THE EMERGING AFRICA INFRASTRUCTURE FUND

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The Emerging Africa Infrastructure Fund is managed by Investec Asset Management. The EAIF is funded by the governments of the United Kingdom, The Netherlands, Switzerland, and Sweden. It raises its debt capital from public and private sources, including Allianz, the global insurance and financial services company; Standard Chartered Bank; the African Development Bank; the German development finance institution, Kreditanstalt für Wiederaufbau KFW, and FMO, the Dutch development bank.

The Emerging Africa Infrastructure Fund has three primary sources of funding;

  • The governments that provide its equity,
  • The development finance institutions,
    private banks and institutional investors it borrows from,
  • And revenue coming from interest payments and the repayment of loans.
  • The Fund is operationally self-sufficient and stable.

The total capital of the Fund as per 2018 is approximately US$1,034.4 billion, made up of US$ 391.9m in equity and US$642.5m of debt finance. The total investment of US$ 15.954 billion.

The Emerging Africa Infrastructure Fund is empowered to work in the eight sectors: Energy, Telecoms, Water, Infrastructure, Gas, Transport, Agribusiness, Mining. Alongside traditional projects, it supports new and innovative technologies, fresh business models and entrepreneurial managements.

EAIF offers loan products to infrastructure projects and companies operating in eligible sectors and countries in Africa. Financial products are:

  • Project loans and corporate loans of between US$ 10 million and US$ 50 million
  • Senior debt
  • Subordinated and/or mezzanine debt
  • Loans in US$ or €, loan periods of up to 20 years
  • Local currency loans possible in certain circumstances
  • Anchor or cornerstone investor in bond issues
  • Bridging finance
  • Structuring and arranging
  • Sole lender or within a syndicate
  • Lead or joint arranger with other financial institutions
  • Additional services
  • Viability, technical and environmental grant support to qualifying projects
  • Introducing clients to other PIDG businesses where appropriate

EAIF works with substantial private sector businesses and projects developers across Africa.

Countries eligible for EAIF funding are all sub-Sahara countries.

source: www.eaif.com

Alexander Herring
Vice President CBL-ACP
PSLO World Bank Group