Development finance institution the African Development Bank Group (AfDB) will, through its Sustainable Energy Fund for Africa, provide a $1-million technical assistance grant to the Green Mobility Facility for Africa (GMFA).
The grant will support the creation of an enabling environment for electric vehicles (EVs), the design of EV business models and guidelines for the public and private sector, the development of a bankable pipeline of e-mobility projects, regional coordination and knowledge sharing among other upstream activities to help catalyse follow-on private sector financing during the subsequent investment phase of the GMFA.
The GMFA provides technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions in Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone and South Africa.
“Mobility is a fundamental lifeline that connects people to critical services, jobs, education and opportunities. We believe GMFA will have a tremendous impact on the African market by accelerating the shift to green mobility, reducing more than 2.1-million carbon dioxide equivalent tons of greenhouse-gas emissions and facilitating the creation of 19 000 full-time jobs,” says AfDB East Africa regional development and business delivery office director-general Nnenna Nwabufo.
“The AfDB is committed to building a sustainable and more climate-resilient future by catalysing private investment in low-carbon solutions,” she adds.
“Future demand for mobility solutions and vehicle ownership is expected to increase with rapid urbanisation, population growth and economic development. We are delighted to receive this support from the AfDB. We see this as a vote of confidence in our efforts to shift to e-mobility solutions and advance Rwanda’s transition to a low-carbon economy,” says Rwanda Development Board CEO Clare Akamanzi.