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AfDB Approves New Financing Program for Energy Providers in sub-Saharan Africa

The Board of Directors of the African Development Bank Group has approved an innovative multinational financing program for Distributed Energy Service Companies (DESCOs), which would see 900,000 households in sub-Saharan Africa – about 4.5 million people – gain access to solar power by 2025.
The DESCOs Financing Program promotes securitization financing techniques to address barriers to accessing finance for DESCOs, while supporting their growth and expansion into existing and new markets. The program will also facilitate local currency financing for DESCOs and provide local lenders with risk mitigation instruments to support them.
Elaborating on the program, Wale Shonibare, the Bank’s Acting Vice-President for Power, Energy, Climate Change, and Green Growth said the Bank will provide critical technical guidance and credit enhancement to DESCOs and local financial intermediaries.
“Accelerating access to universal, affordable, reliable, sustainable and modern energy for underserved populations requires innovative financing solutions. Innovations such as receivables-backed financing structures provided by the program are vital in the Bank’s efforts to unlock private sector participation and local currency financing for the energy sector,” Shonibare said.
The program will contribute to installation of an estimated 45 MW of distributed solar PV which will provide clean energy access for 900,000 households by 2025 (4.5 million people). It will also create approximately 6,000 new direct jobs, mainly for the youth, and contribute to avoidance of nearly 37.08 kilotons of CO2eq emissions per year.
The design of the program supports the Bank’s Financial Sector Development Policy and Strategy and Industrialization Strategy Flagship program to grow liquid and effective capital markets, and support innovative financing mechanisms.
Stefan Nalletamby, the Bank’s Director for Financial Sector Development, said the program would help build capacity within DESCOs and local financial intermediaries in executing securitization structures and other innovative frameworks for accessing finance.
“It will also promote financial inclusion by availing consumer financing to customers in rural areas, building credit history, and encouraging the uptake of mobile payment solutions,” Nalletamby added.
The board approval follows the approval of a EUR 50 million guarantee facility and EUR 6 million technical assistance grant by the European Fund for Sustainable Development (part of the European External Investment Plan).
“Solar home systems present commercially viable, climate resilient, and modern solutions to provide clean energy access to off-grid populations in Sub-Saharan Africa. DESCOs have seen extensive growth owing to the rapid proliferation of mobile banking and pay-as you-go (“PAYGO”) technologies that allow low-income customers to pay off their purchases over an extended period of time.
This program will enhance the impact of DESCOs by enabling them to access financing that is tailored to their operations. It is also a great example of collaboration between the European Commission and the African Development Bank,” said Dr. Daniel Schroth, the Bank’s Acting Director for Renewable Energy and Efficiency.
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Anambra Shines in 2025 E-Governance Rankings, Setting National Standards

Anambra State has once again demonstrated its leadership in digital transformation, emerging as one of Nigeria’s top three states in the 2025 e-Governance Report published by the Panorama CIAPS Governance Performance Index (CGPI).
According to the report — a collaborative effort between Nigerian Panorama and the Commonwealth Institute of Advanced Professional Studies (CIAPS) — Anambra ranks alongside Lagos and Enugu as the leading states in adopting and implementing e-governance practices that foster accountability, transparency, and improved service delivery.
In his remarks, Professor Anthony Kila, Director of CIAPS, emphasized the importance of e-governance in shaping how governments interact with citizens. “The centrality of e-governance allows us to assess the performance of state governments in the country. How the government treats the digital world says a lot about them,” he said.
The report evaluated states based on a comprehensive set of criteria, including website security, up-to-date content, public engagement, availability of online services, policy updates, and user accessibility. Anambra’s performance reflects the state’s deliberate investment in digital infrastructure and its commitment to leveraging technology as a tool for inclusive governance.
Reacting to the recognition, the Managing Director/CEO of the Anambra State ICT Agency, Chukwuemeka Fred Agbata, CFA, described the report as a welcome validation of the efforts being made under the leadership of Prof. Charles Chukwuma Soludo, CFR, to reposition Anambra as a liveable and prosperous smart mega-city.
“This is not just about being tech-savvy,” Agbata said. “It’s about using digital tools to create real impact — making the government more accessible, responsive, and transparent. Anambra is building a digital future that works for everyone.”
The CGPI Report recommended that all states intensify efforts to train public servants, maintain digital platforms effectively, and build user-friendly systems that keep citizens informed and empowered. For Anambra, this recognition serves both as a milestone and a motivation to scale new heights.
As the journey continues, Anambra remains focused on setting the pace for e-governance in Nigeria in line with the Governor’s mantra of Everything Technology & Technology Everywhere.
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SERAP Urges National Assembly to Reject Tinubu’s $24Bn Loan Request Over Debt Concerns

Socio-Economic Rights and Accountability Project (SERAP) has urged the National Assembly to reject the Tinubu administration’s request to borrow $24 billion, warning that the move would significantly deepen Nigeria’s debt crisis.
In a statement posted on its official X account, the advocacy group warned that the proposed borrowing would raise Nigeria’s total debt stock to an estimated ₦183 trillion—an amount it described as “clearly not sustainable and not in the public interest.”
“The National Assembly must immediately refuse to approve the Tinubu administration’s request to borrow $24 billion,” the group said. “The growing national debt is not sustainable and not in the public interest.”
SERAP expressed concern over the heavy burden of debt servicing, which it said is already consuming a substantial portion of government revenue, leaving little room for critical public investment.
Nigeria’s total public debt is projected to surpass ₦180 trillion following the president’s latest loan request. The borrowing plan includes a proposal for over $21.5 billion in external loans, which equates to ₦33.39 trillion at the official exchange rate of ₦1,590 per dollar. The administration is also seeking approval for a domestic bond issuance worth ₦757.9 billion to settle outstanding pension liabilities.
President Tinubu said the 2025–2026 borrowing plan targets key sectors such as infrastructure, healthcare, education, water supply, security, and employment generation. He noted that the plan is also intended to cushion the economic impact of fuel subsidy removal.
The total loan request comprises $21.5 billion, €2.19 billion, and 15 billion Japanese Yen, alongside a €65 million grant. Tinubu assured lawmakers that the funds would be directed toward development projects across all 36 states and the Federal Capital Territory, with emphasis on rail networks, healthcare infrastructure, and poverty alleviation programs.
On pension-related borrowing, the president explained that the proposed bond issuance is aimed at clearing backlogs under the Contributory Pension Scheme. The measure, he added, has already received approval from the Federal Executive Council and is expected to improve retirees’ welfare, restore trust in the pension system, and inject liquidity into the economy.
Nigeria’s public debt has surged in recent years, rising by 48.6% in 2024 to ₦144.66 trillion—up from ₦97.34 trillion in 2023. The Federal Government accounts for 95% of that total.
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