Norfund and KLP Invest USD40m in Kenya’s CrossBoundary Energy

Norfund and KLP acquired an equity stake in CrossBoundary Energy, a Kenya-based commercial and industrial renewable energy company, for USD40m through their joint company KLP Norfund Investments. CrossBoundary previously raised USD40m in equity from ARCH Emerging Markets’ Africa Renewable Power Fund in 2020. Read more… Read More

I&P To Invest in Senegal’s Delta SA

I&P, through its fund I&P Afrique Entrepreneurs 2, has agreed to an equity investment in DELTA SA, a Senegal-based sanitation and construction company, for an undisclosed amount. Read more… Read More

IFC Leads ~USD92m Debt Financing Round for Senegal’s Wave

IFC led a EUR90m (~USD92m) debt financing round for Senegal-based fintech startup Wave Mobile Money. The financing included a EUR25m (~USD26m) IFC loan, EUR41m (~USD42m) in B loans from Symbiotics, Blue Orchard, responsAbility and Lendable and EUR24m (~USD25m) in parallel loans from Finnfund and Norfund. Wave became francophone Africa’s first… Read More

AIIM | Starsight Energy

In February of 2018, African Infrastructure Investment Managers (AIIM) invested an undisclosed amount for a 37.8% stake in Starsight Energy, a Nigeria-based provider of clean on-grid and off-grid energy services. With AIIM’s support, Starsight Energy is able to measure the unit economics of each deployment and ensure prices are… Read More

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