Emerging Africa Infrastructure Fund (EAIF), the first company established within the Private Infrastructure Development Group (PIDG), has raised $294 million of additional debt facilities, bringing it closer to its target $500 million by 2025.
Managed by Ninety One, EAIF provides long-term commercial debt to deliver inclusive and impactful infrastructure projects in Africa. The fund said the latest finance facilities demonstrate its ability to mobilize private sector debt in one of the largest capital raises in recent years, led by a blended finance debt fund advancing infrastructure development across Africa.
The financing round was led by Allianz Global Investors, on behalf of Allianz Group, which committed a further €75 million ($82 million) to the debt package and $50 million ($54 million) to EAIF. It also was backed by prominent financial institutions, including Standard Bank, Africa’s largest lender by assets, which provided a $75 million multicurrency revolv