South Africa has taken a major step towards a cleaner motoring future as the Development Bank of Southern Africa (DBSA) confirmed a R100 million equity investment in Zero Carbon Charge (CHARGE). The company is spearheading the nation's first network of off-grid, solar-powered ultra-fast electric vehicle (EV) charging stations.
After approving the deal in April, the DBSA concluded its due diligence and cleared the way for construction. The next phase will see charging sites built along the N3 corridor linking Johannesburg and Durban, before expansion to the N1 connecting Johannesburg and Cape Town. The aim is to provide reliable, renewable power that boosts confidence in EV adoption and opens opportunities for rural communities hosting the sites.
At the DBSA, we are committed to backing catalytic projects that stimulate both economic growth and societal benefit, said Spiwe Sibanda from the DBSA. CHARGE's off-grid charging model is a future-proof solution that supports the expansion of South Africa's electric vehicle market while strengthening consumer trust in green energy and mobility.
The investment milestone was reached with support from Absa's Corporate and Investment Banking Division, which guided CHARGE through the financial process. The Head of Advisory at Absa CIB said, Absa believes in the future of sustainability, and CHARGE embodies this vision. Its model aligns with our values and South Africa's long-term economic prospects, which is why we are proud to have supported this landmark transaction.
For CHARGE, the partnership validates years of planning and proof-of-concept work. Co-founder Joubert Roux commented, We are grateful to both the DBSA and Absa for their unwavering support in helping us reach this milestone. Our first station was built as a self-funded proof of concept to showcase our dream to all, and today, this investment validates our business model as the future of South Africa's green transport infrastructure.
As EV ownership expands, the country is laying the groundwork for renewable motoring that supports both sustainability and long-term consumer confidence.
