COMESA to launch $25 million ASCENT project preparation facility at investment forum in Nairobi

The Common Market for Eastern and Southern Africa (COMESA) will launch the ASCENT Project Preparation Facility (PPF), a US$25 million World Bank–funded initiative aimed at boosting renewable electrification across the region, during the 2026 Energy Access Investment Forum (EAIF) at Safari Park Hotel in Nairobi, Kenya. The ASCENT PPF is designed to strengthen the pipeline of clean energy projects by offering technical support to developers and ensuring that proposed initiatives are well structured, bankable and ready for financing. Mohamed Kadah, the Assistant Secretary General in charge of Programmes, will officiate the launch.

He said the facility was strategically positioned to unlock investment in renewable energy, stimulate productive energy use and accelerate the region’s green transition. Kadah noted that the PPF would bridge the gap between ideas and investment by enabling the preparation of high-impact energy access projects capable of attracting financing for expansion into communities and critical sectors. To ensure effective delivery, Kadah confirmed the appointment of Cygnum Capital as the Fund Manager for the ASCENT PPF.

The firm will oversee the development of a portfolio of bankable projects across Eastern and Southern Africa. He said the firm would provide technical and financial advisory services while ensuring that supported projects met international quality and investment standards. The PPF is also expected to accelerate regional electrification by supporting renewable energy solutions that deliver long-term social and economic benefits.

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Kadah said the launch at EAIF 2026, scheduled for 21–24 April, positions COMESA at the forefront of Africa’s energy transition agenda. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

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