On December 18, the African Development Bank announced a $10 million investment from its Sustainable Energy Fund for Africa (SEFA) to support the Persistent Africa Climate Venture Builder Fund (ACV Fund) in advancing climate technology entrepreneurship across Sub-Saharan Africa.

The Fund will address critical financing needs for early-stage climate technology entrepreneurs, focusing on key sectors, including solar energy solutions, energy efficiency technologies, electric mobility, agricultural technology, and circular economy innovations.

The initiative emphasizes supporting African entrepreneurs, particularly women-owned and -managed businesses, including the creation of over 66,000 jobs, with a significant portion benefiting women.