Introduction
As we close out 2025, one message rings clear across Africa’s investment landscape, momentum is no longer isolated, it is continental, diverse, and increasingly investor-ready. The final weeks of the year have seen governments, private capital, development institutions, and diaspora networks converge around energy transition, industrialisation, infrastructure financing, and high-growth market opportunities. From large-scale solar acceleration to strategic industrial projects, innovative financing structures, and diaspora-led investment platforms, Africa is ending the year with clarity of direction and strong signals for capital deployment in 2026. Africa’s solar sector continued its rapid ascent, with Kenya, South Africa, Morocco, and Somalia showcasing how renewables are moving from pilot projects to scalable, bankable infrastructure—reinforced by grants, private investment, and upcoming platforms such as Intersolar Africa 2026. In East Africa, Tanzania’s USD 250 million clinker plant investment in Kenya highlighted rising intra-regional capital flows and industrial integration, while Kenya itself unveiled ambitious infrastructure and sovereign wealth funds, opening government share sales to global investors as a new pathway for long-term capital mobilisation.
Uganda secured USD 2 billion in private financing to fast-track oil refining and petroleum infrastructure, signalling a broader African push toward downstream energy self-sufficiency. Rwanda closed the year by actively courting diaspora and foreign investors through the Rwandapreneur forum, spotlighting opportunities in housing, healthcare, tourism, and innovation, backed by strong institutional support. Meanwhile, the Democratic Republic of Congo received USD 442 million in IMF financing, reinforcing macroeconomic stability and reform momentum, and Somalia advanced its clean-energy transition with a USD 23 million solar power investment in Bosaso, underscoring how targeted capital can unlock growth even in fragile contexts. Together, these developments reflect an Africa entering 2026 with stronger fundamentals, deeper regional integration, and a growing pipeline of investable opportunities across energy, infrastructure, manufacturing, and services.
Trend of the week
Africa’s solar boom accelerates as investment and innovation power a new energy era
Africa’s solar market is accelerating into a mature, investment-ready ecosystem, driven by abundant solar resources, supportive policies, technological innovation, and rising private capital. With some of the world’s highest solar irradiation levels, the continent has added more than 10 GW of solar capacity over the past five years, according to IRENA, attracting billions in foreign direct investment. Kenya exemplifies this momentum, where off-grid solar solutions now power over 20% of rural households through pay-as-you-go models, supported by reforms such as feed-in tariffs and the Kenya Off-Grid Solar Access Project (KOSAP). Across the continent, South Africa’s REIPPPP has delivered over 6 GW of solar capacity, while flagship projects like Morocco’s Noor Solar Complex highlight the power of public-private partnerships and regional power integration. Falling PV module prices, major advances in battery storage, and innovative financing instruments such as green bonds and climate funds are expanding opportunities beyond power generation into skills development, supply chains, and digital energy services. As Intersolar Africa 2026 convenes in Nairobi on 3–4 February, the message is clear: Africa’s solar market is no longer emerging—it is scaling rapidly, positioning solar energy as a cornerstone of the continent’s energy transition, industrial growth, and long-term economic transformation.
Tanzania
Tanzanian capital deepens East African industrial play with USD 250M cement project
Tanzania’s Amsons Group, through its majority-owned subsidiary Bamburi Cement Plc, is deepening its footprint in Kenya’s cement industry with a USD 250 million investment to build a clinker production plant in Matuga, Kwale County. The move aims to reduce reliance on imported clinker, a key raw input in cement manufacturing that is subject to multiple tariffs, and to deliver more competitively priced cement to Kenya’s construction sector, where demand is driven by major infrastructure projects and private sector growth. Bamburi signed an engineering, procurement, and construction (EPC) contract with China’s Sinoma CBMI Construction Company Ltd to build the new plant, which will have an annual capacity of about 1.6 million tonnes and supports the company’s strategy to expand cement and concrete production while stimulating local economic activity along the Kenyan Coast. President William Ruto, who attended the contract signing, underscored the importance of industrial investments like the project for Kenya’s broader development agenda under the Bottom-Up Economic Transformation framework.
The clinker facility not only promises to enhance domestic supply and stabilise pricing but is also expected to create jobs and boost local business participation during construction and operations. The investment comes after Amsons completed its acquisition of 96.4 % of Bamburi Cement and also holds a significant stake in East Africa Portland Cement, strengthening its regional manufacturing base. Amsons Group’s expansion reflects growing intra-East African capital flows and private sector alignment with national industrialisation priorities, positioning the company as a key player in the regional construction value chain. For foreign investors, this project signals opportunities in industrial manufacturing, infrastructure supply chains, and regional integration, with tangible effects on cost structures, import substitution, and value-added production within East Africa’s burgeoning construction sector.
Kenya
Kenya unveils infrastructure and wealth funds, opens share sales to global investors
Kenya is set to embark on a transformative economic journey with the launch of a national infrastructure fund and a sovereign wealth fund, which received Cabinet approval on December 15th. These funds will be capitalized through the sale of government shareholdings in major Kenyan companies, including Safaricom, Kenya Pipeline Company, and East Africa Portland Cement Company (EAPCC). According to Reuters, the funds will finance essential projects such as roads and power plants, aiming to ease the strain on public borrowing. As outlined in the Cabinet memo, this initiative forms part of a USD 38.8 billion roadmap designed to transform the economy through innovative resource mobilization, strategic asset monetization, broader ownership via capital markets, and the channelling of national savings. The goal is to unlock significant private sector capital for priority investments, thereby reducing dependence on borrowing and taxation.
All proceeds from privatization will be exclusively invested in public infrastructure projects that generate and safeguard long-term value. For every shilling invested, the government anticipates mobilizing up to ten additional shillings from long-term investors such as pension funds, sovereign partners, private equity firms, and development finance institutions. Both funds will be managed independently and professionally, under rigorous governance, transparency, and accountability frameworks. The government aims to raise USD 2.7 billion from share sales, as reported by Africa Report. President William Ruto emphasized that the infrastructure fund would invest in key sectors without further increasing public debt, which has reached one of the highest debt-service-to-revenue ratios in Africa. Moreover, Ruto highlighted the necessity to expand Kenya’s installed electricity capacity from the current 2,300 MW to at least 10,000 MW to support industrialization. This strategic move positions Kenya as an attractive destination for foreign investors seeking opportunities in large-scale infrastructure development and economic growth.
Uganda
Uganda secures USD 2bn private financing to accelerate refining and petroleum infrastructure
Uganda National Oil Company (UNOC) has agreed to borrow up to USD 2 billion from Vitol Bahrain E.C., a subsidiary of global commodities trading giant Vitol, marking one of Uganda’s largest energy-sector financing deals as the country accelerates investment in domestic petroleum infrastructure. The seven-year loan, priced at an interest rate of about 4.9% and already approved by Parliament, comes at a time when traditional sovereign financing has become costlier for African governments, positioning the deal as a non-traditional but strategic funding option. The financing will support a suite of oil-related infrastructure projects, most notably Uganda’s long-planned crude oil refinery, alongside the development of petroleum storage facilities, new terminals, pipeline links, and transport infrastructure across the supply chain. Uganda is preparing for commercial oil production from its Lake Albert fields and has emphasized that domestic processing capacity is critical to reducing reliance on imported refined fuels, which UNOC currently sources largely through Vitol. The refinery project complements a previously announced USD 4 billion investment by UAE-based Alpha MBM Investments for a planned 60,000-barrel-per-day facility in which UNOC will retain a 40% stake, with the Vitol financing designed to strengthen the surrounding infrastructure needed to make the project commercially viable. Beyond refining, the funds will expand storage capacity and improve regional pipeline connectivity, enhancing fuel distribution within Uganda and across East Africa. The deal also reflects a broader continental push toward local refining as African countries seek greater energy self-sufficiency, reduce foreign exchange pressures, and create industrial jobs, highlighting how private capital and commodity traders are increasingly shaping the future of Africa’s downstream energy landscape.
Rwanda
Rwandapreneur forum opens high-growth investment pathways for diaspora and global investors
Rwandapreneur convened Rwandan diaspora professionals, entrepreneurs, investors, and development partners in Kigali for a two-day forum held from December 16–17 under the theme “Accelerating Global Opportunities in Rwanda.” Co-hosted by the Rwanda Development Board (RDB), the Ministry of ICT & Innovation, the Rwanda Social Security Board, the Kigali International Financial Centre (KIFC), and Entrepreneurial Solutions Partners, the forum offered visiting diaspora participants direct engagement with Rwanda’s growing innovation and entrepreneurship ecosystem. Through networking sessions, roundtables, and curated site visits, participants connected with local businesses, government institutions, and strategic partners while exploring investment opportunities across real estate, tourism, IT, healthcare, agro-processing, light manufacturing, and innovation-driven sectors.
For investors, the forum underscored Rwanda’s strong growth potential, particularly in real estate and housing, where urbanization pressures have created a housing deficit of over 500,000 units. RDB highlighted opportunities spanning affordable, middle-income, and large-scale residential developments, with flagship projects such as the USD 300 million Kigali Golf Resort Villas and the USD 200 million, 29-storey Kigali Green Complex illustrating the scale of investment available. Additional opportunities were showcased in Kigali Health City, MICE-focused hospitality, and agro-processing, positioning Rwanda as a regional hub for healthcare, tourism, and high-value services. The event emphasized the strategic role of diaspora-led investment, encouraging collective investment and partnerships, while highlighting RDB’s One-Stop Centre for streamlined permits, licensing, and aftercare support—signalling an open, investor-friendly environment with attractive long-term returns in East Africa.
Democratic Republic of Congo
DRC gains USD 442M IMF backing for resilient growth
The International Monetary Fund (IMF) has approved an immediate disbursement of USD 442.4 million to the Democratic Republic of Congo (DRC) following the second review under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF). This brings total IMF support to the country to approximately USD 779.7 million since the start of 2025, providing crucial fiscal support amid ongoing security challenges and recurring health crises, including Ebola outbreaks. Despite these obstacles, the Congolese economy remains resilient, with growth projected to exceed 5% in both 2025 and 2026, driven primarily by a strong mining sector, particularly copper. Inflation has dropped sharply, falling to 2.2% in November 2025 from 11.7% at the end of 2024, allowing the Central Bank of Congo to ease monetary policy, reducing its key rate from 25% to 17.5% in October. The IMF highlighted that macroeconomic stability is gradually strengthening, supported by progress in fiscal, structural, and governance reforms under the IMF-supported programs. For investors, the IMF notes that advancing governance, transparency, anti-corruption, and AML/CFT frameworks will be critical to fostering a more attractive business climate and supporting private sector development. With continued fiscal discipline, protection of social spending, and efforts to improve resilience to climate shocks, the DRC is positioning itself for more sustainable and inclusive growth, signalling opportunities across mining, infrastructure, and emerging sectors for strategically minded investors.
Somalia
USD 23M solar boost in Bosaso signals renewable investment opportunities in Somalia
On 16 December 2025, the African Development Fund approved a USD 23.36 million grant to expand clean and reliable electricity in Bosaso, a key port city in north-eastern Somalia. Financed through the African Development Fund and the Transition Support Facility, the project will add new solar generation capacity, rehabilitate and expand the city’s power grid, install modern metering systems, and deliver off-grid solar home systems to households without electricity access, including internally displaced families. The objective is to reduce reliance on expensive diesel power, lower electricity costs, and strengthen Somalia’s fragile energy institutions. Somalia’s electricity sector is characterized by low access and some of the highest tariffs in Africa, often exceeding USD 0.80 per kilowatt-hour due to dependence on imported diesel. In Bosaso, unreliable and costly power has constrained households, small businesses, and public services, forcing widespread use of generators and limiting economic activity. By integrating solar generation and battery storage, expanding grid reach, and improving billing transparency through smart meters, the project is expected to stabilize supply, reduce operating costs over time, and extend electricity to underserved neighbourhoods and vulnerable communities.
Beyond immediate energy access, the Bosaso project reflects a broader shift toward decentralized and climate-resilient power solutions in fragile states. Reliable electricity will support local trade, fishing, healthcare, and education, while creating short-term construction jobs and longer-term roles in operations and maintenance. Environmentally, the transition away from diesel will reduce urban pollution and improve resilience to fuel price and supply shocks. While not a standalone solution, the investment highlights how targeted renewable energy financing can deliver economic, social, and institutional gains while laying the groundwork for a more sustainable energy sector in Somalia.
Upcoming event
The Central & Eastern European Forum (CEE Forum 2026)
Date: January 13–14, 2026.
Venue: Hilton Vienna Park, Vienna, Austria.
Agenda:
A high-level financial markets forum bringing together policymakers, central bank governors, banks, corporate issuers, and global investors to shape the investment and economic agenda for the Central & Eastern Europe (CEE) region in 2026.
How to register:
Registration is available through the official event website @ https://theceeforum.com/pricing
Who should attend:
- Finance ministers
- Central bank governors
- Sovereign and institutional investors
- Commercial banks
- Multinational corporates
- Debt issuers
- Development finance institutions
- Market strategists with an interest in CEE financial markets and investment opportunities.
Key features:
- Unparalleled networking: Over 2,000 delegates from more than 50 countries, with thousands of one-on-one meetings expected.
- Policy and market insight: Speakers include finance ministers, central bank governors, multilateral officials, and leading institutional investors.
- Broad coverage of financial topics: Panels and discussions span sovereign debt, banking, sustainable finance, energy and infrastructure investment, and regional economic growth outlooks.
- CEE Securitisation Summit inclusion: Delegates can also attend the securitisation summit running alongside the main forum.
- Year-ahead strategic planning: The forum is recognised as a key platform to set the tone for capital markets and investment strategy across the CEE region in the coming year
Opinion of the week
“Africa is a profitable investment destination with vast opportunities. The continent has demonstrated incredible resilience, and as we usher in 2026 will be powered even more with financial innovations and strategic partnerships to tilt global capital to Africa.”
Akinwumi Adesina — Former President, African Development Bank.
Conclusion
As 2025 comes to a close, East Africa has firmly positioned itself as a dynamic hub for investment, innovation, and industrial growth, offering a diverse array of opportunities across the region. From Africa’s accelerating solar revolution, exemplified by Kenya’s off-grid electrification and Morocco’s Noor Solar Complex, to Tanzania’s USD 250 million clinker plant boosting regional cement production, the year has showcased how policy support, technological innovation, and private capital are converging to drive transformative projects. Kenya’s launch of national infrastructure and sovereign wealth funds, alongside Uganda’s USD 2 billion petroleum infrastructure financing, further underscores the region’s strategic focus on large-scale, high-impact development initiatives that attract both domestic and foreign investors. Rwanda has demonstrated the value of diaspora engagement, with Rwandapreneur’s December forum opening high-growth investment pathways in real estate, healthcare, tourism, and innovation-driven sectors, while the Democratic Republic of Congo secures USD 442 million IMF support, signalling resilience and growing business potential amid ongoing economic and security challenges. Meanwhile, Somalia’s USD 23 million solar initiative in Bosaso highlights the increasing role of renewable energy in stabilizing power access, reducing costs, and driving socio-economic development. Collectively, these milestones illustrate a vibrant investment landscape where infrastructure, energy, manufacturing, and technology converge, positioning East Africa as a region of unmatched opportunity and signalling a promising start to 2026 for investors seeking sustainable growth and long-term returns.
Resources
- Solar quarter (2025)
- The East African (2025)
https://www.theeastafrican.co.ke/tea/business-tech/tanzania-amsons-deepens-kenya-cement-play-clinker-plant-5301890
- African capital market news (2025)
- Africa business insider (2025)
https://africa.businessinsider.com/local/markets/uganda-turns-to-bahrain-based-financier-for-dollar2bn-to-accelerate-refining-plans/eyvycv1
- New times (2025)
https://www.newtimes.co.rw/article/32122/news/featured/rwandapreneur-business-forum-rallies-diaspora-partners-to-unlock-investment-opportunities
- Ecofin agency (2025)
https://www.ecofinagency.com/news-finances/2212-51605-imf-releases-442mln-to-dr-congo-after-program-reviews
- Africa sustainability matters (2025)
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