Prime Highlights-
- Green Climate Fund makes a US$253 million first-loss investment, its largest equity commitment in Africa.
- ACP targets US$3.7 billion in total financing and 10 to 12 infrastructure projects across Africa.
Key Facts-
- AFC Capital Partners launches ICRF Nigeria to channel institutional capital into climate-resilient infrastructure.
- Fund draws backing from EIB, DBSA, CDP, NSIA and African pension funds.
Background-
AFC Capital Partners (ACP), the asset management arm of Africa Finance Corporation, has launched the Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria) to draw domestic institutional capital into climate-resilient infrastructure projects across Nigeria and the wider continent.
The closed-end fund, registered with Nigeria’s Securities and Exchange Commission, will channel money from pension fund administrators, insurers, asset managers, and other local institutional investors into high-impact infrastructure ventures.
ICRF Nigeria forms part of ACP’s broader US$750 million Infrastructure Climate-Resilient Fund, built to strengthen Africa’s infrastructure resilience by weaving climate considerations into the asset lifecycle.
The wider fund has drawn commitments including a US$253 million first-loss investment from the Green Climate Fund, its largest equity commitment on the continent so far, along with backing from the European Investment Bank, the Development Bank of Southern Africa, Cassa Depositi e Prestiti, the Nigeria Sovereign Investment Authority, and several African pension funds.
ACP aims to mobilise up to US$3.7 billion overall and build a portfolio of 10 to 12 infrastructure projects across Africa.
AFC President and CEO Samaila Zubairu said Africa holds more than US$4 trillion in domestic resources, much of it stuck in low-risk instruments rather than productive sectors, and described ICRF Nigeria as a step toward channelling that capital into infrastructure.
ACP CEO Ayaan Adam said the fund gives Nigerian investors a direct route into climate-resilient infrastructure while combining institutional capital with blended finance to tackle both funding gaps and climate risk. Target sectors include renewable energy, transport, digital infrastructure, and industrial development.
