The Sustainable Energy Fund for Africa (SEFA) and its partners have launched a competition to link entrepreneurs, clean energy projects and investors in Africa: the Africa Forum for Clean Energy Financing (AFRICEF-3) Business Plan Competition.
The aim of the competition is to identify and nurture entrepreneurs, start-ups and existing companies with green ambitions in Africa, and serve as a conduit between them and financiers. To be considered, projects must promote clean energy technologies, products or services. With the Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) as lead sponsor, the financing forum will present promising clean energy projects from around the continent to an audience of Africa’s leading investors.
The forum partners have just launched the call for proposals for innovative projects and businesses located in southern, eastern and central Africa that require initial private capital in excess of US $1 million. The competition will roll out in phases. First, projects will be short-listed and receive coaching from professional experts, who will help them create financially, socially and environmentally viable business plans. After the coaching process, a panel of judges – investors, industry specialists and business executives – will select 10 finalists. Those finalists will attend and present their plans at the financing forum in Johannesburg on November 13, 2014.
The AFRICEF-3 Awards will be bestowed upon three winners, who will receive intensive one-on-one coaching on how to develop their business plans and bring them to financial close, accessing investors and, ultimately, on attracting financing. The projects will be showcased at other forums and events of the sponsors and co-organizers and will continue to receive support in promoting their business plans and securing investment. This is the 3rd Forum for Clean Energy Financing to be held for Africa. Last year, SEFA and its partners launched a similar business plan competition for West Africa – the West Africa Forum for Clean Energy Financing (WAFCEF).
CTI PFAN is sponsoring AFRICEF-3 along with the US Agency for International Development (USAID) and the Renewable Energy & Energy Efficiency Partnership (REEEP) with support from the International Center for Environmental Technology Transfer (ICETT). In addition to the AfDB and SEFA, organizers include the East African Development Bank (EADB), Rural Electrification Agency of Uganda (REA), South African National Energy Development Institute (SANEDI), Development Bank of South Africa (DBSA), the Private Sector Foundation Uganda (PSFU), Tanzania Renewable Energy Association (TAREA), Energy Private Developers Association of Rwanda (EPD) and the Development Bank of Ethiopia (DBE).
The submission of the application to participate together with the project proposal and project data sheet must be made by midnight (Central Africa Time) on Sunday, April 13, 2014 to firstname.lastname@example.org .