Technical assistance

TAF

The Emerging Africa Infrastructure Fund

Providing very long-term foreign currency loans to private sector investors

Projects that reached financial close in 2016

DR Congo Helios Towers – Airtel Tower Acquisition

Nigeria IHS Nigeria Group

Sierra Leone CECA IPP

Uganda Lubelia Hydro DI Frontier

Uganda Siti II Hydro, DI Frontier

Uganda Tororo Solar PV Building Energy

Uganda Achwa Hydro Plant 2

 

Projects that became operational in 2016

Congo (Republic) Helios Towers

DR Congo Nyumba Ya Akiba Cement

Nigeria African Foundries Limited Expansion

Nigeria  Tower Power Abeokuta Limited

Rwanda KivuWatt, Lake Kivu

Senegal Tobene Power

Tanzania Helios Towers (Vodacom Tower)

Tanzania Helios Towers

Uganda Kalangala Infrastructure Services

Uganda Kalangala renewables

Achievements in 2016

EAIF met all its targets, finishing the year in a healthy financial position with a strong and diversified portfolio. During the year, EAIF closed seven transactions for a total value of $134m, leveraging $976m in private sector capital investment.

In Uganda EAIF has now supported eight small-scale renewable energy projects, mostly in rural locations. This year EAIF helped fund Tororo solar farm and Siti II and Achwa, two run-of-river hydro plants.

Other notable highlights

In Sierra Leone the company’s investment in the country’s first IPP, a new 57MW power station in Freetown, will help to vastly increase the power available, supporting the economy’s recovery from the impact of Ebola and a decade of lost growth.

Two projects financed in earlier years celebrated milestones. Soroti solar farm – Uganda’s largest – reached full production. In Rwanda, KivuWatt’s unique Lake Kivu methane-fuelled power station was formally opened. It produces 26.2MW of power, with future potential for up to 100MW.

Accelerating the development of Africa’s digital economy is central to EAIF’s strategy. In 2016 EAIF was involved in telecommunications tower projects in the Democratic Republic of Congo, Congo Republic and Nigeria.

In May Investec Asset Management (IAM) became EAIF’s fund manager following a competitive tender process designed to achieve best value for PIDG members. IAM has strengthened EAIF’s market access, new-business prospecting, risk management, and portfolio monitoring and administration, thus improving EAIF’s ability to deploy funds where they are most needed, so increasing its economic development impact and its attractiveness to private investors.

2017 and Beyond

EAIF will focus on projects in post-conflict and fragile states. Energy, transport, and telecommunications, including mobile payment services, are likely to be prominent.

EAIF will seek an expanded role as a lead arranger of finance for projects, thus bringing a higher level of additionally to its activities.

Annual Report 2016

DevCo

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Annual Report 2016

Annual Report 2016

Annual Report 2016

Annual Report 2016