UGEAP (IFC-51370)

Countries
  • Benin
  • Ethiopia
  • Kenya
  • Namibia
  • Nigeria
  • Tanzania
  • Uganda
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
U
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
Sep 15, 2026
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
Universal Green Energy Access Programme SCSp RAIF
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 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.
Project Cost (USD)
$ 300.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2026

Disclosed by Bank Aug 11, 2026

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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 bank provided information, IFC’s proposed investment is an equity investment of up to US$50 million or up to 20% of the total Fund size into the Fund in its preferred equity tranche (the “Project”). The Project feeds directly into the Mission 300 (M300) initiative by making investments in off-grid electrification, mini-grids, and clean energy infrastructure, which are essential for achieving M300’s goal of providing electricity to 300 million people by 2030.

Universal Green Energy Access Programme SCSp RAIF (“UGEAP” or the “Fund”) is a dedicated Sub-Saharan African fund designed to mobilize private investment in distributed renewable energy (“DRE”) projects, via on-lending to financial institutions and co-investments.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Fund’s target size is US$300 million, consisting of US$200 million (67%) in preferred equity (Class A) and US$100 million (33%) in junior subordinated preferred equity (Class B). IFC’s proposed investment is own account investment of up to US$50 million or up to 20% of the total Fund size in UGEAP’s Class A preferred equity tranche.   

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.

 

UGEAP is managed by Cygnum Capital Group, an experienced investment banking and asset management firm with a strong record in frontier and emerging markets across sub-Saharan Africa. Cygnum Capital Group was established in 2018 and operates across four business lines, including (i) asset management, with total AUM of US$1.4 billion across 7 funds, (ii) financial advisory, (iii) corporate and investment banking, and (iv) sovereign finance, serving clients across multiple sectors.

Limited partners (LPs) in the Fund comprise the Green Climate Fund (GCF) and the European Investment Bank (EIB). IFC will become an LP through this investment. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Cygnum Capital Group Ltd 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.

 

For Inquiries About the Project, Contact

Cygnum Capital Group
Carmen de Castro
Managing Director
+34 6694 27951
carmen.decastro@cygnumcapital.com
Amsterdam: Rhijnspoorplein 10-38, 1018 TX
https://www.cygnumcapital.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

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