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FSD Africa Donates Over 19 Million to Green Project in Africa. This was disclosed at the recent Africa Climate Summit held in Nairobi, Kenya.
At the recent Africa Climate Summit held in Nairobi, Kenya, FSD Africa Investments (FSDAi) made a significant move aimed at strengthening climate resilience across Africa. They pledged a substantial $19.5 million investment to help close the financing gap for green projects on the continent.
To achieve this, FSD Africa will work in partnership with Acre Impact Capital’s Export Finance Fund, Catalyst Fund, and Camco’s Spark Energy Services. Of the total investment, $12 million will be channeled towards Acre Impact Capital’s Export Finance Fund I, which will focus on addressing the shortage of commercial debt financing for sustainable infrastructure projects. By doing this, the cost of debt will be lowered, making infrastructure projects more financially accessible. Additionally, over 500,000 people will benefit from improved access to crucial services, creating an estimated 2,000 jobs.
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In addition, FSD Africa is pledging $4.5 million to Catalyst Fund, which is a venture capital fund and accelerator that offers support to tech startups focused on enhancing the resilience of climate-vulnerable communities in Africa. This investment aims to showcase the potential of venture building as an investible model, with the aim of accelerating the growth of climate-smart businesses in Africa. The goal is to create or accelerate 40 enterprises and assist 5 million individuals and households in adapting to the impacts of climate change.
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Moreover, FSD Africa is directing $3 million towards Spark Energy Services, which will focus on addressing the scarcity of available financing for developers of smaller-scale projects by aggregating these endeavors. This innovative approach is designed to reduce transaction costs and diversify risks, ultimately making these projects more viable.
Anne-Marie Chidzero, Chief Investment Officer of FSD Africa Investments, believes that in order for Africa to achieve sustainable economic growth, there must be a significant increase in access to green finance. FSD Africa is committed to enabling investments to flow by taking more risks and working with local intermediaries to bridge the gaps in the current financing structures. To this end, FSD Africa is backing three funds that offer innovative ways to finance businesses that will make a significant contribution to Africa’s green economy.
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Andrew Mitchell, UK Minister for Development, underscores the UK’s commitment to Africa’s green future through the climate finance projects that were announced. The UK leadership is determined to unlock the funding needed to drive forward the green agenda internationally. Mitchell emphasizes that this can only be achieved through partnership and cooperation with Africa and the international community. He believes that together, we are stronger and we can go far.
FSD Africa Donates Over 19 Million to Green Project
FSD Africa Donates Over 19 Million to Green Project
FSD Africa Donates Over 19 Million to Green Project
FSD Africa Donates Over 19 Million to Green Project
