African investors must seek ‘alternative partnerships’ for renewables under Trump administration

Investors must adjust to US climate skepticism under the Trump administration in order to ensure renewable energy continues dominating infrastructure finance in Africa, a private capital industry figure told Semafor.

“African businesses, investors, and governments must adapt by seeking alternative partnerships,” said Nadia Kouassi Coulibaly, head of research analytics at the African Private Capital Association (AVCA) industry body, pointing to European and Asian investors.

Despite the political shift, “sustainable investing will remain a viable and strategic approach,” she said, continuing a trend highlighted in an AVCA report seen by Semafor. It showed the energy sector — dominated by renewables — led private capital infrastructure investments in Africa between 2012 and 2023, with deals worth more than $27 billion. The $11 billion telecommunications industry was the next largest, followed by the digital infrastructure and transport sectors.