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AfricaGoGreen Fund Raises $47 Million in Equity Investments to Fund Climate-friendly Projects in Africa

AfricaGoGreen Fund Raises $47 Million in Equity Investments to Fund Climate-friendly Projects in Africa

#climate and sustainability
#investments
The International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for Africa have all contributed $47 million to the AfricaGoGreen Fund (AGGF) (SEFA)

The AfricaGoGreen Fund (AGGF) has raised $47 million in a funding round from the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for Africa. The funds will be used to finance more environmentally friendly projects across Africa, including the purchase of high-efficiency appliances and industrial equipment, the repair of old buildings and the construction of new green buildings, and the installation of solar panels and battery storage. The AGGF is the first structured debt fund in Africa that focuses on energy efficiency solutions, and its final close goal is to raise between $230 million and $250 million. The current fundraising round brings total funding to $138 million.


Read the full article on TechTrends.Africa

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