Africa Go Green (“AGG”) is a dedicated pan-African greenhouse gas emission reduction debt fund, established by KFW with the support from the German Government. AGG primarily focuses on Energy Efficiency and Renewable Energy opportunities, with a prioritization on West African countries. AGG is raising up to US$250 million capital comprised of debt, senior equity and junior equity. AGG will provide medium to long-term debt, mezzanine financing, and guarantees as well as technical assistance for green housing, green appliances, industrial energy efficiency and green mobility sectors.
The project is categorized as FI-2 by the IFC.
The proposed investment of up to US$47 million is comprised of: (i) up to US$30 million debt for IFC’s own account; (ii) up to US$15 million senior equity from IDA PSW Blended Finance Facility (“IDA PSW BFF”); and (iii) up to US$2 million senior equity for IFC’s own account.
From the IFC's website:
In addition to a ca. US$50 million junior equity anchor investment from KFW, and equity commitments from the Sustainable Energy Fund for Africa, the African Development Bank and the Nordic Development Fund, AGG will have multiple shareholders, including IFC, and will be managed by Lion’s Head Global Partners (“LHGP AM”) and its EU AIFM: LHNL AM BV.. LHGP provides fund raising, investment planning, deal sourcing, and fund management services. To date LHGP has raised four debt funds with commitments of nearly US$600 million. LHGP is part of Lion’s Head Group, a leading investment banking and asset management firm established in 2008 and focused on frontier and emerging economies. LHG maintains a team of 60 professionals across offices in London, Nairobi, Lagos, New York, Dubai, and Amsterdam. Clients include a diverse array of corporations, development finance institutions, sovereigns, and foundations.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - Lion's Head Global Partners:
Laurène Aigrain - Executive Director, Africa Go Green Fund
Phone: +44 (0) 20 7340 0400
Address: Africa Go Green Fund, 130 Buckingham Palace Road, London SW1W 9SA
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