IFC in the news as Africa’s VC scene heats up with Ventures Platform closing to a $75M second fund; IFC backs private sector growth.
Kenya has withdrawn its tariff review application, with government saying the move protects households and businesses from cost escalation while safeguarding growth, jobs and industrial competitiveness. The Energy and Petroleum Ministry confirms that tariff decisions will follow the Energy Act 2019 processes, including EPRA evaluations and public participation; current tariffs remain in force.
Analysts say sovereign-rating rules inflate the perceived risk of African renewable-energy projects, raising borrowing costs and slowing electrification across the continent. Only Botswana and Mauritius hold investment-grade ratings, hindering investment in projects such as Kenya’s Menengai Geothermal and Nigeria’s Solar IPP pipeline. Donor collaborations like Mission 300 are expanding access, but financing remains expensive and fragmented.