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    Summary sheet

    Release date
    21 March 2022
    Status
    Reference
    Under appraisal | 02/03/2022
    20210726
    Project name
    Promoter - financial intermediary
    AFRICAN INFRASTRUCTURE INVESTMENT FUND 4
    AFRICAN INFRASTRUCTURE INVESTMENT MANAGERS (PTY) LTD
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 75 million (EUR 68 million)
    USD 500 million (EUR 454 million)
    Location
    Sector(s)
    • Transport - Transportation and storage
    • Telecom - Information and communication
    • Energy - Electricity, gas, steam and air conditioning supply
    Description
    Objectives

    Equity fund focusing on value-add infrastructure assets (mainly construction and growth assets) in Africa, with a focus on sub-Saharan Africa.

    The investment team targets both new and existing assets and intends to apply for the latter a buy and build strategy that consists of acquiring controlling stakes in mature operational assets and then developing and optimising them further. The investment team targets essential African infrastructure assets in the mobility and logistics, power and energy transition (specifically renewable energy), as well as digital sectors across mainly in sub-Saharan countries.

    Environmental aspects
    Procurement

    The fund will be required to have an environmental and social policy and the appropriate management systems in place so as to comply with the social requirements of the Bank. The assessment of the environmental, climate and social impacts and risks will be part of the standard due diligence process that the fund will have to carry out for each portfolio company and any underlying investment and, thereby ensuring that the portfolio and these investments are in compliance with national law and in line with the principles and standards of relevant EU environmental legislation as well as the EIB's Environmental and Social Standards.

    The EIB will require the fund manager to take all requisite measures to ensure that contracts for implementation of the projects financed by the fund will be tendered in line with the Bank's Guide to Procurement.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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