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Impact investment firm Acumen has raised $246 million for its Hardest-to-Reach Initiative, a major initiative to expand electricity access across 17 of Africa’s most underserved nations. Announced during New York Climate Week, the fund will channel financing into off-grid solar projects, leveraging lessons from success stories in Nigeria and Kenya. Despite skepticism from global critics of renewable energy, including US President Donald Trump, Acumen argues that solar remains the most cost-effective and scalable solution for rural electrification. Backed by investors like the Green Climate Fund and British International Investment, the initiative supports the broader Mission 300 campaign—led by the African Development Bank and World Bank—to deliver power to 300 million Africans by 2030.
African Business