Powering Africa’s Future: An Interview with the Founder & Executive Chair of Ariya Capital Group

As Africa’s energy sector undergoes rapid transformation, Ariya Capital Group stands at the forefront, driving investment and innovation in clean and renewable energy. In this exclusive interview, the Founder & Executive Chair of Ariya Capital Group Dr Herta Von Stiegel discusses the company’s vision, regulatory challenges, industry pitfalls, and the leadership principles that guide its success.

Founder & Executive Chair of Ariya Capital: Dr Herta Von Stiegel

What are your hopes for the future of your business and the industry as a whole?

Africa remains an immense yet underserved energy market, requiring over USD 25 billion in annual investment. Ariya Capital Group builds and invests in clean and renewable energy businesses across the continent, recognising the sector’s pivotal role in economic development.

After a successful investment banking career in New York and London, I turned my focus to Africa, identifying consumer-led growth industries that are fundamental to poverty alleviation. Energy stood out as a critical sector suffering from chronic underinvestment, hindering manufacturing, sustainable mining, and broader economic expansion.

Ariya is committed to accelerating Africa’s transition to net-zero, inspired by the speed, focus, and adaptability of the cheetah. In an industry often plagued by slow progress and fragmentation, we aim to scale impactful, profitable businesses while breaking the cycle of energy poverty. My hope is that we serve as a catalyst, channelling more capital from African institutional investors into the sector. By offering attractive alternative investment products, we can empower local investors to participate in the real economy with confidence.

What regulatory changes would help improve investment in African energy markets?

The regulatory landscape in Africa is gradually evolving to accommodate alternative investments. Pension regulators in key markets such as Kenya, Nigeria, Ghana, Tanzania, Uganda, and the West African Economic and Monetary Union have introduced allocation guidelines permitting investments in non-traditional asset classes.

Further liberalisation of these frameworks would create a more conducive environment for institutional investors, enabling greater participation in infrastructure and energy investments. Policy stability and regulatory clarity are crucial for long-term investment confidence, as uncertainty often deters much-needed capital inflows.

What pitfalls should newcomers to the industry avoid?

A common mistake made by new entrants is underestimating the relational nature of doing business in Africa. Unlike purely transactional markets, success here is built on trust, patience, and long-term relationship-building.

Assuming one can fly in, make quick deals, and exit without investing time in understanding the local ecosystem is a recipe for failure. Companies must be well-capitalised, differentiate themselves with a compelling value proposition, and develop a deep understanding of regulatory environments. Equally important is engaging with key industry influencers and decision-makers.

Can you share an anecdote illustrating your company’s journey?

We launched Ariya Capital Group from our dining room table in Nairobi, navigating the complexities of raising early-stage capital through development grants and crowdfunding. Those early days taught us invaluable lessons about resilience, resourcefulness, and celebrating small wins while keeping a big vision in mind.

While we now execute large-scale investments, our early experiences reinforced the importance of adaptability and maintaining a long-term perspective in building successful energy businesses.

How do ESG principles influence the way you operate?

Sustainability is at the core of our business model. Ariya is dedicated to delivering strong risk-adjusted returns while making a positive environmental impact.

We are well-positioned to support Africa’s transition to a net-zero carbon economy by 2050, adhering to globally recognised sustainability frameworks, including the Equator Principles and the NetZero Asset Managers Initiative. Our corporate mission aligns with several UN Sustainable Development Goals, particularly in promoting female leadership, reducing energy costs for businesses, creating sustainable jobs, and enhancing environmental stewardship.

What are the biggest mid- to long-term challenges your business faces?

Developing large-scale energy projects is inherently complex, but even more so in Africa. Key challenges include global and regional political instability, limited access to development capital, distorted risk perceptions, and the prolonged timeframes required to bring projects to full commercial operation.

Despite these obstacles, we remain committed to driving investment into the sector and finding innovative solutions to accelerate energy access across the continent.

What excites you about the business world?

I began my career as a lawyer, transitioned into investment banking, and ultimately became an entrepreneur. The private sector remains the primary driver of economic growth and prosperity.

What excites me most is the ability to create tangible change—whether through empowering local businesses, transferring knowledge, or contributing to a more sustainable planet. Business is not just about financial returns; it’s about making a lasting impact that benefits future generations.

What leadership lessons have you learned throughout your career?

Early in my career as an investment banker, success was often defined by the size of one’s bonus. Over time, I realised that true success is about living an integrated, purpose-driven life—both professionally and personally.

I believe that leadership is the foundation of any successful enterprise. My goal is to be an effective leader who brings out the best in my team, investors, and stakeholders. In my book, The Mountain Within – Leadership Lessons and Inspiration for Your Climb to the Top, I reflect on the lessons learned while leading a multinational, multi-ability team up Mount Kilimanjaro. These include perseverance, vision, prioritising mission over ego, maintaining a strong team, and investing in one’s legacy.

Climb up Kilimanjaro: Herta’s husband Hans von Stiegel, Herta and their guide Elloy.

What motivates you to keep pushing forward?

The opportunity to drive real change, empower individuals, and contribute to a more sustainable world is what keeps me going. This work is not for the faint-hearted, but it is incredibly rewarding.

I firmly believe that it takes enlightened men and courageous women to transform the world. Every day, I wake up energised by the challenge of improving lives through sustainable investment.

What are the most important traits of a good corporate leader?

Competence, character, and authenticity. A leader must possess the expertise to execute their vision, the integrity to uphold ethical business practices, and the ability to inspire trust and confidence among their team and stakeholders.

What is the most important question people should ask about your business?

Do we conduct our business with competence, integrity, and a client-centric approach? The answer must always be yes.

At Ariya Capital Group, we are committed to delivering exceptional results while upholding the highest standards of ethics and transparency. By aligning financial success with social impact, we are not only investing in energy—we are investing in Africa’s future.