Major global companies unveiled multibillion-dollar commitments to accelerate Africa’s clean energy transition at the Global Citizen “Scaling Up Renewables in Africa” event on Friday, signalling a significant shift in private-sector momentum across the continent.
The pledging session was led by Sabrina Dhowre Elba, activist, CEO, and chair of the Global Citizen Europe Board, who praised earlier commitments from African governments while stressing that private investment must rise to match the scale of the challenge.
“In today’s geopolitical climate, we can no longer rely solely on official development assistance,” she said. “We need bold investors and cross-sector collaborations capable of delivering impact at scale.”
Elba emphasized that partnerships between major multinational companies and Africa’s rapidly expanding markets can unlock transformative projects, expand energy access, and strengthen climate resilience. “We can create jobs, accelerate access to affordable clean electricity, and power the next generation of African growth,” she added.
Harith General Partners to scale output to 5GW
In one of the day’s largest commitments, Harith General Partners CEO Sipho Makhubela pledged to expand the firm’s renewable energy output from 1.5 gigawatts to 5 gigawatts within five years. The expanded pipeline is expected to support electricity access for 850,000 households.
“This investment is about dignity, productivity and opportunity,” Makhubela said. “Our goal is to ensure Africa’s economies have the energy they need to industrialise.”
ENERTRAG South Africa announces R32 billion investment
ENERTRAG South Africa CEO Enos Banda announced a R32 billion (€1.5 billion) investment to deliver 1.2 gigawatts of renewable energy, a pledge he said fulfils a personal commitment to South Africa’s leadership.
The project is expected to power the equivalent of 800,000 homes and support 2.8 million people, while also anchoring jobs in Mpumalanga and advancing the country’s green hydrogen sector.
“This commitment will help meet South Africa’s growing energy needs and position the country as a global competitor in clean energy,” Banda said.
Octopus Energy launches $450 million Power Africa Initiative
Zoisa North-Bond, CEO of Octopus Energy for Business and Octopus Energy Generation, announced a combined $450 million investment as part of the new Power Africa initiative—$250 million in unlocked capital and $200 million dedicated to renewable generation.
The investment is projected to provide clean power to 1.1 million people, equivalent to the population of Mombasa.
“Technology and innovation can unlock huge opportunity,” she said. “Beyond the numbers, this commitment means growth, lower energy costs and shared prosperity.”
Genesis Energy pledges up to 10GW across the continent
Genesis Energy Group unveiled one of the most expansive long-term commitments of the event, pledging to develop and deploy up to 10 gigawatts of renewable energy over the next decade. The plan represents between $8.5 billion and $10 billion in capital deployment.
Executive Vice President Melissa Fadzai Sikwila said the initiative will deliver 500 megawatts annually and reach more than 33 million people, creating approximately 250,000 construction jobs and thousands of long-term roles.
“This is about transforming communities—powering hospitals, enabling small businesses and unlocking the clean energy future Africans deserve,” she said.
CrossBoundary energy targets $1 billion by 2030
CrossBoundary Energy announced a pathway to unlocking $1 billion in renewable energy projects by 2030, backed by $200 million in new senior debt commitments. The company is scaling a portfolio that includes solar installations powering major industrial sites and pioneering wind projects in Madagascar.
“We can build a future where every African business has access to reliable, affordable and sustainable energy,” said Chief Regulatory Officer Tessa Lee, calling for stronger regulatory frameworks to match investor ambition.
Friday’s pledges mark one of the most significant demonstrations of private-sector commitment to Africa’s energy future in recent years. With billions of dollars committed and gigawatts of new capacity planned, the event signalled a potential turning point in the continent’s transition toward cleaner, more resilient energy systems.
Author: Bryan Groenendaal
