The Emerging Africa Infrastructure Fund (EAIF) – which supplies financing to private sector infrastructure projects in sub-Saharan Africa – ended 2017 on a high note by securing U$200 million in loan commitments to fragile states.
The EAIF core strategy is focused mainly on fragile states where traditional lenders to the private sector do not operate and where capital from the development finance sector is scarce.
Nazmeera Moola, head of EAIF at its management firm Investec Asset Management, said: "These achievements show that EAIF helped to accelerate economic development in countries and sectors which are new to us, while taking on new ventures in countries in which we have long-standing projects.”
Overall, EAIF provided finance to independent power producers that will bring 90MW of new solar power to Africa and financed 374MW of power across solar, hydro and fossil fuel in 2017 alone.
Projects included the refinancing of the Bugoye hydro electricity plant in Uganda, the expansion of the Tobene ll power station in Senegal, and another renewable energy project in Mozambique.
