Frontier and Growth Markets | September 27, 2022

Maris raises $12 million from Proparco for climate resilience in Africa

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, September 28 – Maris invests in renewables energy, agriculture and forestry, as well as gold mining, real estate and services. French development finance institution Proparco invested $12 million to help the Mauritius-based private equity firm build up its climate-related portfolio.

It has invested in a sustainable teak plantation, a commercial and industrial solar company, an electric commercial vehicle company, and several agri-businesses.

Maris describes itself as an environmental, social and governance-focused firm. It launched in 2009 with investments in newly-established South Sudan and a shuttered gold mine in Kenya. The mine was recently forced to pause operations over legal and land disputes, including with the local community.

The company says its portfolio of 20 small and mid-sized businesses employ more than 500 people, 40% of whom are women.