Zimbabwe | Africa
Zimbabwe Renewable Energy Fund (REF) 2.0
Mobilizing $100M to Establish Southern Africa’s Leading Private Equity Clean Energy Platform and Unlock $300M+ in Renewable Investments across the country and region
REASONS TO INVEST
Position Zimbabwe and the Southern African region as a renewable energy investment destination by scaling Zimbabwe’s successful $30M private equity Renewable Energy Fund model. This investment leverages Old Mutual’s established infrastructure fund management expertise and regional presence to deliver high-impact clean energy financing for 500+ renewable energy enterprises, with particular emphasis on women and youth-led businesses serving off-grid communities. The facility addresses Zimbabwe and Southern Africa’s critical energy access gap while generating attractive returns through equity participation in solar, hydro, biomass, and mini-grid developments across the region’s most promising frontier markets.
Current Partners
- Old Mutual Investment Group Zimbabwe
- Government of Zimbabwe
- Zimbabwe Infrastructure Bank
Potential Partners
- Development Finance Institutions (DFIs)
- African Development Bank
- International Finance Corporation (IFC)
- Private Equity Investors focused on Africa
- Regional Pension Funds
- Infrastructure Investment Funds
- Corporate Impact Investors in Energy
- Green Climate Fund
- Power Africa Initiative
- Old Mutual Regional Network
Fund Target
$100M (catalyzing $300M+ additional infrastructure and private investments)
Fund Returns
10-15% Internal rate of Return (IRR) under proven “buy-and-hold” private equity model with diversified renewable energy portfolio
Funding Duration
5-7 years (with 3-year deployment period)
