DBSA invests R100m in Zero Carbon Charge for EV charging rollout

The Development Bank of Southern Africa (DBSA) has finalised a R100m equity investment in Zero Carbon Charge (Charge), the company building South Africa’s first nationwide network of off-grid, solar-powered ultra-fast electric vehicle (EV) charging stations.

The investment follows DBSA’s initial approval in April 2025 and the completion of due diligence to ensure the project is implementation-ready.

With the agreement signed, Charge will begin construction of its next charging sites along the N3 corridor between Johannesburg and Durban, followed by the N1 corridor to Cape Town.

Each site is designed to operate independently of the national grid, using renewable energy, while also providing economic opportunities for rural landowners and communities.

“Charge’s off-grid model is a future-proof solution that supports South Africa’s EV market while strengthening consumer trust in renewable mobility,” said Spiwe Sibanda of DBSA.

Absa Corporate and Investment Banking (CIB) advised Charge during the two-year process leading up to financial closure. “Absa believes in the future of sustainability, and Charge embodies this vision,” said the bank’s head of advisory.

Charge co-founder Joubert Roux said the investment validates the company’s business model: “Our first station was self-funded as a proof of concept. Today, this support from DBSA and Absa establishes the foundation for South Africa’s green transport infrastructure.”