First export finance impact fund in Africa

Investec is proud to be the anchor investor in Acre Impact Capital, which has just announced its first close. Acre Impact Capital is the first export finance impact fund in Africa, established to work with banks and export credit agencies to finance green and social infrastructure on the continent.

Investec’s involvement dates back to Acre’s commencement of fundraising with the support of the Private Infrastructure Development Group.

Since Investec’s initial investment, Investec has been joined by development banks including the European Investment Bank, FSD Africa Investments as well as family offices and impact-first investors, including Trimtab Impact and Ceniarth. Other African banks have also joined, reflecting a long-term commitment to the continent and expectations about the positive impact of the strategy in respective home markets.

A strategically important investment

Investec Group has a long history of incubating funds on the continent and understood the strategic importance of the fund in accessing and converging new sources of funding for the export credit market.

Crucially we recognised the importance of supporting Acre Impact Capital as an independent open platform through which these new funding sources could be effectively deployed into transactions for the benefit of the market as a whole.

Through its initial investment Investec expects the fund to contribute and enable the closure of up to 20 projects across the continent to the value of up to US$2bn in renewable power, health, addressing food and water scarcity, sustainable cities and green transportation.

Lourens Van Rensburg, Head of Corporate and Institutional Banking at Investec Bank Ltd said: “Investec has a proud history of backing innovative ventures and we are delighted to have supported Acre Impact Capital from the outset.”

“Acre Impact Capital is a unique platform that merits our anchor backing, thanks to its vision to deliver highly impactful infrastructure projects to under-served populations in Africa and the communities in which we live. We look forward to more investors joining the unique Acre initiative.”

Pic: Investec’s global head of export and agency finance, Brian Irvine (far right) at the launch of Acre Impact Capital with its Managing Partners.