Cygnum Capital Appointed Manager of COMESA/ASCENT’s PPF
The Common Market for Eastern and Southern Africa has signed a two-year agreement with Cygnum Capital to serve as Manager of the USD 25 million demand-driven Project Preparation Facility (PPF). As Facility Manager, Cygnum Capital will oversee the design, operationalization, and administration of the PPF, working closely with COMESA, the World Bank, and regional partners to increase the number of projects prepared to bankability.
The signing which took place on 23rd February, 2026 marked the beginning of a partnership between COMESA and Cygnum which will soon usher in a digital platform for processing projects and eventually culminate into many projects being supported across the region.
The PPF is designed to support distributed renewable energy (DRE) and clean cooking projects, integrate environmental safeguards, gender equity, and social inclusion into project design. As well as bridge the gap between promising energy concepts and bankable projects ready for investment.
Over the two-year mandate, Cygnum Capital will establish a robust pipeline of renewable energy and clean cooking projects and provide technical assistance and financial structuring support to project developers. The PPF Manager shall also ensure projects meet international standards for sustainability and inclusivity as well as facilitate partnerships between governments, private investors, and development institutions.
Speaking in an interview, ASCENT Project Coordinator at the COMESA Secretariat, Dr. Malama Chileshe, emphasized the importance of the Facility:
“The Project Preparation Facility is a gamechanger for our region. Too often, promising energy projects fail to attract financing because they lack proper preparation. By bridging this gap, the PPF will unlock investment opportunities, accelerate clean energy deployment, and directly improve the lives of millions across Eastern and Southern Africa.”
The Facility is expected to tackle several long-standing barriers including limited project bankabilityas many renewable energy initiatives stall at concept stage due to insufficient technical and financial preparation.
The PPF also aims to reduce high transaction costs that developers face during feasibility studies, legal structuring, and environmental assessments and will provide financial access by Small and medium-scale projects who often struggle to secure funding from commercial banks and investors.
On the other hand, the Facility shall reduce the social and environmental gaps during project implementation especially that projects sometimes overlook gender inclusion, community engagement, and sustainability safeguards.
Cygnum Capital Asset Management Ltd (CygCap) is an independent advisory firm and asset manager operating across frontier and emerging markets, with a core focus on Sub-Sahara Africa.
