mobilizing investment by aligning projects with international financing standards, and advancing regional electrification through sustainable solutions that deliver long-term social and economic benefits.
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Speaking during the launch, COMESA Assistant Secretary General in charge of Programmes, Dr Mohamed Kadah, said the facility would play a critical role in early-stage project development.
“The ASCENT Project Preparation Facility is designed to strengthen technical and financial structuring of projects and prepare them to meet investor and lender requirements, ultimately unlocking capital at scale,” said Kadah.
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Kadah added that the initiative marks a significant step in ensuring renewable energy projects across the region are not only innovative but also commercially viable.
“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 added.
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He further described the facility as a milestone in advancing Africa’s energy transition, noting that it will strengthen the pipeline of viable projects, attract private sector investment, and contribute to inclusive growth and climate resilience.
To ensure effective implementation, Cygnum Capital has been appointed as the Fund Manager. The firm will oversee the development of bankable projects, provide technical and financial advisory services, and ensure supported initiatives meet international standards.
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The launch at EAIF 2026, running from April 21 to 24, has brought together governments, financiers, innovators, and private sector players to forge partnerships that advance renewable electrification, commercial and industrial power solutions, and the broader green energy transition.
COMESA is a regional economic community comprising 21 member states, promoting integration through trade, investment, and sustainable development, with a strong focus on energy access, climate resilience, and inclusive growth.
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The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Programme is COMESA’s flagship initiative aimed at expanding access to affordable, reliable, and sustainable energy while catalyzing investment and fostering innovation in clean energy solutions across the region.
