Recent impact deals in Africa:
Renewable energy. Inspired Evolution launched Zafiri, a $176 million blended-finance vehicle to back distributed renewable energy businesses in sub-Saharan Africa, with the International Finance Corp., the African Development Bank, Rockefeller Foundation, MacArthur Foundation and others as founding shareholders… The International Finance Corp. invested $10 million in energy-access utility CrossBoundary Access to expand mini-grids and battery-as-a-service infrastructure in Nigeria and Madagascar… Cygnum Capital’s Facility for Energy Inclusion and Norfund provided a $90 million debt facility to telecom energy services provider CREI to finance renewable energy assets in several African markets… Nigeria-focused impact investor All On invested $1 million in solar-powered cold-chain company Eja-Ice Nigeria.
Climate and infrastructure. Southern Africa-focused climate-tech investor Holocene announced the final close of its debut fund after backing 10 companies in the region… South Africa’s Development Bank of Southern Africa invested in EV infrastructure company Zimi… Pan-African private equity firm Amethis acquired a majority stake in Côte d’Ivoire-based power security solutions provider ADEMAT… Danone-backed Livelihoods secured €124 million ($141 million) for its fourth nature-based fund investing in agroforestry, rural energy and ecosystem restoration in Africa, Latin America and Asia… Dubai-based Spiro closed a $270 million round with additional backing from China-based NewTrails Capital to expand its electric motorcycle and battery-swapping network in seven African countries.
Financial inclusion. Egyptian fintech Blnk raised $37.1 million in equity and debt financing to expand its point-of-sale lending platform… Nigerian credit infrastructure startup CreditChek raised $600,000 led by Janngo Capital to expand into East Africa… Gender-lens fund manager Aruwa Capital invested $2 million in Sika Financial Group, which builds infrastructure for African institutions to settle trades in local currencies… Anara Impact Capital will manage a €45 million ($52 million) fund to back social entrepreneurs and refugees in the Middle East and North Africa… The Inclusive Insurtech Investment Fund held a $12 million first close to expand insurance adoption in underserved African communities.
Development finance. The African Development Bank became the first institutional shareholder in the ECOWAS Bank for Investment and Development, committing $30 million in equity and a $70 million credit line… The European Investment Bank’s development arm, EIB Global, and the Development Bank of Nigeria announced a €200 million financing partnership to support lending to SMEs… Nigeria-based ARM-Harith Infrastructure Investments raised $76 million for its climate transition fund, anchored by FSD Africa Investments and the African Development Bank.
Housing and health. French development financier Proparco provided a €20 million loan to South African affordable housing developer Calgro M3 Holdings for a housing development in Johannesburg… Proparco also backed Rwanda-based digital health insurer EdenCare to support its expansion into Kenya.
