Uploaded January 2026 | Updated September 2026, 3 weeks ago
Why does Africa, home to 18% of the world’s population, receive just 1% of global energy investment? What’s stopping money from flowing to the continent when it has such good wind and solar potential? And what would it take to unlock an energy boom that benefits both Africa and Europe?
Spread across 54 countries and with a combined GDP the size of Italy, Africa's population is young and growing rapidly. It is set to grow from 1.5 billion people today to 2.5 billion by 2050. And it could reach 4 billion by 2100, accounting for two out of every five people on the planet. Africans want and deserve the same prosperity shared by richer parts of the world. And that means investment. So why is investment not flowing?
This week on Cleaning Up, Michael Liebreich speaks with Clemens Calice, CEO and founder of Cygnum Capital, which invests around $1.3 billion in Africa’s energy transition. Together they explore why risk perception and outdated models are slowing investment across Africa.
From rooftop solar for factories and mines, to electric motorbikes, power pools, and the geopolitics of gas, this episode makes the pragmatic case for how Africa can leapfrog to a cleaner, more resilient energy future.
Leadership Circle:
Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Cygnum Capital, Davidson Kempner, EcoPragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live.
Discover more:
• Cygnum Capital: cygnumcapital.com
• Episode 196, Lucy Heintz of Actis: youtube.com/watch?v=nhGDI_0QIHg
• Episode 216, Daniel Calderon of Alcazar Energy: youtube.com/watch?v=WMhFOWO4C84
• Episode 120, Ana Hajduka, founder of Africa Green Co.: youtube.com/watch?v=ktWh_G6Sw_g
Chapters:
00:00 - Coming Up
03:10 - Clemens Calice & Cygnum Capital
07:50 - Who Needs Finance?
11:20 - African EVs & Electrotech
14:30 - A Geography Lesson
17:40 - Where Does Cygnum Invest?
20:30 - Building Climate Resilience
25:30 - The Pendulum Swing of Clean Tech
29:50 - Solar & Wind Potential
34:30 - What Are The Risks?
39:40 - Multilateral Banks
43:00 - Growing Domestic Demand
46:45 - Jobs
50:00 - Africa-Europe Cooperation
53:30 - Future of Cygnum
56:48 - Outro
Why does Africa, home to 18% of the world’s population, receive just 1% of global energy investment? What’s stopping money from flowing to the continent when it has such good wind and solar potential? And what would it take to unlock an energy boom that benefits both Africa and Europe?
Spread across 54 countries and with a combined GDP the size of Italy, Africa's population is young and growing rapidly. It is set to grow from 1.5 billion people today to 2.5 billion by 2050. And it could reach 4 billion by 2100, accounting for two out of every five people on the planet. Africans want and deserve the same prosperity shared by richer parts of the world. And that means investment. So why is investment not flowing?
This week on Cleaning Up, Michael Liebreich speaks with Clemens Calice, CEO and founder of Cygnum Capital, which invests around $1.3 billion in Africa’s energy transition. Together they explore why risk perception and outdated models are slowing investment across Africa.
From rooftop solar for factories and mines, to electric motorbikes, power pools, and the geopolitics of gas, this episode makes the pragmatic case for how Africa can leapfrog to a cleaner, more resilient energy future.
Leadership Circle:
Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Cygnum Capital, Davidson Kempner, EcoPragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live.
Discover more:
• Cygnum Capital: cygnumcapital.com
• Episode 196, Lucy Heintz of Actis: youtube.com/watch?v=nhGDI_0QIHg
• Episode 216, Daniel Calderon of Alcazar Energy: youtube.com/watch?v=WMhFOWO4C84
• Episode 120, Ana Hajduka, founder of Africa Green Co.: youtube.com/watch?v=ktWh_G6Sw_g
Chapters:
00:00 - Coming Up
03:10 - Clemens Calice & Cygnum Capital
07:50 - Who Needs Finance?
11:20 - African EVs & Electrotech
14:30 - A Geography Lesson
17:40 - Where Does Cygnum Invest?
20:30 - Building Climate Resilience
25:30 - The Pendulum Swing of Clean Tech
29:50 - Solar & Wind Potential
34:30 - What Are The Risks?
39:40 - Multilateral Banks
43:00 - Growing Domestic Demand
46:45 - Jobs
50:00 - Africa-Europe Cooperation
53:30 - Future of Cygnum
56:48 - Outro
