This initiative looks to help young entrepreneurs power Africa with green energy projects

The energy sector in Africa faces numerous challenges, with experts suggesting that investing in clean energy solutions could tap into the continent's existing resources. CNBC Africa recently spoke with Gavriel Landau, Co-Founder of Charm Impact, about the necessary investments in the sector. Charm Impact is a company specifically focused on assisting early-stage entrepreneurs in Africa, particularly in Sub-Saharan Africa and South and Southeast Asia, in accessing finance to grow their businesses. Landau highlighted the significant issue of electricity access across the continent and the potential for young, ambitious entrepreneurs to solve these problems if provided with the necessary support and networks. Charm Impact recently closed its seed round, securing the working capital needed to scale the company's operations. The company acts as a matchmaking service, connecting investors with profitable and impactful clean energy projects initiated by local entrepreneurs. By facilitating these investments, Charm Impact aims to not only support business growth but also provide electricity access to thousands, if not millions, of people. The energy sector in Africa is described as a thriving industry, although it faced challenges during the COVID-19 pandemic. Despite setbacks, innovative solutions and entrepreneurial ventures continue to emerge in every country on the continent, focusing on providing electricity to their communities. Landau emphasized the importance of creating an enabling environment for entrepreneurs by addressing gaps such as favorable policies, local capacity building, and retaining financial benefits within the continent. By incentivizing local participation and investment, the energy sector could significantly impact Africa's GDP by improving access to electricity for millions, unlocking economic potential, and enhancing overall quality of life. Collaborations between the private sector and public sector are crucial for fostering this supportive environment. While government policies play a key role in creating favorable conditions, private sector investments and risk-tolerant capital also contribute to driving innovation and impact. Charm Impact underscores the importance of collective action, with Landau advocating for a holistic approach involving various stakeholders to accelerate progress in the energy sector and propel Africa's development forward.