COSEF

COSEF invests in Africa’s climate solutions and innovative businesses in the fastest growing sectors, by leveraging long-term multi-stakeholder partnerships to de-risk investments to generate top-tier returns and create outsized impact at scale.

Background

To achieve substantial structural transformation, Africa needs to focus on strategic investments in key sustainable development goal areas such as agriculture, manufacturing, health and education among others. The financing gap for these investments is vast, estimated at about US$402 billion annually. Domestic resources are insufficient to close this gap, hence the need for private investment to finance Africa’s development goals.

Also, climate change is devastating Africa, and the continent’s annual climate finance gap is about US$213.4 billion. Agriculture is the backbone of Africa’s economy, where over 70% of Africans are dependent on the sector for livelihoods. The dependence on agriculture is rendering many economies increasingly vulnerable to the effects of climate change, hence the need for increased investment in adaptation solutions. As for energy, Africa’s economies use fossil fuels to rise out of energy poverty. This causes significant increase in global temperature due to excessive emissions, and has far reaching consequences primarily on women, such as floods, prolonged droughts, climate related diseases and limited education opportunities due to climate related disruptions. There is an urgent need to transition Africa’s economies from fossil fuels to renewable energy, by financing and growing innovative solutions.