AfricaGoGreen II (IFC-51932)

Regions
  • Africa
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
FI
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 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
AFRICAGOGREEN FUND FOR RENEWABLE ENERGY AND ENERGY EFFICIENCY S.C.S., SICAV-RAIF
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 23.00 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 Jul 8, 2026

Disclosed by Bank May 15, 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, the investment is a follow-on IFC investment of up to US$23 million in the senior debt tranche of an IFC investee fund, Africa Go Green (“AGG” or the “Fund”), a dedicated pan-African greenhouse gas (“GHG”) emission reduction debt fund with a primary focus on Energy Efficiency (“EE”) and Renewable Energy (“RE”) opportunities. AGG is raising up to US$310 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 (“TA”) for industrial energy efficiency, green housing, green appliances and green mobility sectors.                                                 

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

The proposed investment is an up to US$23 million in the senior debt tranche of AGG for IFC's own account. This is a follow-on investment to IFC’s US$47 million financing package committed to AGG in 2023, which comprised of: (i) US$30 million senior debt for IFC’s own account; (ii) US$15 million senior equity from IDA PSW Blended Finance Facility (“IDA PSW BFF”); and (iii) US$2 million senior equity for IFC’s own account.

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.

Following its launch in 2020, AGG was anchored by a US$49.2m junior equity investment and EUR3 million Technical Assistance Facility by KFW, in addition to equity investments from multiple shareholders such as African Development Bank (and in its own capacity as the implementing entity for Sustainable Energy Fund for Africa (“SEFA”) and the Clean Technology Fund (“CTF”), Nordic Development Fund, British International Investment, and IFC. AGG is managed by Cygnum Capital Group (“CCG” or the “Fund Manager”, previously Lions Head Global Partners). Founded in 2008, Cygnum Capital Group is an experienced asset manager in green investments with an extensive execution track record in Africa. CCG has over 100 investment professionals spread across their offices in London (HQ), Amsterdam, Nairobi, Lagos, Abidjan, Dakar and Dubai. CCG currently manages or advises seven funds, including Africa Go Green, with approx. US$1.43 billion of committed capital, partnering with leading DFIs and institutional investors.

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 Finance

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 Ltd
Laurene Aigrain
Fund Lead, Africa Go Green Fund
+44 (0) 20 7340 0400
laurene.aigrain@cygnumcapital.com
Africa Go Green Fund, 130 Buckingham Palace Road, London SW1W 9SA
https://www.agg-fund.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