The African Development Bank Group has approved a $10m concessional equity investment in the ARM-Harith Successor Infrastructure Equity Fund to increase access to reliable electricity and modern transportation infrastructure as well as energy-efficient technologies in Nigeria and the wider West Africa region.
Sanari Capital, a women-led and majority Black-owned South African private equity firm, has raised c.R1.5bn ($80m) for the Sanari 3S Growth Fund, a portfolio with significant transformative potential across Africa.
African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for its private-sector renewable energy project in the Democratic Republic of Congo (DRC), marking a major step in expanding green infrastructure across the Central African region. Partnering with Kipay Investments SAS (Kipay), the Bank will finance the technical and bankability studies, legal, financial advisory and fundraising costs for the development of up to 200 MW reservoir-based hydropower project to be located along the Lufira River. The Bank will also take the lead in structuring the project's debt financing. Aligning with Afreximbank’s climate finance strategy, the project marks Afreximbank’s first private-sector renewable energy initiative in the DRC. This captive power project will deliver significant benefits. It will provide clean, reliable and affordable power to mining companies enabling beneficiation of critical minerals including copper and cobalt within the DRC and fostering significant value retention. Additionally, it will expand electricity access to the nearby community enhancing access to education and healthcare facilities. Once completed, the project is expected to result in the reduction of greenhouse gas emissions by approximately 108,000 metric tonnes of CO₂-equivalent annually thereby helping DRC meet its climate targets under the Paris Agreement and updated Nationally Determined Contributions (NDCs). Kanayo Awani, Executive Vice President Intra African Trade and Export Development, Afreximbank signed the agreement on behalf of Afreximbank while Eric Monga, Chief Executive Officer of Kipay Investments SAS, signed on behalf of his company. Commenting on the transaction, Awani, said: "This signing ceremony underscores Afreximbank’s commitment to support renewable energy projects that spur industrialization and export development activities while promoting a just energy transition. Afreximbank is committed to supporting DRC’s energy transition, enhancing the country’s energy security whilst leveraging its vast renewable energy potential to develop sustainable trade-enabling energy infrastructure.” “This financing reinforces Afreximbank’s commitment to mobilizing private capital to develop renewable energy projects and secure a sustainable future for DRC and the region. We are also proud to highlight the innovative structure deployed that encompasses a captive market that enhances the project’s bankability.” she added. Eric Monga, CEO of Kipay Investments SAS, highlighted that the project had led to renewed optimism for socio-economic development among the local population and across the country. He said: “It is important that local communities reap the benefits of the project -- including creation of new jobs and capacity building for the future renewable energy sector in the DRC.” Upon completion, the initiative is expected to lead to the creation of over 2,000 direct jobs and 952 potential indirect jobs, and augmentation of fishing and other economic activities on the reservoir. Others benefits include realisation of tax revenues to the DRC government over the 30-year duration of the project, and development of industrial clusters around the mining area. Kipay Investments SAS is incorporated to develop, design, construct, install, commission and operate and manage a reservoir-based hydroelectric power plant with a nameplate capacity of up to 200 megawatts.
The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company, managed by Ninety One, has brought a 20 MW solar photovoltaic (PV) plant in north-western Uganda to financial close, investing c. $18m in the project.
The Stock Exchange of Mauritius (SEM) has launched SEMX, a dedicated segment on the Official Market for high-growth companies.
AFRIGREEN Debt Impact Fund, an investment fund focused on sustainable energy solutions, has entered into a $15m debt facility with several project companies owned by Watt Renewable Corporation, an independently-owned provider of hybrid solar solutions in Nigeria.
Africa50, a pan-African infrastructure investor and asset manager, has made a $15m investment in Raya Data Center (RDC), a data center in Egypt.
The Development Bank of Southern Africa (DBSA) and AXIAN Group have signed an agreement to invest in the Africa50 Infrastructure Acceleration Fund (IAF).
GuarantCo, part of the Private Infrastructure Development Group (PIDG), and British International Investment (BII), the UK’s development finance institution and impact investor, expect to unlock $500m of new renewable power development through a groundbreaking deal with Etana Energy, the South African energy trading company.
The OPEC Fund for International Development (the OPEC Fund) has signed a $40m loan as part of a $394m sustainability-linked loan for ETC Group (ETG), one of Africa’s largest agricultural commodity supply chain managers.
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