British International Investment (BII) and FMO have made a joint $166 million commitment to African Infrastructure Investment Fund 4 (AIIF4), managed by African Infrastructure Investment Managers (AIIM).
British International Investment (BII) and FMO have made a joint $166 million commitment to African Infrastructure Investment Fund 4 (AIIF4), managed by African Infrastructure Investment Managers (AIIM).
The investment aims to support AIIF4 in reaching its $500 million target fund size. The Fund had previously received a cornerstone investment from Old Mutual, the fund manager’s sponsor and a prominent African financial services group.
Anchor investor BII, the UK’s development finance institution (DFI), has committed $76 million, and FMO, the Dutch entrepreneurial development bank, has committed $40 million, to AIIM’s fourth pan-African fund.
AIIM, an experienced fund manager with one of the longest track records in infrastructure investment in Africa, will invest in high-impact infrastructure projects across the continent through AIIF4. The Fund will see AIIM build on the successful performance of its predecessor funds by investing across three priority infrastructure sub-sectors: renewable energy such as rooftop solar; digital infrastructure including mobile telecoms towers, data centres, and fibre optic networks; and mobility and logistics such as ports, roads and other supporting infrastructure.
This commitment from BII, FMO and Old Mutual contributes to UN Sustainable Development Goals 7 (Affordable and clean energy), 8 (Decent work and growth) and 9 (Industry, innovation, and infrastructure).
