Johannesburg: Major private sector players have announced billions in new investment to accelerate Africa's clean energy transition, unveiling ambitious commitments at the Global Citizen Scaling Up Renewables in Africa event on Friday.
According to South African Government News Agency, the pledging session, led by Sabrina Dhowre Elba, activist, CEO, and chair of the Global Citizen Europe Board, set an energetic tone. Elba highlighted the momentum already created by governments in earlier sessions and underscored the urgent need for private sector leadership to match that ambition. She emphasized the central role of the private sector in driving Africa's clean energy transition and ending extreme poverty, noting that in today's global geopolitical climate, reliance solely on official development assistance or traditional foreign aid is no longer feasible.
Elba stressed the need for bold, innovative partnerships that can act with urgency and deliver impact at scale, as incremental progress on energy access and climate resilience is insufficient. She noted that the combination of multinational actors' innovation and financial strength with the entrepreneurial dynamism of Africa's markets opens the door to transformative projects and possibilities, accelerating access to affordable clean electricity and creating jobs.
Harith General Partners announced a significant pledge, with CEO Sipho Makhubela committing to increase the firm's energy output from 1.5 gigawatts to 5 gigawatts over the next five years. This expanded renewable pipeline is expected to support 850,000 households, representing dignity, productivity, and opportunity for the future of Africa's economies.
ENERTRAG South Africa CEO, Enos Banda, pledged 1.2 gigawatts of renewable investment valued at R32 billion, fulfilling a personal commitment made to President Ramaphosa in 2019. This investment will electrify the equivalent of 800,000 homes, support 2.8 million people, and anchor critical jobs in Mpumalanga while boosting South Africa's emerging green hydrogen economy.
Zoisa North-Bond, CEO of Octopus Energy for Business and Octopus Energy Generation, announced a $450 million investment through the company's Power Africa initiative. This investment aims to power 1.1 million people and symbolizes growth, jobs, and shared prosperity across Africa, turning potential into reliable power.
Genesis Energy Group committed to developing and deploying up to 10 gigawatts of renewable energy across Africa over the next decade, representing $8.5 billion to $10 billion in capital deployment. Executive Vice President Melissa Fadzai Sikwila highlighted the commitment's potential to transform communities, power essential services, and unlock a clean energy future for millions.
Tessa Lee, Chief Regulatory Officer at CrossBoundary Energy, unveiled a path to unlocking $1 billion in renewable projects by 2030. The company is scaling projects that are already transforming African industrial hubs, backed by $200 million in new senior debt commitments.
These pledges represent a substantial showing of private-sector commitment to Africa's energy transition, reinforcing calls from African leaders and global partners to accelerate clean energy deployment beyond promises into implementation. With billions committed and gigawatts promised, Global Citizen's campaign signals a new era of cross-sector collaboration, potentially reshaping energy access, industrial growth, and climate resilience across the continent.