Our investment
Description of the investment.
Description of the investment.
We are an anchor investor in the fund, committing $76 million, and our investment aims to support the fund in reaching its target fund size. Our investment aims to boost renewable energy, digital infrastructure, mobility and logistics sectors.
Impact information
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
What?
Impact |
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How?
Primary | Secondary |
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Increase the supply of reliable and affordable transport, power and ICT infrastructure, to increase productivity, which leads to economic growth, job creation and improved quality of life. |
By generating market-viable returns, AIIF IV can help demonstrate commercial returns by investing in the infrastructure sector where the perceived risk is still high. In the long term, success would be the majority of African infrastructure focused funds primarily backed by commercial investors. |
Who?
Stakeholder | Geography | Characteristics |
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Consumers |
Pan-Africa |
Urban/peri-urban households |
Employees and businesses |
Pan-Africa |
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Planet |
Pan-Africa |
N/A |
How much?
Scale | Depth/Duration |
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Potential to be large-scale in nature given the types of infrastructure assets the fund targets, which in turn will impact many actors across the target sectors if proven successful. |
Consumers suffering from unreliable transportation, electricity, internet will benefit from quality of life improvements, but these are expected to be greater for individuals that consume most of the product/service. |
Contribution/additionality
Contribution/additionality |
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Risk
Unexpected Impact Risk
Unexpected Impact Risk
Efficiency Risk
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Impact score
Impact score (at point of investment)
The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. You can find out more here. The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party. |
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7 |
Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
We agreed an ESAP focused on strengthening the fund’s ESDD process on safeguarding and supply chain. The fund will also align their environmental and social policy with our Fossil Fuel Policy.
Environmental and social risk
High
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at [email protected]
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Key facts
- Last updated
When the last quarterly update of the website database occurred.
- June 2024
- Project number
An identifier number shared by investments in the same project.
- D5276
- Status
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- Africa, Central Africa, East Africa, Southern Africa, West Africa
- Sector
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Communications & IT services, Construction & Real estate, Infrastructure
- Investment type :
- Fund
- Start date :
- June 2022
- Amount :
- $76m
- Currency of investment :
- USD
- Fund Manager:
- African Infrastructure Investment Managers
- Domicile
The company or investment fund’s place of incorporation.
- South Africa
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Climate finance
Indicates whether the investment is climate finance qualified or partially climate finance qualified and the type of climate finance (adaptation, mitigation or both). We define climate finance using the multilateral development bank (MDB) and the International Development Finance Club (IDFC) Common Principles climate finance methodology. See Common Principles for Climate Mitigation Finance Tracking and Common Principles for Climate Change Adaptation Finance Tracking. We provide the climate finance qualification and type for commitments from 2020 onwards, which is when we launched our Climate Change Strategy.
- Partially qualified
- Climate finance type:
- Mitigation
- 2X Gender Finance
Indicates whether the investment is ‘2X qualified’ using the 2X Challenge criteria. You can find out more here. It only applies to investments made from 2018 onwards, when the 2X Challenge was first launched.
- Fully qualified
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit https://aiimafrica.com/
Investment name | Country | Region | Sector | Start date | Status |
---|---|---|---|---|---|
Commercial Cold Holdings (CCH) | South Africa | Southern Africa | Construction & Real estate | March 2023 | Active |
Eastcastle Series B | Nigeria | West Africa | Communications & IT services | September 2022 | Active |
Infraconnect 15 & 18 | Kenya | East Africa | Infrastructure | December 2022 | Active |
N+One Data Centers (MED) | Morocco | North Africa | Communications & IT services | September 2023 | Active |
NOA Investments (Pty) Ltd | Mauritius | East Africa | Infrastructure | March 2023 | Active |
The Logistics Group | South Africa | Southern Africa | Infrastructure | June 2022 | Active |