The Enabling Early Stage Infrastructure Investing is an Ecosystem Roundtable focused on the Opportunities, Issues and Constraints affecting Early Stage Investing in Infrastructure in Africa
Organized by
Co-Hosted by
Venue
25th Sep, 2025
Online
Microsoft Teams Webinar
The sizzling
EESII 1.0
How The Event Went!
WHY WE ARE
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EESII-1.0 (Enabling Early Stage Infrastructure Investing), hosted by The African Catalyst in partnership with Brickstone Africa, brought together key stakeholders in Africa’s infrastructure ecosystem — from developers and financiers to policy advisors and enablers. The event addressed the continent’s early-stage project development challenges through expert panel discussions, the DFIP InfraPitch competition, and structured engagements. By combining thought leadership with practical case studies, EESII-1.0 created a platform to bridge the gap between promising infrastructure ideas and the investment readiness required to secure funding.
Sessions
Jacinda Efemenah
Vanessa Baldwin – Co-founder, Qatar Energy & Africa Green Transition Fund (Moderator)
Femi O. Awofala – Founder, African Catalyst
Tony Tiyou – CEO, Renewables in Africa
Bunmi Folayan – Partner, CPCS
Priyanka Sood Jetwani – Senior Infrastructure Specialist, World Bank
Joshua Egba – Energy Specialist, USTDA
Irina Unkovski – Principal, InfraHouse Consulting
Kristoffer Laurson – CEO, Pas Solar
Babafemi Awofala
Jacinda Efemenah
Jacinda Efemenah
Session Highlights
Welcome Remarks
The African Catalyst, in partnership with Brickstone Africa, hosted the inaugural edition of the Enabling Early Stage Infrastructure Investing (EESII-1.0), designed to provide practical insights to emerging infrastructure developers (“infrapreneurs”) on how to make their projects investment-ready from the earliest stages.
The event featured a high-level panel session where industry experts and financiers unpacked the barriers to early-stage financing and shared lessons from global best practices. It also introduced the DFIP InfraPitch, a first-of-its-kind platform that gave selected developers the opportunity to pitch real infrastructure projects to an expert jury, receiving direct feedback on credibility, structure, and bankability.
Welcome Remarks
The inaugural Enabling Early Stage Infrastructure Investing (EESII-1.0) unfolded on September 25, 2025, hosted by African Catalyst. The event was opened by Jacinda Efemenah, Program Manager at African Catalyst and Senior Analyst at Brickstone Africa, who framed the conversation with stark numbers: Africa faces an annual infrastructure financing gap of $68–108 billion. Yet nearly 80% of projects never reach financial close — not because of weak demand, but because of insufficient early-stage preparation.
Efemenah set the tone with a call to action: “Capital isn’t the problem. Readiness is.” The aim of the day, she stressed, was to bring together developers, financiers, and policymakers to explore how Africa can turn ideas into bankable projects. Her words resonated, reminding the audience that infrastructure success begins long before ground is broken.
EESII Replay - Panel Session
PANEL SESSION
Moderated by Vanessa Baldwin, the panel brought together a blend of practitioners, financiers, and advisors to unpack the thorny question of how to de-risk Africa’s infrastructure pipeline at the earliest stage.
Femi O. Awofala (African Catalyst) opened with hard truths: 80% of African infrastructure projects never get to financial close, not because investors lack interest, but because developers underestimate the discipline required. He stressed the “three pillars” of bankability: offtake certainty, construction delivery, and governance. Without those, he argued, “a project is just a concept on paper.”
Tony Tiyou (Renewables in Africa) brought a comparative lens, urging Africa to adapt — not reinvent — proven models. He pointed to Brazil’s pre-certification system that screens projects before they reach investors, and South Africa’s REIPPPP auctions, which standardized requirements and attracted billions. “Africa doesn’t lack sunlight or ideas,” he said. “What it lacks is structure that gives investors confidence.”
Bunmi Folayan (CPCS) drilled into the human and institutional side. She warned that too many sponsors assume that passion will substitute for preparation. “Investors fund competence, not enthusiasm,” she quipped. Folayan emphasized building local ecosystems of advisors, so that legal, technical, and environmental frameworks are in place long before capital is sought.
Priyanka Sood Jetwani (World Bank) echoed the need for government ownership, stressing that projects survive only when host governments remain committed through political cycles. She reminded attendees that reforms — from tariff frameworks to permitting systems — need to be predictable: “Private capital runs from uncertainty. Government consistency is the strongest de-risking tool we have.”
Joshua Egba (USTDA) highlighted the importance of technical assistance at the early stage. He noted that feasibility studies, funded through grants, often unlock private investment by providing the credible data developers can’t afford on their own. “A bad feasibility study can kill a project. A good one can save it,” he said.
Irina Unkovski (InfraHouse Consulting) was blunt: “The two biggest mistakes we see are unrealistic assumptions and fragmented preparation.” She shared anecdotes of projects where developers overstated revenue potential or ignored key permitting risks, only for those oversights to unravel deals years later.
Kristoffer Laurson (Pas Solar) closed with a developer’s perspective. Despite the billions of dollars circulating in global markets, he said, African projects often fail to attract funding because the instruments don’t fit. “We don’t have enough equity or first-loss capital. There’s debt everywhere, but without someone willing to take the first risk, projects die before they start.”
The session crystallized one consensus: Africa doesn’t lack capital or ideas. It lacks readiness — credible studies, sound governance, aligned risk-sharing, and government commitment. The panelists converged on a challenge to developers: do the hard work up front, or risk joining the 80% of projects that never leave the drawing board.
EESII Replay - InfraPitch Opening Statement
WHY DFIP INFRAPITCH
After the panel’s deep dive into Africa’s early-stage infrastructure challenges, Femi O. Awofala, Founder of African Catalyst, took the floor to introduce the Developing and Financing Infrastructure Projects (DFIP) program and its signature platform, the InfraPitch.
He painted a sobering picture: “Africa is sitting on an infrastructure time bomb. Demand is exploding, but 80% of projects die before they even reach financial close.” The culprit? Weak early-stage preparation — poor documentation, fragile governance, and a lack of credible feasibility studies.
Femi explained that DFIP was designed as a direct response to this problem. It’s not just a training program, but a structured pipeline for grooming first-time “infrapreneurs” — developers with promising ideas but little exposure to the standards investors demand. The program equips them with:
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Technical and financial skills to build credible project models.
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Mentorship from advisors who know the pitfalls of early-stage development.
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Visibility through platforms like InfraPitch that simulate real investor scrutiny.
Why InfraPitch? Because, as Femi emphasized, developers need practice not just in conceiving projects, but in selling them to capital. “At the early stage, you’re not asking for billions — you’re asking for belief. Can you tell your project’s story convincingly enough that someone is willing to take the first risk with you?”
InfraPitch, he said, was African Catalyst’s way of flipping the script. Instead of waiting for investors to find polished projects, the platform helps developers refine their concepts in real time — testing their assumptions, exposing gaps, and building credibility.
Register Now for the next DFIP session
Registration Ongoing!
EESII Replay - InfraPitch Full Session
The InfraPitch jury was composed of seasoned professionals drawn from finance, infrastructure development, and advisory fields. Their presence gave the competition both rigor and gravitas, ensuring that participants received the kind of scrutiny they would encounter in real investment rooms.
Throughout the pitches, the jury played a dual role: evaluators and educators. They challenged presenters on technical assumptions, financial structuring, and regulatory alignment, but also offered guidance to strengthen weak points. Their questions reflected deep knowledge of the African infrastructure landscape, probing into issues such as:
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Feasibility and Data Integrity: Was the underlying technical or market data robust enough to justify the project’s scale?
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Governance and Sponsors: Did the presenters demonstrate credible ownership structures and personal commitment?
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Financial Sustainability: Were revenue streams clearly defined and resilient to political or market risks?
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Alignment with Policy: Did the projects fit within national or regional infrastructure priorities?
Their approach was frank yet constructive. While no shortcomings were overlooked, the jury consistently emphasized learning and growth. As one juror remarked, “This is about readiness. If you cannot stand up to tough questions here, you won’t stand up to them in front of actual investors.”
By the end of the session, the jury had not only selected a winner but also delivered a broader message: that discipline, transparency, and preparation are as critical as vision in determining which projects succeed. Their interventions transformed InfraPitch from a simple showcase into a learning platform, equipping developers with insights they could carry forward well beyond the event.
EESII Replay - InfraPitch Session - Group A
Case Study of the Baynes Hydropower Project
The Baynes Hydropower Project, a cross-border initiative between Angola and Namibia, is designed to harness the Kunene River’s potential to generate reliable renewable electricity. Envisioned as a large-scale hydroelectric dam, the project aims to supply over 600 MW of capacity, supporting domestic demand in both countries and contributing to the Southern African Power Pool (SAPP).
Register Now for the next DFIP session
Registration Ongoing!
EESII Replay - InfraPitch Session - Group B
Case Study of the East African Corridor Rail Operator
This project explored the development of a regional rail operator to strengthen trade and connectivity along the East African Corridor. The proposal aimed to improve the efficiency of cargo transport across Kenya, Uganda, Rwanda, and potentially the Democratic Republic of Congo by upgrading rolling stock, operations, and management of the standard gauge and meter-gauge railways.
Pitch Highlights
The presenter emphasized the inefficiencies of road-based logistics, where high transport costs erode competitiveness of East African exports. By consolidating operations under a professional regional operator, the project aimed to lower costs, reduce road congestion, and boost regional trade. The business model leaned on long-term freight contracts with mining, agriculture, and manufacturing companies.
Pitch Highlights
The presenter positioned Baynes as a cornerstone of regional cooperation. The project was framed not just as an energy supply venture, but also as an enabler of industrial growth, rural electrification, and climate-friendly development. The financing concept included a joint development authority, with costs and benefits shared between Angola and Namibia. Revenue was expected from long-term power purchase agreements (PPAs) with both national utilities.
Judges’ Feedback
Judges highlighted the project’s ambition and regional importance but raised critical points:
Environmental & Social Impact: Large hydropower carries displacement and ecological risks. They asked for details on mitigation and stakeholder engagement.
Hydrology risk: Climate variability could affect river flows and long-term generation. Judges wanted to see stress testing of output assumptions.
Governance: Effective coordination between two sovereign governments was flagged as both a strength (for scale) and a potential weakness (for delays).
Takeaway
The Baynes project underscores that large-scale hydropower can deliver transformational impact but demands robust environmental studies, climate resilience planning, and strong cross-border governance frameworks to earn investor trust.
Register Now for the next DFIP session
Registration Ongoing!
EESII Replay - InfraPitch Session - Group C
Case Study of the Expansion of Beira Port
The Beira Port expansion project in Mozambique was pitched as a critical upgrade to one of Southern Africa’s most strategic gateways. Serving landlocked countries such as Zimbabwe, Zambia, and Malawi, Beira Port’s expansion aimed to increase capacity, modernize facilities, and enhance efficiency for bulk commodities and container traffic.
Pitch Highlights
The presenter positioned Beira as a cost-saving alternative to congested South African ports. Proposed investments included deepening berths, upgrading cargo handling equipment, and digitalizing customs processes. The revenue model relied on increased throughput, concessions, and long-term contracts with shipping lines and bulk exporters.
Judges’ Feedback
Judges recognized the regional trade benefits but pointed to key challenges:
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Financing structure: Port projects are capital intensive; lenders would require public-private partnership (PPP) frameworks with clear revenue-sharing models.
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Environmental considerations: Dredging and expansion could affect marine ecosystems, requiring robust environmental impact assessments.
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Stakeholder alignment: The port serves multiple countries; success depends on regional cooperation and alignment with national logistics strategies.
Takeaway
Beira Port’s expansion is a classic example of how infrastructure upgrades can catalyze regional trade, but success rests on PPP frameworks, environmental stewardship, and multi-country stakeholder buy-in.
Register Now for the next DFIP session
Registration Ongoing!
EESII Replay - InfraPitch Session - Group D
Case Study of the East African Green Power Transmission Project
This project proposed the construction of a cross-border transmission network, designed to carry renewable electricity — particularly from Ethiopia’s Grand Ethiopian Renaissance Dam (GERD) — to neighboring countries including Kenya, Tanzania, Uganda, and potentially beyond. The system envisioned over 1,300 km of high-voltage lines capable of delivering up to 3,000 MW of clean energy.
Pitch Highlights
The presenter framed the project as both climate-smart and economically strategic. It would enable countries to diversify their energy mix, reduce reliance on fossil fuels, and access affordable electricity. The transmission system would integrate into the Eastern Africa Power Pool (EAPP), fostering regional energy trade. The financial structure leaned on long-term wheeling agreements and intergovernmental treaties.
Judges’ Feedback
Judges acknowledged the transformative potential but raised critical points:
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Political risk: Cross-border energy projects depend on multi-country cooperation and long-term stability in relations.
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Regulatory harmonization: Tariff structures, wheeling charges, and legal frameworks differ across countries and need alignment.
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Construction and delivery risk: Judges noted that such mega-projects often face delays, cost overruns, and land acquisition challenges.
Takeaway
The transmission project showcased how regional power integration can unlock renewable potential, but requires political stability, harmonized regulation, and disciplined project management to reassure financiers.
Register Now for the next EESII session
Registration Ongoing!
Winner Announcement & Closing Remarks
When the time came to announce the InfraPitch winner, the atmosphere shifted — everyone leaned in, waiting to hear which project had impressed the judges most. The title went to the Baynes Hydropower Project!
The judges praised the project for its technical readiness, regional significance, and alignment with Africa’s clean energy transition. Unlike some pitches that relied heavily on future assumptions, this one demonstrated solid feasibility work, credible governance structures, and a financing strategy rooted in intergovernmental cooperation. Most importantly, it spoke directly to Africa’s dual challenge: bridging the power deficit and doing so sustainably.
Applause filled the room as the winner was announced, not just in celebration of a single project, but in recognition of what InfraPitch had achieved — showcasing Africa’s capacity to develop ambitious, bankable ideas.
Closing the event, Jacinda Efemenah returned to the stage. Her words carried pride but also urgency. “We’ve proven today that Africa has ideas, ambition, and talent,” she said. “But ambition without preparation is wasted potential. The future of infrastructure investing in Africa will be written by those who do the hard work early — building credibility, sharing risks, and aligning with partners who believe in their vision.”
She reminded the audience that EESII was not a one-off but a signal — to investors that Africa is serious about grooming early-stage projects, and to developers that readiness is their greatest currency.
With that, EESII-1.0 concluded — not as the final word, but as the opening chapter of a long-term effort to unlock Africa’s infrastructure future.