CrossBoundary Energy C&I Africa Portfolio (MIGA-15397)

Countries
  • Congo, Democratic Republic of
  • Egypt
  • Eswastini
  • Ghana
  • Guinea
  • Ivory Coast
  • Kenya
  • Madagascar
  • Malawi
  • Mali
  • Mozambique
  • Namibia
  • Nigeria
  • Rwanda
  • Senegal
  • Sierra Leone
  • South Africa
  • Tanzania
  • Uganda
  • Zambia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 27, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
CrossBoundary Energy Holdings
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 495.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 28, 2025

Disclosed by Bank Jul 10, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, on June 30, 2025, the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, executed framework terms amounting to USD495 million with CrossBoundary Energy Holdings of Mauritius (CBE), for its equity, quasi-equity, shareholder loan investments into their renewable energy subsidiaries in 20 African countries against the risk of Transfer Restriction and Currency Inconvertibility for a period of up to 15 years: Cote d'Ivoire, Democratic Republic of Congo, Egypt, Eswatini, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia.

The project consists of the development, construction, financing, and operation of distributed renewable energy infrastructure across Africa, aimed at commercial and industrial (C&I) customers. Through its fully integrated energy platform, CBE offers a turn-key solution that includes the design, installation, and post-construction asset management of solar PV systems, wind farms, battery energy storage systems (BESS), and hybrid power solutions. The company enables C&I clients, ranging from local businesses to multinational corporations, to improve power reliability, and reduce their carbon footprint, without the burden of self-developing complex energy projects.

CBE operates under an innovative ownership model that allows clients to access renewable power through long-term contracts without upfront capital expenditure. This approach has supported widespread adoption of renewable energy across key sectors such as mining, manufacturing, and telecommunications.

MIGA will leverage a first loss risk sharing of up to $61.5 million from the IDA Private Sector Window-MIGA Guarantee Facility, which will be applied across individual guarantees for IDA-eligible countries, including the Democratic Republic of Congo, Guinea, Mali, Madagascar, Malawi, Mozambique, Rwanda, Sierra Leone, Uganda, Tanzania, and Zambia.

MIGA will also leverage the Renewable Energy Catalyst Trust Fund for a first loss risk participation of up to $37.6 million, to be applied across individual guarantees for non-IDA-eligible countries, including Cote d'Ivoire, Egypt, Eswatini, Ghana, Kenya, Namibia, Nigeria, Senegal, South Africa.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

It is expected that most Operations will have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. However, as all Operations have yet to be identified, it is possible that some may present significantly adverse risks and impacts. As of the disclosure of this ESRS, CBE does not have any Operations considered Category A.

The key E&S risks and impacts associated with the Program include CBE’s capacity and systems to manage and oversee E&S risks and impacts associated with the Operations, including construction and contractor management; labor conditions and occupational health and safety (OHS), hazardous and solid waste management including e-waste, supply chain risks associated with forced labor, security risks; and potential reputational risks related to the C&I off-takers.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the compay's website, the CrossBoundary Group was founded in 2011 with a focus on unlocking capital for underserved markets. It provides transaction and strategy advisory for investors, fund managers, companies, donors, and governments to mobilize capital into underserved markets.
CrossBoundary Access is a distributed electric utility that raises capital for portfolios of solar mini-grids that it designs, builds, and manages.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - CrossBoundary Energy Holdings Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Name: Ifeoma Dike 
Address: SkyPark Plaza, Waiyaki Way, Westlands, Nairobi, Kenya 
E-mail : ifeoma.dike@crossboundary.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works